Financials Sanofi

Equities

SAN

FR0000120578

Pharmaceuticals

Market Closed - Euronext Paris Other stock markets 11:38:43 2025-05-23 am EDT			5-day change	1st Jan Change
92.14 ^EUR	-1.36%		+0.38%	-1.71%

May. 14	FDA upheaval pushes some biotech firms to plan early trials out of US	RE
May. 12	European shares close higher after Sino-US tariff deal relieves markets	RE

Projected Income Statement: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	36,041	37,761	42,997	43,070	41,081	45,223	48,267	50,862
Change	-	4.77%	13.87%	0.17%	-4.62%	10.08%	6.73%	5.38%
EBITDA ¹	11,443	12,183	14,627	14,259	12,889	14,087	15,119	16,002
Change	-	6.47%	20.06%	-2.52%	-9.61%	9.3%	7.32%	5.84%
EBIT ¹	9,762	10,714	13,040	12,670	11,343	12,559	13,665	14,419
Change	-	9.75%	21.71%	-2.84%	-10.47%	10.72%	8.8%	5.52%
Interest Paid ¹	-337	-328	-234	-722	-554	-290	-184.9	-132
Earnings before Tax (EBT) ¹	13,804	7,798	8,268	7,038	6,997	8,946	10,438	11,554
Change	-	-43.51%	6.03%	-14.88%	-0.58%	27.85%	16.68%	10.69%
Net income ¹	12,314	6,223	6,720	5,400	5,744	9,719	9,123	9,998
Change	-	-49.46%	7.99%	-19.64%	6.37%	69.21%	-6.14%	9.59%
Announcement Date	2/5/21	2/4/22	2/3/23	2/1/24	1/30/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	8,973	8,207	9,479	9,382	8,591	8,744	10,432	9,994	9,674	10,116	12,482	10,725	10,222	9,965	11,964	10,919	10,464	10,745	13,438	10,564	9,895	9,993	12,972	11,534	10,508	10,695	13,955	12,310
Change	-	-8.54%	15.5%	-1.02%	-8.43%	1.78%	19.3%	-4.2%	-3.2%	4.57%	23.39%	-14.08%	-4.69%	-2.51%	20.06%	-8.73%	-4.17%	2.69%	25.06%	-21.39%	-6.33%	0.99%	29.81%	-11.09%	-8.89%	1.78%	30.48%	-11.79%
EBITDA ¹	3,116	2,572	3,431	2,446	3,027	2,651	3,952	2,623	3,426	3,163	4,931	3,107	3,703	3,087	4,460	3,009	3,192	3,210	5,057	2,428	3,251	2,743	4,982	2,493	-	-	-	-
Change	-	-17.46%	33.4%	-28.71%	23.75%	-12.42%	49.08%	-33.63%	30.61%	-7.68%	55.9%	-36.99%	19.18%	-16.64%	44.48%	-32.53%	6.08%	0.56%	57.54%	-51.99%	33.9%	-15.63%	81.64%	-49.96%	-	-	-	-
EBIT ¹	2,659	2,146	3,027	2,052	2,638	2,265	3,558	2,256	3,065	2,753	4,498	2,724	3,333	2,726	4,028	2,583	2,843	2,813	4,607	2,078	2,902	2,450	4,485	2,518	2,797	3,000	5,255	2,425
Change	-	-19.29%	41.05%	-32.21%	28.56%	-14.14%	57.09%	-36.59%	35.86%	-10.18%	63.39%	-39.44%	22.36%	-18.21%	47.76%	-35.87%	10.07%	-1.06%	63.78%	-54.89%	39.65%	-15.56%	83.05%	-43.86%	11.06%	7.27%	75.17%	-53.85%
Charge d'intérêts ¹	-75	-92	-76	-94	-85	-76	-85	-83	-78	-77	-51	-28	-7	-77	-175	-463	-102	-203	-132	-124	-127	-66	-66	-64	-	-	-	-
Earnings before Tax (EBT) ¹	1,971	7,971	2,448	1,415	1,973	1,479	2,957	1,391	2,349	1,383	2,666	1,921	2,468	1,718	2,971	-249	1,310	1,416	3,581	1,070	2,158	2,493	4,441	2,310	-	-	-	-
Change	-	304.41%	-69.29%	-42.2%	39.43%	-25.04%	99.93%	-52.96%	68.87%	-41.12%	92.77%	-27.94%	28.47%	-30.39%	72.93%	-108.38%	626.1%	8.09%	152.9%	-70.12%	101.68%	15.52%	78.14%	-47.98%	-	-	-	-
Net income ¹	1,683	7,598	1,952	1,081	1,566	1,210	2,317	1,131	2,009	1,175	2,076	1,460	1,995	1,435	2,525	-555	1,133	1,113	2,815	683	1,872	4,711	3,291	1,389	-	-	-	-
Change	-	351.46%	-74.31%	-44.62%	44.87%	-22.73%	91.49%	-51.19%	77.63%	-41.51%	76.68%	-29.67%	36.64%	-28.07%	75.96%	-121.98%	304.14%	-1.77%	152.92%	-75.74%	174.08%	151.66%	-30.15%	-57.78%	-	-	-	-
Announcement Date	4/24/20	7/29/20	10/29/20	2/5/21	4/28/21	7/29/21	10/28/21	2/4/22	4/28/22	7/28/22	10/28/22	2/3/23	4/27/23	7/28/23	10/27/23	2/1/24	4/25/24	7/25/24	10/25/24	1/30/25	4/24/25	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	8,789	9,983	6,437	7,793	8,772	5,580	1,829	-2,832
Change	-	13.59%	-35.52%	21.07%	12.56%	-36.39%	-67.22%	-254.84%
Announcement Date	2/5/21	2/4/22	2/3/23	2/1/24	1/30/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,329	2,043	2,201	3,024	1,808	1,982	2,250	2,336
Change	-	53.72%	7.73%	37.39%	-40.21%	9.64%	13.51%	3.81%
Free Cash Flow (FCF) ¹	6,982	8,096	8,483	8,478	5,955	6,549	9,390	9,365
Change	-	15.96%	4.78%	-0.06%	-29.76%	9.98%	43.38%	-0.27%
Announcement Date	2/5/21	2/4/22	2/3/23	2/1/24	1/30/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Sanofi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	31.75%	32.26%	34.02%	33.11%	31.37%	31.15%	31.32%	31.46%
EBIT Margin (%)	27.09%	28.37%	30.33%	29.42%	27.61%	27.77%	28.31%	28.35%
EBT Margin (%)	38.3%	20.65%	19.23%	16.34%	17.03%	19.78%	21.63%	22.72%
Net margin (%)	34.17%	16.48%	15.63%	12.54%	13.98%	21.49%	18.9%	19.66%
FCF margin (%)	19.37%	21.44%	19.73%	19.68%	14.5%	14.48%	19.46%	18.41%
FCF / Net Income (%)	56.7%	130.1%	126.24%	157%	103.67%	67.38%	102.93%	93.67%
Profitability
ROA	6.47%	5.3%	8.37%	4.27%	4.43%	6.47%	6.89%	7.17%
ROE	12.05%	12.46%	14.42%	13.65%	11.75%	12.87%	13.51%	13.93%
Financial Health
Leverage (Debt/EBITDA)	0.77x	0.82x	0.44x	0.55x	0.68x	0.4x	0.12x	-
Debt / Free cash flow	1.26x	1.23x	0.76x	0.92x	1.47x	0.85x	0.19x	-
Capital Intensity
CAPEX / Current Assets (%)	3.69%	5.41%	5.12%	7.02%	4.4%	4.38%	4.66%	4.59%
CAPEX / EBITDA (%)	11.61%	16.77%	15.05%	21.21%	14.03%	14.07%	14.88%	14.6%
CAPEX / FCF (%)	19.03%	25.23%	25.95%	35.67%	30.36%	30.27%	23.96%	24.94%
Items per share
Cash flow per share ¹	5.942	8.365	8.408	8.195	7.857	8.622	9.359	11
Change	-	40.77%	0.52%	-2.53%	-4.13%	9.74%	8.55%	17.53%
Dividend per Share ¹	3.2	3.33	3.56	3.76	3.92	4.054	4.283	4.494
Change	-	4.06%	6.91%	5.62%	4.26%	3.41%	5.67%	4.92%
Book Value Per Share ¹	50.26	54.84	59.74	59.15	62.08	65.34	68.64	72.79
Change	-	9.11%	8.94%	-0.98%	4.96%	5.25%	5.04%	6.05%
EPS ¹	9.82	4.97	5.37	4.31	4.59	7.762	7.357	8.383
Change	-	-49.39%	8.05%	-19.74%	6.5%	69.1%	-5.22%	13.96%
Nbr of stocks (in thousands)	1,256,375	1,255,293	1,254,060	1,253,891	1,247,793	1,218,224	1,218,224	1,218,224
Announcement Date	2/5/21	2/4/22	2/3/23	2/1/24	1/30/25	-	-	-