Company Valuation: Pirelli & C. S.p.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,108 4,004 4,927 5,474 6,353 7,410 - -
Change - -34.45% 23.05% 11.1% 16.06% 16.63% - -
Enterprise Value (EV) 1 9,015 6,557 7,189 7,400 7,455 8,624 8,291 7,916
Change - -27.27% 9.64% 2.94% 0.75% 15.68% -3.86% -4.52%
P/E 20.4x 9.53x 10.3x 11.6x 11.7x 14.7x 13.3x 12.3x
PBR 1.24x 0.75x 0.9x 0.93x 0.94x 1.13x 1.08x 1.04x
PEG - 0.2x 0.7x -5.57x 1.83x -2.01x 1.2x 1.6x
Capitalization / Revenue 1.15x 0.61x 0.74x 0.81x 0.94x 1.08x 1.04x 1.01x
EV / Revenue 1.69x 0.99x 1.08x 1.09x 1.1x 1.26x 1.17x 1.08x
EV / EBITDA 7.45x 4.66x 4.97x 4.87x 4.82x 5.48x 5.04x 4.65x
EV / EBIT 11.1x 6.71x 7.18x 6.98x 6.89x 7.9x 7.22x 6.64x
EV / FCF 20.1x 11.7x 13.9x 16.3x 9.64x 17.2x 15.2x 13.5x
FCF Yield 4.97% 8.56% 7.2% 6.15% 10.4% 5.83% 6.56% 7.42%
Dividend per Share 2 0.161 0.218 0.198 0.198 0.24 0.2588 0.2681 0.3019
Rate of return 2.64% 5.44% 4.02% 3.62% 4.1% 3.79% 3.93% 4.42%
EPS 2 0.3 0.42 0.48 0.47 0.5 0.4634 0.5149 0.5544
Distribution rate 53.7% 51.9% 41.3% 42.1% 48% 55.9% 52.1% 54.5%
Net sales 1 5,332 6,616 6,650 6,773 6,776 6,851 7,116 7,348
EBITDA 1 1,211 1,408 1,446 1,520 1,548 1,575 1,644 1,704
EBIT 1 815.8 977.8 1,002 1,060 1,081 1,092 1,148 1,192
Net income 1 302.8 435.9 479.1 501.1 530.7 500.5 547 580.1
Net Debt 1 2,907 2,553 2,262 1,926 1,102 1,214 881 506
Reference price 2 6.108 4.004 4.927 5.474 5.856 6.830 6.830 6.830
Nbr of stocks (in thousands) 1,000,000 1,000,000 1,000,000 1,000,000 1,084,882 1,084,882 - -
Announcement Date 23/2/22 22/2/23 6/3/24 26/2/25 25/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.74x1.26x5.48x3.79% 8.48B
23.62x1.87x12.04x0.18% 5.8B
6.15x0.53x3.18x4.14% 5.85B
26.98x3.37x15.41x0.86% 4.28B
20.53x1.14x6.96x3.9% 3.31B
16.29x0.92x7.18x1.47% 2.82B
12.55x0.94x6.93x2.71% 2.35B
9.11x - - 5.28% 2.12B
22.34x1.18x9.2x0.96% 1.6B
10.46x - - - 1.54B
Average 16.28x 1.40x 8.30x 2.59% 3.81B
Weighted average by Cap. 16.46x 1.44x 7.98x 2.65%

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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  4. Valuation Pirelli & C. S.p.A.