Company Valuation: Icade

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,776 3,044 2,693 1,741 1,668 1,353 - -
Change - -36.26% -11.54% -35.33% -4.21% -18.91% - -
Enterprise Value (EV) 1 11,709 9,921 6,141 5,195 5,114 4,405 4,177 3,869
Change - -15.28% -38.1% -15.41% -1.55% -13.88% -5.17% -7.37%
P/E 11.8x 56.4x -2.15x -6.31x -13.6x -15.3x 27.6x 6.2x
PBR 0.71x 0.46x 0.54x 0.4x 0.43x 0.38x 0.36x 0.36x
PEG - -0.7x 0x 0.1x 0.2x 0.5x -0x 0x
Capitalization / Revenue 2.88x 1.68x 1.76x 1.11x 1.15x 1.05x 1.01x 0.97x
EV / Revenue 7.05x 5.46x 4.02x 3.3x 3.53x 3.41x 3.12x 2.79x
EV / EBITDA 18.7x 15.3x 21.7x 21.7x 17.5x 16.4x 16x 14.4x
EV / EBIT 14.6x 25.9x 22.7x 18.7x 17.4x 15.2x 14x 13.2x
EV / FCF -23.5x -42.4x 4.66x 31.3x 21.6x 6.6x 8.37x 6.76x
FCF Yield -4.25% -2.36% 21.5% 3.2% 4.63% 15.1% 11.9% 14.8%
Dividend per Share 2 4.2 4.33 4.84 4.31 1.92 1.767 1.839 1.941
Rate of return 6.66% 10.8% 13.6% 18.8% 8.73% 9.91% 10.3% 10.9%
EPS 2 5.328 0.7136 -16.5 -3.64 -1.62 -1.166 0.6475 2.876
Distribution rate 78.8% 607% -29.3% -118% -119% -152% 284% 67.5%
Net sales 1 1,661 1,816 1,528 1,572 1,450 1,292 1,338 1,388
EBITDA 1 625.5 650.3 283 239 292.5 268.4 261.4 269.3
EBIT 1 800.6 382.5 270.1 277.5 294.6 289.5 299.1 293
Net income 1 400.1 54.1 -1,250 -275.9 -123 -76.37 130.7 184.2
Net Debt 1 6,933 6,876 3,448 3,454 3,446 3,052 2,824 2,516
Reference price 2 63.10 40.24 35.54 22.98 22.00 17.84 17.84 17.84
Nbr of stocks (in thousands) 75,691 75,652 75,770 75,778 75,825 75,826 - -
Announcement Date 21/02/22 20/02/23 19/02/24 18/02/25 17/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.33x13.42x15.67x5.32% 16.01B
8.24x13.71x17.7x6.38% 6.61B
22.56x14.45x15.9x4.27% 6.42B
11.94x14.4x15.35x5.35% 6.3B
8.45x16.4x19.76x8.23% 5.86B
10.03x14.45x15.52x7.07% 5.84B
8.4x13.78x17.69x5.93% 5.75B
12.69x12.21x13.05x5.45% 5.25B
Average 13.20x 14.10x 16.33x 6% 7.26B
Weighted average by Cap. 15.01x 14.00x 16.25x 5.87%

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