Company Valuation: Amundi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,686 10,791 12,526 13,126 14,386 18,596 - -
Change - -26.52% 16.08% 4.79% 9.6% 29.26% - -
Enterprise Value (EV) 1 15,857 10,791 13,903 13,789 14,212 17,252 16,773 16,279
Change - -31.95% 28.84% -0.82% 3.07% 21.39% -2.78% -2.94%
P/E 10.7x 10x 10.8x 10.1x 9.12x 11.5x 12.6x 12.2x
PBR 1.38x - 1.1x 1.09x 1.14x 1.42x 1.38x 1.32x
PEG - -0.5x 1.33x 0.9x 0.4x 2.84x -1.41x 4.05x
Capitalization / Revenue 4.58x 3.44x 3.91x 3.75x 4.21x 5.06x 5.07x 4.96x
EV / Revenue 4.95x 3.44x 4.34x 3.94x 4.16x 4.7x 4.57x 4.34x
EV / EBITDA 9.51x - - 7.91x 9.32x 9.19x 8.98x 8.61x
EV / EBIT 9.49x 7.36x 9.28x 8.31x 8.69x 9.53x 9.46x 9.04x
EV / FCF 8.31x - 9.33x 9.06x 8.23x 12.4x 10.6x 10.4x
FCF Yield 12% - 10.7% 11% 12.2% 8.04% 9.41% 9.66%
Dividend per Share 2 4.1 4.1 4.1 4.25 4.25 4.97 5.135 5.253
Rate of return 5.65% 7.74% 6.66% 6.62% 6.02% 5.39% 5.57% 5.69%
EPS 2 6.75 5.28 5.71 6.37 7.74 8.054 7.332 7.554
Distribution rate 60.7% 77.7% 71.8% 66.7% 54.9% 61.7% 70% 69.5%
Net sales 1 3,204 3,137 3,204 3,497 3,417 3,674 3,668 3,752
EBITDA 1 1,667 - - 1,743 1,525 1,877 1,868 1,890
EBIT 1 1,670 1,466 1,498 1,660 1,636 1,811 1,774 1,802
Net income 1 1,369 1,074 1,165 1,305 1,592 1,645 1,481 1,521
Net Debt 1 1,170 - 1,376 662.9 -173.8 -1,344 -1,823 -2,317
Reference price 2 72.55 53.00 61.60 64.20 70.60 92.25 92.25 92.25
Nbr of stocks (in thousands) 202,433 203,604 203,350 204,461 203,768 201,581 - -
Announcement Date 9/2/22 8/2/23 7/2/24 4/2/25 3/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.52x7.16x13.65x4.18% 98.75B
25.97x13.06x19.57x0.81% 86.93B
21.22x6.03x16.76x4.36% 28.25B
11.27x4.61x9.03x5.48% 21.11B
16.48x1.83x6.57x4.03% 16.62B
13.12x3.82x11.5x3.51% 14.26B
14.75x9.46x - 9.91% 13.91B
31.07x18.18x25.39x - 11.26B
Average 19.30x 8.02x 14.64x 4.61% 36.39B
Weighted average by Cap. 21.08x 8.69x 15.42x 3.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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