Company Valuation: Noratis AG

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 77.44 85.76 92.51 54.93 30.84 13.31
Change - 10.74% 7.87% -40.63% -43.86% -56.85%
Enterprise Value (EV) 1 249.8 342.1 429.5 441.6 397.6 356.9
Change - 36.96% 25.52% 2.83% -9.97% -10.23%
P/E 8.95x 25.8x 9.77x 6.67x -2.9x -0.41x
PBR 1.46x 1.16x 1.14x 0.64x 0.54x 0.22x
PEG - -0.4x 0x -0.5x 0x -0x
Capitalization / Revenue 1.02x 2.99x 1.26x 0.64x 0.51x 0.2x
EV / Revenue 3.29x 11.9x 5.84x 5.16x 6.61x 5.36x
EV / EBITDA 15.7x 37.9x 26.8x 29.5x 40.4x 66.2x
EV / EBIT 15.9x 39.6x 27.1x 29.7x 40.7x 66.8x
EV / FCF -11.3x -3.47x -6.01x -9.91x 27.8x 8.15x
FCF Yield -8.85% -28.9% -16.6% -10.1% 3.6% 12.3%
Dividend per Share 2 0.8 0.5 0.55 - - -
Rate of return 3.72% 2.81% 2.86% - - -
EPS 2 2.401 0.69 1.966 1.709 -2.21 -3.74
Distribution rate 33.3% 72.5% 28% - - -
Net sales 1 75.95 28.7 73.6 85.61 60.18 66.56
EBITDA 1 15.95 9.032 16 14.98 9.837 5.394
EBIT 1 15.76 8.633 15.83 14.85 9.76 5.343
Net income 1 8.649 2.784 9.472 8.232 -10.94 -28.05
Net Debt 1 172.4 256.4 337 386.7 366.8 343.6
Reference price 2 21.5000 17.8000 19.2000 11.4000 6.4000 1.5400
Nbr of stocks (in thousands) 3,602 4,818 4,818 4,818 4,818 8,640
Announcement Date 30/04/20 10/05/21 11/05/22 22/06/23 27/05/24 13/06/25
1EUR in Million2EUR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.59M
62.84x - - - 67.89B
9.96x3.8x8.73x-.--% 23.01B
7.8x16.09x19.1x6.46% 19.54B
4.07x0.07x0.12x7.84% 13.9B
8.31x16.8x - 6.36% 8.29B
7.42x0.78x6.58x2.71% 5.49B
-1.92x1.64x-252.54x-.--% 5.27B
4.77x13.57x19.68x6.01% 4.4B
9.27x0.57x7.26x4.07% 4.06B
Average 12.50x 6.67x -27.30x 4.18% 15.19B
Weighted average by Cap. 32.02x 7.35x -7.96x 4.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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