Financials Kering

Equities

KER

FR0000121485

Apparel & Accessories Retailers

Market Closed - Euronext Paris 11:38:25 2024-05-22 am EDT 5-day change 1st Jan Change
330.2 EUR -0.95% Intraday chart for Kering -2.57% -17.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 73,160 74,262 87,474 58,122 48,537 40,470 - -
Enterprise Value (EV) 1 75,973 80,337 92,144 60,428 57,041 52,380 51,248 50,379
P/E ratio 31.8 x 34.6 x 27.7 x 16.2 x 16.4 x 19.2 x 15.9 x 13.4 x
Yield 1.97% 1.35% 1.7% 2.94% 3.51% 3.29% 3.74% 4.01%
Capitalization / Revenue 4.61 x 5.67 x 4.96 x 2.86 x 2.48 x 2.15 x 2.01 x 1.87 x
EV / Revenue 4.78 x 6.13 x 5.22 x 2.97 x 2.92 x 2.78 x 2.55 x 2.33 x
EV / EBITDA 12.6 x 17.6 x 14.2 x 8.33 x 8.68 x 10.3 x 8.81 x 7.81 x
EV / FCF 50 x 38.2 x 23.4 x 18.8 x 28.8 x 17 x 15.6 x 14.7 x
FCF Yield 2% 2.62% 4.28% 5.31% 3.48% 5.88% 6.42% 6.82%
Price to Book 7.19 x 6.28 x 6.57 x 4.15 x 3.22 x 2.6 x 2.43 x 2.26 x
Nbr of stocks (in thousands) 125,018 124,937 123,744 122,233 121,646 122,580 - -
Reference price 2 585.2 594.4 706.9 475.5 399.0 330.2 330.2 330.2
Announcement Date 2/12/20 2/17/21 2/17/22 2/15/23 2/8/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 15,884 13,100 17,645 20,351 19,566 18,860 20,120 21,607
EBITDA 1 6,024 4,574 6,470 7,255 6,569 5,096 5,817 6,447
EBIT 1 4,778 3,135 5,017 5,589 4,746 3,509 4,082 4,708
Operating Margin 30.08% 23.93% 28.43% 27.46% 24.26% 18.6% 20.29% 21.79%
Earnings before Tax (EBT) 1 4,300 2,956 4,524 5,135 4,233 3,001 3,592 4,245
Net income 1 2,309 2,150 3,176 3,614 2,983 2,107 2,517 2,965
Net margin 14.53% 16.42% 18% 17.76% 15.25% 11.17% 12.51% 13.72%
EPS 2 18.40 17.20 25.49 29.31 24.37 17.21 20.76 24.65
Free Cash Flow 1 1,521 2,102 3,942 3,208 1,983 3,081 3,291 3,434
FCF margin 9.57% 16.04% 22.34% 15.76% 10.13% 16.33% 16.35% 15.89%
FCF Conversion (EBITDA) 25.25% 45.95% 60.92% 44.22% 30.19% 60.45% 56.57% 53.26%
FCF Conversion (Net income) 65.87% 97.74% 124.11% 88.77% 66.48% 146.22% 130.71% 115.82%
Dividend per Share 2 11.50 8.000 12.00 14.00 14.00 10.86 12.34 13.24
Announcement Date 2/12/20 2/17/21 2/17/22 2/15/23 2/8/24 - - -
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 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2
Net sales 1 8,245 5,378 7,722 8,047 4,188 5,410 9,598 4,956 4,974 9,930 5,137 5,284 10,421 5,058 10,135 4,464 4,294 9,431 4,504 4,664 9,130 4,701 5,282 9,756
EBITDA - - - 2,951 - - 3,520 - - - - - 3,638 - - - - 2,952 - - 2,367 - - 2,690
EBIT 2,526 952.4 2,183 2,237 - - 2,780 - - 2,820 - - 2,769 - 2,739 - - 2,007 - - 1,607 - - 1,895
Operating Margin 30.63% 17.71% 28.27% 27.8% - - 28.97% - - 28.4% - - 26.57% - 27.03% - - 21.28% - - 17.6% - - 19.42%
Earnings before Tax (EBT) 2,224 487.9 2,469 2,094 - - 2,430 - - 2,788 - - 2,347 - 2,535 - - 1,698 - - 1,359 - - 1,575
Net income 1,729 272.6 1,878 1,479 - - 1,697 - - 1,988 - - 1,626 - 1,785 - - 1,198 - - 960 - - 1,121
Net margin 20.97% 5.07% 24.32% 18.38% - - 17.68% - - 20.02% - - 15.6% - 17.61% - - 12.7% - - 10.51% - - 11.49%
EPS 13.79 2.180 15.02 11.85 - - - - - 16.08 - - - - - - - - - - 7.000 - - 8.880
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/12/20 7/28/20 2/17/21 7/27/21 10/19/21 2/17/22 2/17/22 4/21/22 7/27/22 7/27/22 10/20/22 2/15/23 2/15/23 7/27/23 7/27/23 10/24/23 2/8/24 2/8/24 4/23/24 - - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,812 6,075 4,670 2,306 8,504 11,910 10,779 9,909
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.4669 x 1.328 x 0.7217 x 0.3178 x 1.295 x 2.337 x 1.853 x 1.537 x
Free Cash Flow 1 1,521 2,102 3,942 3,208 1,983 3,081 3,291 3,434
ROE (net income / shareholders' equity) 31.8% 17.9% 25.2% 25.3% 19.4% 13.8% 15.4% 16.7%
ROA (Net income/ Total Assets) 13.2% 7.15% 10.8% 11.1% 7.92% 5.46% 6.26% 6.92%
Assets 1 17,438 30,067 29,536 32,504 37,654 38,552 40,235 42,811
Book Value Per Share 2 81.40 94.60 108.0 115.0 124.0 127.0 136.0 146.0
Cash Flow per Share 2 19.70 23.10 39.10 34.70 36.40 31.50 33.00 36.70
Capex 1 956 787 934 1,071 2,611 1,693 1,284 1,376
Capex / Sales 6.02% 6.01% 5.29% 5.26% 13.34% 8.98% 6.38% 6.37%
Announcement Date 2/12/20 2/17/21 2/17/22 2/15/23 2/8/24 - - -
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
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
24
Last Close Price
330.2 EUR
Average target price
373.9 EUR
Spread / Average Target
+13.24%
Consensus