BECHTLE AG |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 46.38 EUR | +1.00% |
|
+1.89% | +2.18% |
| Apr. 19 | BECHTLE AG : Gets a Buy rating from Warburg Research | ZD |
| Apr. 16 | BECHTLE AG : Gets a Buy rating from Deutsche Bank | ZD |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,258 | 7,493 | 7,930 | 4,166 | 5,719 | 5,844 | - | - |
| Enterprise Value (EV) 1 | 5,374 | 7,502 | 7,844 | 4,309 | 5,719 | 5,832 | 5,612 | 5,400 |
| P/E ratio | 30.8 x | 39 x | 34.2 x | 16.6 x | 21.5 x | 20.3 x | 18.5 x | 17 x |
| Yield | 0.96% | 0.76% | 0.87% | 1.97% | - | 1.61% | 1.74% | 1.88% |
| Capitalization / Revenue | 0.98 x | 1.29 x | 1.27 x | 0.69 x | 0.89 x | 0.84 x | 0.78 x | 0.72 x |
| EV / Revenue | 1 x | 1.29 x | 1.26 x | 0.71 x | 0.89 x | 0.84 x | 0.75 x | 0.67 x |
| EV / EBITDA | 16.5 x | 20 x | 18.3 x | 9.22 x | 11.2 x | 10.7 x | 9.54 x | 8.51 x |
| EV / FCF | 39.1 x | 28.6 x | 44.3 x | 69.1 x | - | 24.2 x | 22 x | 19.8 x |
| FCF Yield | 2.56% | 3.5% | 2.26% | 1.45% | - | 4.12% | 4.55% | 5.06% |
| Price to Book | 5.18 x | 6.45 x | 5.86 x | 2.71 x | - | 3.07 x | 2.68 x | 2.46 x |
| Nbr of stocks (in thousands) | 126,000 | 126,000 | 126,000 | 126,000 | 126,000 | 126,000 | - | - |
| Reference price 2 | 41.73 | 59.47 | 62.94 | 33.06 | 45.39 | 46.38 | 46.38 | 46.38 |
| Announcement Date | 3/19/20 | 3/22/21 | 3/18/22 | 3/17/23 | 3/15/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,374 | 5,819 | 6,246 | 6,028 | 6,423 | 6,937 | 7,477 | 8,066 |
| EBITDA 1 | 326 | 375.1 | 428.7 | 467.5 | 508.9 | 547.2 | 588.1 | 634.8 |
| EBIT 1 | 241.4 | 277 | 325.7 | 355.4 | 382.3 | 416.4 | 453.6 | 493.5 |
| Operating Margin | 4.49% | 4.76% | 5.22% | 5.9% | 5.95% | 6% | 6.07% | 6.12% |
| Earnings before Tax (EBT) 1 | 236.3 | 270.7 | 320.5 | 350.5 | 374.5 | 409.6 | 450.6 | 490.4 |
| Net income 1 | 170.5 | 192.5 | 231.4 | 251.1 | 265.5 | 289.3 | 317.6 | 346.6 |
| Net margin | 3.17% | 3.31% | 3.71% | 4.17% | 4.13% | 4.17% | 4.25% | 4.3% |
| EPS 2 | 1.353 | 1.527 | 1.840 | 1.990 | 2.110 | 2.290 | 2.505 | 2.736 |
| Free Cash Flow 1 | 137.4 | 262.6 | 177.2 | 62.35 | - | 240.5 | 255.4 | 273.3 |
| FCF margin | 2.56% | 4.51% | 2.84% | 1.03% | - | 3.47% | 3.42% | 3.39% |
| FCF Conversion (EBITDA) | 42.14% | 70.01% | 41.34% | 13.34% | - | 43.95% | 43.43% | 43.05% |
| FCF Conversion (Net income) | 80.57% | 136.38% | 76.58% | 24.83% | - | 83.13% | 80.43% | 78.86% |
| Dividend per Share 2 | 0.4000 | 0.4503 | 0.5500 | 0.6500 | - | 0.7486 | 0.8062 | 0.8713 |
| Announcement Date | 3/19/20 | 3/22/21 | 3/18/22 | 3/17/23 | 3/15/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2021 S2 | 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 | 1,496 | 1,807 | 3,303 | 1,379 | 1,418 | 1,464 | 1,768 | 1,538 | 1,510 | 1,479 | 1,895 | 1,621 | 1,608 | 1,603 | 1,996 | - |
| EBITDA 1 | 114.2 | 120 | 234.2 | 101.7 | 115 | 117 | 133.8 | 111.1 | 126.3 | 127.8 | 143.6 | 115.8 | 128.8 | 128.5 | 155.7 | 125.3 |
| EBIT 1 | 88.42 | 92.55 | 181 | 75.32 | 89.8 | 89.4 | 100.9 | 80.97 | 96.12 | 96.4 | 108.8 | 86.43 | 99.75 | 99.57 | 118.9 | 95.25 |
| Operating Margin | 5.91% | 5.12% | 5.48% | 5.46% | 6.33% | 6.11% | 5.71% | 5.26% | 6.37% | 6.52% | 5.74% | 5.33% | 6.21% | 6.21% | 5.95% | - |
| Earnings before Tax (EBT) 1 | 87.03 | 91.29 | - | 74.04 | 88.52 | 88.19 | 99.74 | 79.69 | 93.78 | 93.88 | 107.1 | 85 | - | - | - | - |
| Net income 1 | 62.73 | 67.66 | 130.4 | 52.94 | 63.62 | 63.41 | 71.14 | - | 65.95 | 66.76 | 75.89 | 58.46 | 70.9 | 73.37 | 78.47 | - |
| Net margin | 4.19% | 3.74% | 3.95% | 3.84% | 4.49% | 4.33% | 4.02% | - | 4.37% | 4.51% | 4% | 3.61% | 4.41% | 4.58% | 3.93% | - |
| EPS 2 | 0.5000 | 0.5500 | - | 0.4200 | 0.5100 | 0.5000 | 0.5600 | 0.4500 | 0.5300 | 0.5300 | 0.6000 | 0.4755 | 0.5458 | 0.5478 | 0.6426 | 0.5213 |
| Dividend per Share 2 | - | 0.5500 | - | - | 0.5500 | - | - | - | 0.6500 | - | - | - | 0.6866 | - | - | - |
| Announcement Date | 11/11/21 | 3/18/22 | 3/18/22 | 5/12/22 | 8/11/22 | 11/10/22 | 3/17/23 | 5/11/23 | 8/11/23 | 11/10/23 | 3/15/24 | - | - | - | - | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 115 | 9.28 | - | 144 | - | - | - | - |
| Net Cash position 1 | - | - | 86.3 | - | - | 12.4 | 232 | 444 |
| Leverage (Debt/EBITDA) | 0.3542 x | 0.0247 x | - | 0.3074 x | - | - | - | - |
| Free Cash Flow 1 | 137 | 263 | 177 | 62.3 | - | 240 | 255 | 273 |
| ROE (net income / shareholders' equity) | 19.8% | 19.5% | 20.4% | 18.6% | - | 15.9% | 16% | 15.4% |
| ROA (Net income/ Total Assets) | 8.5% | 8.3% | 9% | 8.5% | - | 7.59% | 7.58% | 7.56% |
| Assets 1 | 2,006 | 2,320 | 2,572 | 2,954 | - | 3,811 | 4,189 | 4,582 |
| Book Value Per Share 2 | 8.050 | 9.220 | 10.70 | 12.20 | - | 15.10 | 17.30 | 18.80 |
| Cash Flow per Share 2 | 1.480 | 2.510 | 2.260 | 0.9300 | - | 2.350 | 3.930 | 3.120 |
| Capex 1 | 48.6 | 53.7 | 107 | 81.7 | - | 92.5 | 99.9 | 113 |
| Capex / Sales | 0.9% | 0.92% | 1.72% | 1.36% | - | 1.33% | 1.34% | 1.41% |
| Announcement Date | 3/19/20 | 3/22/21 | 3/18/22 | 3/17/23 | 3/15/24 | - | - | - |
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
BUY
Number of Analysts
14
Last Close Price
46.38
EUR
Average target price
54.54
EUR
Spread / Average Target
+17.58%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.18% | 6.24B | |
| -12.23% | 194B | |
| +0.74% | 166B | |
| +2.19% | 153B | |
| +4.34% | 99.85B | |
| +7.04% | 77.56B | |
| +19.09% | 73.55B | |
| -7.30% | 71B | |
| -20.54% | 52.81B | |
| +0.53% | 47.86B |
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- Financials Bechtle AG
