Projected Income Statement: Danone

Forecast Balance Sheet: Danone

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 12,819 11,941 10,500 10,107 10,221 9,129 8,380 7,753
Change - -6.85% -12.07% -3.74% 1.13% -10.68% -8.2% -7.48%
Announcement Date 26/02/20 19/02/21 23/02/22 22/02/23 22/02/24 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Danone

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 951 962 1,043 873 847 1,182 1,226 1,281
Change - 1.16% 8.42% -16.3% -2.98% 39.58% 3.69% 4.46%
Free Cash Flow (FCF) 1 2,510 2,052 2,431 2,091 2,633 2,295 2,382 2,603
Change - -18.25% 18.47% -13.99% 25.92% -12.82% 3.76% 9.31%
Announcement Date 26/02/20 19/02/21 23/02/22 22/02/23 22/02/24 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Danone

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 20.69% 20.19% 18.95% 18.94% 18.44% 16.94% 17.13% 17.57%
EBIT Margin (%) 15.21% 14.04% 13.74% 12.21% 12.6% 12.91% 13.26% 13.53%
EBT Margin (%) 11.34% 10.53% 8.22% 6.62% 6.1% 11.39% 11.84% 12%
Net margin (%) 7.63% 8.28% 7.92% 3.47% 3.19% 7.92% 8.23% 8.44%
FCF / Net Income (%) 9.93% 8.69% 10.01% 7.56% 9.53% 8.36% 8.39% 8.88%

Profitability

        
ROA 5.62% 4.44% 4.96% 4.86% 5.09% 4.93% 5.14% 5.47%
ROE 14.98% 11.7% 11.49% 12.53% 13.39% 13.24% 13.54% 14.04%

Financial Health

        
Leverage (Debt/EBITDA) 2.45x 2.5x 2.28x 1.93x 2.01x 1.96x 1.72x 1.51x
Debt / Free cash flow 5.11x 5.82x 4.32x 4.83x 3.88x 3.98x 3.52x 2.98x

Capital Intensity

        
CAPEX / Current Assets (%) 3.76% 4.07% 4.3% 3.16% 3.07% 4.31% 4.32% 4.37%
CAPEX / EBITDA (%) 18.18% 20.17% 22.66% 16.66% 16.63% 25.43% 25.23% 24.88%
CAPEX / FCF (%) 37.89% 46.88% 42.9% 41.75% 32.17% 51.51% 51.47% 49.19%

Items per share

        
Cash flow per share 1 5.306 4.565 5.374 4.635 5.364 5.369 5.575 6.328
Change - -13.97% 17.73% -13.75% 15.72% 0.1% 103.83% 113.5%
Dividend per Share 1 2.1 1.94 1.94 2 2.1 2.122 2.243 2.386
Change - -7.62% 0% 3.09% 5% 1.05% 105.71% 106.38%
Book Value Per Share 1 26.57 24.94 27.07 28.02 25.2 27.93 29.35 30.63
Change - -6.14% 8.54% 3.52% -10.07% 10.84% 105.08% 104.34%
EPS 1 2.95 2.99 2.94 1.48 1.3 3.416 3.641 3.851
Change - 1.36% -1.67% -49.66% -12.16% 162.8% 106.58% 105.76%
Nbr of stocks (in thousands) 648,339 649,380 650,849 626,246 641,543 643,653 643,653 643,653
Announcement Date 26/02/20 19/02/21 23/02/22 22/02/23 22/02/24 - - -
1EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
58.56EUR
Average target price
63.35EUR
Spread / Average Target
+8.19%
Consensus