Company Valuation: Warehouses De Pauw SA

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 4,937 7,794 4,981 5,909 4,285 5,465 5,465 -
Change - 57.85% -36.09% 18.62% -27.48% 27.52% 0% -
Enterprise Value (EV) 1 7,046 9,978 7,375 8,211 7,339 8,982 9,274 9,577
Change - 41.62% -26.09% 11.34% -10.63% 22.4% 3.25% 3.27%
P/E ratio 15.1x 7.84x 14.4x 259x 9.69x 14.4x 10.4x 9.39x
PBR 2.1x 2.22x 1.27x 1.41x 0.9x 1.07x 1.03x 0.96x
PEG - 0x -0.2x -2.8x 0x -0.7x 0.4x 0.8x
Capitalization / Revenue 21.6x 30.5x 17x 17.6x 10.8x 11.5x 10.9x 10.1x
EV / Revenue 30.8x 39x 25.2x 24.4x 18.4x 19.8x 18.5x 17.6x
EV / EBITDA 32x 39.5x 25.3x 25.4x 19.5x 20.7x 19.5x 18.5x
EV / EBIT 33.1x 39.7x 25.9x 26.8x 20.1x 20.9x 19.7x 18.6x
EV / FCF -36x -68.9x -53.3x -145x -18.9x -17.3x -41.7x 286x
FCF Yield -2.78% -1.45% -1.88% -0.69% -5.29% -5.77% -2.4% 0.35%
Dividend per Share 2 0.8 0.88 1 1.12 1.2 1.228 1.288 1.363
Rate of return 2.83% 2.09% 3.75% 3.93% 6.32% 5.29% 5.54% 5.87%
EPS 2 1.87 5.38 1.86 0.11 1.96 1.54 2.226 2.476
Distribution rate 42.8% 16.4% 53.8% 1,018% 61.2% 69.6% 57.9% 55.1%
Net sales 1 228.4 255.5 292.9 336.6 398.4 450.1 501.5 542.7
EBITDA 1 220.1 252.6 291.8 323 376.6 425 474.7 518.1
EBIT 1 212.8 251.2 284.6 306.7 365.3 412.5 471.7 515.4
Net income 1 324.6 982.3 351.7 22.3 435.5 353.9 525.6 554.5
Net Debt 1 2,108 2,184 2,394 2,303 3,053 3,517 3,809 4,113
Reference price 2 28.26 42.18 26.70 28.50 19.00 23.24 23.24 23.24
Nbr of stocks (in thousands) 174,714 184,772 186,558 207,317 225,535 235,140 235,140 -
Announcement Date 1/29/21 1/28/22 1/27/23 1/26/24 1/30/25 1/30/26 - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.17x19.82x20.69x5.29% 6.3B
40.75x18.35x23.82x3.24% 123B
21.2x17.47x19.95x1.15% 37.97B
36.02x15.07x21.31x3.38% 10.03B
30.39x11.36x16.16x5.02% 8.03B
35.57x13.35x19.54x3.25% 7.98B
37.37x11.53x15.88x4.09% 7.27B
17.07x12.89x16.76x4.05% 6.86B
48.28x14.99x22.42x3.41% 6.47B
9.13x21.2x23.44x5.16% 5.56B
Average 28.90x 15.60x 20.00x 3.8% 21.91B
Weighted average by Cap. 34.35x 17.22x 21.97x 3.12%

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 Warehouses De Pauw SA
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