Company Valuation: CMB.TECH NV

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,789 3,384 3,564 1,973 2,763 5,782 - -
Change - 89.13% 5.34% -44.66% 40.08% 109.26% - -
Enterprise Value (EV) 1 3,352 4,900 4,036 4,556 8,179 10,748 10,371 9,949
Change - 46.17% -17.63% 12.87% 79.52% 31.41% -3.51% -4.07%
P/E -5.28x 16.6x 4.13x 2.29x 15.6x 4.16x 11.2x 12.6x
PBR 0.91x 1.56x 1.51x 1.67x 1.05x 1.61x 1.58x 1.48x
PEG - -0x 0x 0.58x -0.2x 0x -0.2x -1.1x
Capitalization / Revenue 4.26x 3.96x 2.88x 2.1x 1.66x 2.41x 2.53x 2.61x
EV / Revenue 7.99x 5.73x 3.26x 4.85x 4.91x 4.49x 4.53x 4.5x
EV / EBITDA 69.3x 11.6x 4.91x 3.9x 8.67x 6.14x 8.09x 8.04x
EV / EBIT -11.3x 24.7x 6.72x 4.54x 14.7x 7.36x 12.2x 12.4x
EV / FCF -7.64x 55.2x 2.37x -20.4x -14x 9.07x 15.2x 16.3x
FCF Yield -13.1% 1.81% 42.3% -4.9% -7.12% 11% 6.57% 6.15%
Dividend per Share 2 0.12 0.12 2.34 - - 1.39 0.96 0.895
Rate of return 1.35% 0.72% 13.3% - - 7.09% 4.9% 4.57%
EPS 2 -1.68 1.01 4.27 4.44 0.61 4.71 1.75 1.557
Distribution rate -7.14% 11.9% 54.8% - - 29.5% 54.9% 57.5%
Net sales 1 419.8 854.7 1,237 940.2 1,666 2,395 2,288 2,213
EBITDA 1 48.35 421.1 821.7 1,169 942.9 1,750 1,282 1,238
EBIT 1 -296.6 198.2 600.7 1,002 555 1,461 847.3 804.1
Net income 1 -339.2 202.9 862.3 870.8 161.7 1,290 535.3 514.8
Net Debt 1 1,563 1,516 472.1 2,583 5,416 4,966 4,589 4,167
Reference price 2 8.87 16.77 17.65 10.16 9.52 19.60 19.60 19.60
Nbr of stocks (in thousands) 201,678 201,784 201,913 194,217 290,170 290,170 - -
Announcement Date 03/02/22 02/02/23 01/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
4.16x4.95x6.09x7.09% 5.69B
23.4x3.18x12.8x5.76% 106B
28.93x9.82x14.16x2.94% 87.62B
12.91x1.85x10.67x5.78% 83.81B
20x5.51x11.12x3.87% 68.52B
21.19x9.31x12.54x4.13% 63.61B
25.35x4.25x13.65x1.75% 61.26B
16.39x2.15x10.66x4.55% 59.71B
13.52x6.43x11.61x7.79% 59.23B
14.01x4.04x11.36x4.95% 31.78B
Average 17.99x 5.15x 11.46x 4.86% 62.7B
Weighted average by Cap. 20.11x 5.18x 12.13x 4.65%

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 CMB.TECH NV
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