Company Valuation: Sulzer AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,036 2,438 2,915 4,439 4,972 5,179 - -
Change - -19.69% 19.56% 52.28% 12.02% 4.15% - -
Enterprise Value (EV) 1 3,103 2,673 3,087 4,539 5,240 5,270 5,077 4,865
Change - -13.86% 15.51% 47.03% 15.43% 0.59% -3.66% -4.18%
P/E ratio 2.18x 86.7x 12.9x 17.1x 17.2x 16x 14.4x 13.2x
PBR 2.38x 2.37x 2.65x 3.61x 3.85x 3.54x 3.1x 2.73x
PEG - -0.9x 0x 1.2x 1.4x 1.3x 1.3x 1.45x
Capitalization / Revenue 0.96x 0.77x 0.89x 1.26x 1.4x 1.44x 1.38x 1.33x
EV / Revenue 0.98x 0.84x 0.94x 1.29x 1.47x 1.46x 1.36x 1.25x
EV / EBITDA 7.04x 9.87x 7.05x 9.03x 9.42x 8.85x 7.86x 7.03x
EV / EBIT 14x 24x 9.36x 11.9x 12.1x 11x 9.74x 8.72x
EV / FCF 13x 54.2x 10.4x 19.6x 25x 15.5x 14.9x 12.5x
FCF Yield 7.69% 1.84% 9.61% 5.1% 4% 6.44% 6.71% 8%
Dividend per Share 2 3.5 3.5 3.75 4.25 4.75 5.199 5.64 6.094
Rate of return 3.9% 4.86% 4.37% 3.24% 3.22% 3.39% 3.67% 3.97%
EPS 2 41.28 0.83 6.67 7.64 8.57 9.588 10.64 11.61
Distribution rate 8.48% 422% 56.2% 55.6% 55.4% 54.2% 53% 52.5%
Net sales 1 3,155 3,180 3,282 3,531 3,555 3,604 3,747 3,898
EBITDA 1 441 270.7 437.9 502.7 556.2 595.2 645.9 691.8
EBIT 1 221.8 111.4 329.7 382.5 433.1 477.9 521.5 557.9
Net income 1 1,417 28.6 229.1 261.9 292.8 323.8 362.4 394.9
Net Debt 1 66.8 234.6 172.3 100.4 267.4 91.56 -101.3 -313.6
Reference price 2 89.85 72.00 85.90 131.00 147.40 153.50 153.50 153.50
Nbr of stocks (in thousands) 33,788 33,862 33,934 33,883 33,733 33,738 - -
Announcement Date 18/02/22 20/02/23 22/02/24 26/02/25 26/02/26 - - -
1CHF in Million2CHF
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.01x1.46x8.85x3.39% 6.52B
32.42x5.6x20.8x0.83% 111B
44.39x7.66x28.66x1.38% 44.53B
23.68x3.47x14.94x0.99% 28.92B
19.27x1.58x11.69x2.51% 27.32B
24.13x2.89x12.62x1.56% 26.13B
25.81x4.19x14.99x1.54% 25.71B
31.37x2.79x17.71x1.71% 24.22B
25.12x3.26x15.53x1.8% 23.6B
46.36x11.01x34.98x0.82% 23.2B
Average 28.85x 4.39x 18.08x 1.65% 34.14B
Weighted average by Cap. 31.11x 4.98x 19.69x 1.34%

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