Company Valuation: Givaudan SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 44,220 26,140 32,148 36,595 29,035 31,582 - -
Change - -40.89% 22.98% 13.83% -20.66% 8.77% - -
Enterprise Value (EV) 1 48,610 30,670 36,453 40,597 32,713 35,034 34,705 34,337
Change - -36.91% 18.86% 11.37% -19.42% 7.09% -0.94% -1.06%
P/E 54.2x 30.6x 36.1x 33.7x 27.2x 29.4x 26.8x 25.2x
PBR 11.3x 6.18x 8.06x 8x 6.4x 6.42x 5.83x 5.29x
PEG - 6.53x 8.43x 1.5x -14.74x 43.75x 2.68x 4.01x
Capitalization / Revenue 6.62x 3.67x 4.65x 4.94x 3.89x 4.17x 3.94x 3.76x
EV / Revenue 7.27x 4.31x 5.27x 5.48x 4.38x 4.62x 4.34x 4.09x
EV / EBITDA 32.8x 20.8x 24.7x 23x 18.7x 19.7x 18.3x 17.2x
EV / EBIT 44.6x 27.6x 32.7x 29.1x 23.7x 24.8x 22.6x 21.2x
EV / FCF 47.1x 47.6x 33.2x 30.5x 27.1x 33x 30.5x 29.2x
FCF Yield 2.12% 2.1% 3.01% 3.28% 3.69% 3.03% 3.28% 3.42%
Dividend per Share 2 66 67 68 68 70 73.86 75.84 78.6
Rate of return 1.38% 2.36% 1.95% 1.71% 2.23% 2.16% 2.22% 2.3%
EPS 2 88.37 92.51 96.47 117.6 115.5 116.2 127.8 135.9
Distribution rate 74.7% 72.4% 70.5% 57.8% 60.6% 63.5% 59.3% 57.8%
Net sales 1 6,684 7,117 6,915 7,412 7,472 7,579 8,006 8,396
EBITDA 1 1,482 1,476 1,473 1,765 1,751 1,775 1,895 1,992
EBIT 1 1,089 1,112 1,116 1,394 1,381 1,413 1,533 1,622
Net income 1 821 856 893 1,090 1,071 1,079 1,191 1,271
Net Debt 1 4,390 4,530 4,305 4,002 3,678 3,452 3,123 2,755
Reference price 2 4,792.00 2,833.00 3,484.00 3,966.00 3,146.00 3,422.00 3,422.00 3,422.00
Nbr of stocks (in thousands) 9,228 9,227 9,227 9,227 9,229 9,229 - -
Announcement Date 28/01/22 25/01/23 25/01/24 24/01/25 29/01/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.44x4.62x19.73x2.16% 3.92TCr
35x4.94x19.89x1.07% 7.68TCr
22x2.66x13.73x2.42% 3.15TCr
15.31x1.47x8.93x2.05% 2.65TCr
35.43x8.69x26.44x2.59% 2.2TCr
10.85x2.8x5.92x3.69% 1.99TCr
26.12x2.72x11.1x1.63% 1.83TCr
12.2x2.43x5.23x1.34% 1.42TCr
22.96x2.74x12.59x1.49% 1.39TCr
15.21x1.67x6.57x2.02% 1.33TCr
Average 22.45x 3.47x 13.01x 2.05% 2.76TCr
Weighted average by Cap. 25.79x 3.90x 15.27x 1.9%

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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