Company Valuation: Glencore plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 66,484 84,943 73,181 53,787 64,096 87,174 - -
Change - 27.77% -13.85% -26.5% 19.17% 36.01% - -
Enterprise Value (EV) 1 97,884 1,11,797 1,03,497 90,192 1,03,501 1,23,412 1,20,284 1,17,005
Change - 14.21% -7.42% -12.86% 14.76% 19.24% -2.53% -2.73%
P/E 13.4x 5x 17.7x -34x 182x 11.8x 12x 11.9x
PBR 1.82x 1.89x 1.69x 1.2x 1.68x 2.13x 2.01x 1.84x
PEG - 0x -0.2x 0x -1x 0x -5.53x 11.8x
Capitalization / Revenue 0.33x 0.33x 0.34x 0.23x 0.26x 0.27x 0.3x 0.31x
EV / Revenue 0.48x 0.44x 0.48x 0.39x 0.42x 0.38x 0.42x 0.41x
EV / EBITDA 4.59x 3.28x 6.05x 6.28x 7.67x 6.03x 5.75x 5.63x
EV / EBIT 6.75x 4.19x 9.96x 13x 17.3x 9.01x 8.99x 9.14x
EV / FCF 18.7x 11.8x 15.8x 20.3x -357x 20.6x 14.7x 17.1x
FCF Yield 5.36% 8.48% 6.33% 4.93% -0.28% 4.85% 6.81% 5.84%
Dividend per Share 2 0.26 0.44 0.13 0.1 0.1 0.2549 0.2539 0.2703
Rate of return 5.12% 6.61% 2.16% 2.26% 1.83% 3.43% 3.42% 3.64%
EPS 2 0.38 1.33 0.34 -0.13 0.03 0.6303 0.6166 0.6228
Distribution rate 68.4% 33.1% 38.2% -76.9% 333% 40.4% 41.2% 43.4%
Net sales 1 2,03,751 2,55,984 2,17,829 2,30,944 2,47,535 3,27,706 2,88,417 2,84,614
EBITDA 1 21,323 34,060 17,102 14,358 13,500 20,452 20,934 20,769
EBIT 1 14,495 26,657 10,392 6,938 5,978 13,700 13,375 12,806
Net income 1 4,974 17,320 4,280 -1,634 400 7,472 7,323 7,288
Net Debt 1 31,400 26,854 30,316 36,405 39,405 36,239 33,110 29,831
Reference price 2 5.077 6.656 6.013 4.424 5.472 7.427 7.427 7.427
Nbr of stocks (in thousands) 1,30,94,998 1,27,62,238 1,21,69,709 1,21,57,132 1,17,13,994 1,17,36,770 - -
Announcement Date 15/02/22 15/02/23 21/02/24 19/02/25 18/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.54x3.91x7.07x3.56% 22TCr
11.1x2.74x5.99x5.35% 16TCr
15.14x4.35x7.19x3.14% 10TCr
11.78x0.38x6.03x3.43% 8.72TCr
25.42x6.26x16.33x-.--% 6.3TCr
59.3x3.2x7.82x2.27% 5.81TCr
16.41x3.33x6.52x0.55% 3.36TCr
12.14x3.85x5.94x5.13% 2.63TCr
12.47x4.49x7.88x3.98% 2.45TCr
Average 20.03x 3.61x 7.86x 3.05% 8.54TCr
Weighted average by Cap. 18.36x 3.45x 7.52x 3.41%

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