Company Valuation: SGS SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,837 16,107 13,370 16,937 17,587 18,566 - -
Change - -29.47% -16.99% 26.68% 3.84% 5.57% - -
Enterprise Value (EV) 1 24,528 18,930 16,209 19,607 20,153 21,593 21,129 20,948
Change - -22.82% -14.38% 20.97% 2.78% 7.14% -2.15% -0.86%
P/E 37.3x 27.3x 24.3x 29.4x 26.3x 25.3x 22.6x 21x
PBR 20.4x 23.5x 29.1x 21.4x 19.5x 13.7x 10.6x 8.7x
PEG - -7.16x -4.88x 8.79x 2.2x 3.45x 1.9x 2.9x
Capitalization / Revenue 3.57x 2.43x 2.02x 2.49x 2.53x 2.45x 2.3x 2.17x
EV / Revenue 3.83x 2.85x 2.45x 2.89x 2.9x 2.85x 2.62x 2.45x
EV / EBITDA 16.2x 12.7x 11.4x 13.3x 13.1x 12.8x 11.7x 10.9x
EV / EBIT 23.2x 18.5x 16.7x 18.9x 18.2x 17.7x 15.9x 14.7x
EV / FCF 38.6x 37.3x 25.5x 26.2x 24x 25.6x 22.2x 20.3x
FCF Yield 2.59% 2.68% 3.92% 3.81% 4.17% 3.9% 4.51% 4.92%
Dividend per Share 2 3.2 3.2 3.2 3.2 3.2 3.19 3.266 3.372
Rate of return 2.63% 3.72% 4.41% 3.52% 3.52% 3.4% 3.48% 3.59%
EPS 2 3.272 3.147 2.99 3.09 3.46 3.714 4.165 4.468
Distribution rate 97.8% 102% 107% 104% 92.5% 85.9% 78.4% 75.5%
Net sales 1 6,405 6,642 6,622 6,794 6,945 7,589 8,080 8,541
EBITDA 1 1,515 1,489 1,424 1,478 1,539 1,688 1,813 1,926
EBIT 1 1,055 1,023 971 1,040 1,108 1,222 1,330 1,429
Net income 1 613 588 553 581 668 729.2 833.2 904.6
Net Debt 1 1,691 2,823 2,839 2,670 2,566 3,027 2,563 2,381
Reference price 2 121.88 86.00 72.54 90.88 90.86 93.96 93.96 93.96
Nbr of stocks (in thousands) 187,376 187,292 184,309 186,371 193,566 197,600 - -
Announcement Date 27/1/22 26/1/23 26/1/24 11/2/25 11/2/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.3x2.85x12.79x3.4% 22.35B
28.72x14.64x20.81x0.75% 661B
35.48x6.5x23.08x1.01% 78.15B
-102x23.18x55.75x-.--% 63.67B
22.48x4.44x9.77x0.75% 64.37B
10.43x1.39x7.15x1.06% 45.39B
44.98x1.66x9.29x-.--% 44.76B
19.3x3.31x7.89x1.64% 30.98B
19.55x6x11.44x-.--% 25.59B
9.63x2.55x6.15x-.--% 24.13B
Average 11.39x 6.65x 16.41x 0.86% 105.99B
Weighted average by Cap. 19.89x 11.76x 20.23x 0.75%

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