Financials Roche Holding AG

Equities

ROG

CH0012032048

Pharmaceuticals

Real-time Estimate Cboe Europe 11:30:33 22/07/2024 BST 5-day change 1st Jan Change
279.8 CHF +0.52% Intraday chart for Roche Holding AG +8.04% +14.31%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 267,779 264,244 306,810 259,166 197,073 224,572 - -
Enterprise Value (EV) 1 270,284 266,126 324,977 274,750 215,772 239,569 234,590 227,851
P/E ratio 20.1 x 18.7 x 23.4 x 18.9 x 17.1 x 16.3 x 14.8 x 13.8 x
Yield 2.87% 2.94% 2.45% 3.27% 3.93% 3.51% 3.61% 3.7%
Capitalization / Revenue 4.36 x 4.53 x 4.89 x 4.1 x 3.36 x 3.71 x 3.52 x 3.38 x
EV / Revenue 4.4 x 4.56 x 5.17 x 4.34 x 3.67 x 3.96 x 3.68 x 3.43 x
EV / EBITDA 10.6 x 11 x 13.2 x 11 x 9.82 x 10.5 x 9.61 x 8.88 x
EV / FCF 16.1 x 24.3 x 20.7 x 21.1 x 19.1 x 17.8 x 16.2 x 14.8 x
FCF Yield 6.2% 4.11% 4.83% 4.75% 5.23% 5.63% 6.16% 6.76%
Price to Book 8.28 x 7.27 x 13.2 x 8.29 x 5.91 x 6.33 x 5.3 x 4.49 x
Nbr of stocks (in thousands) 856,061 854,642 800,952 854,579 798,652 797,242 - -
Reference price 2 314.0 309.0 379.1 290.5 244.5 278.3 278.3 278.3
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 61,466 58,323 62,801 63,281 58,716 60,471 63,793 66,448
EBITDA 1 25,419 24,281 24,692 25,015 21,976 22,765 24,404 25,654
EBIT 1 22,479 21,536 21,897 22,173 19,240 20,095 21,698 22,846
Operating Margin 36.57% 36.93% 34.87% 35.04% 32.77% 33.23% 34.01% 34.38%
Earnings before Tax (EBT) 1 16,614 17,965 17,398 16,327 14,079 17,726 19,152 20,562
Net income 1 13,497 14,295 13,930 12,421 11,498 13,431 14,773 15,853
Net margin 21.96% 24.51% 22.18% 19.63% 19.58% 22.21% 23.16% 23.86%
EPS 2 15.62 16.52 16.20 15.37 14.31 17.11 18.77 20.18
Free Cash Flow 1 16,764 10,943 15,691 13,041 11,288 13,497 14,461 15,407
FCF margin 27.27% 18.76% 24.99% 20.61% 19.22% 22.32% 22.67% 23.19%
FCF Conversion (EBITDA) 65.95% 45.07% 63.55% 52.13% 51.37% 59.29% 59.26% 60.06%
FCF Conversion (Net income) 124.21% 76.55% 112.64% 104.99% 98.17% 100.49% 97.88% 97.19%
Dividend per Share 2 9.000 9.100 9.300 9.500 9.600 9.776 10.04 10.30
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 S1 2025 S2
Net sales 1 30,997 29,281 29,042 30,713 15,971 16,117 32,088 16,445 15,850 32,295 14,742 16,244 30,986 15,322 14,457 29,779 14,274 28,937 14,399 13,153 29,689 14,770 15,205 30,904 15,035 30,225 30,835
EBITDA - - - - - - - - - - - - - - - - - - - - - - - - - - -
EBIT 10,116 11,766 9,770 11,652 - - 10,245 - - 12,668 - - 9,505 - - 10,911 - 8,329 - - 10,409 - - 9,634 - - -
Operating Margin 32.64% 40.18% 33.64% 37.94% - - 31.93% - - 39.23% - - 30.68% - - 36.64% - 28.78% - - 35.06% - - 31.18% - - -
Earnings before Tax (EBT) 6,260 10,181 7,784 9,887 - - 7,511 - - 10,985 - - 5,342 - - 9,174 - 4,905 - - 8,930 - - 9,368 - - -
Net income 4,878 8,079 6,216 7,803 - - 6,127 - - 8,530 - - 3,891 - - 7,137 - 4,361 - - 7,294 - - 7,071 - - -
Net margin 15.74% 27.59% 21.4% 25.41% - - 19.09% - - 26.41% - - 12.56% - - 23.97% - 15.07% - - 24.57% - - 22.88% - - -
EPS 5.630 9.320 7.200 9.050 - - 7.150 - - 10.54 - - 4.830 - - 8.870 - 5.440 - - 8.905 - - 8.820 - - -
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 30/01/20 23/07/20 04/02/21 22/07/21 20/10/21 03/02/22 03/02/22 25/04/22 21/07/22 21/07/22 18/10/22 02/02/23 02/02/23 27/04/23 27/07/23 27/07/23 01/11/23 01/02/24 - - - - - - - - -
1CHF in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,505 1,882 18,167 15,584 18,699 14,997 10,019 3,279
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.0985 x 0.0775 x 0.7357 x 0.623 x 0.8509 x 0.6588 x 0.4105 x 0.1278 x
Free Cash Flow 1 16,764 10,943 15,691 13,041 11,288 13,497 14,461 15,407
ROE (net income / shareholders' equity) 57.7% 48% 56% 62.5% 45.7% 43.6% 40.2% 36.1%
ROA (Net income/ Total Assets) 21.6% 19.6% 19.1% 18.2% 16.7% 14.6% 14.9% 14.7%
Assets 1 62,621 72,966 72,951 68,337 68,793 92,120 98,862 108,101
Book Value Per Share 2 37.90 42.50 28.80 35.00 41.40 44.00 52.50 62.00
Cash Flow per Share 2 25.90 21.50 24.40 22.80 20.00 20.00 21.40 23.60
Capex 1 3,503 3,528 3,693 3,449 3,742 3,743 3,923 4,062
Capex / Sales 5.7% 6.05% 5.88% 5.45% 6.37% 6.19% 6.15% 6.11%
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1CHF in Million2CHF
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
A+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
20
Last Close Price
278.3 CHF
Average target price
274 CHF
Spread / Average Target
-1.55%
Consensus
  1. Stock Market
  2. Equities
  3. ROG Stock
  4. Financials Roche Holding AG