CEGEDIM |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.4 EUR | +0.70% |
|
+5.11% | -19.37% |
| May. 03 | Cegedim: contract for Claude Bernard in Wallonia | CF |
| Apr. 26 | Cegedim: 7% sales growth in Q1 | CF |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 402.1 | 352.6 | 331.1 | 198.9 | 243.6 | 195.5 | - | - |
| Enterprise Value (EV) 1 | 649.2 | 594.3 | 582.4 | 427.9 | 482.1 | 378 | 350.2 | 328.5 |
| P/E ratio | 145 x | 31.9 x | 12.6 x | 14.6 x | -35.7 x | 10.1 x | 8.78 x | 11.9 x |
| Yield | - | - | 2.08% | - | - | 3.82% | 2.43% | - |
| Capitalization / Revenue | 0.8 x | 0.71 x | 0.63 x | 0.36 x | 0.4 x | 0.3 x | 0.28 x | 0.28 x |
| EV / Revenue | 1.29 x | 1.2 x | 1.11 x | 0.77 x | 0.78 x | 0.58 x | 0.51 x | 0.46 x |
| EV / EBITDA | 6.41 x | 5.72 x | 5.56 x | 4.45 x | 4.43 x | 3.11 x | 2.73 x | 2.53 x |
| EV / FCF | -26.2 x | 45.5 x | 24.1 x | 41.4 x | 21.5 x | 13.5 x | 10.5 x | 10.6 x |
| FCF Yield | -3.82% | 2.2% | 4.15% | 2.42% | 4.65% | 7.39% | 9.53% | 9.44% |
| Price to Book | 2 x | 1.7 x | 1.43 x | 0.7 x | 0.83 x | 0.65 x | 0.6 x | 0.66 x |
| Nbr of stocks (in thousands) | 13,865 | 13,826 | 13,796 | 13,660 | 13,638 | 13,578 | - | - |
| Reference price 2 | 29.00 | 25.50 | 24.00 | 14.56 | 17.86 | 14.40 | 14.40 | 14.40 |
| Announcement Date | 3/19/20 | 3/18/21 | 3/24/22 | 3/23/23 | 3/27/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 503.7 | 496.9 | 524.7 | 555.6 | 616 | 652 | 690.1 | 709.4 |
| EBITDA 1 | 101.2 | 103.9 | 104.7 | 96.2 | 108.8 | 121.5 | 128.3 | 130 |
| EBIT 1 | 37.1 | 41.46 | 39.9 | 25.67 | 31.67 | 42.1 | 46.75 | 42.2 |
| Operating Margin | 7.36% | 8.34% | 7.6% | 4.62% | 5.14% | 6.46% | 6.77% | 5.95% |
| Earnings before Tax (EBT) | 7.613 | 12.9 | 33.32 | 17.7 | 8.102 | - | - | - |
| Net income 1 | 2.697 | 10.84 | 26.22 | 13.62 | -7.407 | 21.15 | 24 | 20.1 |
| Net margin | 0.54% | 2.18% | 5% | 2.45% | -1.2% | 3.24% | 3.48% | 2.83% |
| EPS 2 | 0.2000 | 0.8000 | 1.900 | 1.000 | -0.5000 | 1.430 | 1.640 | 1.210 |
| Free Cash Flow 1 | -24.8 | 13.07 | 24.18 | 10.34 | 22.43 | 27.95 | 33.37 | 31 |
| FCF margin | -4.92% | 2.63% | 4.61% | 1.86% | 3.64% | 4.29% | 4.84% | 4.37% |
| FCF Conversion (EBITDA) | - | 12.58% | 23.1% | 10.75% | 20.61% | 23% | 26.01% | 23.85% |
| FCF Conversion (Net income) | - | 120.63% | 92.22% | 75.9% | - | 132.15% | 139.03% | 154.23% |
| Dividend per Share 2 | - | - | 0.5000 | - | - | 0.5500 | 0.3500 | - |
| Announcement Date | 3/19/20 | 3/18/21 | 3/24/22 | 3/23/23 | 3/27/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 236.2 | - | 124.8 | 148.7 | - | 129.2 | 138.3 | 267.6 | 133.3 | 154.7 | - | 145.9 | 155.1 | 301 | 148.3 | 166.6 | - | 155.9 |
| EBITDA | 38.2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 6.3 | - | - | - | 29.15 | - | - | 6.8 | - | - | 18.87 | - | - | 10.7 | - | - | 20.97 | - |
| Operating Margin | 2.67% | - | - | - | - | - | - | 2.54% | - | - | - | - | - | 3.55% | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | 6.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | 0.5000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 9/24/20 | 9/27/21 | 10/28/21 | 3/24/22 | 3/24/22 | 4/28/22 | 9/23/22 | - | 10/27/22 | 3/23/23 | 3/23/23 | 4/27/23 | 9/27/23 | - | 10/26/23 | 3/27/24 | 3/27/24 | 4/25/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 247 | 242 | 251 | 229 | 238 | 182 | 155 | 133 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.441 x | 2.326 x | 2.4 x | 2.381 x | 2.191 x | 1.502 x | 1.205 x | 1.023 x |
| Free Cash Flow 1 | -24.8 | 13.1 | 24.2 | 10.3 | 22.4 | 28 | 33.4 | 31 |
| ROE (net income / shareholders' equity) | 5.2% | 5.3% | 11.9% | 5.27% | -2.64% | 6.4% | 6.75% | 5.7% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 14.50 | 15.00 | 16.80 | 20.90 | 21.60 | 22.30 | 24.00 | 21.90 |
| Cash Flow per Share 2 | - | 7.980 | 6.960 | 6.330 | 7.190 | 7.390 | 8.420 | - |
| Capex 1 | 62.4 | 74.5 | 64.8 | 76.1 | 75.5 | 71.3 | 77.8 | 70.3 |
| Capex / Sales | 12.38% | 15% | 12.34% | 13.7% | 12.25% | 10.93% | 11.27% | 9.91% |
| Announcement Date | 3/19/20 | 3/18/21 | 3/24/22 | 3/23/23 | 3/27/24 | - | - | - |
1EUR in Million2EUR
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
14.4
EUR
Average target price
18.03
EUR
Spread / Average Target
+25.23%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -19.37% | 212M | |
| +11.15% | 322B | |
| +18.98% | 209B | |
| -7.01% | 135B | |
| +15.40% | 58.88B | |
| +10.82% | 31.88B | |
| +5.26% | 31.14B | |
| +141.36% | 27.04B | |
| +28.26% | 21.23B | |
| +4.40% | 13.6B |
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