Company Valuation: Forus S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 284,316 305,510 421,201 443,507 600,940 467,829 - -
Change - 7.45% 37.87% 5.3% 35.5% -22.15% - -
Enterprise Value (EV) 1 312,194 354,083 467,601 517,002 680,297 539,430 539,867 540,459
Change - 13.42% 32.06% 10.56% 31.59% -20.71% 0.08% 0.11%
P/E 7.22x 9.69x 14.6x 14.7x 21.9x 21.5x 17.2x 15.3x
PBR 1.48x 1.55x 1.98x 1.88x 2.35x 1.92x 1.92x 1.94x
PEG - -0.5x -1.71x 2.98x -2.35x -1x 0.7x 1.2x
Capitalization / Revenue 0.96x 0.97x 1.29x 1.18x 1.49x 1.13x 1.08x 1.02x
EV / Revenue 1.06x 1.12x 1.43x 1.38x 1.68x 1.3x 1.24x 1.18x
EV / EBITDA 4.36x 5.7x 8.29x 7.91x 10.1x 8.37x 7.66x 7.05x
EV / EBIT 5.96x 11.1x 14.4x 13.2x 17.9x 16.7x 14.1x 12.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 60.95 - - - - 128.4 102.7 128.6
Rate of return 5.54% - - - - 7.09% 5.67% 7.11%
EPS 2 152.4 122 111.6 117.1 106.2 84.25 105.1 118.4
Distribution rate 40% - - - - 152% 97.7% 109%
Net sales 1 294,690 315,055 326,555 375,983 403,758 413,950 435,096 457,640
EBITDA 1 71,597 62,158 56,386 65,367 67,211 64,444 70,513 76,639
EBIT 1 52,371 32,011 32,531 39,058 38,013 32,266 38,328 42,457
Net income 1 39,350 31,543 28,860 30,093 27,452 21,861 27,276 30,729
Net Debt 1 27,878 48,572 46,400 73,495 79,357 71,601 72,038 72,630
Reference price 2 1,100.00 1,182.00 1,629.60 1,715.90 2,325.00 1,810.00 1,810.00 1,810.00
Nbr of stocks (in thousands) 258,469 258,469 258,469 258,469 258,469 258,469 - -
Announcement Date 2/3/22 1/3/23 2/3/24 1/4/25 27/2/26 - - -
1CLP in Million2CLP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.37x1.3x8.33x7.13% 495M
23.92x3.63x12.93x3.73% 190B
40.54x4.98x20.62x0.92% 132B
26.81x2.73x17.55x0.77% 74.28B
44.61x2.51x9.57x1.48% 32.55B
20.65x1.41x7.98x4.51% 27.21B
14.29x2.79x10.73x1.65% 22.45B
17.76x2.49x11.18x2.1% 22.37B
21.93x1.3x11.1x-.--% 16.13B
15.42x1.96x8.22x4.56% 12.02B
Average 24.73x 2.51x 11.82x 2.68% 52.94B
Weighted average by Cap. 28.65x 3.46x 14.70x 2.27%

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

-40%: Exceptional extension
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