Company Valuation: SES S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,173 2,682 2,618 1,334 2,311 1,802 - -
Change - -15.46% -2.41% -49.05% 73.28% -22.01% - -
Enterprise Value (EV) 1 5,705 5,983 3,870 2,333 8,211 7,688 7,690 7,644
Change - 4.88% -35.32% -39.72% 251.99% -6.37% 0.03% -0.61%
P/E 7.58x -38.1x -2.79x - -21.3x -8.31x -18.8x 32.7x
PBR 0.71x 0.61x 0.9x 0.5x 1.17x 0.78x 0.9x 1.03x
PEG - 0x -0x - - -0x 0.3x -0x
Capitalization / Revenue 1.78x 1.38x 1.29x 0.67x 0.88x 0.53x 0.53x 0.53x
EV / Revenue 3.2x 3.08x 1.91x 1.17x 3.13x 2.27x 2.26x 2.24x
EV / EBITDA 3.06x 4.82x 3.78x 2.27x 6.87x 5.23x 5.12x 4.96x
EV / EBIT 12.2x 42.7x -5.64x 36.4x 128x 41.7x 30.4x 23.8x
EV / FCF 5.63x 49x 1.26x 3.32x 21.3x 13.3x 18.6x 16.7x
FCF Yield 17.8% 2.04% 79.4% 30.1% 4.7% 7.49% 5.36% 6.01%
Dividend per Share 2 0.5 0.5 0.5 0.5 0.5 0.5012 0.505 0.5131
Rate of return 7.17% 8.21% 8.39% 16.4% 9.04% 11.6% 11.7% 11.9%
EPS 2 0.92 -0.16 -2.14 - -0.26 -0.52 -0.23 0.132
Distribution rate 54.3% -313% -23.4% - -192% -96.4% -220% 389%
Net sales 1 1,782 1,944 2,030 2,001 2,627 3,388 3,403 3,408
EBITDA 1 1,862 1,242 1,025 1,028 1,196 1,471 1,502 1,540
EBIT 1 468 140 -686 64 64 184.5 252.8 320.6
Net income 1 453 -34 -905 15 -95 -151.4 -69.62 44.88
Net Debt 1 2,532 3,301 1,252 999 5,900 5,886 5,888 5,841
Reference price 2 6.972 6.090 5.960 3.058 5.530 4.322 4.322 4.322
Nbr of stocks (in thousands) 455,047 440,401 439,184 436,134 417,898 417,006 - -
Announcement Date 24/02/22 27/02/23 29/02/24 26/02/25 02/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-8.31x2.27x5.23x11.6% 2.01B
563.66x39.61x79.06x - 1,954B
36.04x5.63x23.35x0.23% 172B
13.21x2.5x6.4x2.83% 156B
10.44x2.22x5.98x5.31% 141B
30.76x5.57x9.76x1.69% 129B
7.57x1.33x4.83x5.96% 79.08B
18.36x2.13x8.06x3.8% 70.7B
13.88x2.29x7.5x3.03% 67.01B
13.07x1.41x4.77x3.48% 35.95B
Average 69.87x 6.50x 15.49x 4.21% 280.72B
Weighted average by Cap. 398.43x 28.59x 58.15x 2.97%

Y-o-Y evolution of P/E

Valuation ratios - P/E - SES S.A.

Historical PBR trend

Valuation ratios - PBR - SES S.A.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - SES S.A.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - SES S.A.


Year-on-year evolution of the Yield

Valuation ratios - Yield - SES S.A.