Company Valuation: Tessenderlo Group nv

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,439 1,438 1,787 1,156 1,552 1,209 - -
Change - -0.07% 24.22% -35.31% 34.28% -22.07% - -
Enterprise Value (EV) 1 1,514 1,498 1,787 1,231 1,593 1,238 1,273 1,224
Change - -1.08% 19.29% -31.11% 29.45% -22.29% 2.83% -3.84%
P/E 7.65x 6.34x 16.2x 27x -19.6x 18.4x 13.6x 10.8x
PBR 1.27x 1.03x - 0.61x 0.94x 0.7x 0.68x 0.66x
PEG - 0.3x -0.2x -0.5x 0x -0x 0.4x 0.4x
Capitalization / Revenue 0.69x 0.56x 0.61x 0.44x 0.56x 0.43x 0.41x 0.39x
EV / Revenue 0.73x 0.58x 0.61x 0.46x 0.58x 0.44x 0.43x 0.4x
EV / EBITDA 4.27x 3.44x 5.61x 4.63x 5.53x 4.02x 3.92x 3.43x
EV / EBIT 6.77x 4.99x 14.9x 19.3x 20.5x 15.3x 10x 7.73x
EV / FCF - - 20.6x 8.06x 17.7x 13.1x 12x 10.3x
FCF Yield - - 4.85% 12.4% 5.66% 7.65% 8.33% 9.74%
Dividend per Share 2 - 0.75 - 0.75 0.75 0.765 0.7925 0.8425
Rate of return - 2.25% - 3.97% 2.86% 3.73% 3.87% 4.11%
EPS 2 4.36 5.26 1.74 0.7 -1.34 1.112 1.51 1.901
Distribution rate - 14.3% - 107% -56% 68.8% 52.5% 44.3%
Net sales 1 2,082 2,588 2,928 2,648 2,763 2,833 2,947 3,068
EBITDA 1 354.2 434.8 318.7 265.6 288.1 308.3 324.6 357.4
EBIT 1 223.8 300.1 120.1 63.8 77.9 80.75 126.9 158.3
Net income 1 - - 109.5 42.8 -81.1 55.93 70.94 97.21
Net Debt 1 74.8 59.5 - 75 41.3 28.66 63.7 14.82
Reference price 2 33.35 33.35 28.25 18.90 26.20 20.50 20.50 20.50
Nbr of stocks (in thousands) 43,155 43,123 63,241 61,147 59,230 58,993 - -
Announcement Date 24/3/22 23/3/23 27/3/24 26/3/25 26/3/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.44x0.44x4.02x3.73% 1.39B
19.33x3.42x9.7x2.05% 69.24B
12.19x0.93x7.73x4.42% 50.96B
56.02x8.98x38.24x0.97% 16.68B
12.9x0.86x6.01x2.82% 13.72B
11.88x0.74x4.79x2.83% 10.29B
15.62x0.71x7.68x3.16% 9.92B
36.11x1.65x8.74x2.1% 9.04B
4.53x0.65x2.7x4.85% 8.68B
31.82x4.35x18.63x0.36% 7.91B
Average 21.88x 2.27x 10.82x 2.73% 19.78B
Weighted average by Cap. 20.17x 2.61x 10.95x 2.79%

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 Tessenderlo Group nv
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