Company Valuation: Amundi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,686 10,791 12,526 13,126 14,386 18,747 - -
Change - -26.52% 16.08% 4.79% 9.6% 30.31% - -
Enterprise Value (EV) 1 15,857 10,791 13,903 13,789 14,212 17,403 16,924 16,430
Change - -31.95% 28.84% -0.82% 3.07% 22.45% -2.76% -2.92%
P/E 10.7x 10x 10.8x 10.1x 9.12x 11.5x 12.7x 12.3x
PBR 1.38x - 1.1x 1.09x 1.14x 1.43x 1.39x 1.33x
PEG - -0.5x 1.33x 0.9x 0.4x 2.84x -1.42x 4.08x
Capitalization / Revenue 4.58x 3.44x 3.91x 3.75x 4.21x 5.1x 5.11x 5x
EV / Revenue 4.95x 3.44x 4.34x 3.94x 4.16x 4.74x 4.61x 4.38x
EV / EBITDA 9.51x - - 7.91x 9.32x 9.27x 9.06x 8.69x
EV / EBIT 9.49x 7.36x 9.28x 8.31x 8.69x 9.61x 9.54x 9.12x
EV / FCF 8.31x - 9.33x 9.06x 8.23x 12.5x 10.7x 10.5x
FCF Yield 12% - 10.7% 11% 12.2% 7.97% 9.33% 9.57%
Dividend per Share 2 4.1 4.1 4.1 4.25 4.25 4.97 5.135 5.253
Rate of return 5.65% 7.74% 6.66% 6.62% 6.02% 5.34% 5.52% 5.65%
EPS 2 6.75 5.28 5.71 6.37 7.74 8.054 7.332 7.554
Distribution rate 60.7% 77.7% 71.8% 66.7% 54.9% 61.7% 70% 69.5%
Net sales 1 3,204 3,137 3,204 3,497 3,417 3,674 3,668 3,752
EBITDA 1 1,667 - - 1,743 1,525 1,877 1,868 1,890
EBIT 1 1,670 1,466 1,498 1,660 1,636 1,811 1,774 1,802
Net income 1 1,369 1,074 1,165 1,305 1,592 1,645 1,481 1,521
Net Debt 1 1,170 - 1,376 662.9 -173.8 -1,344 -1,823 -2,317
Reference price 2 72.55 53.00 61.60 64.20 70.60 93.00 93.00 93.00
Nbr of stocks (in thousands) 202,433 203,604 203,350 204,461 203,768 201,581 - -
Announcement Date 09/02/22 08/02/23 07/02/24 04/02/25 03/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.02x7.32x13.95x4.08% 101B
27.04x - - 0.78% 90.51B
21.64x6.09x16.94x4.28% 28.57B
11.55x4.74x9.27x5.34% 21.5B
16.94x1.85x6.62x3.92% 17.09B
13.4x3.9x11.74x3.44% 14.56B
14.8x9.47x - 9.88% 13.96B
32.39x19.01x26.54x - 11.75B
Average 19.85x 7.48x 14.18x 4.53% 37.38B
Weighted average by Cap. 21.77x 7.00x 13.83x 3.39%

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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