Company Valuation: Nestlé Nigeria Plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,233,769 871,922 871,922 693,574 1,552,021 2,179,805 - -
Change - -29.33% 0% -20.45% 123.77% 40.45% - -
Enterprise Value (EV) 1 1,210,118 909,471 1,106,686 1,324,825 1,992,893 2,496,050 2,419,378 2,372,969
Change - -24.84% 21.68% 19.71% 50.43% 25.25% -3.07% -1.92%
P/E 30.8x 17.8x -11x -4.21x 14.8x 14.5x 12.1x 10.1x
PBR 57.7x 28.8x -11x -7.52x 120x 22.1x 16x 12.3x
PEG - 0.8x 0x -0x -0x 0.3x 0.6x 0.5x
Capitalization / Revenue 3.51x 1.95x 1.59x 0.72x 1.29x 1.59x 1.39x 1.22x
EV / Revenue 3.44x 2.04x 2.02x 1.38x 1.65x 1.82x 1.54x 1.33x
EV / EBITDA 15.1x 9.41x 8.17x 6.74x 7.53x 7.49x 6.22x 5.35x
EV / EBIT 16.8x 10.5x 8.94x 7.89x 8.84x 8.61x 7.13x 6.12x
EV / FCF 27.9x -28.3x 51.6x -19.9x 7.94x 15.3x 11.8x 10.3x
FCF Yield 3.58% -3.54% 1.94% -5.04% 12.6% 6.53% 8.48% 9.67%
Dividend per Share 2 50.5 51.5 - - - 40.54 158.3 199
Rate of return 3.24% 4.68% - - - 1.47% 5.76% 7.24%
EPS 2 50.51 61.77 -100.3 -207.6 132.4 189.4 227.5 271
Distribution rate 100% 83.4% - - - 21.4% 69.6% 73.4%
Net sales 1 351,822 446,819 547,119 958,815 1,207,773 1,373,961 1,570,491 1,779,598
EBITDA 1 80,375 96,619 135,461 196,700 264,494 333,202 389,086 443,464
EBIT 1 71,966 86,866 123,788 167,876 225,383 289,744 339,479 387,494
Net income 1 40,037 48,965 -79,474 -164,595 104,966 150,116 180,359 214,795
Net Debt 1 -23,651 37,549 234,764 631,251 440,872 316,245 239,573 193,164
Reference price 2 1,556.50 1,100.00 1,100.00 875.00 1,958.00 2,750.00 2,750.00 2,750.00
Nbr of stocks (in thousands) 792,656 792,656 792,656 792,656 792,656 792,656 - -
Announcement Date 01/03/22 28/02/23 27/02/24 26/02/25 25/02/26 - - -
1NGN in Million2NGN
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.52x1.82x7.49x1.47% 1.62B
21.87x2.95x14.52x3.75% 260B
19.59x2.51x14.96x3.27% 80.37B
16.65x1.73x9.81x3.77% 44.6B
14.61x0.52x9.38x2.64% 38.08B
20.39x3.11x12.64x3.43% 33.8B
34.32x2.97x17.34x1.08% 30.37B
26.31x5.55x17.69x3.18% 29.98B
-8.72x1.88x9.4x6.49% 29.33B
17.82x1.71x12.08x4.78% 27.11B
Average 17.74x 2.47x 12.53x 3.39% 57.56B
Weighted average by Cap. 19.70x 2.66x 13.68x 3.6%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Nestlé Nigeria Plc

Historical PBR trend

Valuation ratios - PBR - Nestlé Nigeria Plc

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Nestlé Nigeria Plc

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Nestlé Nigeria Plc


Year-on-year evolution of the Yield

Valuation ratios - Yield - Nestlé Nigeria Plc
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