Company Valuation: Roche Holding AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 306,810 239,812 197,073 205,191 262,098 259,974 - -
Change - -21.84% -17.82% 4.12% 27.73% -0.81% - -
Enterprise Value (EV) 1 324,977 255,396 215,772 222,528 278,258 270,287 263,412 255,476
Change - -21.41% -15.51% 3.13% 25.04% -2.86% -2.54% -3.01%
P/E Ratio 23.4x 18.9x 17.1x 24.8x 20.5x 17.7x 16.5x 15.2x
PBR 13.2x 8.29x 5.91x 5.67x 7.8x 6.52x 5.51x 4.68x
PEG - -3.69x -2.48x -0.9x 0.4x 1.1x 2.23x 1.74x
Capitalization / Revenue 4.89x 3.79x 3.36x 3.39x 4.26x 4.15x 3.99x 3.8x
EV / Revenue 5.17x 4.04x 3.67x 3.68x 4.52x 4.32x 4.04x 3.74x
EV / EBITDA 13.2x 10.2x 9.82x 9.45x 11.3x 10.6x 9.68x 8.84x
EV / EBIT 14.8x 11.5x 11.2x 10.7x 12.7x 12x 10.9x 9.89x
EV / FCF 20.7x 19.6x 19.1x 14.5x 23.6x 16.9x 15.6x 14x
FCF Yield 4.83% 5.11% 5.23% 6.89% 4.24% 5.9% 6.4% 7.14%
Dividend per Share 2 9.3 9.5 9.6 9.7 9.8 10.03 10.28 10.56
Rate of return 2.45% 3.27% 3.93% 3.8% 2.99% 3.04% 3.11% 3.2%
EPS 2 16.2 15.37 14.31 10.31 16.04 18.64 20.02 21.76
Distribution rate 57.4% 61.8% 67.1% 94.1% 61.1% 53.8% 51.3% 48.5%
Net sales 1 62,801 63,281 58,716 60,495 61,516 62,581 65,133 68,351
EBITDA 1 24,692 25,015 21,976 23,538 24,608 25,465 27,203 28,889
EBIT 1 21,897 22,173 19,240 20,823 21,833 22,565 24,231 25,827
Net income 1 13,930 12,421 11,498 8,277 12,880 15,156 16,221 17,488
Net Debt 1 18,167 15,584 18,699 17,337 16,160 10,313 3,438 -4,498
Reference price 2 379.10 290.50 244.50 255.50 328.20 330.00 330.00 330.00
Nbr of stocks (in thousands) 800,952 800,579 798,652 796,789 796,317 795,618 - -
Announcement Date 2/3/22 2/2/23 2/1/24 1/30/25 1/29/26 - - -
1CHF in Million2CHF
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.15x12.05x24.81x0.6% 1,010B
25.74x5.93x16.13x2.22% 580B
27.88x6.79x13.86x3.01% 402B
21.24x5.49x13.32x2.92% 281B
22.78x4.74x13.47x1.85% 280B
12.7x4.75x9.72x3.95% 197B
23.09x6.16x10.76x2.84% 192B
-45x5.43x29.95x2.58% 156B
12.26x3.2x7.8x6.68% 149B
Average 14.87x 6.06x 15.54x 2.96% 360.86B
Weighted average by Cap. 22.70x 7.59x 17.65x 2.21%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Roche Holding AG
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