Stock HERDEZ * GRUPO HERDEZ, S.A.B. DE C.V.
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Financials Grupo Herdez, S.A.B. de C.V.

Equities

HERDEZ *

MX01HE010008

Food Processing

End-of-day quote Mexican S.E.
Other stock markets
 06:00:00 2024-04-28 pm EDT 		5-day change 1st Jan Change
48.28 MXN +1.71% Intraday chart for Grupo Herdez, S.A.B. de C.V. +6.11% +4.73%
Apr. 18 Grupo Herdez, S.A.B. De C.V. Announces Board Changes CI
Apr. 18 Transcript : Grupo Herdez, S.A.B. de C.V., Q1 2024 Earnings Call, Apr 18, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 15,250 19,557 14,322 14,644 15,250 15,932 - -
Enterprise Value (EV) 1 20,960 16,667 23,452 23,511 23,930 22,176 20,184 18,051
P/E ratio 15.1 x 24.1 x 20 x 19.2 x 11.6 x 11.6 x 12.2 x 13 x
Yield 2.93% 2.3% 2.96% 2.75% 3.25% 2.38% 2.04% 2.45%
Capitalization / Revenue 0.68 x 0.81 x 0.55 x 0.46 x 0.42 x 0.43 x 0.41 x 0.39 x
EV / Revenue 0.93 x 0.69 x 0.9 x 0.74 x 0.66 x 0.6 x 0.52 x 0.44 x
EV / EBITDA 5.49 x 3.97 x 5.95 x 4.76 x 3.85 x 3.53 x 3.15 x 2.82 x
EV / FCF 10.7 x - 38.8 x - 5.89 x 10.1 x 7.57 x 6.4 x
FCF Yield 9.37% - 2.58% - 17% 9.92% 13.2% 15.6%
Price to Book 1.93 x 2.66 x 2.06 x - 2.15 x 1.95 x 1.86 x -
Nbr of stocks (in thousands) 405,904 374,508 353,816 335,488 330,802 330,000 - -
Reference price 2 37.57 52.22 40.48 43.65 46.10 48.98 48.98 48.98
Announcement Date 2/27/20 2/25/21 2/3/22 2/22/23 2/27/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 22,420 24,036 26,153 31,646 36,213 37,007 39,188 40,936
EBITDA 1 3,818 4,197 3,944 4,943 6,214 6,282 6,410 6,410
EBIT 1 2,990 3,255 3,007 3,831 5,022 5,030 5,088 5,356
Operating Margin 13.34% 13.54% 11.5% 12.11% 13.87% 13.59% 12.98% 13.08%
Earnings before Tax (EBT) 1 3,154 3,342 3,106 3,530 5,065 4,936 4,887 -
Net income 1 1,014 828 725.7 776.6 1,320 1,445 1,233 1,338
Net margin 4.52% 3.44% 2.77% 2.45% 3.65% 3.9% 3.15% 3.27%
EPS 2 2.480 2.170 2.020 2.278 3.981 4.240 4.025 3.770
Free Cash Flow 1 1,964 - 605 - 4,063 2,201 2,665 2,821
FCF margin 8.76% - 2.31% - 11.22% 5.95% 6.8% 6.89%
FCF Conversion (EBITDA) 51.44% - 15.34% - 65.38% 35.03% 41.58% 44.01%
FCF Conversion (Net income) 193.58% - 83.37% - 307.79% 152.32% 216.14% 210.84%
Dividend per Share 2 1.100 1.200 1.200 1.200 1.500 1.165 1.000 1.200
Announcement Date 2/27/20 2/25/21 2/3/22 2/22/23 2/27/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 6,767 7,518 7,108 7,667 7,961 8,910 8,632 8,753 9,019 - 8,886 - - - -
EBITDA 886 1,420 1,076 1,047 1,170 1,649 1,316 1,337 - - - - - - -
EBIT 655 - 835 778.2 854 1,364 1,046 1,060 - - - - - - -
Operating Margin 9.68% - 11.75% 10.15% 10.73% 15.31% 12.11% 12.11% - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - 315.5 300 - - - - - - -
Net margin - - - - - - 3.66% 3.43% - - - - - - -
EPS 1 0.4100 0.7700 0.4600 0.3709 0.4039 1.043 0.9417 0.8940 1.011 1.135 - 1.000 1.060 1.100 1.050
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 10/21/21 2/3/22 4/21/22 7/21/22 10/19/22 2/22/23 4/19/23 7/19/23 10/18/23 2/27/24 4/17/24 - - - -
1MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,710 - 9,129 8,867 8,680 6,244 4,252 2,119
Net Cash position 1 - 2,890 - - - - - -
Leverage (Debt/EBITDA) 1.496 x - 2.315 x 1.794 x 1.397 x 0.9939 x 0.6633 x 0.3306 x
Free Cash Flow 1 1,964 - 605 - 4,063 2,201 2,665 2,821
ROE (net income / shareholders' equity) 12.4% 10.9% 10.3% 11.4% 19% 18.9% 16.2% -
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 19.50 19.60 19.70 - 21.50 25.10 26.30 -
Cash Flow per Share 2 6.630 7.420 - - 15.10 5.800 6.500 -
Capex 1 754 - - 1,583 956 1,220 1,242 1,266
Capex / Sales 3.36% - - 5% 2.64% 3.3% 3.17% 3.09%
Announcement Date 2/27/20 2/25/21 2/3/22 2/22/23 2/27/24 - - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Grupo Herdez, S.A.B. de C.V.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
48.98 MXN
Average target price
61.5 MXN
Spread / Average Target
+25.56%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

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