Financials Pernod Ricard

Equities

RI

FR0000120693

Distillers & Wineries

Real-time Euronext Paris 13:23:02 17/07/2024 BST 5-day change 1st Jan Change
125 EUR +1.75% Intraday chart for Pernod Ricard -2.27% -21.72%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,805 36,807 48,827 45,501 51,841 31,301 - -
Enterprise Value (EV) 1 49,425 45,231 56,279 54,158 62,114 41,860 41,642 41,495
P/E ratio 29.6 x 112 x 37.5 x 22.8 x 23 x 15.2 x 15 x 13.9 x
Yield 1.93% 1.9% 1.67% 2.35% 2.32% 3.47% 3.53% 3.68%
Capitalization / Revenue 4.66 x 4.36 x 5.53 x 4.25 x 4.27 x 2.68 x 2.62 x 2.5 x
EV / Revenue 5.38 x 5.35 x 6.38 x 5.06 x 5.12 x 3.59 x 3.49 x 3.31 x
EV / EBITDA 17.6 x 17.3 x 20.2 x 15.9 x 16.5 x 11.8 x 11.4 x 10.6 x
EV / FCF 36.2 x 54.5 x 34.6 x 29.9 x 43.4 x 30.1 x 26 x 24.4 x
FCF Yield 2.76% 1.84% 2.89% 3.35% 2.3% 3.33% 3.85% 4.1%
Price to Book 2.69 x 2.66 x 3.31 x 2.84 x 3.29 x 1.97 x 1.85 x 1.76 x
Nbr of stocks (in thousands) 264,148 262,811 260,829 259,563 256,132 250,009 - -
Reference price 2 162.0 140.0 187.2 175.3 202.4 125.2 125.2 125.2
Announcement Date 29/08/19 02/09/20 01/09/21 01/09/22 31/08/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,182 8,448 8,824 10,701 12,137 11,658 11,945 12,536
EBITDA 1 2,807 2,610 2,790 3,405 3,765 3,547 3,663 3,905
EBIT 1 2,581 2,260 2,423 3,024 3,348 3,122 3,211 3,420
Operating Margin 28.11% 26.75% 27.46% 28.26% 27.59% 26.78% 26.88% 27.28%
Earnings before Tax (EBT) 1 3,098 608 1,986 2,704 2,933 2,801 2,864 3,081
Net income 1 1,455 329 1,305 1,996 2,262 2,108 2,143 2,332
Net margin 15.85% 3.89% 14.79% 18.65% 18.64% 18.08% 17.94% 18.6%
EPS 2 5.482 1.246 4.990 7.685 8.806 8.253 8.336 8.994
Free Cash Flow 1 1,366 830 1,628 1,813 1,431 1,392 1,603 1,700
FCF margin 14.88% 9.82% 18.45% 16.94% 11.79% 11.94% 13.42% 13.56%
FCF Conversion (EBITDA) 48.66% 31.8% 58.35% 53.25% 38.01% 39.26% 43.77% 43.54%
FCF Conversion (Net income) 93.88% 252.28% 124.75% 90.83% 63.26% 66.06% 74.81% 72.92%
Dividend per Share 2 3.120 2.660 3.120 4.120 4.700 4.348 4.416 4.604
Announcement Date 29/08/19 02/09/20 01/09/21 01/09/22 31/08/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 5,474 2,974 4,985 3,839 2,718 3,242 5,959 2,447 2,295 4,742 3,308 3,808 7,116 2,630 5,021 3,042 3,548 6,590 2,347 2,647 5,007 6,938 5,290
EBITDA - - - - - - 2,187 - - - - - - - - - - 2,361 - - - - -
EBIT 1,788 472 1,595 828 - - 1,998 - - 1,026 - - 2,423 - 925 - - 2,144 - - 958.5 - -
Operating Margin 32.66% 15.87% 32% 21.57% - - 33.53% - - 21.64% - - 34.05% - 18.42% - - 32.53% - - 19.14% - -
Earnings before Tax (EBT) 1,471 - 1,280 706 - - 1,862 - - 843 - - 2,370 - 563 - - 2,074 - - 733 1,760 1,352
Net income 1,032 - 966 339 - - 1,390 - - 606 - - 1,792 - 470 - - 1,569 - - 537 1,295 995
Net margin 18.85% - 19.38% 8.83% - - 23.33% - - 12.78% - - 25.18% - 9.36% - - 23.81% - - 10.73% 18.67% 18.81%
EPS 3.894 - 3.694 1.296 - - 5.326 - - 2.359 - - 6.963 - 1.843 - - 6.192 - - 2.130 - -
Dividend per Share 1.180 2.660 1.330 3.120 - - 1.330 - - 2.560 - - 1.560 - 2.640 - - 2.640 - - 2.063 2.550 2.170
Announcement Date 13/02/20 02/09/20 11/02/21 01/09/21 21/10/21 09/02/22 09/02/22 28/04/22 01/09/22 01/09/22 20/10/22 16/02/23 16/02/23 31/08/23 31/08/23 19/10/23 15/02/24 15/02/24 25/04/24 - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,620 8,424 7,452 8,657 10,273 10,558 10,341 10,194
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.358 x 3.228 x 2.671 x 2.542 x 2.729 x 2.977 x 2.823 x 2.611 x
Free Cash Flow 1 1,366 830 1,628 1,813 1,431 1,392 1,603 1,700
ROE (net income / shareholders' equity) 9.45% 9.61% 11.2% 13% 14.8% 12.8% 12.5% 12.7%
ROA (Net income/ Total Assets) 4.8% 4.6% 5.06% 5.86% 6.35% 5.42% 5.47% 5.77%
Assets 1 30,300 7,153 25,773 34,079 35,616 38,879 39,141 40,387
Book Value Per Share 2 60.20 52.60 56.60 61.80 61.50 63.40 67.50 71.20
Cash Flow per Share 2 6.420 4.470 7.640 8.830 7.910 8.720 10.20 10.60
Capex 1 338 352 370 481 610 789 787 783
Capex / Sales 3.68% 4.17% 4.19% 4.49% 5.03% 6.77% 6.58% 6.24%
Announcement Date 29/08/19 02/09/20 01/09/21 01/09/22 31/08/23 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
125.2 EUR
Average target price
155.8 EUR
Spread / Average Target
+24.40%
Consensus
  1. Stock Market
  2. Equities
  3. RI Stock
  4. Financials Pernod Ricard