Real-time Estimate
Tradegate
12:16:17 30/05/2024 BST
|
5-day change
|
1st Jan Change
|
76.92
EUR
|
-0.41%
|
|
-4.95%
|
-13.62%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
25,184
|
28,568
|
30,443
|
11,113
|
15,040
|
12,763
|
-
|
-
|
Enterprise Value (EV)
1 |
28,403
|
31,434
|
36,896
|
18,174
|
21,766
|
18,828
|
18,440
|
18,347
|
P/E ratio
|
26.1
x
|
22.9
x
|
18.4
x
|
11.1
x
|
-47.4
x
|
39
x
|
15.5
x
|
13.1
x
|
Yield
|
1.63%
|
1.56%
|
1.6%
|
4.23%
|
3.28%
|
3.95%
|
4.06%
|
4.32%
|
Capitalization / Revenue
|
1.74
x
|
1.97
x
|
1.95
x
|
0.66
x
|
0.95
x
|
0.83
x
|
0.8
x
|
0.76
x
|
EV / Revenue
|
1.97
x
|
2.16
x
|
2.36
x
|
1.07
x
|
1.38
x
|
1.22
x
|
1.16
x
|
1.1
x
|
EV / EBITDA
|
11.3
x
|
11.6
x
|
13.4
x
|
10.1
x
|
19.1
x
|
11.5
x
|
9.55
x
|
8.48
x
|
EV / FCF
|
26.3
x
|
18.8
x
|
256
x
|
-9.13
x
|
25.5
x
|
27.3
x
|
18.2
x
|
19.1
x
|
FCF Yield
|
3.81%
|
5.33%
|
0.39%
|
-10.9%
|
3.92%
|
3.66%
|
5.49%
|
5.23%
|
Price to Book
|
2.73
x
|
2.51
x
|
2.56
x
|
1.16
x
|
-
|
1.36
x
|
1.32
x
|
1.28
x
|
Nbr of stocks (in thousands)
|
152,012
|
160,223
|
163,033
|
147,942
|
153,311
|
153,879
|
-
|
-
|
Reference price
2 |
165.7
|
178.3
|
186.7
|
75.12
|
98.10
|
82.94
|
82.94
|
82.94
|
Announcement Date
|
29/01/20
|
28/01/21
|
01/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
14,442
|
14,535
|
15,617
|
16,947
|
15,781
|
15,467
|
15,962
|
16,684
|
EBITDA
1 |
2,504
|
2,704
|
2,754
|
1,794
|
1,138
|
1,639
|
1,931
|
2,165
|
EBIT
1 |
1,944
|
2,126
|
2,177
|
1,222
|
908.2
|
1,355
|
1,618
|
1,775
|
Operating Margin
|
13.46%
|
14.62%
|
13.94%
|
7.21%
|
5.75%
|
8.76%
|
10.14%
|
10.64%
|
Earnings before Tax (EBT)
1 |
1,130
|
1,267
|
1,641
|
37.9
|
-375.7
|
347.5
|
923.1
|
1,166
|
Net income
1 |
955.8
|
1,210
|
1,689
|
1,062
|
-310.5
|
321.5
|
798.7
|
949.1
|
Net margin
|
6.62%
|
8.33%
|
10.82%
|
6.27%
|
-1.97%
|
2.08%
|
5%
|
5.69%
|
EPS
2 |
6.350
|
7.770
|
10.16
|
6.760
|
-2.070
|
2.125
|
5.360
|
6.349
|
Free Cash Flow
1 |
1,081
|
1,674
|
144
|
-1,990
|
852.6
|
689.9
|
1,012
|
959
|
FCF margin
|
7.49%
|
11.52%
|
0.92%
|
-11.74%
|
5.4%
|
4.46%
|
6.34%
|
5.75%
|
FCF Conversion (EBITDA)
|
43.17%
|
61.92%
|
5.23%
|
-
|
74.91%
|
42.1%
|
52.39%
|
44.3%
|
FCF Conversion (Net income)
|
113.1%
|
138.3%
|
8.52%
|
-
|
-
|
214.58%
|
126.68%
|
101.04%
|
Dividend per Share
2 |
2.700
|
2.780
|
2.980
|
3.180
|
3.220
|
3.276
|
3.363
|
3.580
|
Announcement Date
|
29/01/20
|
28/01/21
|
01/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
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
|
---|
Net sales
1 |
4,068
|
4,448
|
4,393
|
4,120
|
3,987
|
3,932
|
4,159
|
3,954
|
3,736
|
3,870
|
4,008
|
3,838
|
3,680
|
3,908
|
4,081
|
EBITDA
1 |
512.6
|
656.5
|
547.3
|
395.1
|
195.1
|
265.7
|
336
|
479
|
350.3
|
342.6
|
421.1
|
444.8
|
431.1
|
523
|
541
|
EBIT
1 |
366.1
|
512.8
|
403.9
|
257.1
|
48
|
104.5
|
171.6
|
327.9
|
304.2
|
291.2
|
347.7
|
361.4
|
359.7
|
366.6
|
425.2
|
Operating Margin
|
9%
|
11.53%
|
9.19%
|
6.24%
|
1.2%
|
2.66%
|
4.13%
|
8.29%
|
8.14%
|
7.53%
|
8.68%
|
9.42%
|
9.77%
|
9.38%
|
10.42%
|
Earnings before Tax (EBT)
1 |
160.9
|
178.5
|
15.9
|
-4.3
|
-152.2
|
-164.1
|
-75.8
|
-57
|
-78.8
|
48.3
|
91.5
|
108.5
|
108
|
210.7
|
264.4
|
Net income
1 |
328.2
|
175.3
|
87.6
|
844.6
|
-45
|
-187.8
|
177
|
4.7
|
-304.4
|
19.5
|
62.5
|
74
|
174.5
|
164.4
|
199.7
|
Net margin
|
8.07%
|
3.94%
|
1.99%
|
20.5%
|
-1.13%
|
-4.78%
|
4.26%
|
0.12%
|
-8.15%
|
0.5%
|
1.56%
|
1.93%
|
4.74%
|
4.21%
|
4.89%
|
EPS
2 |
1.990
|
1.060
|
0.5700
|
5.500
|
-0.3500
|
-1.260
|
1.180
|
0.0300
|
-2.030
|
0.1300
|
0.4150
|
0.4900
|
1.150
|
1.123
|
1.408
|
Dividend per Share
2 |
0.7900
|
0.7900
|
0.7900
|
0.8000
|
0.8000
|
0.8000
|
0.8000
|
0.8100
|
0.8100
|
0.8100
|
0.8096
|
0.8396
|
0.8396
|
0.8396
|
0.8396
|
Announcement Date
|
01/02/22
|
28/04/22
|
28/07/22
|
27/10/22
|
02/02/23
|
04/05/23
|
01/08/23
|
27/10/23
|
01/02/24
|
02/05/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
3,219
|
2,866
|
6,452
|
7,060
|
6,726
|
6,065
|
5,677
|
5,585
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
1.286
x
|
1.06
x
|
2.343
x
|
3.935
x
|
5.91
x
|
3.701
x
|
2.94
x
|
2.58
x
|
Free Cash Flow
1 |
1,081
|
1,674
|
144
|
-1,990
|
853
|
690
|
1,012
|
959
|
ROE (net income / shareholders' equity)
|
11.3%
|
12%
|
15.3%
|
-
|
2.33%
|
6.96%
|
9.55%
|
11.9%
|
ROA (Net income/ Total Assets)
|
4.78%
|
5.48%
|
6.68%
|
-
|
0.9%
|
2.48%
|
3.67%
|
4.1%
|
Assets
1 |
20,002
|
22,081
|
25,288
|
-
|
-34,519
|
12,988
|
21,776
|
23,131
|
Book Value Per Share
2 |
60.70
|
71.00
|
73.00
|
65.00
|
-
|
60.90
|
63.00
|
64.90
|
Cash Flow per Share
2 |
10.00
|
13.00
|
4.020
|
-8.820
|
7.960
|
7.340
|
9.400
|
10.10
|
Capex
1 |
425
|
348
|
519
|
530
|
339
|
438
|
485
|
513
|
Capex / Sales
|
2.94%
|
2.39%
|
3.32%
|
3.13%
|
2.15%
|
2.83%
|
3.04%
|
3.07%
|
Announcement Date
|
29/01/20
|
28/01/21
|
01/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Last Close Price
82.94
USD Average target price
93.58
USD Spread / Average Target +12.83% Consensus |