Projected Income Statement: Associated British Foods plc

Forecast Balance Sheet: Associated British Foods plc

Fiscal Period: September 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 2,081 1,380 1,764 2,265 2,021 2,453 2,287 2,217
Change - -33.69% 27.83% 28.4% -10.77% 21.38% -6.77% -3.06%
Announcement Date 11/3/20 11/9/21 11/8/22 11/7/23 11/5/24 - - -
1GBP in Million
Estimates

Cash Flow Forecast: Associated British Foods plc

Fiscal Period: September 2020 2021 2022 2023 2024 2025 2026 2027
CAPEX 1 561 551 680 997 1,124 1,130 1,141 1,180
Change - -1.78% 23.41% 46.62% 12.74% 0.52% 1.03% 3.39%
Free Cash Flow (FCF) 1 1,192 862 473 657 1,750 817.6 838.2 920.1
Change - -27.68% -45.13% 38.9% 166.36% -53.28% 2.51% 9.77%
Announcement Date 11/3/20 11/9/21 11/8/22 11/7/23 11/5/24 - - -
1GBP in Million
Estimates

Forecast Financial Ratios: Associated British Foods plc

Fiscal Period: September 2020 2021 2022 2023 2024 2025 2026 2027

Profitability

        
EBITDA Margin (%) 13.5% 13.38% 13.3% 11.95% 14.5% 13.48% 13.87% 14.04%
EBIT Margin (%) 7.35% 7.28% 8.44% 7.66% 9.95% 9.15% 9.54% 9.62%
EBT Margin (%) 4.92% 5.22% 6.33% 6.78% 9.55% 8.76% 9.29% 9.68%
Net margin (%) 3.26% 3.44% 4.12% 5.29% 7.25% 6.56% 6.97% 7.18%
FCF margin (%) 8.55% 6.21% 2.78% 3.33% 8.72% 4.07% 4% 4.24%
FCF / Net Income (%) 261.98% 180.33% 67.57% 62.93% 120.27% 62.01% 57.44% 59.04%

Profitability

        
ROA 4.21% 2.85% 3.82% 5.41% 7.69% 6.98% 7.51% 7.48%
ROE 6.75% 4.96% 6.55% 9.26% 13.06% 11.78% 12.17% 11.9%

Financial Health

        
Leverage (Debt/EBITDA) 1.11x 0.74x 0.78x 0.96x 0.69x 0.91x 0.79x 0.73x
Debt / Free cash flow 1.75x 1.6x 3.73x 3.45x 1.15x 3x 2.73x 2.41x

Capital Intensity

        
CAPEX / Current Assets (%) 4.03% 3.97% 4% 5.05% 5.6% 5.63% 5.45% 5.44%
CAPEX / EBITDA (%) 29.82% 29.66% 30.08% 42.23% 38.63% 41.73% 39.3% 38.73%
CAPEX / FCF (%) 47.06% 63.92% 143.76% 151.75% 64.23% 138.19% 136.19% 128.28%

Items per share

        
Cash flow per share 1 2.219 1.789 1.462 2.126 3.827 2.88 3.131 3.424
Change - -19.4% -18.26% 45.42% 80% -24.73% 8.69% 9.36%
Dividend per Share 1 - 0.267 0.437 0.6 0.63 0.6672 0.7236 0.7651
Change - - 63.67% 37.3% 5% 5.91% 8.45% 5.73%
Book Value Per Share 1 11.95 12.56 14.52 14.26 14.89 15.72 17.04 18.17
Change - 5.11% 15.59% -1.77% 4.45% 5.51% 8.46% 6.59%
EPS 1 0.576 0.605 0.886 1.342 1.937 1.803 2.035 2.209
Change - 5.03% 46.45% 51.47% 44.34% -6.9% 12.85% 8.56%
Nbr of stocks (in thousands) 788,892 790,004 790,327 764,973 739,294 723,787 723,787 723,787
Announcement Date 11/3/20 11/9/21 11/8/22 11/7/23 11/5/24 - - -
1GBP
Estimates
2025 *2026 *
P/E ratio 10.5x 9.29x
PBR 1.2x 1.11x
EV / Sales 0.8x 0.76x
Yield 3.53% 3.83%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
AA
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
19
Last Close Price
18.90GBP
Average target price
22.56GBP
Spread / Average Target
+19.32%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. ABF Stock
  4. Financials Associated British Foods plc