Company Valuation: Pirelli & C. S.p.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,108 4,004 4,927 5,474 6,353 7,431 - -
Change - -34.45% 23.05% 11.1% 16.06% 16.97% - -
Enterprise Value (EV) 1 9,015 6,557 7,189 7,400 7,455 8,646 8,312 7,937
Change - -27.27% 9.64% 2.94% 0.75% 15.97% -3.85% -4.51%
P/E 20.4x 9.53x 10.3x 11.6x 11.7x 14.8x 13.3x 12.4x
PBR 1.24x 0.75x 0.9x 0.93x 0.94x 1.13x 1.08x 1.04x
PEG - 0.2x 0.7x -5.57x 1.83x -2.02x 1.2x 1.62x
Capitalization / Revenue 1.15x 0.61x 0.74x 0.81x 0.94x 1.08x 1.04x 1.01x
EV / Revenue 1.69x 0.99x 1.08x 1.09x 1.1x 1.26x 1.17x 1.08x
EV / EBITDA 7.45x 4.66x 4.97x 4.87x 4.82x 5.49x 5.06x 4.66x
EV / EBIT 11.1x 6.71x 7.18x 6.98x 6.89x 7.92x 7.24x 6.66x
EV / FCF 20.1x 11.7x 13.9x 16.3x 9.64x 17.2x 15.3x 13.5x
FCF Yield 4.97% 8.56% 7.2% 6.15% 10.4% 5.81% 6.54% 7.4%
Dividend per Share 2 0.161 0.218 0.198 0.198 0.24 0.2588 0.2681 0.3019
Rate of return 2.64% 5.44% 4.02% 3.62% 4.1% 3.78% 3.91% 4.41%
EPS 2 0.3 0.42 0.48 0.47 0.5 0.4634 0.5149 0.5544
Distribution rate 53.7% 51.9% 41.3% 42.1% 48% 55.9% 52.1% 54.5%
Net sales 1 5,332 6,616 6,650 6,773 6,776 6,851 7,116 7,348
EBITDA 1 1,211 1,408 1,446 1,520 1,548 1,575 1,644 1,704
EBIT 1 815.8 977.8 1,002 1,060 1,081 1,092 1,148 1,192
Net income 1 302.8 435.9 479.1 501.1 530.7 500.5 547 580.1
Net Debt 1 2,907 2,553 2,262 1,926 1,102 1,214 881 506
Reference price 2 6.108 4.004 4.927 5.474 5.856 6.850 6.850 6.850
Nbr of stocks (in thousands) 1,000,000 1,000,000 1,000,000 1,000,000 1,084,882 1,084,882 - -
Announcement Date 23/02/22 22/02/23 06/03/24 26/02/25 25/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.78x1.26x5.49x3.78% 8.5B
6.33x0.54x3.24x4.02% 6.06B
23.88x1.63x11.58x0.17% 5.78B
27.16x3.4x15.51x0.85% 4.31B
20.97x1.16x7.11x3.82% 3.37B
16.48x0.93x7.26x1.45% 2.85B
12.79x0.95x7x2.66% 2.39B
9.35x - - 5.14% 2.17B
22.54x1.19x9.27x0.96% 1.61B
10.34x - - - 1.52B
Average 16.46x 1.38x 8.31x 2.54% 3.86B
Weighted average by Cap. 16.59x 1.40x 7.93x 2.62%

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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