Company Valuation: Netfonds AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 95.26 88.91 100 97.28 95.65 186.6 - -
Change - -6.66% 12.47% -2.72% -1.68% 95.12% - -
Enterprise Value (EV) 1 97.28 91.57 106.2 108.6 120.2 182.4 176 172.1
Change - -5.87% 15.93% 2.32% 10.66% 51.79% -3.54% -2.19%
P/E 11.3x 105x -160x 55.3x 49.8x 20.8x 17.5x 18.1x
PBR - - - 4.37x 4.28x 5.1x 3.85x -
PEG - -1.2x 1x -0x 5.95x 0x 0.9x -5.91x
Capitalization / Revenue 0.49x 0.5x - 0.41x 0.35x 0.61x 0.57x 0.52x
EV / Revenue 0.5x 0.52x - 0.46x 0.44x 0.6x 0.53x 0.48x
EV / EBITDA 6.22x 14.1x - 13.5x 9.93x 9.92x 8.09x 7.58x
EV / EBIT 8.34x 30.9x 78.6x 32.6x 21.5x 13.2x 10.6x 9.08x
EV / FCF -5.16x 75.8x -86.1x -15.1x 9.02x 21x 15.9x 16.1x
FCF Yield -19.4% 1.32% -1.16% -6.6% 11.1% 4.77% 6.31% 6.22%
Dividend per Share 2 - 0.25 - - - 0.4 0.4 0.4
Rate of return - 0.62% - - - 0.5% 0.5% 0.5%
EPS 2 3.79 0.384 -0.268 0.7601 0.8237 3.84 4.57 4.43
Distribution rate - 65.1% - - - 10.4% 8.75% 9.03%
Net sales 1 193.2 176.4 - 237.1 275.9 305.5 329.8 357.2
EBITDA 1 15.65 6.473 - 8.063 12.1 18.4 21.75 22.7
EBIT 1 11.67 2.962 1.35 3.33 5.6 13.8 16.6 18.95
Net income 1 8.4 0.8501 -0.6209 1.773 1.925 9 10.65 10.3
Net Debt 1 2.025 2.655 6.154 11.33 24.54 -4.2 -10.65 -14.5
Reference price 2 43.00 40.20 43.00 42.00 41.00 80.00 80.00 80.00
Nbr of stocks (in thousands) 2,215 2,212 2,326 2,316 2,333 2,333 - -
Announcement Date 5/7/22 6/30/23 5/22/24 6/16/25 7/6/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.75x3.52x9.64x3.06% 66.2B
7.71x3.61x29.22x3.24% 42.94B
12.72x - - 2.2% 14.22B
7.89x0.95x - 3.51% 13.54B
12.67x0.88x - 1.9% 9.25B
8.43x - - 6.3% 7.49B
-193.91x2.9x15.45x1.22% 4.62B
19.6x24.3x77.46x2.35% 4.33B
Average -13.27x 6.03x 32.94x 2.97% 20.33B
Weighted average by Cap. 7.56x 3.74x 19.47x 3.08%

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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