Company Valuation: Wolters Kluwer N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 18,124 26,801 24,328 30,960 38,029 13,890 13,890 -
Change - 47.87% -9.23% 27.26% 22.83% -63.48% 0% -
Enterprise Value (EV) 1 20,507 28,932 26,581 33,572 41,163 17,872 18,047 18,299
Change - 41.08% -8.13% 26.3% 22.61% -56.58% 0.98% 1.4%
P/E ratio 25.6x 37.3x 24.4x 31.5x 35.5x 13x 11.9x 10.7x
PBR 8.68x 11.1x 10.5x 17.7x 24.3x 14.1x 19.5x 28.8x
PEG - 12.59x 0.6x 15.79x 3.4x 2.44x 1.32x 0.9x
Capitalization / Revenue 3.94x 5.62x 4.46x 5.54x 6.43x 2.25x 2.19x 2.06x
EV / Revenue 4.46x 6.06x 4.87x 6.01x 6.96x 2.9x 2.84x 2.72x
EV / EBITDA 14.4x 19.1x 15.4x 18.9x 21.3x 8.77x 8.46x 8x
EV / EBIT 18.2x 24x 18.7x 22.7x 25.7x 10.6x 10.1x 9.58x
EV / FCF 22.6x 28.6x 21.8x 28.8x 32.3x 13.7x 12.8x 12.6x
FCF Yield 4.42% 3.49% 4.59% 3.47% 3.1% 7.32% 7.81% 7.96%
Dividend per Share 2 1.36 1.57 1.81 2.08 2.33 2.479 2.67 2.896
Rate of return 1.97% 1.52% 1.85% 1.62% 1.45% 4.01% 4.32% 4.69%
EPS 2 2.7 2.78 4.01 4.09 4.52 4.761 5.189 5.791
Distribution rate 50.4% 56.5% 45.1% 50.9% 51.5% 52.1% 51.5% 50%
Net sales 1 4,603 4,771 5,453 5,584 5,916 6,162 6,349 6,733
EBITDA 1 1,422 1,514 1,730 1,775 1,930 2,038 2,134 2,287
EBIT 1 1,124 1,205 1,424 1,476 1,600 1,693 1,782 1,910
Net income 1 721 728 1,027 1,007 1,079 1,116 1,188 1,289
Net Debt 1 2,383 2,131 2,253 2,612 3,134 3,983 4,157 4,409
Reference price 2 69.06 103.60 97.76 128.70 160.40 61.74 61.74 61.74
Nbr of stocks (in thousands) 262,443 258,696 248,852 240,561 237,090 224,968 224,968 -
Announcement Date 2/24/21 2/23/22 2/22/23 2/21/24 2/26/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.05x2.92x8.81x3.99% 16.53B
24.95x8.09x15.73x0.97% 123B
23.18x5.15x13.17x2.84% 36.98B
27.82x12.67x20.48x1.55% 38.3B
34.52x4.59x14.36x0.96% 23.2B
18.55x3.99x10.14x3.65% 12.5B
12.39x3.3x8.7x2.36% 7.05B
52.92x - - - 4.15B
-5.7x2.13x5.28x-.--% 1.15B
Average 22.41x 5.36x 12.08x 2.04% 29.17B
Weighted average by Cap. 24.88x 7.35x 14.99x 1.68%

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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