Company Valuation: Ahold Delhaize N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 30,783 26,731 24,866 28,908 30,659 31,550 - -
Change - -13.17% -6.98% 16.26% 6.06% 2.9% - -
Enterprise Value (EV) 1 44,729 41,147 39,133 43,037 45,358 46,658 46,729 46,753
Change - -8.01% -4.89% 9.98% 5.39% 2.87% 0.15% 0.05%
P/E ratio 14x 10.8x 13.4x 16.6x 13.8x 13.1x 12.2x 11.3x
PBR 2.27x 1.77x 1.67x 1.86x 2.16x 2.1x 1.97x 1.83x
PEG - 0.6x -0.6x -6.44x 0.4x 1.37x 1.6x 1.42x
Capitalization / Revenue 0.41x 0.31x 0.28x 0.32x 0.33x 0.34x 0.33x 0.32x
EV / Revenue 0.59x 0.47x 0.44x 0.48x 0.49x 0.5x 0.49x 0.47x
EV / EBITDA 7.06x 5.75x 5.54x 6.08x 6.2x 6.28x 6.17x 6.01x
EV / EBIT 13.4x 11x 10.9x 11.9x 12.1x 12.4x 12x 11.6x
EV / FCF 27.6x 18.8x 16.1x 16.9x 17.4x 20.2x 20.6x 19.7x
FCF Yield 3.62% 5.32% 6.2% 5.91% 5.73% 4.94% 4.85% 5.08%
Dividend per Share 2 0.95 1.05 1.1 1.17 1.24 1.277 1.368 1.456
Rate of return 3.13% 3.84% 4.22% 3.73% 3.59% 3.56% 3.82% 4.06%
EPS 2 2.17 2.54 1.94 1.89 2.5 2.739 2.948 3.182
Distribution rate 43.8% 41.3% 56.7% 61.9% 49.6% 46.6% 46.4% 45.8%
Net sales 1 75,601 86,984 88,649 89,356 92,352 93,732 95,950 98,890
EBITDA 1 6,335 7,161 7,066 7,083 7,319 7,425 7,576 7,782
EBIT 1 3,331 3,728 3,604 3,608 3,734 3,767 3,884 4,037
Net income 1 2,246 2,546 1,874 1,764 2,264 2,425 2,539 2,664
Net Debt 1 13,946 14,416 14,267 14,129 14,699 15,108 15,179 15,203
Reference price 2 30.34 27.35 26.06 31.38 34.57 35.85 35.85 35.85
Nbr of stocks (in thousands) 1,014,615 977,353 954,186 921,239 886,877 880,046 - -
Announcement Date 16/02/22 15/02/23 14/02/24 12/02/25 11/02/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.09x0.5x6.28x3.56% 36.43B
40.9x1.32x20.14x0.84% 946B
28.87x1.23x10.65x0.94% 54.59B
14.96x0.53x7.71x3.44% 38.54B
12.38x0.36x6.47x2.27% 38.95B
18.95x0.57x10.89x2.83% 36.48B
41.06x0.83x9.73x2.64% 30.83B
22.69x0.76x6.38x1.29% 27.92B
48.69x0.72x11.73x1.08% 23.38B
21.59x0.56x10.99x-.--% 18.63B
Average 26.32x 0.74x 10.10x 1.89% 125.18B
Weighted average by Cap. 36.70x 1.17x 17.39x 1.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Ahold Delhaize N.V.