Company Valuation: Subsea 7 S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 3,058 2,119 3,330 4,391 4,681 7,945 7,945 -
Change - -30.72% 57.16% 31.86% 6.61% 69.71% 0% -
Enterprise Value (EV) 1 2,756 1,943 3,040 4,943 5,283 8,338 8,242 7,751
Change - -29.5% 56.47% 62.61% 6.87% 57.82% -1.15% -5.96%
P/E ratio -2.8x 65.2x 60.4x 292x 23.6x 17.9x 13.5x 13x
PBR 0.72x 0.51x 0.81x 1.01x 1.12x 1.84x 1.88x 1.73x
PEG - -1x 0.8x -4x 0x 0x 0.4x 3.65x
Capitalization / Revenue 0.88x 0.42x 0.65x 0.74x 0.68x 1.12x 1.08x 1.06x
EV / Revenue 0.79x 0.39x 0.59x 0.83x 0.77x 1.17x 1.12x 1.03x
EV / EBITDA 8.17x 3.73x 5.44x 6.92x 4.85x 5.8x 5.12x 4.74x
EV / EBIT -6.43x 27x 32.6x 47.2x 11.9x 11.1x 8.85x 8.11x
EV / FCF 9.52x 15.3x 11.9x 62.7x 10.2x 12.7x 11.7x 10.7x
FCF Yield 10.5% 6.54% 8.39% 1.59% 9.8% 7.85% 8.55% 9.32%
Dividend per Share 2 - 0.1121 - 0.5651 1.155 1.211 1.022 1.082
Rate of return - 1.56% - 3.87% 7.3% 4.52% 3.81% 4.03%
EPS 2 -3.67 0.11 0.19 0.05 0.67 1.498 1.993 2.064
Distribution rate - 102% - 1,130% 172% 80.8% 51.3% 52.4%
Net sales 1 3,466 5,010 5,136 5,974 6,837 7,101 7,365 7,524
EBITDA 1 337.1 521 559 714.4 1,090 1,438 1,611 1,634
EBIT 1 -428.4 72 93.2 104.7 445.5 750.9 931.1 956.3
Net income 1 -1,093 31.8 57.1 15.4 201.4 440.7 598.5 610.9
Net Debt 1 -302.6 -176 -290 552.3 602 393.5 297.8 -193.8
Reference price 2 10.27 7.17 11.47 14.61 15.84 26.83 26.83 26.83
Nbr of stocks (in thousands) 297,673 295,466 290,206 300,454 295,614 296,136 296,136 -
Announcement Date 25/02/21 03/03/22 02/03/23 29/02/24 27/02/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.9x1.17x5.8x4.52% 7.94B
15.1x0.35x3.98x2.74% 6.8B
-54.56x1.34x10.94x1.38% 4.2B
49.51x1.85x3.08x5.11% 2.34B
6.71x0.29x3.44x8.65% 1.94B
64.1x - - 2.18% 1.34B
7.18x1.65x3.17x4.66% 977M
16.71x1.12x2.74x1.22% 647M
13.31x1.85x5.02x5.39% 564M
Average 15.11x 1.20x 4.77x 3.98% 2.97B
Weighted average by Cap. 9.58x 1.01x 5.53x 3.75%

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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