Company Valuation: Cochlear Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,546 13,070 15,043 21,754 19,647 8,109 - -
Change - -21.01% 15.1% 44.62% -9.69% -58.72% - -
Enterprise Value (EV) 1 15,981 12,440 14,689 21,240 19,371 7,897 7,835 7,777
Change - -22.16% 18.08% 44.6% -8.8% -59.23% -0.79% -0.74%
P/E 50.7x 45.2x 50.1x 61x 50.7x 33.1x 24.7x 21.8x
PBR 9.72x 7.75x 8.63x 11.9x 10.1x 4.24x 4.05x 3.82x
PEG - -3.9x 12.65x 3.2x 5.72x -0.9x 0.7x 1.7x
Capitalization / Revenue 11.1x 7.93x 7.69x 9.63x 8.38x 3.49x 3.36x 3.15x
EV / Revenue 10.7x 7.55x 7.51x 9.41x 8.27x 3.4x 3.25x 3.02x
EV / EBITDA 39x 27.3x 30.8x 36x 31.7x 16.1x 14.1x 12.8x
EV / EBIT 48.4x 32.5x 37.1x 42.1x 37.2x 20.2x 17.3x 15.5x
EV / FCF 69.5x 37.5x 47x 65.1x 143x 31.3x 23.7x 22.1x
FCF Yield 1.44% 2.67% 2.13% 1.54% 0.7% 3.2% 4.21% 4.52%
Dividend per Share 2 2.55 3 3.3 4.1 4.3 3.408 3.713 4.047
Rate of return 1.01% 1.51% 1.44% 1.23% 1.43% 2.75% 2.99% 3.26%
EPS 2 4.967 4.396 4.57 5.445 5.928 3.742 5.019 5.679
Distribution rate 51.3% 68.2% 72.2% 75.3% 72.5% 91.1% 74% 71.3%
Net sales 1 1,493 1,648 1,956 2,258 2,343 2,322 2,411 2,572
EBITDA 1 409.7 455.7 477 589.7 611.7 489.4 555.6 608.2
EBIT 1 330.2 382.7 396.1 504.8 521.3 391 454.1 501.8
Net income 1 326.5 289.1 300.6 356.8 388.9 241.3 324.3 374.3
Net Debt 1 -564.6 -629.3 -353.7 -513.6 -275.7 -212 -274.2 -332.3
Reference price 2 251.67 198.70 229.07 332.15 300.42 124.00 124.00 124.00
Nbr of stocks (in thousands) 65,744 65,775 65,668 65,494 65,397 65,399 - -
Announcement Date 19/08/21 18/08/22 14/08/23 14/08/24 14/08/25 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.14x3.4x16.14x2.75% 5.68B
20.64x3.41x12.43x2.27% 15.26B
18.76x2.43x9.47x2% 3.94B
18.63x2.08x10.25x-.--% 1.72B
52.7x3.24x25.8x0.87% 1.64B
21.32x4.3x12.91x0.93% 1.21B
-23.2x - - - 455M
Average 20.28x 3.14x 14.50x 1.47% 4.27B
Weighted average by Cap. 23.76x 3.23x 13.38x 2.06%

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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