Company Valuation: Toplofikatsia-Ruse AD

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024
Market Cap 1 90.75 99.21 158.8 198.8
Change - 9.33% 60.04% 25.22%
Enterprise Value (EV) 1 130.4 270.6 286.4 293.6
Change - 107.46% 5.85% 2.5%
P/E -2.35x 6.73x -3.75x 14.1x
PBR 1.98x 1.64x 8.92x 6.22x
PEG 0x -0x 0x -0x
Capitalization / Revenue 0.94x 0.73x 0.95x 1.32x
EV / Revenue 1.36x 2x 1.72x 1.95x
EV / EBITDA -2.67x -15.2x -2.87x 11.4x
EV / EBIT -2.41x -12.4x -2.76x 14.4x
EV / FCF -1.8x -1.69x 8.13x 6.16x
FCF Yield -55.6% -59.2% 12.3% 16.2%
Dividend per Share 2 - - - -
Rate of return - - - -
EPS 2 -1.359 0.5194 -1.492 0.497
Distribution rate - - - -
Net sales 1 96.15 135.3 166.4 150.7
EBITDA 1 -48.89 -17.86 -99.66 25.68
EBIT 1 -54.07 -21.89 -104 20.35
Net income 1 -38.53 14.72 -42.3 14.09
Net Debt 1 39.69 171.4 127.7 94.79
Reference price 2 3.200 3.497 5.600 7.000
Nbr of stocks (in thousands) 28,349 28,349 28,349 28,349
Announcement Date 4/26/22 5/2/23 4/19/24 2/26/25
1BGN in Million2BGN
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 136M
25.12x4.16x29.11x0.25% 210B
21.14x9.39x16.83x2.88% 181B
21.78x4.51x12.61x3.18% 171B
13.47x1.92x6.85x5.26% 109B
21.48x11.91x15.44x3.23% 109B
21.4x5.99x13.36x3.23% 109B
19.03x5.73x11.49x3.37% 101B
21.59x3.14x13.64x0.63% 94.15B
19.77x5.19x12.4x3.01% 69.61B
Average 20.53x 5.77x 14.64x 2.78% 115B
Weighted average by Cap. 21.06x 5.84x 16.05x 2.6%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Toplofikatsia-Ruse AD

Historical PBR trend

Valuation ratios - PBR - Toplofikatsia-Ruse AD

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Toplofikatsia-Ruse AD

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Toplofikatsia-Ruse AD

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