Company Valuation: Next plc

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Capitalization 1 9,584 8,204 10,242 11,658 15,414 14,844 - -
Change - -14.4% 24.85% 13.82% 32.22% -3.7% - -
Enterprise Value (EV) 1 11,241 10,015 11,101 13,332 17,127 16,546 16,533 16,488
Change - -10.91% 10.84% 20.1% 28.46% -3.39% -0.08% -0.27%
P/E ratio 14.3x 11.6x 12.9x 16.4x 17.8x 16.2x 15.1x 13.8x
PBR 9.86x 7x 7.24x 7.14x - 7.95x 7.08x 6.06x
PEG - 1.31x 0.9x -2.13x 0.8x 2.43x 2.09x 1.43x
Capitalization / Revenue 1.97x 1.52x 1.88x 1.84x 2.2x 2.07x 1.96x 1.86x
EV / Revenue 2.31x 1.85x 2.03x 2.11x 2.45x 2.3x 2.18x 2.07x
EV / EBITDA 10.1x 9.04x 8.99x 9.52x 10.6x 10.3x 9.73x 9.31x
EV / EBIT 12.4x 10.6x 11.2x 12.4x 13.4x 12.7x 12x 11.3x
EV / FCF 14.3x 16.9x 11.3x 13.3x 16.1x 19.9x 18.7x 16.8x
FCF Yield 7% 5.93% 8.86% 7.54% 6.2% 5.02% 5.35% 5.96%
Dividend per Share 2 3.97 2.06 2.06 2.33 - 2.85 3.375 3.661
Rate of return 5.29% 3.11% 2.43% 2.34% - 2.22% 2.62% 2.85%
EPS 2 5.24 5.705 6.559 6.055 7.454 7.95 8.526 9.346
Distribution rate 75.8% 36.1% 31.4% 38.5% - 35.9% 39.6% 39.2%
Net sales 1 4,862 5,414 5,459 6,321 7,004 7,181 7,570 7,966
EBITDA 1 1,113 1,108 1,235 1,400 1,619 1,608 1,699 1,771
EBIT 1 905.4 941.5 987.9 1,075 1,279 1,301 1,376 1,453
Net income 1 677.5 711.7 802.3 736.1 888.5 917.7 977 1,042
Net Debt 1 1,658 1,811 858.5 1,675 1,713 1,702 1,689 1,644
Reference price 2 74.98 66.18 84.68 99.52 132.65 128.65 128.65 128.65
Nbr of stocks (in thousands) 127,818 123,961 120,955 117,141 116,198 115,383 - -
Announcement Date 24/03/22 29/03/23 21/03/24 27/03/25 26/03/26 - - -
1GBP in Million2GBP
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.18x2.3x10.29x2.22% 20.26B
22.83x3.37x11.97x3.83% 183B
47.17x5.63x23.9x0.78% 147B
29.05x2.69x18.32x0.84% 69.12B
38.11x2.61x10.13x1.54% 34.46B
19.98x1.42x7.84x4.49% 28.6B
19.59x3.55x14.1x1.2% 26.94B
25.72x1.51x12.89x-.--% 18.36B
14.76x1.66x7.4x4.21% 10.64B
8.85x0.42x3.94x3.13% 7.94B
Average 24.22x 2.52x 12.08x 2.22% 54.62B
Weighted average by Cap. 30.30x 3.57x 15.51x 2.2%

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