BUDIMEX SA |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 687 PLN | -4.38% |
|
-7.35% | +9.74% |
| May. 24 | Budimex SA Inks PLN 552 million Gross Deal with Poland's Road Authority | CI |
| May. 24 | Budimex SA Inks PLN 448.9 million Net Deal with Poland's Road Authority | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,391 | 7,851 | 5,795 | 7,251 | 15,982 | 18,343 | - | - |
| Enterprise Value (EV) 1 | 3,205 | 5,917 | 3,317 | 4,220 | 12,286 | 14,824 | 14,367 | 13,965 |
| P/E ratio | 19.4 x | 17.1 x | 5.96 x | 13.6 x | 21.7 x | 24.2 x | 21.5 x | 19.4 x |
| Yield | 3.66% | 1.5% | 16.9% | 6.33% | - | 4.36% | 3.99% | 4.15% |
| Capitalization / Revenue | 0.58 x | 0.94 x | 0.73 x | 0.84 x | 1.63 x | 1.78 x | 1.53 x | 1.38 x |
| EV / Revenue | 0.42 x | 0.71 x | 0.42 x | 0.49 x | 1.25 x | 1.44 x | 1.2 x | 1.05 x |
| EV / EBITDA | 7.56 x | 7.62 x | 4.52 x | 5.9 x | 13.1 x | 15.1 x | 12.8 x | 11.4 x |
| EV / FCF | 6.04 x | 7.16 x | 5.02 x | - | 10.5 x | 20.6 x | 14.5 x | 10.9 x |
| FCF Yield | 16.6% | 14% | 19.9% | - | 9.52% | 4.85% | 6.91% | 9.14% |
| Price to Book | 5.43 x | 6.83 x | 4.39 x | - | 10.4 x | 13.2 x | 11.3 x | 10.3 x |
| Nbr of stocks (in thousands) | 25,530 | 25,530 | 25,530 | 25,530 | 25,530 | 25,530 | - | - |
| Reference price 2 | 172.0 | 307.5 | 227.0 | 284.0 | 626.0 | 718.5 | 718.5 | 718.5 |
| Announcement Date | 2/26/20 | 2/24/21 | 3/25/22 | 3/31/23 | 4/10/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,570 | 8,382 | 7,911 | 8,619 | 9,802 | 10,327 | 11,996 | 13,308 |
| EBITDA 1 | 423.7 | 776.1 | 733.7 | 714.8 | 938.4 | 981.7 | 1,118 | 1,227 |
| EBIT 1 | 318 | 639 | 587.1 | 562.4 | 781.1 | 808 | 938.2 | 1,041 |
| Operating Margin | 4.2% | 7.62% | 7.42% | 6.53% | 7.97% | 7.82% | 7.82% | 7.82% |
| Earnings before Tax (EBT) 1 | 332 | 622 | 554.5 | 648.9 | 929.6 | 959.5 | 1,080 | 1,160 |
| Net income 1 | 226 | 471 | 971.6 | 534.4 | 738.2 | 761 | 860.7 | 923.7 |
| Net margin | 2.99% | 5.62% | 12.28% | 6.2% | 7.53% | 7.37% | 7.17% | 6.94% |
| EPS 2 | 8.850 | 18.00 | 38.06 | 20.93 | 28.91 | 29.68 | 33.38 | 37.00 |
| Free Cash Flow 1 | 530.6 | 826.3 | 660.9 | - | 1,170 | 719 | 992.8 | 1,276 |
| FCF margin | 7.01% | 9.86% | 8.35% | - | 11.94% | 6.96% | 8.28% | 9.59% |
| FCF Conversion (EBITDA) | 125.23% | 106.46% | 90.08% | - | 124.68% | 73.24% | 88.76% | 104% |
| FCF Conversion (Net income) | 234.77% | 175.43% | 68.03% | - | 158.51% | 94.48% | 115.35% | 138.12% |
| Dividend per Share 2 | 6.300 | 4.600 | 38.37 | 17.99 | - | 31.31 | 28.67 | 29.83 |
| Announcement Date | 2/26/20 | 2/24/21 | 3/25/22 | 3/31/23 | 4/10/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,377 | - | 2,399 | 2,370 | 2,251 | 1,939 | 2,379 | 2,676 | 2,808 | 1,645 |
| EBITDA 1 | 206.4 | - | 214.4 | 219.2 | 187.2 | 141.3 | 208.8 | 247.8 | - | 153.7 |
| EBIT 1 | 170.7 | - | 177.3 | 182 | 145.7 | 102.3 | 170.3 | 209.1 | 299.4 | 115 |
| Operating Margin | 7.18% | - | 7.39% | 7.68% | 6.47% | 5.28% | 7.16% | 7.81% | 10.66% | 6.99% |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | 169.1 | 235.7 | - | 155.1 |
| Net income 1 | - | 56.38 | 144.9 | 157.3 | 175.9 | 106.3 | 168.4 | 175.7 | 287.8 | 119.1 |
| Net margin | - | - | 6.04% | 6.64% | 7.81% | 5.48% | 7.08% | 6.57% | 10.25% | 7.24% |
| EPS | - | 2.210 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/25/22 | 4/28/22 | 7/27/22 | 10/26/22 | 3/31/23 | 5/10/23 | 7/26/23 | 10/30/23 | 4/10/24 | 5/9/24 |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,187 | 1,934 | 2,478 | 3,030 | 3,696 | 3,520 | 3,977 | 4,378 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 531 | 826 | 661 | - | 1,170 | 719 | 993 | 1,276 |
| ROE (net income / shareholders' equity) | 29.1% | 46.9% | 78.7% | 41.5% | 52.9% | 51.2% | 52.7% | 51.7% |
| ROA (Net income/ Total Assets) | - | - | - | - | 9.34% | 8.7% | 9.2% | 9.3% |
| Assets 1 | - | - | - | - | 7,903 | 8,747 | 9,355 | 9,932 |
| Book Value Per Share 2 | 31.70 | 45.00 | 51.70 | - | 60.00 | 54.30 | 63.50 | 70.10 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 43.8 | 61.3 | 105 | 125 | 142 | 290 | 208 | 209 |
| Capex / Sales | 0.58% | 0.73% | 1.32% | 1.45% | 1.45% | 2.81% | 1.74% | 1.57% |
| Announcement Date | 2/26/20 | 2/24/21 | 3/25/22 | 3/31/23 | 4/10/24 | - | - | - |
1PLN in Million2PLN
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
SELL
Number of Analysts
5
Last Close Price
718.5
PLN
Average target price
590.6
PLN
Spread / Average Target
-17.80%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +10.14% | 4.6B | |
| -7.74% | 68.29B | |
| +0.68% | 58.15B | |
| +24.80% | 39.43B | |
| +16.63% | 32.22B | |
| +8.78% | 28.61B | |
| +17.61% | 21.32B | |
| +11.96% | 18.85B | |
| +45.11% | 17.73B | |
| +74.53% | 17.67B |
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