Company Valuation: Bayer AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 46,174 47,476 33,039 18,975 36,360 47,245 - -
Change - 2.82% -30.41% -42.57% 91.62% 29.94% - -
Enterprise Value (EV) 1 79,140 78,749 67,302 51,329 82,696 77,197 74,068 70,803
Change - -0.49% -14.54% -23.73% 61.11% -6.65% -4.05% -4.41%
P/E 46.1x 11.5x -11.2x -7.43x -10.1x 21.8x 15.7x 13.6x
PBR 1.4x 1.22x 1x 0.59x 1.4x 1.68x 1.52x 1.39x
PEG - 0x 0x 0.6x -0.2x -0x 0.4x 0.9x
Capitalization / Revenue 1.05x 0.94x 0.69x 0.41x 0.8x 1.03x 1.01x 0.97x
EV / Revenue 1.8x 1.55x 1.41x 1.1x 1.81x 1.69x 1.58x 1.46x
EV / EBITDA 7.08x 5.83x 5.75x 5.07x 8.55x 7.96x 7.19x 6.39x
EV / EBIT 10.8x 8.51x 8.87x 9.44x 16.2x 13.7x 11.5x 10.1x
EV / FCF 31.9x 19x 28.4x 11.2x 24x -128x 20.7x 17x
FCF Yield 3.13% 5.26% 3.52% 8.94% 4.16% -0.78% 4.83% 5.87%
Dividend per Share 2 2 2.4 0.11 0.11 0.11 0.16 0.558 0.9834
Rate of return 4.26% 4.97% 0.33% 0.57% 0.3% 0.33% 1.16% 2.04%
EPS 2 1.02 4.22 -2.99 -2.6 -3.68 2.211 3.069 3.543
Distribution rate 196% 56.9% -3.68% -4.23% -2.99% 7.24% 18.2% 27.8%
Net sales 1 44,081 50,739 47,637 46,606 45,575 45,772 46,986 48,573
EBITDA 1 11,179 13,513 11,706 10,123 9,669 9,697 10,295 11,076
EBIT 1 7,295 9,257 7,589 5,436 5,108 5,643 6,436 7,027
Net income 1 1,000 4,150 -2,941 -2,552 -3,620 2,141 2,938 3,467
Net Debt 1 32,966 31,273 34,263 32,354 46,336 29,952 26,823 23,558
Reference price 2 47.00 48.32 33.63 19.31 37.01 48.09 48.09 48.09
Nbr of stocks (in thousands) 982,424 982,424 982,424 982,424 982,424 982,424 - -
Announcement Date 01/03/22 28/02/23 05/03/24 04/03/25 04/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.78x11.92x24.16x0.6% 1,028B
30.03x6.68x18.7x1.99% 651B
33.38x7.81x16.15x2.6% 466B
19.33x4.72x11.71x2.81% 346B
19.72x5.16x12.79x3.11% 266B
21.26x4.42x12.58x1.99% 259B
24.43x6.42x11.43x2.62% 208B
12.52x4.56x9.46x4.01% 191B
-45.4x6.61x25.81x2.19% 186B
Average 16.45x 6.48x 15.87x 2.44% 400.19B
Weighted average by Cap. 23.68x 7.73x 17.83x 1.99%

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

-40%: Exceptional extension
d
:
:
SEIZE THE OFFER!