Valuation DS Smith

Equities

Market Closed - London S.E. Other stock markets 02:30:00 2025-02-03 am EST			5-day change	1st Jan Change
582.50 ^GBX	-.--%		-4.04%	+7.47%

Apr. 09	DS Smith Launches Recyclable, Reusable Cooler	CI
Feb. 28	DS Smith Appoints Timothy S. Nicholls as Executive Vice President and President	CI

Data adjusted to current consolidation scope

Fiscal Period: April	2019	2020	2021	2022	2023	2024
Capitalization ¹	4,892	4,277	5,772	4,543	4,268	4,829
Change	-	-12.57%	34.96%	-21.3%	-6.05%	13.14%
Enterprise Value (EV) ¹	7,264	6,425	7,599	6,072	5,940	7,095
Change	-	-11.55%	18.28%	-20.1%	-2.17%	19.44%
P/E ratio	17.3x	8.17x	29.9x	16.3x	8.56x	12.6x
PBR	1.57x	1.28x	1.63x	1.07x	1.04x	1.22x
PEG	-	0.1x	-0.5x	0.4x	0.1x	-0.5x
Capitalization / Revenue	0.79x	0.71x	0.97x	0.63x	0.52x	0.71x
EV / Revenue	1.18x	1.06x	1.27x	0.84x	0.72x	1.04x
EV / EBITDA	8.97x	7.29x	10.8x	7.71x	5.5x	7.61x
EV / EBIT	14.1x	12.5x	21.4x	13.6x	7.95x	11.8x
EV / FCF	33.3x	10.3x	27.8x	44.2x	9.98x	-28.7x
FCF Yield	3%	9.74%	3.6%	2.26%	10%	-3.49%
Dividend per Share ²	0.162	-	0.121	0.15	0.18	0.18
Rate of return	4.54%	-	2.88%	4.53%	5.8%	5.14%
EPS ²	0.206	0.382	0.1407	0.203	0.3622	0.279
Distribution rate	78.6%	-	86%	73.9%	49.7%	64.5%
Net sales ¹	6,171	6,043	5,976	7,241	8,221	6,822
EBITDA ¹	810	881	703.3	788	1,081	932
EBIT ¹	515	514	354.3	446	747	602
Net income ¹	274	527	194	280	502	385
Net Debt ¹	2,372	2,148	1,827	1,529	1,672	2,266
Reference price ²	3.570	3.119	4.208	3.309	3.101	3.504
Nbr of stocks (in thousands)	1,370,294	1,371,316	1,371,775	1,372,931	1,376,455	1,378,260
Announcement Date	7/8/19	7/2/20	6/29/21	7/14/22	7/13/23	7/8/24