Real-time Estimate
Tradegate
08:06:11 25/06/2024 BST
|
5-day change
|
1st Jan Change
|
211.2
EUR
|
-0.79%
|
|
+3.17%
|
-3.88%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
125,504
|
140,313
|
161,960
|
133,120
|
149,729
|
138,107
|
-
|
-
|
Enterprise Value (EV)
1 |
149,813
|
165,183
|
190,683
|
165,427
|
181,237
|
167,863
|
167,248
|
166,177
|
P/E ratio
|
21.6
x
|
26.4
x
|
25.3
x
|
18.5
x
|
23.5
x
|
20.1
x
|
17.9
x
|
16.2
x
|
Yield
|
2.05%
|
1.86%
|
1.7%
|
2.45%
|
2.12%
|
2.34%
|
2.44%
|
2.57%
|
Capitalization / Revenue
|
5.78
x
|
7.18
x
|
7.43
x
|
5.35
x
|
6.21
x
|
5.58
x
|
5.3
x
|
5.09
x
|
EV / Revenue
|
6.9
x
|
8.46
x
|
8.75
x
|
6.65
x
|
7.51
x
|
6.78
x
|
6.42
x
|
6.13
x
|
EV / EBITDA
|
13.9
x
|
16
x
|
16.5
x
|
13.6
x
|
15.9
x
|
13.5
x
|
12.5
x
|
11.9
x
|
EV / FCF
|
29.1
x
|
29.4
x
|
31.3
x
|
28.8
x
|
38
x
|
28.1
x
|
24.9
x
|
21.9
x
|
FCF Yield
|
3.44%
|
3.4%
|
3.2%
|
3.47%
|
2.63%
|
3.56%
|
4.02%
|
4.58%
|
Price to Book
|
7.04
x
|
8.34
x
|
11.6
x
|
10.6
x
|
10.1
x
|
8.07
x
|
7.23
x
|
6.37
x
|
Nbr of stocks (in thousands)
|
694,200
|
673,869
|
642,876
|
642,876
|
609,597
|
610,122
|
-
|
-
|
Reference price
2 |
180.8
|
208.2
|
251.9
|
207.1
|
245.6
|
226.4
|
226.4
|
226.4
|
Announcement Date
|
23/01/20
|
21/01/21
|
20/01/22
|
24/01/23
|
25/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
21,708
|
19,533
|
21,804
|
24,875
|
24,119
|
24,743
|
26,038
|
27,130
|
EBITDA
1 |
10,770
|
10,322
|
11,546
|
12,163
|
11,400
|
12,417
|
13,431
|
14,021
|
EBIT
1 |
8,554
|
7,834
|
9,338
|
9,917
|
9,082
|
9,900
|
10,847
|
11,579
|
Operating Margin
|
39.4%
|
40.11%
|
42.83%
|
39.87%
|
37.65%
|
40.01%
|
41.66%
|
42.68%
|
Earnings before Tax (EBT)
1 |
7,747
|
6,980
|
8,478
|
9,072
|
8,233
|
8,950
|
9,807
|
10,072
|
Net income
1 |
5,919
|
5,349
|
6,523
|
6,998
|
6,379
|
6,847
|
7,530
|
7,891
|
Net margin
|
27.27%
|
27.38%
|
29.92%
|
28.13%
|
26.45%
|
27.67%
|
28.92%
|
29.09%
|
EPS
2 |
8.380
|
7.880
|
9.950
|
11.21
|
10.45
|
11.28
|
12.65
|
13.96
|
Free Cash Flow
1 |
5,156
|
5,613
|
6,096
|
5,742
|
4,773
|
5,979
|
6,716
|
7,605
|
FCF margin
|
23.75%
|
28.74%
|
27.96%
|
23.08%
|
19.79%
|
24.16%
|
25.79%
|
28.03%
|
FCF Conversion (EBITDA)
|
47.87%
|
54.38%
|
52.8%
|
47.21%
|
41.87%
|
48.15%
|
50%
|
54.24%
|
FCF Conversion (Net income)
|
87.11%
|
104.94%
|
93.45%
|
82.05%
|
74.82%
|
87.33%
|
89.18%
|
96.38%
|
Dividend per Share
2 |
3.700
|
3.880
|
4.290
|
5.080
|
5.200
|
5.306
|
5.529
|
5.826
|
Announcement Date
|
23/01/20
|
21/01/21
|
20/01/22
|
24/01/23
|
25/01/24
|
-
|
-
|
-
|
Fiscal Period: December |
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
|
2025 Q2
|
---|
Net sales
1 |
5,733
|
5,860
|
6,269
|
6,566
|
6,180
|
6,056
|
5,963
|
5,941
|
6,159
|
6,031
|
6,115
|
6,228
|
6,388
|
6,301
|
6,417
|
EBITDA
1 |
2,996
|
2,932
|
3,054
|
3,196
|
2,981
|
2,866
|
2,781
|
2,757
|
2,996
|
2,966
|
3,065
|
3,140
|
3,245
|
3,214
|
3,327
|
EBIT
1 |
2,440
|
2,377
|
2,495
|
2,633
|
2,412
|
2,294
|
2,204
|
2,177
|
2,407
|
2,372
|
2,434
|
2,511
|
2,607
|
2,560
|
2,673
|
Operating Margin
|
42.56%
|
40.56%
|
39.8%
|
40.1%
|
39.03%
|
37.88%
|
36.96%
|
36.64%
|
39.08%
|
39.33%
|
39.81%
|
40.31%
|
40.8%
|
40.63%
|
41.66%
|
Earnings before Tax (EBT)
1 |
2,228
|
2,117
|
2,342
|
2,442
|
2,171
|
2,142
|
1,958
|
1,949
|
2,184
|
2,140
|
2,214
|
2,275
|
2,349
|
2,319
|
2,435
|
Net income
1 |
1,711
|
1,630
|
1,835
|
1,895
|
1,638
|
1,630
|
1,569
|
1,528
|
1,652
|
1,641
|
1,687
|
1,741
|
1,799
|
1,781
|
1,868
|
Net margin
|
29.84%
|
27.82%
|
29.27%
|
28.86%
|
26.5%
|
26.92%
|
26.31%
|
25.72%
|
26.82%
|
27.21%
|
27.59%
|
27.95%
|
28.16%
|
28.26%
|
29.11%
|
EPS
2 |
2.660
|
2.570
|
2.930
|
3.050
|
2.670
|
2.670
|
2.570
|
2.510
|
2.710
|
2.690
|
2.761
|
2.865
|
2.976
|
2.975
|
3.149
|
Dividend per Share
2 |
1.180
|
1.180
|
1.300
|
1.300
|
1.300
|
1.300
|
1.300
|
1.300
|
1.300
|
1.300
|
1.291
|
1.291
|
1.291
|
1.266
|
1.266
|
Announcement Date
|
20/01/22
|
21/04/22
|
21/07/22
|
20/10/22
|
24/01/23
|
20/04/23
|
26/07/23
|
19/10/23
|
25/01/24
|
25/04/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
24,309
|
24,870
|
28,723
|
32,307
|
31,508
|
29,756
|
29,140
|
28,070
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
2.257
x
|
2.409
x
|
2.488
x
|
2.656
x
|
2.764
x
|
2.396
x
|
2.17
x
|
2.002
x
|
Free Cash Flow
1 |
5,156
|
5,613
|
6,096
|
5,742
|
4,773
|
5,979
|
6,716
|
7,605
|
ROE (net income / shareholders' equity)
|
30.7%
|
30.5%
|
41.9%
|
53.2%
|
47.3%
|
43.3%
|
44.4%
|
44.1%
|
ROA (Net income/ Total Assets)
|
9.8%
|
8.62%
|
10.4%
|
10.9%
|
9.62%
|
10%
|
10.8%
|
11.4%
|
Assets
1 |
60,410
|
62,035
|
62,961
|
64,486
|
66,290
|
68,218
|
69,576
|
69,217
|
Book Value Per Share
2 |
25.70
|
25.00
|
21.70
|
19.50
|
24.20
|
28.00
|
31.30
|
35.50
|
Cash Flow per Share
2 |
12.20
|
12.60
|
13.80
|
15.00
|
13.70
|
15.00
|
16.80
|
18.40
|
Capex
1 |
3,453
|
2,927
|
2,936
|
3,620
|
3,606
|
3,377
|
3,585
|
3,742
|
Capex / Sales
|
15.91%
|
14.98%
|
13.47%
|
14.55%
|
14.95%
|
13.65%
|
13.77%
|
13.79%
|
Announcement Date
|
23/01/20
|
21/01/21
|
20/01/22
|
24/01/23
|
25/01/24
|
-
|
-
|
-
|
Last Close Price
226.4
USD Average target price
263.9
USD Spread / Average Target +16.59% Consensus |
1st Jan change
|
Capi.
|
---|
| -4.21% | 64.92B | | -7.49% | 49.4B | | -2.22% | 17.06B | | -2.15% | 9.06B | | +22.74% | 7.66B | | -13.11% | 1.93B | | +20.11% | 1.8B | | -2.31% | 1.06B | | -74.49% | 1.04B |
Railway Freight Operators
|