Company Valuation: Givaudan SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 44,220 26,140 32,148 36,595 29,035 24,919 - -
Change - -40.89% 22.98% 13.83% -20.66% -14.18% - -
Enterprise Value (EV) 1 48,610 30,670 36,453 40,597 32,713 28,309 27,944 27,612
Change - -36.91% 18.86% 11.37% -19.42% -13.46% -1.29% -1.19%
P/E ratio 54.2x 30.6x 36.1x 33.7x 27.2x 23.5x 21.5x 20.2x
PBR 11.3x 6.18x 8.06x 8x 6.4x 5.08x 4.64x 4.24x
PEG - 6.53x 8.43x 1.5x -14.74x -41.34x 2.24x 3.38x
Capitalization / Revenue 6.62x 3.67x 4.65x 4.94x 3.89x 3.31x 3.16x 3.02x
EV / Revenue 7.27x 4.31x 5.27x 5.48x 4.38x 3.76x 3.54x 3.35x
EV / EBITDA 32.8x 20.8x 24.7x 23x 18.7x 16.1x 15x 14.1x
EV / EBIT 44.6x 27.6x 32.7x 29.1x 23.7x 20.2x 18.6x 17.4x
EV / FCF 47.1x 47.6x 33.2x 30.5x 27.1x 26.7x 24.3x 23.3x
FCF Yield 2.12% 2.1% 3.01% 3.28% 3.69% 3.74% 4.12% 4.28%
Dividend per Share 2 66 67 68 68 70 73.86 75.84 78.48
Rate of return 1.38% 2.36% 1.95% 1.71% 2.23% 2.74% 2.81% 2.91%
EPS 2 88.37 92.51 96.47 117.6 115.5 114.8 125.8 133.3
Distribution rate 74.7% 72.4% 70.5% 57.8% 60.6% 64.3% 60.3% 58.9%
Net sales 1 6,684 7,117 6,915 7,412 7,472 7,538 7,890 8,248
EBITDA 1 1,482 1,476 1,473 1,765 1,751 1,759 1,866 1,955
EBIT 1 1,089 1,112 1,116 1,394 1,381 1,398 1,504 1,584
Net income 1 821 856 893 1,090 1,071 1,064 1,171 1,247
Net Debt 1 4,390 4,530 4,305 4,002 3,678 3,390 3,025 2,694
Reference price 2 4,792.00 2,833.00 3,484.00 3,966.00 3,146.00 2,700.00 2,700.00 2,700.00
Nbr of stocks (in thousands) 9,228 9,227 9,227 9,227 9,229 9,229 - -
Announcement Date 28/01/22 25/01/23 25/01/24 24/01/25 29/01/26 - - -
1CHF in Million2CHF
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.52x3.76x16.09x2.74% 31.67B
31.03x4.54x18.36x1.17% 69.69B
19.32x2.37x12.25x2.76% 28.24B
14.72x3.66x8.26x2.3% 24.07B
14.02x1.35x8.55x2.25% 23.43B
17.29x3.68x8.23x0.9% 21.27B
31.3x7.53x23.13x2.95% 19.58B
391.48x7.34x67.9x0.11% 13.98B
29.23x3.61x14.5x0.35% 13.52B
15.03x1.6x6.41x2.03% 12.5B
Average 58.70x 3.94x 18.37x 1.76% 25.79B
Weighted average by Cap. 43.31x 3.95x 17.01x 1.79%

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