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 23,71,077 - -
Change - -4.77% 5.49% 16.36% -4.96% 31.78% - -
Enterprise Value (EV) 1 15,59,769 13,95,557 15,46,536 17,82,343 15,88,618 20,53,077 19,49,687 18,31,073
Change - -10.53% 10.82% 15.25% -10.87% 29.24% -5.04% -6.08%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 9.11x 8.26x 7.48x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.57x 1.42x 1.29x
PEG - 0.9x 3.41x 0.2x -2.82x 0.7x 0.8x 0.7x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.43x 2.31x 2.15x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 2.11x 1.9x 1.66x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.48x 4.97x 4.28x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.75x 5.93x 5.16x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 9.09x 8.39x 7.18x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11% 11.9% 13.9%
Dividend per Share 2 225 390 - - - 574 668.7 739.8
Rate of return 2.58% 4.7% - - - 4.42% 5.14% 5.69%
EPS 2 751 835 860 1,307 1,271 1,427 1,573 1,737
Distribution rate 30% 46.7% - - - 40.2% 42.5% 42.6%
Net sales 1 6,30,595 8,02,755 8,05,158 8,57,545 9,28,962 9,74,609 10,25,839 11,02,027
EBITDA 1 1,76,123 1,96,480 2,40,625 3,10,678 3,53,314 3,74,660 3,92,145 4,27,816
EBIT 1 1,35,832 1,53,555 1,89,817 2,61,157 2,92,851 3,04,122 3,29,026 3,54,886
Net income 1 1,39,626 1,55,581 1,58,850 2,39,244 2,32,335 2,65,272 2,88,115 3,16,164
Net Debt 1 -59,856 -1,46,733 -80,493 -1,10,818 -2,10,608 -3,18,000 -4,21,390 -5,40,005
Reference price 2 8,725.00 8,300.00 8,750.00 10,400.00 9,865.00 13,000.00 13,000.00 13,000.00
Nbr of stocks (in thousands) 1,85,630 1,85,818 1,85,946 1,82,035 1,82,385 1,82,391 - -
Announcement Date 02/03/22 28/02/23 29/02/24 07/04/25 27/02/26 - - -
1HUF in Million2HUF
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
35.61x6.69x23.16x0.89% 4.84TCr
18.56x2.2x10x1.37% 3.97TCr
28.23x3.44x17.81x0.9% 1.23TCr
27.22x3.89x16.12x0.59% 1.18TCr
18.63x3.31x11.51x3.87% 906.17Cr
9.11x2.11x5.48x4.42% 756.57Cr
15.83x2.06x6.7x3.22% 717.59Cr
35.19x4.02x17.09x0.23% 684.21Cr
Average 23.55x 3.46x 13.48x 1.94% 1.79TCr
Weighted average by Cap. 26.05x 4.11x 15.67x 1.46%

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