Financials Carrefour

Equities

CA

FR0000120172

Food Retail & Distribution

Real-time Euronext Paris 09:55:13 2024-05-21 am EDT 5-day change 1st Jan Change
16.14 EUR -1.13% Intraday chart for Carrefour -3.90% -2.54%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,927 11,339 12,343 12,040 11,582 11,299 - -
Enterprise Value (EV) 1 14,542 18,644 19,538 20,911 19,681 20,434 20,060 20,102
P/E ratio 10.5 x 17.6 x 11.8 x 8.69 x 7.13 x 9.6 x 7.86 x 7.05 x
Yield 3.08% 3.42% 3.23% 3.58% 5.25% 5.41% 5.76% 6.36%
Capitalization / Revenue 0.15 x 0.16 x 0.17 x 0.15 x 0.14 x 0.13 x 0.13 x 0.12 x
EV / Revenue 0.18 x 0.26 x 0.27 x 0.26 x 0.24 x 0.24 x 0.22 x 0.22 x
EV / EBITDA 3.29 x 4.18 x 4.29 x 4.53 x 4.32 x 4.19 x 3.83 x 3.6 x
EV / FCF 9.55 x 8.39 x 9.73 x 8.95 x 12.1 x 18.3 x 12.1 x 11.4 x
FCF Yield 10.5% 11.9% 10.3% 11.2% 8.24% 5.46% 8.28% 8.8%
Price to Book 1.21 x 1.16 x 1.22 x 1.04 x 0.99 x 0.99 x 0.87 x 0.85 x
Nbr of stocks (in thousands) 797,808 808,166 766,438 769,845 699,183 691,947 - -
Reference price 2 14.95 14.03 16.10 15.64 16.56 16.33 16.33 16.33
Announcement Date 2/27/20 2/18/21 2/16/22 2/14/23 2/20/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 80,672 70,719 72,958 81,385 83,270 85,851 89,407 91,979
EBITDA 1 4,417 4,465 4,550 4,613 4,559 4,875 5,240 5,589
EBIT 1 2,088 2,173 2,272 2,377 2,264 2,526 2,804 3,032
Operating Margin 2.59% 3.07% 3.11% 2.92% 2.72% 2.94% 3.14% 3.3%
Earnings before Tax (EBT) 1 722 1,351 1,632 1,973 1,339 1,749 2,088 2,265
Net income 1 1,129 641 1,072 1,348 1,659 1,126 1,317 1,435
Net margin 1.4% 0.91% 1.47% 1.66% 1.99% 1.31% 1.47% 1.56%
EPS 2 1.426 0.7953 1.362 1.800 2.324 1.701 2.078 2.317
Free Cash Flow 1 1,522 2,223 2,008 2,337 1,622 1,115 1,661 1,768
FCF margin 1.89% 3.14% 2.75% 2.87% 1.95% 1.3% 1.86% 1.92%
FCF Conversion (EBITDA) 34.46% 49.79% 44.13% 50.66% 35.58% 22.88% 31.69% 31.64%
FCF Conversion (Net income) 134.81% 346.8% 187.31% 173.37% 97.77% 99.04% 126.16% 123.2%
Dividend per Share 2 0.4600 0.4800 0.5200 0.5600 0.8700 0.8834 0.9399 1.038
Announcement Date 2/27/20 2/18/21 2/16/22 2/14/23 2/20/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 S2 2022 Q2 2022 S1 2022 Q3 2022 S2 2023 S1 2023 S2 2024 Q1 2024 S1 2024 S2
Net sales 1 41,824 38,155 32,564 34,462 20,468 - 23,158 43,420 23,729 42,331 40,302 42,968 22,230 42,746 45,357
EBITDA 2,647 - - - - - 747.5 - - - - - - - -
EBIT 1,464 718 - 740 - 1,532 - - - 1,563 700 1,564 - 820 1,675
Operating Margin 3.5% 1.88% - 2.15% - - - - - 3.69% 1.74% 3.64% - 1.92% 3.69%
Earnings before Tax (EBT) - 308 - - - - - - - - - - - - -
Net income - -23 - - - - - - - - - - - - -
Net margin - -0.06% - - - - - - - - - - - - -
EPS - - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/27/20 7/28/20 2/18/21 7/28/21 10/20/21 2/16/22 7/27/22 7/27/22 10/26/22 2/14/23 7/26/23 2/20/24 4/24/24 - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,615 7,305 7,195 8,871 8,099 9,135 8,760 8,803
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.592 x 1.636 x 1.581 x 1.923 x 1.776 x 1.874 x 1.672 x 1.575 x
Free Cash Flow 1 1,522 2,223 2,008 2,337 1,622 1,115 1,661 1,768
ROE (net income / shareholders' equity) 9.01% 10.2% 11.4% 12.1% 11.5% 11.1% 12% 13.5%
ROA (Net income/ Total Assets) 2.3% 1.29% 2.25% 2.59% 2.94% 2.42% 2.5% 2.65%
Assets 1 49,090 49,526 47,630 52,109 56,365 46,474 52,726 54,225
Book Value Per Share 2 12.30 12.10 13.20 15.00 16.70 16.50 18.80 19.20
Cash Flow per Share 2 4.100 4.210 4.840 5.650 6.510 5.820 5.530 5.840
Capex 1 1,725 1,241 1,653 1,882 1,850 1,865 1,907 1,935
Capex / Sales 2.14% 1.75% 2.27% 2.31% 2.22% 2.17% 2.13% 2.1%
Announcement Date 2/27/20 2/18/21 2/16/22 2/14/23 2/20/24 - - -
1EUR in Million2EUR
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
16.33 EUR
Average target price
18.34 EUR
Spread / Average Target
+12.28%
Consensus

Quarterly revenue - Rate of surprise

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