Company Valuation: Roche Holding AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 306,810 239,812 197,073 205,191 262,098 282,483 - -
Change - -21.84% -17.82% 4.12% 27.73% 7.78% - -
Enterprise Value (EV) 1 324,977 255,396 215,772 222,528 278,258 293,350 286,503 278,486
Change - -21.41% -15.51% 3.13% 25.04% 5.42% -2.33% -2.8%
P/E 23.4x 18.9x 17.1x 24.8x 20.5x 19.2x 17.3x 16.1x
PBR 13.2x 8.29x 5.91x 5.67x 7.8x 7.03x 5.88x 4.97x
PEG - -3.69x -2.48x -0.9x 0.4x 1.3x 1.6x 2.05x
Capitalization / Revenue 4.89x 3.79x 3.36x 3.39x 4.26x 4.51x 4.32x 4.11x
EV / Revenue 5.17x 4.04x 3.67x 3.68x 4.52x 4.69x 4.38x 4.05x
EV / EBITDA 13.2x 10.2x 9.82x 9.45x 11.3x 11.6x 10.5x 9.6x
EV / EBIT 14.8x 11.5x 11.2x 10.7x 12.7x 12.9x 11.7x 10.7x
EV / FCF 20.7x 19.6x 19.1x 14.5x 23.6x 19.1x 17.5x 15.8x
FCF Yield 4.83% 5.11% 5.23% 6.89% 4.24% 5.23% 5.7% 6.34%
Dividend per Share 2 9.3 9.5 9.6 9.7 9.8 10.01 10.25 10.52
Rate of return 2.45% 3.27% 3.93% 3.8% 2.99% 2.83% 2.9% 2.97%
EPS 2 16.2 15.37 14.31 10.31 16.04 18.39 20.38 21.99
Distribution rate 57.4% 61.8% 67.1% 94.1% 61.1% 54.4% 50.3% 47.8%
Net sales 1 62,801 63,281 58,716 60,495 61,516 62,613 65,430 68,719
EBITDA 1 24,692 25,015 21,976 23,538 24,608 25,278 27,230 29,015
EBIT 1 21,897 22,173 19,240 20,823 21,833 22,803 24,388 25,991
Net income 1 13,930 12,421 11,498 8,277 12,880 14,496 16,317 17,553
Net Debt 1 18,167 15,584 18,699 17,337 16,160 10,867 4,020 -3,998
Reference price 2 379.10 290.50 244.50 255.50 328.20 353.60 353.60 353.60
Nbr of stocks (in thousands) 800,952 800,579 798,652 796,789 796,317 796,766 - -
Announcement Date 03/02/22 02/02/23 01/02/24 30/01/25 29/01/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
32.72x11.9x24.26x0.6% 1,024B
30.62x - - 1.95% 663B
32.73x7.6x15.8x2.67% 453B
19.89x4.73x11.71x2.8% 352B
22.72x5.84x14.51x2.7% 304B
20.87x4.29x12.24x2.06% 252B
27.66x7.14x13.15x2.31% 236B
13.33x4.82x10.06x3.78% 206B
-46.14x6.65x25.95x2.18% 187B
Average 17.16x 6.62x 15.96x 2.34% 408.71B
Weighted average by Cap. 24.05x 7.99x 17.80x 1.95%

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

  1. Stock Market
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  5. Valuation Roche Holding AG
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