Company Valuation: Sappi Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,507 1,381 1,303 1,683 809.2 663 - -
Change - -8.37% -5.66% 29.19% -51.92% -18.07% - -
Enterprise Value (EV) 1 3,453 2,544 2,388 3,105 2,729 2,538 2,434 2,273
Change - -26.33% -6.14% 30.04% -12.1% -7% -4.13% -6.61%
P/E ratio 133x 2.71x 5.31x 46.8x -4.62x -57.5x 6.21x 4.97x
PBR 0.76x 0.59x 0.53x 0.65x 0.35x 0.29x 0.27x 0.25x
PEG - 0x -0.1x -0.5x 0x 0.6x -0x 0.2x
Capitalization / Revenue 0.29x 0.19x 0.22x 0.31x 0.15x 0.12x 0.12x 0.12x
EV / Revenue 0.66x 0.35x 0.41x 0.57x 0.5x 0.46x 0.43x 0.39x
EV / EBITDA 6.49x 1.9x 3.27x 4.54x 5.45x 6.22x 3.96x 3.69x
EV / EBIT 17x 2.45x 5.53x 7.63x 15.5x 14.3x 8.04x 6.12x
EV / FCF 105x 4.95x 11.2x -9.3x -6.69x 17.6x 16.7x 10.6x
FCF Yield 0.96% 20.2% 8.92% -10.8% -14.9% 5.67% 5.98% 9.39%
Dividend per Share 2 - 0.15 0.15 0.14 - 0.00571 0.0283 0.0733
Rate of return - 6.14% 6.43% 4.99% - 0.52% 2.58% 6.68%
EPS 2 0.02 0.9 0.44 0.06 -0.29 -0.0191 0.1767 0.2204
Distribution rate - 16.7% 34.1% 233% - -30% 16% 33.3%
Net sales 1 5,265 7,296 5,809 5,458 5,420 5,472 5,658 5,764
EBITDA 1 532 1,339 731 684 501 407.9 614.7 616
EBIT 1 203 1,038 432 407 176 177.1 302.7 371.4
Net income 1 13 536 259 33 -177 -20.33 118.7 137.1
Net Debt 1 1,946 1,163 1,085 1,422 1,920 1,875 1,770 1,610
Reference price 2 2.666 2.443 2.334 2.808 1.338 1.097 1.097 1.097
Nbr of stocks (in thousands) 565,219 565,200 558,100 599,400 604,600 604,582 - -
Announcement Date 11/11/21 11/10/22 11/8/23 11/6/24 11/6/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-57.54x0.46x6.22x0.52% 663M
32.15x1.83x13.32x5.47% 17.25B
5.01x2.91x6.82x3.13% 13.79B
20.22x2.76x12.81x3.32% 6.39B
17.67x0.9x12.55x3.68% 5.71B
13.07x2.37x6.33x4.74% 4.78B
13.4x1.14x6.18x1.32% 3.96B
14.09x1.55x7.56x7.05% 2.86B
15.94x - - 3.55% 2.51B
10.79x1.09x4.86x2.63% 2.22B
Average 8.48x 1.67x 8.51x 3.54% 6.01B
Weighted average by Cap. 17.22x 2.04x 9.86x 4.04%

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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