Company Valuation: Danone

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,530 30,830 37,646 41,915 49,156 38,765 - -
Change - -13.23% 22.11% 11.34% 17.28% -21.14% - -
Enterprise Value (EV) 1 46,030 40,937 47,867 50,516 57,587 47,542 46,670 46,241
Change - -11.06% 16.93% 5.53% 14% -17.44% -1.83% -0.92%
P/E 18.6x 33.3x 45.1x 20.8x 27.2x 16x 14.6x 13.7x
PBR 2.02x 1.76x 2.33x 2.59x 2.93x 2.18x 2.06x 1.96x
PEG - -0.7x -3.7x 0x -2.75x 0.5x 1.55x 2.05x
Capitalization / Revenue 1.46x 1.11x 1.36x 1.53x 1.8x 1.38x 1.31x 1.27x
EV / Revenue 1.9x 1.48x 1.73x 1.85x 2.11x 1.69x 1.58x 1.51x
EV / EBITDA 10x 7.81x 9.4x 10.7x 11.5x 9.53x 8.84x 8.35x
EV / EBIT 13.8x 12.1x 13.8x 14.2x 15.7x 12.4x 11.4x 10.7x
EV / FCF 18.9x 19.6x 18.2x 16.8x 20.6x 19.2x 16.4x 15.5x
FCF Yield 5.28% 5.11% 5.5% 5.94% 4.86% 5.2% 6.09% 6.45%
Dividend per Share 2 1.94 2 2.1 2.15 2.25 2.353 2.495 2.661
Rate of return 3.55% 4.06% 3.58% 3.3% 2.93% 3.9% 4.14% 4.42%
EPS 2 2.94 1.48 1.3 3.13 2.82 3.761 4.115 4.39
Distribution rate 66% 135% 162% 68.7% 79.8% 62.6% 60.6% 60.6%
Net sales 1 24,281 27,661 27,619 27,376 27,283 28,192 29,482 30,602
EBITDA 1 4,602 5,240 5,092 4,726 5,020 4,990 5,277 5,540
EBIT 1 3,337 3,377 3,481 3,558 3,665 3,838 4,093 4,321
Net income 1 1,924 959 881 2,021 1,825 2,356 2,590 2,762
Net Debt 1 10,500 10,107 10,221 8,601 8,431 8,777 7,905 7,476
Reference price 2 54.59 49.23 58.68 65.12 76.78 60.26 60.26 60.26
Nbr of stocks (in thousands) 650,849 626,246 641,543 643,653 640,218 643,298 - -
Announcement Date 23/02/22 22/02/23 22/02/24 26/02/25 20/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.08x2.75x13.73x4.12% 238B
19.37x2.45x14.58x3.38% 77.66B
16.1x1.69x9.56x3.89% 44.66B
15.77x0.56x10.06x2.49% 41.05B
20.56x3.13x12.71x3.4% 34.12B
33.6x2.92x16.98x1.1% 29.82B
-8.61x1.87x9.3x6.57% 28.97B
62.68x9.62x39.88x1.22% 27.19B
11.78x0.38x8.71x2.49% 22.21B
Average 21.26x 2.82x 15.06x 3.18% 60.44B
Weighted average by Cap. 20.36x 2.69x 14.21x 3.58%

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
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