Company Valuation: Cochlear Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,546 13,070 15,043 21,754 19,647 8,062 - -
Change - -21.01% 15.1% 44.62% -9.69% -58.97% - -
Enterprise Value (EV) 1 15,981 12,440 14,689 21,240 19,371 7,859 7,799 7,735
Change - -22.16% 18.08% 44.6% -8.8% -59.43% -0.76% -0.82%
P/E 50.7x 45.2x 50.1x 61x 50.7x 34x 24.7x 21.7x
PBR 9.72x 7.75x 8.63x 11.9x 10.1x 4.21x 4.02x 3.79x
PEG - -3.9x 12.65x 3.2x 5.72x -0.9x 0.7x 1.5x
Capitalization / Revenue 11.1x 7.93x 7.69x 9.63x 8.38x 3.47x 3.34x 3.14x
EV / Revenue 10.7x 7.55x 7.51x 9.41x 8.27x 3.38x 3.23x 3.02x
EV / EBITDA 39x 27.3x 30.8x 36x 31.7x 16.1x 14.1x 12.7x
EV / EBIT 48.4x 32.5x 37.1x 42.1x 37.2x 20.1x 17.3x 15.4x
EV / FCF 69.5x 37.5x 47x 65.1x 143x 33.1x 24.1x 21.5x
FCF Yield 1.44% 2.67% 2.13% 1.54% 0.7% 3.02% 4.15% 4.65%
Dividend per Share 2 2.55 3 3.3 4.1 4.3 3.408 3.694 4.053
Rate of return 1.01% 1.51% 1.44% 1.23% 1.43% 2.76% 3% 3.29%
EPS 2 4.967 4.396 4.57 5.445 5.928 3.621 4.981 5.692
Distribution rate 51.3% 68.2% 72.2% 75.3% 72.5% 94.1% 74.2% 71.2%
Net sales 1 1,493 1,648 1,956 2,258 2,343 2,322 2,415 2,565
EBITDA 1 409.7 455.7 477 589.7 611.7 489.3 553.6 608.6
EBIT 1 330.2 382.7 396.1 504.8 521.3 390.8 452 502.6
Net income 1 326.5 289.1 300.6 356.8 388.9 234 322.2 375
Net Debt 1 -564.6 -629.3 -353.7 -513.6 -275.7 -202.9 -262.9 -326.9
Reference price 2 251.67 198.70 229.07 332.15 300.42 123.27 123.27 123.27
Nbr of stocks (in thousands) 65,744 65,775 65,668 65,494 65,397 65,399 - -
Announcement Date 8/19/21 8/18/22 8/14/23 8/14/24 8/14/25 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.05x3.38x16.06x2.76% 5.64B
32.89x5.72x18.57x1.06% 19.75B
20.64x3.41x12.43x2.27% 15.23B
20.22x2.58x10.05x1.85% 4.25B
18.7x2.09x10.28x-.--% 1.73B
53.58x3.3x26.28x0.85% 1.66B
21.99x4.44x13.33x0.9% 1.25B
-22.62x - - - 444M
Average 22.43x 3.56x 15.29x 1.39% 6.24B
Weighted average by Cap. 27.64x 4.23x 15.50x 1.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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