Financials EUROAPI

Equities

EAPI

FR0014008VX5

Pharmaceuticals

Market Closed - Euronext Paris Other stock markets 11:38:00 2024-06-07 am EDT			5-day change	1st Jan Change
3.186 ^EUR	-17.89%		-11.75%	-44.40%

Jun. 07	EuroAPI appoints mediator to help restructure pile of debt, shares drop	RE
Jun. 07	Euroapi: ad hoc mandate for the financing of Focus-27	CF

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	1,302	543.9	303.9	-	-
Enterprise Value (EV) ¹	1,348	734.9	427.4	436.4	414.4
P/E ratio	-86.6 x	-2.84 x	-5.16 x	-13.8 x	13.9 x
Yield	-	-	-	-	8.5%
Capitalization / Revenue	1.33 x	0.54 x	0.33 x	0.32 x	0.32 x
EV / Revenue	1.38 x	0.73 x	0.46 x	0.46 x	0.43 x
EV / EBITDA	11.2 x	7.89 x	7.78 x	4.62 x	3.43 x
EV / FCF	-11 x	-5.75 x	6.72 x	-82.9 x	11 x
FCF Yield	-9.09%	-17.4%	14.9%	-1.21%	9.05%
Price to Book	1.17 x	0.59 x	0.34 x	0.35 x	0.35 x
Nbr of stocks (in thousands)	94,010	94,913	95,374	-	-
Reference price ²	13.85	5.730	3.186	3.186	3.186
Announcement Date	3/8/23	2/28/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	976.6	1,013	922.4	943.1	964.5
EBITDA ¹	-	120	93.1	54.92	94.48	120.6
EBIT ¹	-	47.3	16.7	-18.01	40.76	52.8
Operating Margin	-	4.84%	1.65%	-1.95%	4.32%	5.47%
Earnings before Tax (EBT) ¹	-	3.1	-242.8	-44.33	-18.72	28.92
Net income ¹	-15.8	-15	-189.7	-58.29	-21.88	21.43
Net margin	-	-1.54%	-18.72%	-6.32%	-2.32%	2.22%
EPS ²	-0.1800	-0.1600	-2.020	-0.6170	-0.2310	0.2292
Free Cash Flow ¹	-	-122.6	-127.7	63.63	-5.267	37.5
FCF margin	-	-12.55%	-12.6%	6.9%	-0.56%	3.89%
FCF Conversion (EBITDA)	-	-	-	115.86%	-	31.08%
FCF Conversion (Net income)	-	-	-	-	-	174.99%
Dividend per Share ²	-	-	-	-	-	0.2708
Announcement Date	4/29/22	3/8/23	2/28/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2	2023 S1	2023 S2
Net sales ¹	483.8	492.8	496.6	516.6
EBITDA ¹	70.3	49.7	62.5	30.6
EBIT ¹	35.6	11.7	26.4	-9.7
Operating Margin	7.36%	2.37%	5.32%	-1.88%
Earnings before Tax (EBT)	-	-	-	-
Net income	-	-	-	-
Net margin	-	-	-	-
EPS	-	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	9/1/22	3/8/23	8/1/23	2/28/24

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	46.3	191	124	133	111
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.3858 x	2.052 x	2.249 x	1.402 x	0.9159 x
Free Cash Flow ¹	-	-123	-128	63.6	-5.27	37.5
ROE (net income / shareholders' equity)	-	3.77%	0.64%	-3.8%	-1.45%	2.16%
ROA (Net income/ Total Assets)	-	2.39%	0.39%	-3.3%	-1.13%	1.31%
Assets ¹	-	-628.1	-48,787	1,764	1,939	1,642
Book Value Per Share ²	-	11.80	9.670	9.300	9.070	9.220
Cash Flow per Share ²	-	0.4700	0.0500	1.030	0.6900	1.020
Capex ¹	-	167	133	115	111	93.8
Capex / Sales	-	17.14%	13.11%	12.51%	11.73%	9.72%
Announcement Date	4/29/22	3/8/23	2/28/24	-	-	-

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

Ratings for EUROAPI

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3.186 EUR

Average target price

3.52 EUR

Spread / Average Target

+10.48%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Pharmaceuticals

	1st Jan change	Capi.
EUROAPI	-44.40%	328M
ELI LILLY AND COMPANY	+45.82%	765B
NOVO NORDISK A/S	+40.95%	632B
JOHNSON & JOHNSON	-6.16%	354B
MERCK & CO., INC.	+19.86%	331B
ABBVIE INC.	+9.32%	299B
ASTRAZENECA PLC	+18.45%	248B
ROCHE HOLDING AG	-0.78%	219B
NOVARTIS AG	+11.88%	216B
AMGEN INC.	+5.90%	164B

Other Pharmaceuticals