Financials Sanofi

Equities

SAN

FR0000120578

Pharmaceuticals

Market Closed - Euronext Paris Other stock markets 16:55:00 09/07/2025 BST			5-day change	1st Jan Change
83.32 ^EUR	-0.01%		+0.30%	-11.12%

07-08	SANOFI : UBS maintains a Buy rating	ZD
07-03	SANOFI : Goldman Sachs reiterates its Neutral rating	ZD

Projected Income Statement: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	36,041	37,761	42,997	43,070	41,081	45,463	48,850	51,452
Change	-	4.77%	13.87%	0.17%	-4.62%	10.67%	7.45%	5.33%
EBITDA ¹	11,443	12,183	14,627	14,259	12,889	13,893	14,899	15,667
Change	-	6.47%	20.06%	-2.52%	-9.61%	7.79%	7.24%	5.15%
EBIT ¹	9,762	10,714	13,040	12,670	11,343	12,725	13,604	14,388
Change	-	9.75%	21.71%	-2.84%	-10.47%	12.19%	6.9%	5.77%
Interest Paid ¹	-337	-328	-234	-722	-554	-263.9	-166	-119.9
Earnings before Tax (EBT) ¹	13,804	7,798	8,268	7,038	6,997	8,696	9,560	10,623
Change	-	-43.51%	6.03%	-14.88%	-0.58%	24.28%	9.94%	11.11%
Net income ¹	12,314	6,223	6,720	5,400	5,744	9,075	9,019	9,851
Change	-	-49.46%	7.99%	-19.64%	6.37%	57.99%	-0.61%	9.22%
Announcement Date	05/02/21	04/02/22	03/02/23	01/02/24	30/01/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	8,973	8,207	9,479	9,382	8,591	8,744	10,432	9,994	9,674	10,116	12,482	10,725	10,222	9,965	11,964	10,919	10,464	10,745	13,438	10,564	9,895	10,076	12,925	11,624	10,632
Change	-	-8.54%	15.5%	-1.02%	-8.43%	1.78%	19.3%	-4.2%	-3.2%	4.57%	23.39%	-14.08%	-4.69%	-2.51%	20.06%	-8.73%	-4.17%	2.69%	25.06%	-21.39%	-6.33%	1.83%	28.28%	-10.07%	-8.53%
EBITDA ¹	3,116	2,572	3,431	2,446	3,027	2,651	3,952	2,623	3,426	3,163	4,931	3,107	3,703	3,087	4,460	3,009	3,192	3,210	5,057	2,428	3,251	2,730	4,712	2,592	-
Change	-	-17.46%	33.4%	-28.71%	23.75%	-12.42%	49.08%	-33.63%	30.61%	-7.68%	55.9%	-36.99%	19.18%	-16.64%	44.48%	-32.53%	6.08%	0.56%	57.54%	-51.99%	33.9%	-16.04%	72.61%	-44.98%	-
EBIT ¹	2,659	2,146	3,027	2,052	2,638	2,265	3,558	2,256	3,065	2,753	4,498	2,724	3,333	2,726	4,028	2,583	2,843	2,813	4,607	2,078	2,902	2,603	4,545	2,514	2,545
Change	-	-19.29%	41.05%	-32.21%	28.56%	-14.14%	57.09%	-36.59%	35.86%	-10.18%	63.39%	-39.44%	22.36%	-18.21%	47.76%	-35.87%	10.07%	-1.06%	63.78%	-54.89%	39.65%	-10.31%	74.64%	-44.7%	1.23%
Charge d'intérêts ¹	-75	-92	-76	-94	-85	-76	-85	-83	-78	-77	-51	-28	-7	-77	-175	-463	-102	-203	-132	-124	-127	-63.5	-63.5	-59	-
Earnings before Tax (EBT) ¹	1,971	7,971	2,448	1,415	1,973	1,479	2,957	1,391	2,349	1,383	2,666	1,921	2,468	1,718	2,971	-249	1,310	1,416	3,581	1,070	2,158	2,487	4,362	2,116	-
Change	-	304.41%	-69.29%	-42.2%	39.43%	-25.04%	99.93%	-52.96%	68.87%	-41.12%	92.77%	-27.94%	28.47%	-30.39%	72.93%	-108.38%	626.1%	8.09%	152.9%	-70.12%	101.68%	15.25%	75.39%	-51.49%	-
Net income ¹	1,683	7,598	1,952	1,081	1,566	1,210	2,317	1,131	2,009	1,175	2,076	1,460	1,995	1,435	2,525	-555	1,133	1,113	2,815	683	1,872	5,931	3,075	1,322	-
Change	-	351.46%	-74.31%	-44.62%	44.87%	-22.73%	91.49%	-51.19%	77.63%	-41.51%	76.68%	-29.67%	36.64%	-28.07%	75.96%	-121.98%	304.14%	-1.77%	152.92%	-75.74%	174.08%	216.82%	-48.15%	-57.02%	-
Announcement Date	24/04/20	29/07/20	29/10/20	05/02/21	28/04/21	29/07/21	28/10/21	04/02/22	28/04/22	28/07/22	28/10/22	03/02/23	27/04/23	28/07/23	27/10/23	01/02/24	25/04/24	25/07/24	25/10/24	30/01/25	24/04/25	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	8,789	9,983	6,437	7,793	8,772	8,355	3,690	-363
Change	-	13.59%	-35.52%	21.07%	12.56%	-4.75%	-55.83%	-109.84%
Announcement Date	05/02/21	04/02/22	03/02/23	01/02/24	30/01/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,329	2,043	2,201	3,024	1,808	2,020	2,298	2,410
Change	-	53.72%	7.73%	37.39%	-40.21%	11.7%	13.79%	4.88%
Free Cash Flow (FCF) ¹	6,982	8,096	8,483	8,478	5,955	6,027	8,926	9,117
Change	-	15.96%	4.78%	-0.06%	-29.76%	1.21%	48.11%	2.14%
Announcement Date	05/02/21	04/02/22	03/02/23	01/02/24	30/01/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	31.75%	32.26%	34.02%	33.11%	31.37%	30.56%	30.5%	30.45%
EBIT Margin (%)	27.09%	28.37%	30.33%	29.42%	27.61%	27.99%	27.85%	27.96%
EBT Margin (%)	38.3%	20.65%	19.23%	16.34%	17.03%	19.13%	19.57%	20.65%
Net margin (%)	34.17%	16.48%	15.63%	12.54%	13.98%	19.96%	18.46%	19.15%
FCF margin (%)	19.37%	21.44%	19.73%	19.68%	14.5%	13.26%	18.27%	17.72%
FCF / Net Income (%)	56.7%	130.1%	126.24%	157%	103.67%	66.41%	98.97%	92.55%
Profitability
ROA	6.47%	5.3%	8.37%	4.27%	4.43%	6.52%	7%	7.29%
ROE	12.05%	12.46%	14.42%	13.65%	11.75%	12.8%	13.6%	13.98%
Financial Health
Leverage (Debt/EBITDA)	0.77x	0.82x	0.44x	0.55x	0.68x	0.6x	0.25x	-
Debt / Free cash flow	1.26x	1.23x	0.76x	0.92x	1.47x	1.39x	0.41x	-
Capital Intensity
CAPEX / Current Assets (%)	3.69%	5.41%	5.12%	7.02%	4.4%	4.44%	4.7%	4.68%
CAPEX / EBITDA (%)	11.61%	16.77%	15.05%	21.21%	14.03%	14.54%	15.42%	15.38%
CAPEX / FCF (%)	19.03%	25.23%	25.95%	35.67%	30.36%	33.51%	25.75%	26.44%
Items per share
Cash flow per share ¹	5.942	8.365	8.408	8.195	7.857	8.679	9.414	10.81
Change	-	40.77%	0.52%	-2.53%	-4.13%	10.46%	8.47%	14.82%
Dividend per Share ¹	3.2	3.33	3.56	3.76	3.92	4.143	4.364	4.599
Change	-	4.06%	6.91%	5.62%	4.26%	5.7%	5.33%	5.39%
Book Value Per Share ¹	50.26	54.84	59.74	59.15	62.08	64.38	67.26	70.86
Change	-	9.11%	8.94%	-0.98%	4.96%	3.7%	4.47%	5.36%
EPS ¹	9.82	4.97	5.37	4.31	4.59	7.141	7.24	8.152
Change	-	-49.39%	8.05%	-19.74%	6.5%	55.57%	1.39%	12.59%
Nbr of stocks (in thousands)	1,256,375	1,255,293	1,254,060	1,253,891	1,247,793	1,218,225	1,218,225	1,218,225
Announcement Date	05/02/21	04/02/22	03/02/23	01/02/24	30/01/25	-	-	-