Company Valuation: Imerys

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,096 3,073 2,403 2,381 2,021 1,894 - -
Change - -0.75% -21.8% -0.91% -15.13% -6.27% - -
Enterprise Value (EV) 1 4,547 4,739 3,521 3,656 3,412 3,456 3,423 3,237
Change - 4.22% -25.7% 3.84% -6.67% 1.28% -0.97% -5.43%
P/E 13.1x 13.2x 47.5x -25.2x -4.96x 15.4x 12.6x 10.5x
PBR 0.97x 0.92x 0.77x 0.73x 0.78x 0.7x 0.68x 0.64x
PEG - -12.28x -0.6x 0x -0x -0x 0.6x 0.5x
Capitalization / Revenue 0.71x 0.72x 0.63x 0.66x 0.6x 0.55x 0.53x 0.51x
EV / Revenue 1.04x 1.11x 0.93x 1.01x 1.01x 1.01x 0.96x 0.88x
EV / EBITDA 5.98x 6.58x 5.56x 5.42x 6.25x 6.16x 5.79x 5.35x
EV / EBIT 10.1x 10.8x 9.65x 9.28x 13.3x 13.5x 12.2x 10.7x
EV / FCF 22.1x 103x 16.5x 32.1x 30.5x 24x 24x 18.4x
FCF Yield 4.53% 0.97% 6.04% 3.12% 3.27% 4.17% 4.17% 5.43%
Dividend per Share 2 1.55 3.85 1.35 1.45 0.75 0.7773 0.8717 0.9449
Rate of return 4.24% 10.6% 4.74% 5.14% 3.13% 3.46% 3.88% 4.21%
EPS 2 2.79 2.76 0.6 -1.12 -4.83 1.453 1.781 2.129
Distribution rate 55.6% 139% 225% -129% -15.5% 53.5% 48.9% 44.4%
Net sales 1 4,383 4,282 3,794 3,605 3,384 3,435 3,547 3,697
EBITDA 1 761 720 633 675 546 561 591.5 605
EBIT 1 452 438.8 364.7 394 257.3 255.8 281.1 302.8
Net income 1 240 237.2 51.3 -95 -408.8 118 156.3 193
Net Debt 1 1,451 1,666 1,118 1,275 1,391 1,562 1,528 1,342
Reference price 2 36.54 36.34 28.48 28.20 23.94 22.44 22.44 22.44
Nbr of stocks (in thousands) 84,726 84,553 84,368 84,434 84,414 84,414 - -
Announcement Date 16/02/22 16/02/23 21/02/24 20/02/25 19/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.28x1x6.12x3.5% 2.13B
25.71x9.94x15.22x2.01% 174B
23.34x3.47x8.31x0.86% 103B
11.21x1.3x5.37x3.17% 51.44B
26.02x5.12x7.75x1.78% 49.59B
14.59x4.34x7.12x5.48% 24.15B
72.65x4.14x12.53x0.03% 22.86B
19.37x3.54x12.1x0.98% 21.78B
6.88x0.28x7.75x6.18% 18.67B
Average 23.89x 3.68x 9.14x 2.66% 51.96B
Weighted average by Cap. 24.25x 5.75x 10.78x 2.07%

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