Stock 2X0 CORTEVA, INC.
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Financials Corteva, Inc. Xetra

Equities

2X0

US22052L1044

Agricultural Chemicals

Real-time Estimate Tradegate
Other stock markets
 04:11:13 16/07/2024 pm IST 		5-day change 1st Jan Change
48.54 EUR +0.39% Intraday chart for Corteva, Inc. +1.15% +12.18%
05/07 Berenberg Adjusts Price Target on Corteva to $56 From $54, Maintains Hold Rating MT
25/06 RBC Capital Adjusts Price Target on Corteva to $62 From $64 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,123 28,847 34,463 41,998 33,771 36,870 - -
Enterprise Value (EV) 1 20,476 26,157 31,121 40,114 33,616 36,508 36,156 36,071
P/E ratio -23.1 x 42.5 x 19.9 x 35.4 x 46.5 x 26.7 x 19.9 x 17 x
Yield 1.32% 1.34% 1.14% 0.99% - 1.26% 1.39% 1.49%
Capitalization / Revenue 1.6 x 2.03 x 2.2 x 2.41 x 1.96 x 2.11 x 2.03 x 1.96 x
EV / Revenue 1.48 x 1.84 x 1.99 x 2.3 x 1.95 x 2.09 x 1.99 x 1.91 x
EV / EBITDA 10.3 x 12.5 x 12.1 x 12.4 x 9.94 x 10.3 x 8.96 x 8.31 x
EV / FCF -220 x 16.5 x 14.4 x 150 x 21.2 x 20.7 x 19.1 x 18.1 x
FCF Yield -0.45% 6.07% 6.92% 0.67% 4.72% 4.84% 5.24% 5.52%
Price to Book 0.91 x 1.16 x 1.35 x 1.66 x 1.36 x 1.47 x 1.41 x 1.37 x
Nbr of stocks (in thousands) 7,48,401 7,45,016 7,28,909 7,14,492 7,04,729 6,96,976 - -
Reference price 2 29.56 38.72 47.28 58.78 47.92 52.90 52.90 52.90
Announcement Date 30/01/20 03/02/21 02/02/22 01/02/23 31/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 13,846 14,217 15,655 17,455 17,226 17,436 18,150 18,844
EBITDA 1 1,987 2,087 2,576 3,224 3,381 3,551 4,036 4,339
EBIT 1 987 910 2,055 2,001 2,170 2,376 2,849 3,152
Operating Margin 7.13% 6.4% 13.13% 11.46% 12.6% 13.63% 15.7% 16.73%
Earnings before Tax (EBT) 1 -316 675 2,346 1,426 1,093 1,817 2,397 2,649
Net income 1 -959 681 1,759 1,147 735 1,398 1,805 2,041
Net margin -6.93% 4.79% 11.24% 6.57% 4.27% 8.02% 9.95% 10.83%
EPS 2 -1.280 0.9100 2.370 1.660 1.030 1.979 2.656 3.104
Free Cash Flow 1 -93 1,589 2,154 267 1,586 1,766 1,894 1,992
FCF margin -0.67% 11.18% 13.76% 1.53% 9.21% 10.13% 10.44% 10.57%
FCF Conversion (EBITDA) - 76.14% 83.62% 8.28% 46.91% 49.74% 46.93% 45.92%
FCF Conversion (Net income) - 233.33% 122.46% 23.28% 215.78% 126.31% 104.92% 97.64%
Dividend per Share 2 0.3900 0.5200 0.5400 0.5800 - 0.6643 0.7347 0.7898
Announcement Date 30/01/20 03/02/21 02/02/22 01/02/23 31/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2
Net sales 1 3,479 4,601 6,252 2,780 3,825 4,884 6,045 2,590 3,707 4,492 6,183 10,742 2,779 3,974 6,946 4,660 6,503
EBITDA 1 262 1,039 1,719 96 370 1,231 1,746 18 386 1,034 1,859 2,902 149.8 520.1 702 1,228 2,100
EBIT 1 124 732 1,417 -36 66 944 1,440 -114 74 727 1,568 - -214.7 192.6 - 828 -
Operating Margin 3.56% 15.91% 22.66% -1.29% 1.73% 19.33% 23.82% -4.4% 2% 16.18% 25.36% - -7.73% 4.85% - 17.77% -
Earnings before Tax (EBT) 1 245 698 1,327 -396 -203 776 1,084 -444 -323 482 1,412 - -179.7 169 - - -
Net income 1 159 564 969 -331 -55 595 714 -321 -253 419 1,063 - -194.3 84.91 - - -
Net margin 4.57% 12.26% 15.5% -11.91% -1.44% 12.18% 11.81% -12.39% -6.82% 9.33% 17.19% - -6.99% 2.14% - - -
EPS 2 0.2200 0.7800 1.330 -0.4500 -0.0600 0.8300 1.000 -0.4500 -0.3600 0.6000 1.531 - -0.2812 0.1213 - - -
Dividend per Share 2 0.1400 0.1400 0.1500 0.1500 0.1500 0.1500 0.1600 0.1600 - - 0.1594 - 0.1668 0.1664 - 0.1705 0.1695
Announcement Date 02/02/22 04/05/22 04/08/22 03/11/22 01/02/23 03/05/23 03/08/23 27/10/23 31/01/24 01/05/24 - - - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,647 2,690 3,342 1,884 155 377 737 830
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -93 1,589 2,154 267 1,586 1,780 1,901 1,999
ROE (net income / shareholders' equity) 2.17% 2.77% 7.01% 7.63% 7.6% 7.8% 9.48% 10.4%
ROA (Net income/ Total Assets) 1.42% 1.6% 4.14% 4.55% 4.47% 4.02% 4.75% 5.14%
Assets 1 -67,516 42,523 42,496 25,194 16,438 34,803 37,994 39,734
Book Value Per Share 2 32.50 33.40 34.90 35.50 35.20 36.10 37.40 38.60
Cash Flow per Share 2 1.430 2.750 3.680 1.200 2.510 3.440 3.690 4.200
Capex 1 1,163 475 573 605 595 624 641 645
Capex / Sales 8.4% 3.34% 3.66% 3.47% 3.45% 3.58% 3.53% 3.42%
Announcement Date 30/01/20 03/02/21 02/02/22 01/02/23 31/01/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Corteva, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
52.9 USD
Average target price
63.33 USD
Spread / Average Target
+19.72%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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