Company Valuation: Forbo Holding AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,953 1,616 1,489 1,063 1,233 1,319 - -
Change - -45.29% -7.84% -28.64% 16.03% 6.97% - -
Enterprise Value (EV) 1 2,942 1,635 1,460 953.5 1,190 1,235 1,182 1,127
Change - -44.44% -10.68% -34.7% 24.85% 3.75% -4.25% -4.67%
P/E 20.4x 15.2x 14.5x 11.2x 17.9x 17.9x 13.9x 12.5x
PBR 5.52x 2.8x 2.68x 1.7x 1.91x 1.87x 1.72x 1.58x
PEG - -0.7x 13.17x -1.59x -0.6x 3.29x 0.5x 1.2x
Capitalization / Revenue 2.35x 1.25x 1.27x 0.95x 1.14x 1.2x 1.17x 1.14x
EV / Revenue 2.35x 1.26x 1.24x 0.85x 1.1x 1.13x 1.05x 0.97x
EV / EBITDA 12.5x 8.45x 8.12x 5.73x 8.7x 8.55x 7.28x 6.44x
EV / EBIT 16.4x 12.3x 11.2x 7.91x 13.6x 13x 10.6x 9.17x
EV / FCF 23x 32.4x 12.6x - 37.6x 17.3x 14.8x 13.5x
FCF Yield 4.35% 3.09% 7.94% - 2.66% 5.78% 6.75% 7.43%
Dividend per Share 2 25 23 25 25 25 25.23 26.47 28.14
Rate of return 1.34% 2.11% 2.37% 3.31% 2.86% 2.74% 2.88% 3.06%
EPS 2 91.62 71.76 72.55 67.45 48.75 51.41 66.33 73.47
Distribution rate 27.3% 32.1% 34.5% 37.1% 51.3% 49.1% 39.9% 38.3%
Net sales 1 1,254 1,293 1,175 1,122 1,085 1,097 1,125 1,158
EBITDA 1 235.6 193.4 179.9 166.3 136.8 144.4 162.5 175
EBIT 1 179 132.6 129.9 120.6 87.8 94.84 111.3 122.9
Net income 1 141.2 101.4 102.3 95.1 68.9 71.9 92.56 99.92
Net Debt 1 -10.9 18.9 -29 -109.1 -42.5 -83.73 -136.3 -191.4
Reference price 2 1,870.00 1,088.00 1,054.00 755.00 874.00 920.00 920.00 920.00
Nbr of stocks (in thousands) 1,579 1,485 1,413 1,407 1,411 1,433 - -
Announcement Date 03/03/22 02/03/23 05/03/24 03/03/25 03/03/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.9x1.13x8.55x2.74% 1.59B
20.33x1.46x13.98x1.63% 43.2B
22.59x2.84x13.93x1.94% 39.22B
11.36x0.9x5.85x3.5% 36.95B
27.71x5.56x18.84x2.49% 20.99B
23.75x2.01x14.58x0.62% 20.72B
15.22x2.1x10.47x1.87% 13.43B
17.64x2.93x12.08x1.4% 13.05B
-21.93x1.44x16.21x3.03% 12.51B
20.49x3.23x10.69x0.63% 9.6B
Average 15.51x 2.36x 12.52x 1.98% 21.13B
Weighted average by Cap. 17.24x 2.29x 12.69x 2.05%

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 Forbo Holding AG