Valuation ratios

A A A
    2009 2010 2011 2012 2013
 
Enterprise Value
Market capitalization* PLN m 4 130.8 4 720.8 3 026.0 5 351.0 4 603.9
Non-current borrowings, other debt instruments and finance lease liabilities PLN m 4 942.6 4 403.5 5 161.5 4 462.1 4 496.2
Current borrowings, other debt instruments and finance lease liabilities PLN m 748.6 1 923.3 2 427.2 2 094.6 1 715.2
Non-controlling interests PLN m 36.8 14.7 1.0 0.7 0.3
Cash and cash equivalents PLN m -345.1 -382.6 -383.7 -268.3 -503.7
EV PLN m 9 513.7 10 679.7 10 232.0 11 640.1 10 311.9
 
EV/EBITDA
EV PLN m 9 513.7 10 679.7 10 232.0 11 640.1 10 311.9
EBITDA PLN m 735.2 1 451.3 1 694.1 979.3 802.6
EV/EBITDA   12.94 7.36 6.04 11.89 12.85
 
Price to earnings (P/E)
Market capitalization* PLN m 31.8 36.4 23.3 41.2 35.4
Sales PLN m 7.4 5.2 5.0 7.1 0.3
P/S   4.27 6.95 4.66 5.80 118.00
 
Market capitalization to book value (P/BV)
Kapitalizacja rynkowa* mln zł 4 130.8 4 720.8 3 026.0 5 351.0 4 603.9
Wartość księgowa mln zł 6 846.2 7 513.5 7 782.4 9 066.4 9 189.6
P/BV   0.60 0.63 0.38 0.59 0.50
 
Market capitalization to sales (P/S)
Market capitalization* PLN m 4 130.8 4 720.8 3 026.0 5 351.0 4 603.9
Total Assets PLN m 14 321.0 19 662.8 29 259.6 33 111.0 28 597.3
Market capitalization to assets   0.29 0.24 0.10 0.16 0.16
 
Market capitalization to assets
Kapitalizacja rynkowa* mln zł 4 130.8 4 720.8 3 026.0 5 351.0 4 603.9
Aktywa mln zł 15 216.0 17 727.4 20 396.6 20 027.6 20 299.6
Kapitalizacja rynkowa do aktywów   0.27 0.27 0.15 0.27 0.23
 
Market capitalization to CFO
Market capitalization* PLN m 4 130.8 4 720.8 3 026.0 5 351.0 4 603.9
Cash flow from operating activities PLN m 695.0 882.7 902.4 1 347.1 1 436.5
Market capitalization to CFO   5.94 5.35 3.35 3.97 3.20
* close price on the WSE on December 31


Enterprise value - market capitalization plus long-term and short-term debt, and minority interest, net of cash and cash equivalents