Cia de Distribucion Integral
🇪🇸 LOG.MC · Madrid · ES0105027009
Infrastructure
EUR 32.96 price at analysis
Scores
Key Metrics
Powered by EODHDP/E (TTM)
12.9
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Calculation: 32.96 ÷ 2.56 = 12.9
TTM period through: 2025-12-31
Forward P/E (estimated): 11.2
Based on analyst estimates
Reference: Provider P/E (Trailing): 15.8
Yield (Fwd)
6.10%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Net Debt/EBITDA (TTM)
-2.5x
Latest quarter: -14.4x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
TTM through: 2025-12-31
Latest quarter (2025-12-31): -14.4x
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
Payout (Fwd)
78.7%
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Payout (TTM): 81.7%
Cash Flow Payout (TTM): 45.9%
FCF Coverage (TTM): 2.02x
ROE
38.6%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
4.9x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Summary
Logista is a high-quality Southern European distribution operator with a fortress net-cash balance sheet and a highly secure dividend. Trading at €32.96 vs our blended fair value estimate of €37-43, this represents roughly a 12-30% upside to fair value, making it worth considering for new positions. The 6.1% yield provides reliable income while investors wait for the temporary oil-driven margin pressures to subside, backed by strong underlying free cash flow coverage.
Sector Context
Logista is a leading Southern European infrastructure and distribution operator, managing the complex supply chain for tobacco, pharmaceuticals, and convenience goods. In the context of dividend investing, its business model naturally runs on thin margins (EBITDA margin 3.77%) but generates massive, predictable volumes and robust free cash flow, making it an excellent vehicle for sustainable dividend income.
Temporary Opportunity Identified
Margin compression driven by soaring global oil prices (Middle East tensions) and necessary investments in last-mile logistics, creating a temporary disconnect between steady revenue growth and declining near-term earnings.
📊 Strategy Analysis
- • Trading at €32.96, below our fair value range of €37-43, offering 12-30% upside alongside an attractive 12.9x P/E.
- • Exceptional balance sheet with a net cash position (Net Debt/EBITDA of -2.53) provides immense stability during current macroeconomic headwinds.
- • Flawless 10-year dividend history with no cuts and a 12.1% CAGR, supported by an excellent free cash flow coverage ratio of 2.02x.
- • Underlying cash generation remains robust with a 45.9% cash flow payout ratio, proving the dividend is well-covered despite distorted accounting metrics.
⚠ What to Watch
- • Elevated global oil prices (above $100/barrel) and inflationary pressures are temporarily compressing margins, reflected in recent earnings declines despite 3.5% 10-year revenue growth.
- • The TTM payout ratio of 100.05% appears superficially concerning and limits near-term dividend growth, though it is heavily mitigated by strong underlying free cash flow.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-04-04
Disclaimer: This information is for educational purposes only. Not financial advice.