Company Valuation: CD PROJEKT S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 27,650 19,433 13,064 11,490 19,128 28,035 28,035 -
Change - -29.72% -32.77% -12.05% 66.48% 46.57% 0% -
Enterprise Value (EV) 1 26,835 18,495 12,198 10,631 17,958 26,729 26,935 25,192
Change - -31.08% -34.05% -12.85% 68.92% 48.84% 0.77% -6.47%
P/E ratio 23.9x 93.2x 37.7x 24x 40.9x 65.8x 80.8x 15.6x
PBR 12.6x 10.3x - 4.8x 6.83x 9.04x 8.29x 5.71x
PEG - -1.1x 0.6x 0.6x -16.36x -7.42x -4.4x 0x
Capitalization / Revenue 12.9x 21.9x 13.7x 9.34x 19.4x 27.8x 31x 7.6x
EV / Revenue 12.5x 20.8x 12.8x 8.64x 18.2x 26.5x 29.8x 6.83x
EV / EBITDA 18.8x 54.8x 24.7x 14.9x 37x 54.3x 69.4x 9.81x
EV / EBIT 23.2x 79.4x 32.3x 22.7x 49.1x 65.7x 90.8x 13.6x
EV / FCF 38.7x 23.6x 81.4x 37.8x 103x -256x -105x 19.6x
FCF Yield 2.58% 4.24% 1.23% 2.64% 0.97% -0.39% -0.95% 5.11%
Dividend per Share 2 5 5 - 1 1 0.9746 0.9304 1.926
Rate of return 1.82% 2.59% - 0.87% 0.52% 0.35% 0.33% 0.69%
EPS 2 11.49 2.07 3.44 4.8 4.68 4.265 3.474 17.98
Distribution rate 43.5% 242% - 20.8% 21.4% 22.9% 26.8% 10.7%
Net sales 1 2,139 888.2 952.6 1,230 985 1,007 905.4 3,690
EBITDA 1 1,425 337.6 494.8 714.1 485.3 492.6 388.3 2,568
EBIT 1 1,157 232.9 377.3 469 365.5 406.6 296.5 1,847
Net income 1 1,154 208.9 347.1 481.1 469.9 417.6 327.3 1,762
Net Debt 1 -815.2 -937.5 -866.2 -858.9 -1,170 -1,306 -1,100 -2,843
Reference price 2 274.70 192.90 129.64 115.00 191.45 280.60 280.60 280.60
Nbr of stocks (in thousands) 100,655 100,739 100,771 99,911 99,911 99,911 99,911 -
Announcement Date 4/22/21 4/14/22 3/30/23 3/28/24 3/24/25 - - -
1PLN in Million2PLN
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
65.79x26.54x54.26x0.35% 7.7B
60.83x33.66x42.74x-.--% 192B
17.9x5.18x10.46x-.--% 124B
49.25x7.81x19.56x-.--% 56.22B
49.03x6.26x17.14x0.38% 50.94B
64.45x4.74x14.73x-.--% 49.14B
29.98x6.72x16.97x0.75% 44.79B
437.06x11.29x46.2x-.--% 41.74B
28.35x7.19x14.58x-.--% 19.83B
Average 89.18x 12.15x 26.29x 0.16% 65.17B
Weighted average by Cap. 73.31x 15.72x 26.60x 0.1%
See all sector valuations

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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  4. Valuation CD PROJEKT S.A.