Company Valuation: Ipsos SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,832 2,598 2,451 1,977 1,478 1,545 - -
Change - 41.8% -5.68% -19.33% -25.22% 4.52% - -
Enterprise Value (EV) 1 2,150 2,598 2,695 2,147 1,837 1,900 1,776 1,641
Change - 20.84% 3.72% -20.34% -14.45% 3.45% -6.52% -7.6%
P/E 10.2x 12.3x 15.8x 9.85x 8.02x 7.59x 6.95x 6.51x
PBR 1.37x 1.75x 1.73x 1.25x 0.94x 0.92x 0.87x 0.78x
PEG - 0.7x -0.7x 0.3x -0.96x 0.6x 0.75x 0.98x
Capitalization / Revenue 0.85x 1.08x 1.03x 0.81x 0.59x 0.6x 0.58x 0.57x
EV / Revenue 1x 1.08x 1.13x 0.88x 0.73x 0.74x 0.67x 0.6x
EV / EBITDA 6.02x 6.45x 6.21x 5.23x 4.47x 4.75x 4.19x 3.69x
EV / EBIT 7.75x 8.26x 8.63x 6.72x 5.94x 6.17x 5.4x 4.72x
EV / FCF 7.11x 9.62x 11.9x 8.01x 8.39x 9.6x 8.08x 6.78x
FCF Yield 14.1% 10.4% 8.37% 12.5% 11.9% 10.4% 12.4% 14.7%
Dividend per Share 2 1.15 1.35 1.65 1.85 2 2.134 2.302 2.45
Rate of return 2.79% 2.31% 2.91% 4.03% 5.84% 5.79% 6.25% 6.65%
EPS 2 4.04 4.74 3.59 4.66 4.27 4.853 5.301 5.653
Distribution rate 28.5% 28.5% 46% 39.7% 46.8% 44% 43.4% 43.3%
Net sales 1 2,147 2,405 2,390 2,441 2,525 2,566 2,642 2,723
EBITDA 1 357.2 402.9 434.1 410.7 410.6 399.7 424.1 445.3
EBIT 1 277.4 314.7 312.4 319.5 309.3 307.7 329.2 347.4
Net income 1 183.9 215.2 159.7 204.5 186.6 196 222 237.1
Net Debt 1 317.8 - 244.3 169.8 358.3 354.8 230.8 95.75
Reference price 2 41.25 58.50 56.75 45.92 34.26 36.82 36.82 36.82
Nbr of stocks (in thousands) 44,424 44,419 43,186 43,057 43,153 41,968 - -
Announcement Date 23/02/22 15/02/23 21/02/24 26/02/25 24/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.42x1.59x7.2x3.88% 29.34B
9.58x1.07x5.99x4.15% 22.67B
12.06x5.28x9.22x6.99% 10.5B
16.01x1.31x4.12x2.9% 5.94B
42.46x0.71x4.23x4.01% 5.47B
-57.17x1.85x7.77x0% 5.42B
15.24x0.51x5.17x1.58% 4.2B
35.59x4.63x12.61x-.--% 3.46B
Average 11.02x 2.12x 7.04x 2.94% 10.87B
Weighted average by Cap. 11.16x 1.91x 6.88x 3.76%

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