Real-time Estimate
Cboe BZX
18:14:15 01/05/2024 BST
|
5-day change
|
1st Jan Change
|
49.58
USD
|
-0.50%
|
|
-4.72%
|
+10.03%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
7,361
|
4,324
|
4,813
|
2,169
|
2,910
|
3,229
|
-
|
-
|
Enterprise Value (EV)
1 |
12,794
|
9,173
|
8,681
|
7,377
|
6,079
|
6,381
|
6,138
|
6,141
|
P/E ratio
|
29.5
x
|
12.6
x
|
11.4
x
|
-22.6
x
|
-4.95
x
|
-78.2
x
|
-24.9
x
|
-31.3
x
|
Yield
|
3.74%
|
5.94%
|
4.94%
|
10.9%
|
6.64%
|
6.02%
|
5.78%
|
5.65%
|
Capitalization / Revenue
|
7.48
x
|
5.37
x
|
7.1
x
|
3.23
x
|
4.26
x
|
5.55
x
|
5.53
x
|
5.45
x
|
EV / Revenue
|
13
x
|
11.4
x
|
12.8
x
|
11
x
|
8.9
x
|
11
x
|
10.5
x
|
10.4
x
|
EV / EBITDA
|
18.8
x
|
16.4
x
|
22.4
x
|
18.8
x
|
18.8
x
|
26.1
x
|
20.4
x
|
22.9
x
|
EV / FCF
|
104
x
|
95.5
x
|
-187
x
|
-299
x
|
-
|
10.9
x
|
14.6
x
|
14.7
x
|
FCF Yield
|
0.97%
|
1.05%
|
-0.54%
|
-0.33%
|
-
|
9.15%
|
6.86%
|
6.79%
|
Price to Book
|
1.51
x
|
1.01
x
|
0.99
x
|
0.47
x
|
0.82
x
|
0.97
x
|
1.04
x
|
1.13
x
|
Nbr of stocks (in thousands)
|
75,528
|
68,418
|
65,132
|
64,316
|
64,417
|
64,806
|
-
|
-
|
Reference price
2 |
97.45
|
63.19
|
73.89
|
33.72
|
45.17
|
49.83
|
49.83
|
49.83
|
Announcement Date
|
22/01/20
|
27/01/21
|
26/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
983.6
|
804.4
|
678.2
|
671.5
|
683.3
|
581.9
|
584
|
592.9
|
EBITDA
1 |
678.8
|
560.1
|
387.3
|
393.3
|
324.2
|
244.3
|
301.5
|
267.6
|
EBIT
1 |
394.8
|
246.4
|
170.5
|
178
|
76.35
|
405.3
|
330.2
|
371.7
|
Operating Margin
|
40.14%
|
30.63%
|
25.14%
|
26.51%
|
11.17%
|
69.65%
|
56.55%
|
62.69%
|
Earnings before Tax (EBT)
1 |
204.2
|
414.8
|
15.9
|
16.43
|
-154
|
51.6
|
-100.6
|
-85.6
|
Net income
1 |
255.5
|
356.1
|
434.8
|
-93.02
|
-579.5
|
-46.69
|
-101.2
|
-67.54
|
Net margin
|
25.98%
|
44.27%
|
64.11%
|
-13.85%
|
-84.81%
|
-8.02%
|
-17.33%
|
-11.39%
|
EPS
2 |
3.299
|
5.019
|
6.500
|
-1.490
|
-9.120
|
-0.6373
|
-1.998
|
-1.592
|
Free Cash Flow
1 |
123.5
|
96.1
|
-46.51
|
-24.68
|
-
|
583.5
|
421.1
|
416.8
|
FCF margin
|
12.56%
|
11.95%
|
-6.86%
|
-3.68%
|
-
|
100.28%
|
72.1%
|
70.31%
|
FCF Conversion (EBITDA)
|
18.19%
|
17.16%
|
-
|
-
|
-
|
238.89%
|
139.64%
|
155.75%
|
FCF Conversion (Net income)
|
48.33%
|
26.99%
|
-
|
-
|
-
|
-
|
-
|
-
|
Dividend per Share
2 |
3.643
|
3.751
|
3.647
|
3.690
|
3.000
|
3.000
|
2.881
|
2.814
|
Announcement Date
|
22/01/20
|
27/01/21
|
26/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
2021 Q3
|
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
---|
Net sales
1 |
155.4
|
150.1
|
156
|
155.2
|
163
|
197.3
|
195
|
185.9
|
151
|
151.4
|
141.5
|
148.2
|
144.8
|
140.5
|
155
|
EBITDA
1 |
66.43
|
84.25
|
83.29
|
101.1
|
103.4
|
105.6
|
99.66
|
104.6
|
62.31
|
55.79
|
64.39
|
98.36
|
98.96
|
96.62
|
91.58
|
EBIT
1 |
17.15
|
36.91
|
36.31
|
54.16
|
54.92
|
32.64
|
21.11
|
35.48
|
12.1
|
6.743
|
15.8
|
101
|
95.45
|
89.88
|
71.02
|
Operating Margin
|
11.04%
|
24.59%
|
23.27%
|
34.89%
|
33.7%
|
16.54%
|
10.82%
|
19.08%
|
8.02%
|
4.46%
|
11.17%
|
68.17%
|
65.92%
|
63.95%
|
45.82%
|
Earnings before Tax (EBT)
1 |
35.72
|
-23.48
|
19.26
|
32.73
|
9.052
|
-39.9
|
-36.87
|
-335.1
|
-35.06
|
-55.09
|
94.24
|
-25.8
|
-0.5
|
-16.3
|
-27.8
|
Net income
1 |
388.2
|
-51.27
|
7.751
|
-43.88
|
7.377
|
-64.28
|
-39.73
|
-360.2
|
-23.97
|
-155.6
|
13.14
|
-19.53
|
-18.14
|
-16.54
|
-35.1
|
Net margin
|
249.87%
|
-34.15%
|
4.97%
|
-28.26%
|
4.53%
|
-32.58%
|
-20.37%
|
-193.71%
|
-15.87%
|
-102.81%
|
9.29%
|
-13.18%
|
-12.52%
|
-11.77%
|
-22.65%
|
EPS
2 |
5.926
|
-0.8200
|
0.1100
|
-0.7000
|
0.1100
|
-1.010
|
-0.6300
|
-5.630
|
-0.3800
|
-2.450
|
0.2000
|
-0.1004
|
-0.2519
|
-0.3408
|
-1.030
|
Dividend per Share
2 |
0.9377
|
0.9174
|
0.9324
|
0.9320
|
0.9320
|
0.8936
|
0.8124
|
0.8100
|
0.8124
|
0.7500
|
0.7500
|
0.7500
|
0.7500
|
0.7500
|
0.7650
|
Announcement Date
|
20/10/21
|
26/01/22
|
20/04/22
|
20/07/22
|
19/10/22
|
25/01/23
|
19/04/23
|
19/07/23
|
18/10/23
|
24/01/24
|
17/04/24
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
5,433
|
4,850
|
3,869
|
5,209
|
3,169
|
3,151
|
2,909
|
2,912
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
8.004
x
|
8.659
x
|
9.987
x
|
13.24
x
|
9.776
x
|
12.9
x
|
9.647
x
|
10.88
x
|
Free Cash Flow
1 |
123
|
96.1
|
-46.5
|
-24.7
|
-
|
584
|
421
|
417
|
ROE (net income / shareholders' equity)
|
4.5%
|
6.88%
|
8.99%
|
-1.99%
|
-13.8%
|
-1.26%
|
-2.29%
|
-2.22%
|
ROA (Net income/ Total Assets)
|
2%
|
2.91%
|
3.82%
|
-0.79%
|
-5.3%
|
-0.1%
|
-1.25%
|
-1.22%
|
Assets
1 |
12,759
|
12,237
|
11,382
|
11,711
|
10,944
|
45,334
|
8,096
|
5,549
|
Book Value Per Share
2 |
64.50
|
62.70
|
74.30
|
71.20
|
55.10
|
51.30
|
48.00
|
44.20
|
Cash Flow per Share
2 |
4.610
|
7.390
|
3.620
|
4.060
|
-
|
3.220
|
3.870
|
4.200
|
Capex
1 |
253
|
458
|
302
|
301
|
260
|
79.9
|
122
|
164
|
Capex / Sales
|
25.72%
|
56.95%
|
44.6%
|
44.79%
|
38%
|
13.73%
|
20.87%
|
27.62%
|
Announcement Date
|
22/01/20
|
27/01/21
|
26/01/22
|
25/01/23
|
24/01/24
|
-
|
-
|
-
|
Last Close Price
49.83
USD Average target price
45.56
USD Spread / Average Target -8.58% Consensus |
1st Jan change
|
Capi.
|
---|
| +10.32% | 3.23B | | -11.80% | 9.72B | | -1.64% | 6.51B | | -8.85% | 4.96B | | -7.71% | 4.84B | | +10.79% | 4.08B | | -15.16% | 3.97B | | -2.43% | 4.07B | | -16.11% | 3.12B | | -0.60% | 3.05B |
Office REITs
|