Company Valuation: Ernst Russ AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204.3 144.7 136.5 192.7 234.5 295.8 - -
Change - -29.21% -5.63% 41.16% 21.68% 26.15% - -
Enterprise Value (EV) 1 257.1 144.7 82.85 93.57 122 293.3 134.2 146.4
Change - -43.73% -42.72% 12.93% 30.38% 140.42% -54.25% 9.07%
P/E 12.9x 3.05x 2.45x 4.54x 3.19x 8.91x 10x 10.1x
PBR 2.83x - 0.8x 0.74x 0.94x 1.03x 0.9x 0.84x
PEG - 0x 0.2x -0.2x 0x -0.2x -0.9x -26.51x
Capitalization / Revenue 2.21x - 0.67x 1.12x 1.48x 1.92x 1.83x 1.79x
EV / Revenue 2.79x - 0.41x 0.54x 0.77x 1.9x 0.83x 0.89x
EV / EBITDA 6.51x - 0.71x 1.01x 0.97x 3.48x 1.9x 2.14x
EV / EBIT 8.35x - 0.96x 1.38x 1.27x 5.64x 3.39x 3.72x
EV / FCF 7.03x - - - 2.96x 6.56x 3.38x 3.44x
FCF Yield 14.2% - - - 33.8% 15.2% 29.6% 29.1%
Dividend per Share 2 - - 1 0.2 0.25 0.3167 0.3 0.3167
Rate of return - - 24.5% 3.5% 3.59% 3.61% 3.42% 3.61%
EPS 2 0.49 1.46 1.66 1.26 2.18 0.985 0.8767 0.8733
Distribution rate - - 60.2% 15.9% 11.5% 32.1% 34.2% 36.3%
Net sales 1 92.28 - 202.7 172.7 158.1 154.1 161.7 164.9
EBITDA 1 39.49 - 116.6 93 126.2 84.4 70.53 68.53
EBIT 1 30.8 - 86.6 67.7 96.4 52.03 39.57 39.33
Net income 1 15.78 47.27 55.08 42.47 73.48 33.3 29.5 29.37
Net Debt 1 52.75 - -53.66 -99.14 -112.5 -2.5 -161.6 -149.4
Reference price 2 6.300 4.460 4.075 5.720 6.960 8.780 8.780 8.780
Nbr of stocks (in thousands) 32,434 32,434 33,500 33,689 33,689 33,689 - -
Announcement Date 24/03/22 22/03/23 18/03/24 25/03/25 24/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.55x3.74x - 2.27% 168B
19.54x5.56x11.89x2.14% 166B
17.64x7.7x - 1.42% 110B
23.17x12.1x20.75x4.21% 76.25B
14.34x5.42x - 1.83% 52.71B
12.11x1.86x5.7x1.21% 48.75B
5.2x5.38x3.87x3.51% 36.66B
14.49x5.28x16.45x1.82% 33.79B
Average 15.25x 5.88x 11.73x 2.3% 86.61B
Weighted average by Cap. 16.74x 5.88x 12.54x 2.25%

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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