Projected Income Statement: Vestas Wind Systems A/S

Forecast Balance Sheet: Vestas Wind Systems A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 -1,920 -1,200 49 69 - -1,065 -1,712 -2,544
Change - -162.5% -95.92% 40.82% - - -260.75% -248.6%
Announcement Date 2/10/21 2/10/22 2/8/23 2/7/24 2/5/25 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Vestas Wind Systems A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
CAPEX 1 688 876 819 892 1,155 1,208 1,171 1,167
Change - 27.33% -6.51% 8.91% 29.48% 4.62% -3.12% -0.33%
Free Cash Flow (FCF) 1 364 57 -874 245 991 747.3 1,121 1,276
Change - -84.34% -1,633.33% -128.03% 304.49% -24.59% 49.98% 13.84%
Announcement Date 2/10/21 2/10/22 2/8/23 2/7/24 2/5/25 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Vestas Wind Systems A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027

Profitability

        
EBITDA Margin (%) 9.39% 8.87% -0.43% 6.68% 9.28% 11.25% 12.88% 13.84%
EBIT Margin (%) 5.06% 2.96% -7.95% 1.5% 4.28% 6.08% 8.11% 8.91%
EBT Margin (%) 6.3% 1.65% -11.71% 0.66% 4.08% 5.66% 7.64% 8.61%
Net margin (%) 5.16% 1.07% -10.85% 0.5% 2.89% 4.25% 5.67% 6.42%
FCF margin (%) 2.46% 0.37% -6.03% 1.59% 5.73% 3.88% 5.23% 5.62%
FCF / Net Income (%) 47.58% 34.13% 55.6% 318.18% 198.6% 91.23% 92.37% 87.56%

Profitability

        
ROA 4.71% 0.88% -7.91% 0.36% 2.12% 3.1% 3.92% 4.79%
ROE 21.4% 3.6% -43.9% 2.6% 15.22% 20.38% 25.84% 24.93%

Financial Health

        
Leverage (Debt/EBITDA) - - -0.78x 0.07x - - - -
Debt / Free cash flow - - -0.06x 0.28x - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 4.64% 5.62% 5.65% 5.8% 6.68% 6.27% 5.47% 5.14%
CAPEX / EBITDA (%) 49.46% 63.39% -1,300% 86.77% 71.96% 55.72% 42.44% 37.12%
CAPEX / FCF (%) 189.01% 1,536.84% -93.71% 364.08% 116.55% 161.7% 104.45% 91.45%

Items per share

        
Cash flow per share 1 0.7559 0.9881 -0.1938 1.017 2.309 1.647 2.09 2.251
Change - 30.72% -119.61% -624.77% 127% -28.67% 26.93% 7.71%
Dividend per Share 1 0.228 0.05 - - 0.1 0.1919 0.3212 0.3954
Change - -78.07% - - - 91.93% 67.36% 23.1%
Book Value Per Share 1 4.634 4.7 3 3 3.494 4.112 4.978 6.138
Change - 1.43% -36.17% 0% 16.45% 17.71% 21.04% 23.32%
EPS 1 0.778 0.17 -1.56 0.08 0.49 0.8146 1.219 1.454
Change - -78.15% -1,017.65% -105.13% 512.5% 66.25% 49.68% 19.25%
Nbr of stocks (in thousands) 1,004,375 1,004,401 1,005,144 1,009,189 1,009,046 1,005,763 1,005,763 1,005,763
Announcement Date 2/10/21 2/10/22 2/8/23 2/7/24 2/5/25 - - -
1EUR
Estimates
2025 *2026 *
P/E ratio 17x 11.4x
PBR 3.38x 2.79x
EV / Sales 0.67x 0.57x
Yield 1.38% 2.31%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
AAA
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
13.88EUR
Average target price
20.94EUR
Spread / Average Target
+50.86%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. VWS Stock
  4. Financials Vestas Wind Systems A/S