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 1,402 - -
Change - -36.26% -11.54% -35.33% -4.21% -15.95% - -
Enterprise Value (EV) 1 11,709 9,921 6,141 5,195 5,114 4,454 4,226 3,918
Change - -15.28% -38.1% -15.41% -1.55% -12.91% -5.12% -7.29%
P/E 11.8x 56.4x -2.15x -6.31x -13.6x -15.9x 28.6x 6.43x
PBR 0.71x 0.46x 0.54x 0.4x 0.43x 0.39x 0.37x 0.36x
PEG - -0.7x 0x 0.1x 0.2x 0.6x -0x 0x
Capitalization / Revenue 2.88x 1.68x 1.76x 1.11x 1.15x 1.08x 1.05x 1.01x
EV / Revenue 7.05x 5.46x 4.02x 3.3x 3.53x 3.45x 3.16x 2.82x
EV / EBITDA 18.7x 15.3x 21.7x 21.7x 17.5x 16.6x 16.2x 14.6x
EV / EBIT 14.6x 25.9x 22.7x 18.7x 17.4x 15.4x 14.1x 13.4x
EV / FCF -23.5x -42.4x 4.66x 31.3x 21.6x 6.68x 8.47x 6.85x
FCF Yield -4.25% -2.36% 21.5% 3.2% 4.63% 15% 11.8% 14.6%
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% 9.56% 9.95% 10.5%
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 18.49 18.49 18.49
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.($)
23.48x13.44x15.7x5.3% 16.06B
8.58x14.01x18.09x6.13% 6.89B
23.07x14.8x16.13x4.18% 6.57B
12.2x14.6x15.56x5.23% 6.42B
8.73x16.6x20x8.01% 6.02B
10.29x14.68x15.76x6.89% 6B
8.63x13.98x17.94x5.77% 5.92B
12.32x11.97x12.8x5.61% 5.08B
Average 13.41x 14.26x 16.50x 5.89% 7.37B
Weighted average by Cap. 15.16x 14.16x 16.43x 5.78%

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