Financials Guerbet

Equities

GBT

FR0000032526

Advanced Medical Equipment & Technology

Market Closed - Euronext Paris Other stock markets 11:35:21 2024-04-26 am EDT			5-day change	1st Jan Change
37.4 ^EUR	+4.32%		+10.65%	+91.79%

Apr. 26	Guerbet: quarterly sales up by nearly 8	CF
Apr. 25	Guerbet SA Provides Earnings Guidance for the Year 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	518.8	413.3	469.8	214.1	246.1	470.4	-	-
Enterprise Value (EV) ¹	815.3	669.9	687.6	484.5	581.9	778.3	745.3	690.3
P/E ratio	14 x	23.5 x	14.5 x	-5.22 x	-	16.2 x	11.9 x	10.1 x
Yield	1.69%	2.13%	2.28%	2.95%	2.56%	1.55%	1.78%	1.79%
Capitalization / Revenue	0.64 x	0.58 x	0.64 x	0.28 x	0.31 x	0.55 x	0.51 x	0.48 x
EV / Revenue	1 x	0.94 x	0.94 x	0.64 x	0.74 x	0.91 x	0.81 x	0.7 x
EV / EBITDA	7.31 x	6.65 x	6.54 x	4.7 x	5.89 x	6.23 x	5.28 x	4.43 x
EV / FCF	20.9 x	13.7 x	11.5 x	-13.1 x	-8.9 x	31.1 x	17.2 x	12.6 x
FCF Yield	4.78%	7.28%	8.67%	-7.66%	-11.2%	3.21%	5.82%	7.95%
Price to Book	1.33 x	1.14 x	1.16 x	0.56 x	-	1.17 x	1.09 x	1 x
Nbr of stocks (in thousands)	12,561	12,582	12,596	12,625	12,622	12,578	-	-
Reference price ²	41.30	32.85	37.30	16.96	19.50	37.40	37.40	37.40
Announcement Date	3/24/20	3/24/21	3/23/22	3/22/23	3/20/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	816.9	712.3	732.1	753.3	785.7	854.5	917.9	990.2
EBITDA ¹	111.5	100.7	105.1	103.1	98.8	124.9	141	155.7
EBIT ¹	51.7	41.3	38.7	-18.2	38.7	58.26	71.06	79.87
Operating Margin	6.33%	5.8%	5.29%	-2.42%	4.93%	6.82%	7.74%	8.07%
Earnings before Tax (EBT) ¹	-	-	28.97	-28.4	-	39.6	56.5	-
Net income ¹	37.3	17.7	32.6	-41.1	22.2	28.86	39.98	46.6
Net margin	4.57%	2.48%	4.45%	-5.46%	2.83%	3.38%	4.36%	4.71%
EPS ²	2.950	1.400	2.580	-3.250	-	2.302	3.154	3.717
Free Cash Flow ¹	39	48.8	59.61	-37.1	-65.4	25	43.35	54.85
FCF margin	4.77%	6.85%	8.14%	-4.92%	-8.32%	2.93%	4.72%	5.54%
FCF Conversion (EBITDA)	34.98%	48.46%	56.72%	-	-	20.02%	30.74%	35.22%
FCF Conversion (Net income)	104.56%	275.71%	182.87%	-	-	86.63%	108.44%	117.7%
Dividend per Share ²	0.7000	0.7000	0.8500	0.5000	0.5000	0.5800	0.6650	0.6700
Announcement Date	3/24/20	3/24/21	3/23/22	3/22/23	3/20/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2024 Q1
Net sales ¹	363.7	363.1	177.9	191.1	181.1	190	371.1	187	184.1	179.8	198.8	378.6	195.2	194.3
EBITDA	-	-	-	-	-	-	50.5	-	-	-	-	45.9	-	-
EBIT	25.4	34.8	-	-	-	-	16.9	-	-	-	-	10.3	-	-
Operating Margin	6.98%	9.58%	-	-	-	-	4.55%	-	-	-	-	2.72%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/23/20	-	10/21/21	3/23/22	4/21/22	9/21/22	9/21/22	10/20/22	3/22/23	4/20/23	9/20/23	9/20/23	10/19/23	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	297	257	218	270	336	308	275	220
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.659 x	2.548 x	2.072 x	2.623 x	3.399 x	2.466 x	1.949 x	1.412 x
Free Cash Flow ¹	39	48.8	59.6	-37.1	-65.4	25	43.4	54.9
ROE (net income / shareholders' equity)	9.87%	4.7%	8.43%	-10.5%	-	7.46%	9.15%	10%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	31.00	28.90	32.10	30.10	-	31.90	34.30	37.40
Cash Flow per Share ²	7.730	20.50	8.140	7.030	-	7.570	8.640	9.720
Capex ¹	48.5	59.7	56.4	67.9	-	59.1	59.7	52.9
Capex / Sales	5.94%	8.38%	7.7%	9.01%	-	6.92%	6.51%	5.34%
Announcement Date	3/24/20	3/24/21	3/23/22	3/22/23	3/20/24	-	-	-

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

Ratings for Guerbet

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

37.4 EUR

Average target price

39.3 EUR

Spread / Average Target

+5.08%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Medical Imaging Systems

	1st Jan change	Capi.
GUERBET	+91.79%	502M
SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.	-5.77%	14.68B
IRAY TECHNOLOGY COMPANY LIMITED	-40.71%	2.71B
SONOSCAPE MEDICAL CORP.	-12.92%	2.44B
BEIJING WANDONG MEDICAL TECHNOLOGY CO.,LTD.	-8.78%	1.51B
CORETAG, INC.	-.--%	1.12B
NANO-X IMAGING LTD.	+40.66%	518M
VIEWORKS CO., LTD.	+1.67%	183M
INTROMEDIC CO., LTD.	-.--%	168M
DRTECH CORPORATION	-29.34%	161M

Medical Imaging Systems