Company Valuation: International Consolidated Airlines Group, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 8,858 8,416 6,917 8,780 17,724 22,883 22,883 -
Change - -4.99% -17.81% 26.93% 101.87% 29.11% 0% -
Enterprise Value (EV) 1 18,620 20,083 17,302 18,025 25,241 29,832 28,341 26,682
Change - 7.86% -13.85% 4.18% 40.03% 18.19% -5% -5.85%
P/E ratio -0.91x -2.87x 22.9x 3.53x 6.58x 7.39x 6.79x 6.09x
PBR 6.76x 10x 3.43x 2.68x 2.87x 3x 2.27x 1.78x
PEG - 0x -0x 0x 0.68x 0.3x 0.76x 0.5x
Capitalization / Revenue 1.13x 1x 0.3x 0.3x 0.55x 0.69x 0.66x 0.64x
EV / Revenue 2.39x 2.38x 0.75x 0.61x 0.79x 0.89x 0.82x 0.74x
EV / EBITDA -8.22x -19.7x 5.24x 3.24x 3.71x 3.94x 3.57x 3.21x
EV / EBIT -4.27x -6.76x 14.1x 5.14x 5.89x 5.99x 5.44x 4.91x
EV / FCF -3.56x -22.7x 9.63x 7.51x 6.48x 11.4x 8.69x 8.34x
FCF Yield -28.1% -4.41% 10.4% 13.3% 15.4% 8.75% 11.5% 12%
Dividend per Share 2 - - - - 0.09 0.1067 0.1255 0.1402
Rate of return - - - - 2.47% 2.13% 2.5% 2.8%
EPS 2 -1.962 -0.591 0.061 0.506 0.555 0.6779 0.7382 0.823
Distribution rate - - - - 16.2% 15.7% 17% 17%
Net sales 1 7,806 8,455 23,066 29,453 32,100 33,341 34,547 35,958
EBITDA 1 -2,266 -1,017 3,303 5,570 6,807 7,566 7,939 8,310
EBIT 1 -4,365 -2,970 1,225 3,507 4,283 4,983 5,209 5,430
Net income 1 -6,923 -2,933 431 2,655 2,732 3,361 3,543 3,727
Net Debt 1 9,762 11,667 10,385 9,245 7,517 6,949 5,458 3,800
Reference price 2 1.784 1.696 1.396 1.786 3.651 5.012 5.012 5.012
Nbr of stocks (in thousands) 4,966,379 4,961,189 4,954,313 4,915,537 4,854,924 4,565,128 4,565,128 -
Announcement Date 26/02/21 25/02/22 24/02/23 29/02/24 28/02/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.6x0.91x4.03x2.07% 27.99B
10.22x1.04x7.54x0.92% 48.65B
11.63x0.95x6.95x-.--% 37.62B
13.63x1.77x7.27x1.65% 35.24B
1938.35x1.97x10.16x-.--% 21.42B
63.03x2.54x12.34x0.2% 21.16B
121.93x1.96x9.69x0.06% 19.97B
150.07x2.25x10.31x-.--% 19.78B
12.24x1.5x5.32x2.7% 18.69B
24.64x1.39x6.67x3.09% 16.9B
Average 235.33x 1.63x 8.03x 1.07% 26.74B
Weighted average by Cap. 188.96x 1.52x 7.80x 1.01%

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 International Consolidated Airlines Group, S.A.