Company Valuation: CEZ,

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 442,837 413,283 514,533 513,727 695,169 726,304 - -
Change - -6.67% 24.5% -0.16% 35.32% 4.48% - -
Enterprise Value (EV) 1 553,537 413,283 672,551 719,552 926,659 948,255 957,057 960,448
Change - -25.34% 62.73% 6.99% 28.78% 2.33% 0.93% 0.35%
P/E 45.2x 5.12x 17.4x 17.2x 24.7x 20.7x 23.4x 25.8x
PBR 2.76x - 2.11x 2.15x 2.88x 2.86x 2.81x 2.78x
PEG - 0x -0.3x 11.83x -4.05x 0.8x -2x -2.86x
Capitalization / Revenue 1.94x 1.43x 1.51x 1.49x 2.09x 2.35x 2.43x 2.48x
EV / Revenue 2.43x 1.43x 1.97x 2.09x 2.78x 3.06x 3.2x 3.28x
EV / EBITDA 8.75x 3.14x 5.39x 5.23x 6.76x 8.48x 9.05x 9.33x
EV / EBIT 34.4x 4.05x 7.96x 7.7x 11.6x 16.3x 17.9x 19x
EV / FCF 20.2x - 7.25x 10.2x 36.7x 27.8x 49.8x 30.4x
FCF Yield 4.95% - 13.8% 9.77% 2.72% 3.6% 2.01% 3.29%
Dividend per Share 2 44 - 52 47 47 51.62 45.13 40.62
Rate of return 5.32% - 5.43% 4.91% 3.63% 3.82% 3.34% 3%
EPS 2 18.3 150.5 55 55.8 52.4 65.28 57.75 52.54
Distribution rate 240% - 94.5% 84.2% 89.7% 79.1% 78.1% 77.3%
Net sales 1 227,793 288,485 340,585 344,709 333,388 309,683 299,036 292,552
EBITDA 1 63,240 131,568 124,839 137,462 137,038 111,831 105,712 102,972
EBIT 1 16,098 101,927 84,512 93,443 80,145 58,032 53,485 50,676
Net income 1 9,791 80,786 29,524 29,933 28,107 35,369 30,429 27,820
Net Debt 1 110,700 - 158,018 205,825 231,490 221,951 230,753 234,144
Reference price 2 827.00 770.00 958.50 957.00 1,295.00 1,353.00 1,353.00 1,353.00
Nbr of stocks (in thousands) 535,474 536,731 536,810 536,810 536,810 536,810 - -
Announcement Date 15/3/22 21/3/23 21/3/24 13/3/25 12/3/26 - - -
1CZK in Million2CZK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.73x3.06x8.48x3.82% 34.52B
32.19x5.45x39.63x0.2% 264B
21.59x9.15x15.6x2.84% 181B
20.31x4.2x11.56x3.52% 154B
13.47x1.93x6.89x5.24% 113B
21.19x6.03x13.31x3.2% 109B
18.56x5.64x11.34x3.49% 97.78B
21.04x3.26x12.98x0.65% 93.83B
19.93x5.21x12.31x3% 69.6B
19.23x6.49x13.33x3.86% 60.84B
Average 20.82x 5.04x 14.54x 2.98% 117.76B
Weighted average by Cap. 22.44x 5.38x 18.32x 2.57%

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