Financials LyondellBasell Industries N.V.

Equities

LYB

NL0009434992

Commodity Chemicals

Market Closed - Nyse Other stock markets 21:00:02 26/04/2024 BST			5-day change	1st Jan Change
102.1 ^USD	+2.46%		+1.38%	+7.41%

04-26	Transcript : LyondellBasell Industries N.V., Q1 2024 Earnings Call, Apr 26, 2024
04-26	Mizuho Adjusts Price Target on LyondellBasell Industries to $108 From $98	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,501	30,607	30,477	27,037	30,840	33,256	-	-
Enterprise Value (EV) ¹	42,509	44,099	40,248	36,207	38,667	41,497	41,090	40,939
P/E ratio	9.86 x	21.6 x	5.51 x	7.03 x	41.5 x	12.6 x	10.2 x	9.93 x
Yield	4.39%	4.58%	4.81%	5.66%	5.2%	5.37%	5.21%	5.48%
Capitalization / Revenue	0.91 x	1.1 x	0.66 x	0.54 x	0.75 x	0.82 x	0.94 x	0.95 x
EV / Revenue	1.22 x	1.59 x	0.87 x	0.72 x	0.94 x	1.02 x	1.16 x	1.17 x
EV / EBITDA	7.47 x	13.4 x	4.63 x	5.55 x	7.4 x	8.04 x	7.26 x	6.92 x
EV / FCF	18.8 x	30.3 x	7.02 x	8.56 x	11.3 x	21.3 x	13.6 x	17.4 x
FCF Yield	5.33%	3.3%	14.3%	11.7%	8.82%	4.68%	7.35%	5.75%
Price to Book	3.92 x	3.85 x	2.61 x	2.14 x	2.38 x	2.64 x	2.41 x	2.31 x
Nbr of stocks (in thousands)	333,411	333,919	330,441	325,624	324,362	325,622	-	-
Reference price ²	94.48	91.66	92.23	83.03	95.08	102.1	102.1	102.1
Announcement Date	31/01/20	29/01/21	28/01/22	03/02/23	02/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	34,727	27,753	46,173	50,451	41,107	40,743	35,310	35,051
EBITDA ¹	5,692	3,285	8,689	6,527	5,222	5,161	5,661	5,918
EBIT ¹	4,380	1,900	7,397	5,170	3,766	3,631	4,240	4,410
Operating Margin	12.61%	6.85%	16.02%	10.25%	9.16%	8.91%	12.01%	12.58%
Earnings before Tax (EBT) ¹	4,052	1,386	6,786	4,776	2,627	3,373	4,038	4,321
Net income ¹	3,390	1,420	5,617	3,889	2,114	2,647	3,197	3,442
Net margin	9.76%	5.12%	12.17%	7.71%	5.14%	6.5%	9.05%	9.82%
EPS ²	9.580	4.240	16.75	11.81	2.290	8.090	10.01	10.29
Free Cash Flow ¹	2,267	1,457	5,736	4,229	3,411	1,944	3,019	2,353
FCF margin	6.53%	5.25%	12.42%	8.38%	8.3%	4.77%	8.55%	6.71%
FCF Conversion (EBITDA)	39.83%	44.35%	66.01%	64.79%	65.32%	37.67%	53.32%	39.76%
FCF Conversion (Net income)	66.87%	102.61%	102.12%	108.74%	161.35%	73.44%	94.44%	68.36%
Dividend per Share ²	4.150	4.200	4.440	4.700	4.940	5.480	5.317	5.596
Announcement Date	31/01/20	29/01/21	28/01/22	03/02/23	02/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	12,830	13,157	14,838	12,250	10,206	10,247	10,306	10,625	9,929	9,925	10,351	10,637	9,975	9,470	8,293
EBITDA ¹	1,395	2,020	2,381	1,192	865	1,452	1,450	1,410	910	1,063	1,335	1,450	1,269	1,304	1,386
EBIT ¹	1,535	1,661	2,210	896	487	713	1,122	1,068	586	698	939.5	1,068	847.2	932.3	1,008
Operating Margin	11.96%	12.62%	14.89%	7.31%	4.77%	6.96%	10.89%	10.05%	5.9%	7.03%	9.08%	10.04%	8.49%	9.85%	12.16%
Earnings before Tax (EBT) ¹	866	1,635	2,023	727	389	642	905	901	179	596	892.5	1,006	792	940	942
Net income ¹	726	1,320	1,644	572	353	474	715	747	183	473	722.1	811	641.8	743	747
Net margin	5.66%	10.03%	11.08%	4.67%	3.46%	4.63%	6.94%	7.03%	1.84%	4.77%	6.98%	7.62%	6.43%	7.85%	9.01%
EPS ²	2.180	4.000	4.980	1.750	1.070	1.440	2.180	2.290	0.5600	1.440	2.210	2.478	2.030	2.290	2.310
Dividend per Share ²	1.130	1.130	1.190	1.190	1.190	1.190	1.250	1.250	1.250	1.250	1.370	1.370	1.370	1.356	1.379
Announcement Date	28/01/22	29/04/22	29/07/22	28/10/22	03/02/23	28/04/23	04/08/23	27/10/23	02/02/24	26/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	11,008	13,492	9,771	9,170	7,827	8,241	7,834	7,683
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.934 x	4.107 x	1.125 x	1.405 x	1.499 x	1.597 x	1.384 x	1.298 x
Free Cash Flow ¹	2,267	1,457	5,736	4,229	3,411	1,944	3,019	2,353
ROE (net income / shareholders' equity)	37.2%	23.5%	56.7%	33.5%	22.2%	20.1%	21.3%	22.2%
ROA (Net income/ Total Assets)	11.6%	5.72%	15.6%	11.2%	7.74%	7.2%	7.81%	8.66%
Assets ¹	29,261	24,812	36,034	34,655	27,324	36,764	40,939	39,720
Book Value Per Share ²	24.10	23.80	35.40	38.70	39.90	38.70	42.40	44.20
Cash Flow per Share ²	14.00	10.20	22.70	18.70	15.20	13.40	16.00	15.50
Capex ¹	2,700	1,947	1,866	1,890	1,531	2,100	2,147	2,271
Capex / Sales	7.77%	7.02%	4.04%	3.75%	3.72%	5.15%	6.08%	6.48%
Announcement Date	31/01/20	29/01/21	28/01/22	03/02/23	02/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for LyondellBasell Industries N.V.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

102.1 USD

Average target price

104.9 USD

Spread / Average Target

+2.68%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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