SOLVAY SA |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 33.63 EUR | -1.98% |
|
-2.58% | +21.28% |
| May. 31 | Solvay Spinoff Syensqo Prices $1.2 Billion Notes Offering | MT |
| May. 28 | Solvay SA Approves Dividend for the Year 2023, Payable on June 5, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,656 | 10,018 | 10,543 | 9,790 | 2,936 | 3,531 | - | - |
| Enterprise Value (EV) 1 | 14,242 | 12,416 | 12,692 | 11,581 | 4,425 | 5,143 | 5,091 | 4,978 |
| P/E ratio | 89.8 x | -10.4 x | 11.2 x | 5.16 x | 1.4 x | 9.64 x | 8.51 x | 7.58 x |
| Yield | 3.63% | 3.87% | 3.77% | 4.29% | 8.76% | 7.26% | 7.38% | 7.42% |
| Capitalization / Revenue | 1.04 x | 1.12 x | 1.04 x | 0.73 x | 0.6 x | 0.75 x | 0.73 x | 0.71 x |
| EV / Revenue | 1.39 x | 1.38 x | 1.26 x | 0.86 x | 0.91 x | 1.1 x | 1.05 x | 1 x |
| EV / EBITDA | 6.13 x | 6.38 x | 5.39 x | 3.59 x | 3.55 x | 5.26 x | 4.79 x | 4.36 x |
| EV / FCF | 14.9 x | 17.6 x | 14.7 x | 10.6 x | 7.89 x | 16.4 x | 12.3 x | 11.2 x |
| FCF Yield | 6.73% | 5.69% | 6.79% | 9.47% | 12.7% | 6.09% | 8.1% | 8.93% |
| Price to Book | 1.12 x | 1.39 x | 1.2 x | 0.92 x | 2.31 x | 2.53 x | 2.29 x | 2 x |
| Nbr of stocks (in thousands) | 103,154 | 103,411 | 103,158 | 103,640 | 105,876 | 105,008 | - | - |
| Reference price 2 | 103.3 | 96.88 | 102.2 | 94.46 | 27.73 | 33.63 | 33.63 | 33.63 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/23/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,244 | 8,965 | 10,105 | 13,426 | 4,880 | 4,685 | 4,846 | 4,987 |
| EBITDA 1 | 2,322 | 1,945 | 2,356 | 3,229 | 1,246 | 977.2 | 1,064 | 1,143 |
| EBIT 1 | 1,503 | 1,110 | 1,600 | 2,426 | 926 | 678.5 | 746 | 801.4 |
| Operating Margin | 14.67% | 12.38% | 15.83% | 18.07% | 18.98% | 14.48% | 15.39% | 16.07% |
| Earnings before Tax (EBT) 1 | 74 | -844 | 1,094 | 2,151 | 180 | 525 | 631.5 | 753.4 |
| Net income 1 | 118 | -962 | 948 | 1,905 | 2,093 | 355.5 | 414.7 | 475.3 |
| Net margin | 1.15% | -10.73% | 9.38% | 14.19% | 42.89% | 7.59% | 8.56% | 9.53% |
| EPS 2 | 1.150 | -9.320 | 9.130 | 18.30 | 19.85 | 3.487 | 3.950 | 4.435 |
| Free Cash Flow 1 | 958 | 707 | 862 | 1,097 | 561 | 313.4 | 412.3 | 444.6 |
| FCF margin | 9.35% | 7.89% | 8.53% | 8.17% | 11.5% | 6.69% | 8.51% | 8.91% |
| FCF Conversion (EBITDA) | 41.26% | 36.35% | 36.59% | 33.97% | 45.02% | 32.07% | 38.77% | 38.91% |
| FCF Conversion (Net income) | 811.86% | - | 90.93% | 57.59% | 26.8% | 88.16% | 99.42% | 93.54% |
| Dividend per Share 2 | 3.750 | 3.750 | 3.850 | 4.050 | 2.430 | 2.442 | 2.480 | 2.495 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/23/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,573 | 2,703 | 3,055 | 3,477 | 3,609 | 3,286 | 3,167 | 3,087 | 2,747 | 1,131 | - | 1,201 |
| EBITDA 1 | 599 | 572 | 712 | 864 | 917 | 736 | 839 | 790 | 702 | 238 | -383 | 265 |
| EBIT 1 | 421 | - | 526 | 674 | 709 | 517 | 642 | - | 508 | - | -315 | 160 |
| Operating Margin | 16.36% | - | 17.22% | 19.38% | 19.65% | 15.73% | 20.27% | - | 18.49% | - | - | 14.07% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | -386 | - |
| Net income | 255 | 366 | 337 | 705 | 451 | 412 | 246 | - | 220 | - | 1,650 | - |
| Net margin | 9.91% | 13.54% | 11.03% | 20.28% | 12.5% | 12.54% | 7.77% | - | 8.01% | - | - | - |
| EPS | 2.460 | 3.520 | 3.250 | 6.790 | 4.340 | 3.930 | 2.370 | 1.870 | 2.090 | - | - | - |
| Dividend per Share | - | 3.850 | - | - | - | 4.050 | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 2/23/22 | 5/4/22 | 7/28/22 | 11/3/22 | 2/23/23 | 5/4/23 | 8/3/23 | 11/3/23 | 3/13/24 | 3/13/24 | 5/7/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,586 | 2,398 | 2,149 | 1,791 | 1,489 | 1,612 | 1,560 | 1,446 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.544 x | 1.233 x | 0.9121 x | 0.5547 x | 1.195 x | 1.649 x | 1.466 x | 1.266 x |
| Free Cash Flow 1 | 958 | 707 | 862 | 1,097 | 561 | 313 | 412 | 445 |
| ROE (net income / shareholders' equity) | 8.26% | 7.4% | 11.7% | 17.9% | 23.9% | 27.9% | 28.8% | 29% |
| ROA (Net income/ Total Assets) | 3.82% | 3.24% | 5.65% | 8.56% | 10.2% | 5.79% | 6.5% | 7.13% |
| Assets 1 | 3,090 | -29,653 | 16,791 | 22,247 | 20,444 | 6,141 | 6,382 | 6,663 |
| Book Value Per Share 2 | 92.00 | 69.80 | 85.30 | 102.0 | 12.00 | 13.30 | 14.70 | 16.80 |
| Cash Flow per Share 2 | 17.60 | 12.00 | 14.40 | 19.30 | 7.620 | 5.410 | 5.990 | 6.690 |
| Capex 1 | 857 | 535 | 637 | 909 | 450 | 315 | 346 | 360 |
| Capex / Sales | 8.37% | 5.97% | 6.3% | 6.77% | 9.22% | 6.73% | 7.14% | 7.22% |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/23/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
33.63
EUR
Average target price
39.28
EUR
Spread / Average Target
+16.80%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.28% | 3.83B | |
| -1.05% | 74.34B | |
| -0.76% | 46.86B | |
| +6.80% | 34.35B | |
| +9.37% | 18.1B | |
| +12.81% | 11.92B | |
| -3.01% | 10.43B | |
| -20.72% | 10.33B | |
| -1.35% | 9.04B | |
| -11.01% | 7.84B |
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