Financials Bayer AG

Equities

BAYN

DE000BAY0017

Pharmaceuticals

Market Closed - Xetra 16:42:59 21/06/2024 BST 5-day change 1st Jan Change
26 EUR 0.00% Intraday chart for Bayer AG -3.93% -22.69%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 71,530 47,309 46,174 47,476 33,039 25,543 - -
Enterprise Value (EV) 1 105,598 84,884 79,140 78,749 67,302 58,967 56,159 52,718
P/E ratio 17.5 x -4.51 x 46.1 x 11.5 x -11.2 x 10.9 x 7.87 x 7.62 x
Yield 3.85% 4.15% 4.26% 4.97% 0.33% 0.42% 0.42% 4.32%
Capitalization / Revenue 1.64 x 1.14 x 1.05 x 0.94 x 0.69 x 0.54 x 0.53 x 0.53 x
EV / Revenue 2.43 x 2.05 x 1.8 x 1.55 x 1.41 x 1.25 x 1.17 x 1.09 x
EV / EBITDA 9.18 x 7.41 x 7.08 x 5.83 x 6.33 x 5.73 x 5.24 x 4.8 x
EV / FCF 19 x 34.2 x 31.9 x 19 x 28.4 x 17.9 x 12.6 x 12.4 x
FCF Yield 5.26% 2.93% 3.13% 5.26% 3.52% 5.59% 7.91% 8.08%
Price to Book 1.51 x 1.55 x 1.4 x 1.22 x 1 x 0.74 x 0.67 x 0.62 x
Nbr of stocks (in thousands) 982,424 982,424 982,424 982,424 982,424 982,424 - -
Reference price 2 72.81 48.16 47.00 48.32 33.63 26.00 26.00 26.00
Announcement Date 27/02/20 25/02/21 01/03/22 28/02/23 05/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 43,545 41,400 44,081 50,739 47,637 47,046 47,815 48,510
EBITDA 1 11,503 11,461 11,179 13,513 10,632 10,288 10,710 10,974
EBIT 1 7,007 7,095 7,295 9,257 7,589 6,640 6,946 7,129
Operating Margin 16.09% 17.14% 16.55% 18.24% 15.93% 14.11% 14.53% 14.7%
Earnings before Tax (EBT) 1 2,880 -17,250 2,046 4,670 -1,621 3,361 3,968 4,281
Net income 1 4,091 -10,495 1,000 4,150 -2,941 2,334 3,234 3,394
Net margin 9.39% -25.35% 2.27% 8.18% -6.17% 4.96% 6.76% 7%
EPS 2 4.170 -10.68 1.020 4.220 -2.990 2.379 3.305 3.411
Free Cash Flow 1 5,557 2,485 2,478 4,144 2,366 3,296 4,444 4,259
FCF margin 12.76% 6% 5.62% 8.17% 4.97% 7.01% 9.3% 8.78%
FCF Conversion (EBITDA) 48.31% 21.68% 22.17% 30.67% 22.25% 32.03% 41.5% 38.81%
FCF Conversion (Net income) 135.83% - 247.8% 99.86% - 141.18% 137.45% 125.48%
Dividend per Share 2 2.800 2.000 2.000 2.400 0.1100 0.1103 0.1103 1.123
Announcement Date 27/02/20 25/02/21 01/03/22 28/02/23 05/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2
Net sales 1 22,899 18,501 11,118 14,639 12,819 11,281 12,000 14,389 11,044 10,342 11,862 13,765 11,052 24,831 10,376 11,963 22,454 - -
EBITDA 1 7,274 - 2,395 5,251 3,349 2,451 2,462 4,471 2,527 1,685 3,023 4,412 2,341 6,738 1,623 2,315 3,941 - -
EBIT 1 - - 1,383 4,172 2,280 1,352 1,453 3,404 1,534 709 1,942 3,299 1,269 - 788.9 1,280 - - -
Operating Margin - - 12.44% 28.5% 17.79% 11.98% 12.11% 23.66% 13.89% 6.86% 16.37% 23.97% 11.48% - 7.6% 10.7% - - -
Earnings before Tax (EBT) - - 1,497 3,722 -523 601 870 2,606 -1,574 -4,297 1,644 - - - - - - - -
Net income 1 - - 1,161 3,291 -298 546 611 2,178 -1,887 -4,569 1,337 2,000 84.53 - -305.8 -201.4 - - -
Net margin - - 10.44% 22.48% -2.32% 4.84% 5.09% 15.14% -17.09% -44.18% 11.27% 14.53% 0.76% - -2.95% -1.68% - - -
EPS 2 - - 1.180 3.350 -0.3000 0.5600 0.6200 2.220 -1.920 -4.660 1.360 2.040 0.0854 - -0.3110 -0.2052 - - -
Dividend per Share 2 - - 2.000 - - - 2.400 - - - 0.1100 - 0.0275 - 0.0275 0.0275 - 0.0275 0.0275
Announcement Date 04/08/20 25/02/21 01/03/22 10/05/22 04/08/22 08/11/22 28/02/23 11/05/23 08/08/23 08/11/23 05/03/24 13/05/24 - - - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 34,068 37,575 32,966 31,273 34,263 33,424 30,616 27,175
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.962 x 3.279 x 2.949 x 2.314 x 3.223 x 3.249 x 2.859 x 2.476 x
Free Cash Flow 1 5,557 2,485 2,478 4,144 2,366 3,296 4,444 4,259
ROE (net income / shareholders' equity) 13.5% 16.2% 20.1% 8.65% 17.5% 14.5% 14.4% 13.5%
ROA (Net income/ Total Assets) 3.23% -8.63% 0.84% 3.39% -2.44% 0.73% 1.55% 2.62%
Assets 1 126,495 121,611 118,526 122,560 120,567 319,156 208,533 129,465
Book Value Per Share 2 48.20 31.10 33.60 39.50 33.50 35.10 38.70 42.10
Cash Flow per Share 2 8.360 4.990 5.180 7.220 5.210 6.020 8.310 8.290
Capex 1 2,650 2,418 2,611 2,949 2,751 2,931 2,913 3,000
Capex / Sales 6.09% 5.84% 5.92% 5.81% 5.77% 6.23% 6.09% 6.18%
Announcement Date 27/02/20 25/02/21 01/03/22 28/02/23 05/03/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
22
Last Close Price
26 EUR
Average target price
36.18 EUR
Spread / Average Target
+39.16%
Consensus