Company Valuation: Gedeon Richter

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,19,625 15,42,290 16,27,029 18,93,161 17,99,226 21,72,240 - -
Change - -4.77% 5.49% 16.36% -4.96% 20.73% - -
Enterprise Value (EV) 1 15,59,769 13,95,557 15,46,536 17,82,343 15,88,618 18,57,650 17,50,849 16,32,235
Change - -10.53% 10.82% 15.25% -10.87% 16.93% -5.75% -6.77%
P/E Ratio 11.6x 9.94x 10.2x 7.96x 7.76x 8.32x 7.63x 6.97x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.44x 1.3x 1.18x
PEG - 0.9x 3.41x 0.2x -2.82x 0.7x 0.85x 0.73x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.28x 2.12x 1.98x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 1.95x 1.71x 1.49x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.11x 4.49x 3.85x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.19x 5.36x 4.64x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 8.74x 7.57x 6.49x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11.4% 13.2% 15.4%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.21% 5.58% 6.15%
EPS 2 751 835 860 1,307 1,271 1,432 1,561 1,709
Distribution rate 30% 46.7% - - - 43.3% 42.6% 42.9%
Net sales 1 6,30,595 8,02,755 8,05,158 8,57,545 9,28,962 9,51,724 10,23,546 10,98,192
EBITDA 1 1,76,123 1,96,480 2,40,625 3,10,678 3,53,314 3,63,366 3,89,794 4,24,113
EBIT 1 1,35,832 1,53,555 1,89,817 2,61,157 2,92,851 2,99,996 3,26,732 3,51,898
Net income 1 1,39,626 1,55,581 1,58,850 2,39,244 2,32,335 2,59,474 2,86,154 3,13,070
Net Debt 1 -59,856 -1,46,733 -80,493 -1,10,818 -2,10,608 -3,14,590 -4,21,390 -5,40,005
Reference price 2 8,725.00 8,300.00 8,750.00 10,400.00 9,865.00 11,910.00 11,910.00 11,910.00
Nbr of stocks (in thousands) 1,85,630 1,85,818 1,85,946 1,82,035 1,82,385 1,82,388 - -
Announcement Date 02/03/22 28/02/23 29/02/24 07/04/25 27/02/26 - - -
1HUF in Million2HUF
Estimates

P/E Ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
37.14x7.03x23.97x0.83% 4.57TCr
17.28x1.92x9.13x1.4% 3.4TCr
26.5x3.25x16.66x0.91% 1.17TCr
23.66x4.13x15.38x0.75% 1.15TCr
19.79x3.43x12.41x3.44% 928.17Cr
14.9x1.96x7.41x3.6% 661.59Cr
32.74x3.72x15.82x0.24% 643.74Cr
40.47x - - - 500.51Cr
Average 26.56x 3.63x 14.40x 1.6% 1.63TCr
Weighted average by Cap. 27.35x 4.32x 16.32x 1.3%

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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