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 21,41,234 - -
Change - -4.77% 5.49% 16.36% -4.96% 19.01% - -
Enterprise Value (EV) 1 15,59,769 13,95,557 15,46,536 17,82,343 15,88,618 18,26,644 17,19,843 16,01,229
Change - -10.53% 10.82% 15.25% -10.87% 14.98% -5.85% -6.9%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 8.2x 7.52x 6.87x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.42x 1.28x 1.17x
PEG - 0.9x 3.41x 0.2x -2.82x 0.6x 0.84x 0.72x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.25x 2.09x 1.95x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 1.92x 1.68x 1.46x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.03x 4.41x 3.78x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.09x 5.26x 4.55x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 8.59x 7.44x 6.36x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11.6% 13.4% 15.7%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.29% 5.66% 6.24%
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 11,740.00 11,740.00 11,740.00
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, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
36.17x6.84x23.62x0.8% 4.94TCr
18.64x2.11x9.98x1.28% 3.63TCr
27.33x3.33x17.22x0.9% 1.19TCr
26.27x3.88x15.79x0.6% 1.15TCr
19.11x3.34x11.99x3.48% 898.9Cr
16.16x2.08x7x3.21% 700.4Cr
33.34x3.79x16.13x0.24% 646.21Cr
40.38x7.73x28.68x0.98% 440.97Cr
Average 27.18x 4.14x 16.30x 1.44% 1.7TCr
Weighted average by Cap. 27.72x 4.43x 16.93x 1.2%

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