Financials Nestlé S.A.

Equities

NESN

CH0038863350

Food Processing

Market Closed - Swiss Exchange 11:30:38 2024-04-18 am EDT 5-day change 1st Jan Change
93.24 CHF -0.13% Intraday chart for Nestlé S.A. -0.62% -4.38%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 302,550 290,369 350,518 295,663 260,170 244,411 - -
Enterprise Value (EV) 1 329,451 321,707 383,097 343,288 309,560 296,529 295,627 294,343
P/E ratio 24.4 x 24.3 x 21 x 31.3 x 23.1 x 19.9 x 18.3 x 17.2 x
Yield 2.58% 2.64% 2.2% 2.75% 3.08% 3.41% 3.61% 3.83%
Capitalization / Revenue 3.27 x 3.44 x 4.02 x 3.13 x 2.8 x 2.59 x 2.48 x 2.4 x
EV / Revenue 3.56 x 3.81 x 4.4 x 3.64 x 3.33 x 3.15 x 3 x 2.89 x
EV / EBITDA 16.5 x 17.5 x 20.6 x 17.5 x 15.9 x 14.8 x 13.9 x 13.2 x
EV / FCF 28.3 x 32.1 x 44.9 x 52.3 x 29.8 x 24.2 x 23.9 x 23.3 x
FCF Yield 3.53% 3.11% 2.22% 1.91% 3.36% 4.13% 4.18% 4.29%
Price to Book 5.8 x 6.43 x 6.62 x 7.04 x 7.42 x 6.75 x 6.32 x 5.9 x
Nbr of stocks (in thousands) 2,887,479 2,785,049 2,750,456 2,759,592 2,668,141 2,621,306 - -
Reference price 2 104.8 104.3 127.4 107.1 97.51 93.24 93.24 93.24
Announcement Date 2/13/20 2/18/21 2/17/22 2/16/23 2/22/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 92,568 84,343 87,088 94,424 92,998 94,280 98,456 101,903
EBITDA 1 19,973 18,368 18,559 19,644 19,511 20,060 21,267 22,250
EBIT 1 16,260 14,903 15,119 16,103 16,053 16,523 17,595 18,434
Operating Margin 17.57% 17.67% 17.36% 17.05% 17.26% 17.53% 17.87% 18.09%
Earnings before Tax (EBT) 1 15,062 13,922 10,806 11,286 12,703 14,466 15,585 16,594
Net income 1 12,600 12,232 16,905 9,270 11,209 12,208 13,142 13,890
Net margin 13.61% 14.5% 19.41% 9.82% 12.05% 12.95% 13.35% 13.63%
EPS 2 4.300 4.290 6.060 3.420 4.230 4.675 5.094 5.419
Free Cash Flow 1 11,639 10,013 8,523 6,570 10,403 12,248 12,360 12,621
FCF margin 12.57% 11.87% 9.79% 6.96% 11.19% 12.99% 12.55% 12.38%
FCF Conversion (EBITDA) 58.27% 54.51% 45.92% 33.45% 53.32% 61.06% 58.12% 56.72%
FCF Conversion (Net income) 92.37% 81.86% 50.42% 70.87% 92.81% 100.34% 94.04% 90.86%
Dividend per Share 2 2.700 2.750 2.800 2.950 3.000 3.176 3.369 3.573
Announcement Date 2/13/20 2/18/21 2/17/22 2/16/23 2/22/24 - - -
1CHF in Million2CHF
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 47,112 41,152 43,191 41,755 21,539 23,794 45,333 22,238 23,342 45,580 23,552 25,292 48,844 23,470 22,823 46,293 22,536 24,169 46,705 22,329 22,685 46,102 23,102 24,949 48,169 48,342 49,834
EBITDA 10,336 8,864 9,504 8,922 - - 9,637 - - 9,439 - - 10,205 - - 9,626 - - 9,885 - - 9,541 - - 10,421 - -
EBIT 8,487 7,156 7,747 7,251 - - 7,868 - - 7,683 - - 8,420 - - 7,904 - - 8,149 - - 7,820 - - 8,563 8,607 8,948
Operating Margin 18.01% 17.39% 17.94% 17.37% - - 17.36% - - 16.86% - - 17.24% - - 17.07% - - 17.45% - - 16.96% - - 17.78% 17.8% 17.96%
Earnings before Tax (EBT) - - 6,536 6,450 - - - - - - - - - - - 6,565 - - 6,138 - - 6,766 - - 7,369 7,692 7,900
Net income - - 6,349 5,945 - - - - - - - - - - - 5,600 - - 5,560 - - 5,952 - - 6,259 6,714 6,848
Net margin - - 14.7% 14.24% - - - - - - - - - - - 12.1% - - 11.9% - - 12.91% - - 12.99% 13.89% 13.74%
EPS 2.620 2.060 2.230 2.120 - - - - - - - - - - - 2.130 - - 2.110 - - 2.250 - - 2.100 2.540 2.590
Dividend per Share 2.700 - - - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/13/20 7/30/20 2/18/21 7/29/21 10/20/21 2/17/22 2/17/22 4/21/22 7/28/22 7/28/22 10/19/22 2/16/23 2/16/23 4/25/23 7/27/23 7/27/23 10/19/23 2/22/24 2/22/24 - - - - - - - -
1CHF in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 26,901 31,338 32,579 47,625 49,390 52,119 51,217 49,933
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.347 x 1.706 x 1.755 x 2.424 x 2.531 x 2.598 x 2.408 x 2.244 x
Free Cash Flow 1 11,639 10,013 8,523 6,570 10,403 12,248 12,360 12,621
ROE (net income / shareholders' equity) 23.1% 25% 34.2% 19.5% 28.8% 35.9% 37% 36.3%
ROA (Net income/ Total Assets) 9.52% 9.71% 12.8% 6.76% 9.71% 9.82% 10.2% 10.4%
Assets 1 132,384 125,984 131,585 137,162 115,412 124,365 128,864 133,028
Book Value Per Share 2 18.10 16.20 19.30 15.20 13.10 13.80 14.70 15.80
Cash Flow per Share 2 5.400 5.050 4.970 4.400 6.020 6.060 6.570 6.710
Capex 1 4,211 4,364 5,341 5,095 5,714 5,305 5,157 5,394
Capex / Sales 4.55% 5.17% 6.13% 5.4% 6.14% 5.63% 5.24% 5.29%
Announcement Date 2/13/20 2/18/21 2/17/22 2/16/23 2/22/24 - - -
1CHF in Million2CHF
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
OUTPERFORM
Number of Analysts
23
Last Close Price
93.24 CHF
Average target price
108.9 CHF
Spread / Average Target
+16.79%
Consensus
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