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PERNOD RICARD |
Market Closed -
Other stock markets
|
|
5-day change | 1st Jan Change | |
| 158.15 EUR | -0.25% | -3.54% | -13.93% | |
| Nov. 30 | Cooler inflation readings support equities | AN |
| Nov. 30 | PERNOD RICARD : Oddo BHF confirms its rating on the stock | CF |
Valuation
| Fiscal Period : June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 42 805 | 36 807 | 48 827 | 45 501 | 51 841 | 40 054 | - | - |
| Enterprise Value (EV) 1 | 49 425 | 45 231 | 56 279 | 54 158 | 62 114 | 50 411 | 50 388 | 50 181 |
| P/E ratio | 29,6x | 112x | 37,5x | 22,8x | 23,0x | 17,4x | 15,9x | 14,7x |
| Yield | 1,93% | 1,90% | 1,67% | 2,35% | 2,32% | 2,99% | 3,19% | 3,44% |
| Capitalization / Revenue | 4,66x | 4,36x | 5,53x | 4,25x | 4,27x | 3,23x | 3,05x | 2,90x |
| EV / Revenue | 5,38x | 5,35x | 6,38x | 5,06x | 5,12x | 4,06x | 3,84x | 3,64x |
| EV / EBITDA | 17,6x | 17,3x | 20,2x | 15,9x | 16,5x | 13,0x | 12,2x | 11,4x |
| EV / FCF | 36,2x | 54,5x | 34,6x | 29,9x | 43,4x | 30,1x | 27,6x | 24,5x |
| FCF Yield | 2,76% | 1,84% | 2,89% | 3,35% | 2,30% | 3,32% | 3,62% | 4,08% |
| Price to Book | 2,69x | 2,66x | 3,31x | 2,84x | 3,29x | 2,48x | 2,36x | 2,24x |
| Nbr of stocks (in thousands) | 264 148 | 262 811 | 260 829 | 259 563 | 256 132 | 253 268 | - | - |
| Reference price 2 | 162 | 140 | 187 | 175 | 202 | 158 | 158 | 158 |
| Announcement Date | 08/29/19 | 09/02/20 | 09/01/21 | 09/01/22 | 08/31/23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period : Juni | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9 182 | 8 448 | 8 824 | 10 701 | 12 137 | 12 407 | 13 137 | 13 796 |
| EBITDA 1 | 2 807 | 2 610 | 2 790 | 3 405 | 3 765 | 3 863 | 4 140 | 4 410 |
| EBIT 1 | 2 581 | 2 260 | 2 423 | 3 024 | 3 348 | 3 404 | 3 683 | 3 919 |
| Operating Margin | 28,1% | 26,8% | 27,5% | 28,3% | 27,6% | 27,4% | 28,0% | 28,4% |
| Earnings before Tax (EBT) 1 | 3 098 | 608 | 1 986 | 2 704 | 2 933 | 3 066 | 3 313 | 3 571 |
| Net income 1 | 1 455 | 329 | 1 305 | 1 996 | 2 262 | 2 312 | 2 502 | 2 696 |
| Net margin | 15,8% | 3,89% | 14,8% | 18,7% | 18,6% | 18,6% | 19,0% | 19,5% |
| EPS 2 | 5,48 | 1,25 | 4,99 | 7,69 | 8,81 | 9,08 | 9,95 | 10,8 |
| Free Cash Flow 1 | 1 366 | 830 | 1 628 | 1 813 | 1 431 | 1 673 | 1 825 | 2 046 |
| FCF margin | 14,9% | 9,82% | 18,4% | 16,9% | 11,8% | 13,5% | 13,9% | 14,8% |
| FCF Conversion (EBITDA) | 48,7% | 31,8% | 58,4% | 53,2% | 38,0% | 43,3% | 44,1% | 46,4% |
| FCF Conversion (Net income) | 93,9% | 252% | 125% | 90,8% | 63,3% | 72,4% | 72,9% | 75,9% |
| Dividend per Share 2 | 3,12 | 2,66 | 3,12 | 4,12 | 4,70 | 4,73 | 5,04 | 5,45 |
| Announcement Date | 29.08.19 | 02.09.20 | 01.09.21 | 01.09.22 | 31.08.23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period : Juni | 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 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3 997 | 5 474 | 2 974 | 4 985 | 1 955 | 1 883 | 3 839 | 2 718 | 3 242 | 5 959 | 2 447 | 2 295 | 4 742 | 3 308 | 3 808 | 7 116 | 5 021 | 3 042 | 3 835 | 6 888 | 2 665 | 2 834 | 5 529 |
| EBITDA | - | - | - | - | - | - | - | - | - | 2 187 | - | - | - | - | - | - | - | - | - | 2 307 | - | - | 1 577 |
| EBIT | 927 | 1 788 | 472 | 1 595 | - | - | 828 | - | - | 1 998 | - | - | 1 026 | - | - | 2 423 | 925 | - | - | 2 320 | - | - | 1 105 |
| Operating Margin | 23,2% | 32,7% | 15,9% | 32,0% | - | - | 21,6% | - | - | 33,5% | - | - | 21,6% | - | - | 34,1% | 18,4% | - | - | 33,7% | - | - | 20,0% |
| Earnings before Tax (EBT) | - | 1 471 | - | 1 280 | - | - | 706 | - | - | 1 862 | - | - | 843 | - | - | 2 370 | 563 | - | - | 2 156 | - | - | 907 |
| Net income | - | 1 032 | - | 966 | - | - | 339 | - | - | 1 390 | - | - | 606 | - | - | 1 792 | 470 | - | - | 1 635 | - | - | 663 |
| Net margin | - | 18,9% | - | 19,4% | - | - | 8,83% | - | - | 23,3% | - | - | 12,8% | - | - | 25,2% | 9,36% | - | - | 23,7% | - | - | 12,0% |
| EPS | 1,63 | 3,89 | - | 3,69 | - | - | 1,30 | - | - | 5,33 | - | - | 2,36 | - | - | 6,96 | 1,84 | - | - | 6,43 | - | - | 2,66 |
| Dividend per Share | 1,94 | 1,18 | 2,66 | 1,33 | - | - | 3,12 | - | - | 1,33 | - | - | 2,56 | - | - | 1,56 | 2,64 | - | - | 3,21 | - | - | 1,33 |
| Announcement Date | 29.08.19 | 13.02.20 | 02.09.20 | 11.02.21 | 22.04.21 | 01.09.21 | 01.09.21 | 21.10.21 | 09.02.22 | 09.02.22 | 28.04.22 | 01.09.22 | 01.09.22 | 20.10.22 | 16.02.23 | 16.02.23 | 31.08.23 | 19.10.23 | - | - | - | - | - |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period : June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6 620 | 8 424 | 7 452 | 8 657 | 10 273 | 10 356 | 10 334 | 10 127 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2,36x | 3,23x | 2,67x | 2,54x | 2,73x | 2,68x | 2,50x | 2,30x |
| Free Cash Flow 1 | 1 366 | 830 | 1 628 | 1 813 | 1 431 | 1 673 | 1 825 | 2 046 |
| ROE (net income / shareholders' equity) | 9,45% | 9,61% | 11,2% | 13,0% | 14,8% | 14,2% | 14,8% | 15,0% |
| Shareholders' equity 1 | 15 392 | 3 424 | 11 656 | 15 387 | 15 303 | 16 243 | 16 951 | 17 970 |
| ROA (Net income/ Total Assets) | 4,80% | 4,60% | 5,06% | 5,86% | 6,35% | 5,93% | 6,26% | 6,54% |
| Assets 1 | 30 300 | 7 153 | 25 773 | 34 079 | 35 616 | 38 959 | 39 965 | 41 213 |
| Book Value Per Share 2 | 60,2 | 52,6 | 56,6 | 61,8 | 61,5 | 63,7 | 67,0 | 70,7 |
| Cash Flow per Share 2 | 6,42 | 4,47 | 7,64 | 8,83 | 7,91 | 9,94 | 11,1 | 11,9 |
| Capex 1 | 338 | 352 | 370 | 481 | 610 | 893 | 820 | 824 |
| Capex / Sales | 3,68% | 4,17% | 4,19% | 4,49% | 5,03% | 7,20% | 6,24% | 5,97% |
| Announcement Date | 29/08/19 | 02/09/20 | 01/09/21 | 01/09/22 | 31/08/23 | - | - | - |
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 :
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
158.15EUR
Average target price
192.59EUR
Spread / Average Target
+21.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -13.93% | 43 504 M $ | |
| -22.85% | 79 826 M $ | |
| -8.74% | 29 012 M $ | |
| -27.01% | 9 409 M $ | |
| +1.46% | 5 946 M $ | |
| -31.85% | 5 936 M $ | |
| 0.00% | 4 370 M $ | |
| +55.31% | 2 524 M $ | |
| +15.17% | 1 616 M $ | |
| -1.26% | 1 506 M $ |
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