Financials Vestis Corporation

Equities

VSTS

US29430C1027

Personal Services

Market Closed - Nyse Other stock markets 01:30:02 18/05/2024 am IST			5-day change	1st Jan Change
12.52 ^USD	-2.42%		+8.96%	-40.78%

07/05	Redburn Downgrades Vestis to Neutral, Price Target at $13.40	MT
06/05	Vestis Insider Bought Shares Worth $1,102,079, According to a Recent SEC Filing	MT

Valuation

Fiscal Period: Settembre	2023	2024	2025	2026
Capitalization ¹	2,523	1,646	-	-
Enterprise Value (EV) ¹	4,120	3,070	2,961	2,793
P/E ratio	-	57.8 x	18.9 x	19 x
Yield	-	1.12%	1%	1.04%
Capitalization / Revenue	0.89 x	0.59 x	0.57 x	0.55 x
EV / Revenue	1.46 x	1.09 x	1.02 x	0.94 x
EV / EBITDA	12.6 x	8.94 x	7.7 x	6.95 x
EV / FCF	23 x	17.4 x	19.9 x	20.2 x
FCF Yield	4.35%	5.74%	5.03%	4.95%
Price to Book	-	1.8 x	1.76 x	1.63 x
Nbr of stocks (in thousands)	1,30,725	1,31,451	-	-
Reference price ²	19.30	12.52	12.52	12.52
Announcement Date	29/11/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2023	2024	2025	2026
Net sales ¹	2,825	2,808	2,910	2,985
EBITDA ¹	328.2	343.4	384.7	402.2
EBIT ¹	217.9	229.5	251.8	284.9
Operating Margin	7.71%	8.17%	8.65%	9.54%
Earnings before Tax (EBT) ¹	269.7	42.41	120.2	119.4
Net income ¹	213.2	30.19	89.25	107.6
Net margin	7.54%	1.07%	3.07%	3.61%
EPS ²	-	0.2167	0.6624	0.6600
Free Cash Flow ¹	179.1	176.2	148.9	138.3
FCF margin	6.34%	6.27%	5.12%	4.63%
FCF Conversion (EBITDA)	54.57%	51.3%	38.71%	34.38%
FCF Conversion (Net income)	84.03%	583.65%	166.86%	128.5%
Dividend per Share ²	-	0.1400	0.1250	0.1300
Announcement Date	29/11/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Settembre	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales ¹	709.4	715.9	717.9	705.4	689.4	697.6	717.4	719	702.8
EBITDA ¹	-	86.1	98.4	87.2	75.28	81.43	90.54	91.65	81.6
EBIT ¹	-	57.78	69.5	58.5	48.57	53.64	66.65	63.92	53.24
Operating Margin	-	8.07%	9.68%	8.29%	7.05%	7.69%	9.29%	8.89%	7.58%
Earnings before Tax (EBT) ¹	-	109.3	16.82	8.341	2.054	10.61	24.17	21.96	9.946
Net income ¹	48.86	93.97	12.27	5.965	1.492	6.185	14.59	15.24	8.732
Net margin	6.89%	13.13%	1.71%	0.85%	0.22%	0.89%	2.03%	2.12%	1.24%
EPS ²	-	-	0.0900	0.0500	0.0473	0.0845	0.1100	0.1150	0.0650
Dividend per Share ²	-	-	-	-	0.0400	0.0400	0.0400	0.0400	0.0400
Announcement Date	06/09/23	29/11/23	07/02/24	02/05/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: Settembre	2023	2024	2025	2026
Net Debt ¹	1,597	1,424	1,315	1,147
Net Cash position ¹	-	-	-	-
Leverage (Debt/EBITDA)	4.865 x	4.147 x	3.419 x	2.853 x
Free Cash Flow ¹	179	176	149	138
ROE (net income / shareholders' equity)	13.3%	6.97%	9.41%	8%
ROA (Net income/ Total Assets)	6.78%	1.77%	2.87%	2.6%
Assets ¹	3,144	1,704	3,114	4,139
Book Value Per Share ²	-	6.940	7.110	7.690
Cash Flow per Share	-	-	-	-
Capex ¹	77.9	78.4	91.4	88
Capex / Sales	2.76%	2.79%	3.14%	2.95%
Announcement Date	29/11/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Vestis Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

12.52 USD

Average target price

13.55 USD

Spread / Average Target

+8.23%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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