PARTNERS GROUP HOLDING AG Financials Partners Group Holding AG
Equities
PGHN
CH0024608827
Investment Management & Fund Operators
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,154 CHF | -1.79% |
|
-0.90% | -4.82% |
| Jun. 11 | Global markets live: GSK, Tesla, Intel, General Motors, Gamestop... |  |
| Jun. 11 | Partners Group Secures Over $15 Billion in Pledges as Fifth Direct Private Equity Program Closes | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 23,563 | 27,270 | 39,809 | 21,302 | 31,458 | 29,994 | - | - |
| Enterprise Value (EV) 1 | 23,483 | 26,898 | 39,747 | 20,792 | 31,458 | 30,741 | 30,602 | 30,436 |
| P/E ratio | 26.4 x | 34.3 x | 27.4 x | 20.9 x | 31.5 x | 25 x | 21.8 x | 19.2 x |
| Yield | 2.87% | 2.64% | 2.18% | 4.53% | - | 3.6% | 3.99% | 4.36% |
| Capitalization / Revenue | 14.6 x | 19.3 x | 15.1 x | 11.4 x | 16.2 x | 12.9 x | 11.1 x | 9.74 x |
| EV / Revenue | 14.6 x | 19 x | 15.1 x | 11.1 x | 16.2 x | 13.3 x | 11.4 x | 9.88 x |
| EV / EBITDA | 22.5 x | 29.4 x | 23.5 x | 17.7 x | 25.5 x | 20.6 x | 17.8 x | 15.5 x |
| EV / FCF | 27.7 x | 23.7 x | 59.5 x | 20.8 x | - | 25.6 x | 21.2 x | 18.6 x |
| FCF Yield | 3.61% | 4.22% | 1.68% | 4.8% | - | 3.9% | 4.72% | 5.36% |
| Price to Book | 10.2 x | 12 x | 13.8 x | 8.76 x | - | 11.6 x | 10.5 x | 9.35 x |
| Nbr of stocks (in thousands) | 26,552 | 26,221 | 26,320 | 26,079 | 25,934 | 25,980 | - | - |
| Reference price 2 | 887.4 | 1,040 | 1,512 | 816.8 | 1,213 | 1,154 | 1,154 | 1,154 |
| Announcement Date | 3/17/20 | 3/16/21 | 3/22/22 | 3/21/23 | 3/19/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,610 | 1,412 | 2,629 | 1,872 | 1,945 | 2,320 | 2,693 | 3,080 |
| EBITDA 1 | 1,041 | 913.8 | 1,690 | 1,172 | 1,234 | 1,491 | 1,724 | 1,959 |
| EBIT 1 | 1,008 | 875 | 1,650 | 1,132 | 1,193 | 1,421 | 1,664 | 1,903 |
| Operating Margin | 62.61% | 61.97% | 62.76% | 60.47% | 61.32% | 61.27% | 61.78% | 61.79% |
| Earnings before Tax (EBT) 1 | 1,037 | 928.6 | 1,726 | 1,129 | 1,209 | 1,457 | 1,701 | 1,962 |
| Net income 1 | 900 | 805 | 1,464 | 1,005 | 1,003 | 1,188 | 1,380 | 1,574 |
| Net margin | 55.9% | 57.01% | 55.69% | 53.68% | 51.59% | 51.2% | 51.26% | 51.1% |
| EPS 2 | 33.66 | 30.36 | 55.12 | 39.09 | 38.55 | 46.18 | 52.94 | 60.26 |
| Free Cash Flow 1 | 847.1 | 1,136 | 667.5 | 998.6 | - | 1,200 | 1,446 | 1,632 |
| FCF margin | 52.61% | 80.42% | 25.39% | 53.34% | - | 51.73% | 53.68% | 52.98% |
| FCF Conversion (EBITDA) | 81.34% | 124.26% | 39.49% | 85.19% | - | 80.49% | 83.85% | 83.31% |
| FCF Conversion (Net income) | 94.12% | 141.06% | 45.59% | 99.37% | - | 101.02% | 104.72% | 103.7% |
| Dividend per Share 2 | 25.50 | 27.50 | 33.00 | 37.00 | - | 41.55 | 46.08 | 50.38 |
| Announcement Date | 3/17/20 | 3/16/21 | 3/22/22 | 3/21/23 | 3/19/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 928 | 623 | 789 | 1,130 | 881 | 991 | 1,051 | 894 | 1,038 | 1,337 |
| EBITDA | - | - | - | 720.9 | 590.2 | 582 | - | - | - | - |
| EBIT | - | - | - | 701.8 | 570 | 562 | 644 | - | - | - |
| Operating Margin | - | - | - | 62.13% | 64.7% | 56.71% | 61.27% | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | 549.5 | 579.9 | 661 | - | - | - |
| Net income | - | - | - | 629.4 | 464.2 | 540.7 | 551 | 452.4 | - | - |
| Net margin | - | - | - | 55.72% | 52.69% | 54.56% | 52.43% | 50.6% | - | - |
| EPS | 18.86 | 11.65 | 18.71 | 23.50 | 17.53 | 21.56 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | 37.00 | - | - | - | - |
| Announcement Date | 3/17/20 | 9/8/20 | 3/16/21 | 9/7/21 | 8/30/22 | 3/21/23 | 9/5/23 | 3/19/24 | - | - |
1CHF in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | 747 | 608 | 441 |
| Net Cash position 1 | 79.2 | 372 | 61.7 | 510 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | 0.5009 x | 0.3527 x | 0.2253 x |
| Free Cash Flow 1 | 847 | 1,136 | 668 | 999 | - | 1,200 | 1,446 | 1,632 |
| ROE (net income / shareholders' equity) | 42% | 35.3% | 56.6% | 38% | - | 46.9% | 50.9% | 51.1% |
| ROA (Net income/ Total Assets) | 26.1% | 20.2% | 33% | 21.4% | - | 24.7% | 28.7% | 30.4% |
| Assets 1 | 3,450 | 3,992 | 4,434 | 4,704 | - | 4,816 | 4,811 | 5,181 |
| Book Value Per Share 2 | 86.60 | 86.30 | 110.0 | 93.30 | - | 99.90 | 110.0 | 124.0 |
| Cash Flow per Share 2 | 35.90 | 43.60 | 26.40 | 41.20 | - | 46.60 | 53.40 | 61.20 |
| Capex 1 | 114 | 18.9 | 34.3 | 60.5 | - | 40.8 | 45.4 | 33.4 |
| Capex / Sales | 7.06% | 1.34% | 1.3% | 3.23% | - | 1.76% | 1.69% | 1.09% |
| Announcement Date | 3/17/20 | 3/16/21 | 3/22/22 | 3/21/23 | 3/19/24 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
1,154
CHF
Average target price
1,285
CHF
Spread / Average Target
+11.26%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -4.82% | 33.65B | |
| +9.65% | 35.1B | |
| 0.00% | 18.37B | |
| +1.92% | 5.25B | |
| +3.77% | 4.13B | |
| +6.88% | 3.31B | |
| +22.05% | 2.84B | |
| -24.71% | 2.11B | |
| +3.52% | 1.23B | |
| +3.82% | 1.18B |
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- Financials Partners Group Holding AG
