Financials Danone

Equities

BN

FR0000120644

Food Processing

Real-time Euronext Paris 07:51:19 2024-07-16 am EDT 5-day change 1st Jan Change
58.1 EUR -0.45% Intraday chart for Danone +0.48% -0.99%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 47,912 34,911 35,530 30,830 37,646 37,564 - -
Enterprise Value (EV) 1 60,731 46,852 46,030 40,937 47,867 46,692 45,944 45,316
P/E ratio 25.1 x 18 x 18.6 x 33.3 x 45.1 x 17.1 x 16 x 15.2 x
Yield 2.84% 3.61% 3.55% 4.06% 3.58% 3.64% 3.84% 4.09%
Capitalization / Revenue 1.89 x 1.48 x 1.46 x 1.11 x 1.36 x 1.37 x 1.32 x 1.28 x
EV / Revenue 2.4 x 1.98 x 1.9 x 1.48 x 1.73 x 1.7 x 1.62 x 1.55 x
EV / EBITDA 11.6 x 9.82 x 10 x 7.81 x 9.4 x 10 x 9.46 x 8.8 x
EV / FCF 24.2 x 22.8 x 18.9 x 19.6 x 18.2 x 20.3 x 19.3 x 17.4 x
FCF Yield 4.13% 4.38% 5.28% 5.11% 5.5% 4.92% 5.18% 5.75%
Price to Book 2.78 x 2.16 x 2.02 x 1.76 x 2.33 x 2.09 x 1.99 x 1.91 x
Nbr of stocks (in thousands) 648,339 649,380 650,849 626,246 641,543 643,653 - -
Reference price 2 73.90 53.76 54.59 49.23 58.68 58.36 58.36 58.36
Announcement Date 2/26/20 2/19/21 2/23/22 2/22/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 25,287 23,620 24,281 27,661 27,619 27,449 28,372 29,302
EBITDA 1 5,232 4,769 4,602 5,240 5,092 4,649 4,859 5,147
EBIT 1 3,846 3,317 3,337 3,377 3,481 3,542 3,763 3,964
Operating Margin 15.21% 14.04% 13.74% 12.21% 12.6% 12.91% 13.26% 13.53%
Earnings before Tax (EBT) 1 2,867 2,488 1,995 1,832 1,686 3,125 3,360 3,517
Net income 1 1,929 1,956 1,924 959 881 2,175 2,335 2,472
Net margin 7.63% 8.28% 7.92% 3.47% 3.19% 7.92% 8.23% 8.44%
EPS 2 2.950 2.990 2.940 1.480 1.300 3.416 3.641 3.851
Free Cash Flow 1 2,510 2,052 2,431 2,091 2,633 2,295 2,382 2,603
FCF margin 9.93% 8.69% 10.01% 7.56% 9.53% 8.36% 8.39% 8.88%
FCF Conversion (EBITDA) 47.97% 43.03% 52.82% 39.9% 51.71% 49.38% 49.01% 50.58%
FCF Conversion (Net income) 130.12% 104.91% 126.35% 218.04% 298.86% 105.53% 102% 105.3%
Dividend per Share 2 2.100 1.940 1.940 2.000 2.100 2.122 2.243 2.386
Announcement Date 2/26/20 2/19/21 2/23/22 2/22/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 12,639 12,189 11,431 11,835 6,158 6,242 12,446 6,236 7,067 13,325 7,334 7,007 14,336 6,962 7,235 14,167 6,906 6,655 13,452 6,789 6,983 13,755 7,015 6,643 13,698 - -
EBITDA 2,706 2,276 2,493 2,112 - - 2,490 - - 2,158 - - 2,424 - - 2,267 - - 2,825 - - 2,269 - - 2,431 - -
EBIT 1,988 1,702 1,615 1,551 - - 1,786 - - 1,612 - - 1,765 - - 1,734 - - 1,747 - - 1,746 - - 1,811 - -
Operating Margin 15.73% 13.96% 14.13% 13.11% - - 14.35% - - 12.1% - - 12.31% - - 12.24% - - 12.99% - - 12.69% - - 13.22% - -
Earnings before Tax (EBT) 1,506 1,410 - - - - - - - - - - - - - 1,525 - - 161 - - 1,587 - - 1,652 - -
Net income 894 1,015 - - - - - - - - - - - - - 1,093 - - -212 - - 1,107 - - 1,181 - -
Net margin 7.07% 8.33% - - - - - - - - - - - - - 7.72% - - -1.58% - - 8.05% - - 8.62% - -
EPS 1.370 1.550 - - - - - - - - - - - - - 1.700 - - -0.4000 - - 1.730 - - 1.840 1.890 1.920
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/26/20 7/30/20 2/19/21 7/29/21 10/19/21 2/23/22 2/23/22 4/20/22 7/27/22 7/27/22 10/27/22 2/22/23 2/22/23 4/26/23 7/26/23 7/26/23 10/26/23 2/22/24 2/22/24 4/18/24 - - - - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 12,819 11,941 10,500 10,107 10,221 9,129 8,380 7,753
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.45 x 2.504 x 2.282 x 1.929 x 2.007 x 1.964 x 1.725 x 1.506 x
Free Cash Flow 1 2,510 2,052 2,431 2,091 2,633 2,295 2,382 2,603
ROE (net income / shareholders' equity) 15% 11.7% 11.5% 12.5% 13.4% 13.2% 13.5% 14%
ROA (Net income/ Total Assets) 5.62% 4.44% 4.96% 4.86% 5.09% 4.93% 5.14% 5.47%
Assets 1 34,324 44,069 38,786 19,724 17,319 44,155 45,403 45,220
Book Value Per Share 2 26.60 24.90 27.10 28.00 25.20 27.90 29.40 30.60
Cash Flow per Share 2 5.310 4.560 5.370 4.640 5.360 5.370 5.580 6.330
Capex 1 951 962 1,043 873 847 1,182 1,226 1,245
Capex / Sales 3.76% 4.07% 4.3% 3.16% 3.07% 4.31% 4.32% 4.25%
Announcement Date 2/26/20 2/19/21 2/23/22 2/22/23 2/22/24 - - -
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
21
Last Close Price
58.36 EUR
Average target price
63.35 EUR
Spread / Average Target
+8.56%
Consensus