Company Valuation: Gedeon Richter

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,619,625 1,542,290 1,627,029 1,893,161 1,799,226 2,239,723 - -
Change - -4.77% 5.49% 16.36% -4.96% 24.48% - -
Enterprise Value (EV) 1 1,559,769 1,395,557 1,546,536 1,782,343 1,588,618 1,925,133 1,818,333 1,699,718
Change - -10.53% 10.82% 15.25% -10.87% 21.18% -5.55% -6.52%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 8.58x 7.87x 7.19x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.48x 1.34x 1.22x
PEG - 0.9x 3.41x 0.2x -2.82x 0.7x 0.88x 0.76x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.35x 2.19x 2.04x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 2.02x 1.78x 1.55x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.3x 4.66x 4.01x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.42x 5.57x 4.83x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 9.06x 7.86x 6.76x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11% 12.7% 14.8%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.05% 5.41% 5.97%
EPS 2 751 835 860 1,307 1,271 1,432 1,561 1,709
Distribution rate 30% 46.7% - - - 43.3% 42.6% 42.9%
Net sales 1 630,595 802,755 805,158 857,545 928,962 951,724 1,023,546 1,098,192
EBITDA 1 176,123 196,480 240,625 310,678 353,314 363,366 389,794 424,113
EBIT 1 135,832 153,555 189,817 261,157 292,851 299,996 326,732 351,898
Net income 1 139,626 155,581 158,850 239,244 232,335 259,474 286,154 313,070
Net Debt 1 -59,856 -146,733 -80,493 -110,818 -210,608 -314,590 -421,390 -540,005
Reference price 2 8,725.00 8,300.00 8,750.00 10,400.00 9,865.00 12,280.00 12,280.00 12,280.00
Nbr of stocks (in thousands) 185,630 185,818 185,946 182,035 182,385 182,388 - -
Announcement Date 3/2/22 2/28/23 2/29/24 4/7/25 2/27/26 - - -
1HUF in Million2HUF
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
39.45x7.49x25.55x0.79% 48.11B
19.42x2.2x10.38x1.25% 37.88B
28.35x3.51x17.98x0.85% 12.47B
25.17x4.36x16.23x0.71% 12B
19.59x3.38x12.29x3.48% 9.03B
16.35x2.1x7.08x3.2% 7.09B
34.47x3.93x16.72x0.23% 6.72B
40.23x7.7x28.57x0.98% 4.42B
Average 27.88x 4.33x 16.85x 1.44% 17.22B
Weighted average by Cap. 28.98x 4.69x 17.72x 1.19%

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