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 95,517 - -
Change - 27.77% -13.85% -26.5% 19.17% 49.02% - -
Enterprise Value (EV) 1 97,884 1,11,797 1,03,497 90,192 1,03,501 1,31,679 1,28,628 1,25,788
Change - 14.21% -7.42% -12.86% 14.76% 27.22% -2.32% -2.21%
P/E 13.4x 5x 17.7x -34x 182x 13.2x 13.4x 13.3x
PBR 1.82x 1.89x 1.69x 1.2x 1.68x 2.34x 2.21x 2.02x
PEG - 0x -0.2x 0x -1x 0x -8.47x 20.55x
Capitalization / Revenue 0.33x 0.33x 0.34x 0.23x 0.26x 0.29x 0.33x 0.34x
EV / Revenue 0.48x 0.44x 0.48x 0.39x 0.42x 0.4x 0.45x 0.44x
EV / EBITDA 4.59x 3.28x 6.05x 6.28x 7.67x 6.54x 6.28x 6.21x
EV / EBIT 6.75x 4.19x 9.96x 13x 17.3x 9.74x 9.64x 9.71x
EV / FCF 18.7x 11.8x 15.8x 20.3x -357x 23.3x 15.7x 18.6x
FCF Yield 5.36% 8.48% 6.33% 4.93% -0.28% 4.28% 6.37% 5.39%
Dividend per Share 2 0.26 0.44 0.13 0.1 0.1 0.2556 0.2649 0.3045
Rate of return 5.12% 6.61% 2.16% 2.26% 1.83% 3.14% 3.26% 3.74%
EPS 2 0.38 1.33 0.34 -0.13 0.03 0.6155 0.6057 0.6096
Distribution rate 68.4% 33.1% 38.2% -76.9% 333% 41.5% 43.7% 49.9%
Net sales 1 2,03,751 2,55,984 2,17,829 2,30,944 2,47,535 3,26,327 2,85,769 2,83,241
EBITDA 1 21,323 34,060 17,102 14,358 13,500 20,143 20,486 20,272
EBIT 1 14,495 26,657 10,392 6,938 5,978 13,518 13,338 12,955
Net income 1 4,974 17,320 4,280 -1,634 400 7,271 7,164 7,178
Net Debt 1 31,400 26,854 30,316 36,405 39,405 36,162 33,110 30,271
Reference price 2 5.077 6.656 6.013 4.424 5.472 8.138 8.138 8.138
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.($)
13.22x0.4x6.54x3.14% 9.55TCr
18.6x4.4x7.91x3.12% 25TCr
12.36x3.05x6.62x4.76% 18TCr
16.72x4.73x7.81x2.88% 11TCr
28.77x7.1x18.66x-.--% 7.28TCr
54.74x3.36x8.27x1.13% 6.15TCr
16.58x3.36x6.65x0.55% 3.49TCr
14.14x4.6x7x4.1% 3.13TCr
14.13x5.11x9.05x3.62% 2.78TCr
21.21x4.92x9.03x0.29% 2.34TCr
Average 21.05x 4.10x 8.75x 2.36% 8.79TCr
Weighted average by Cap. 19.57x 3.88x 8.38x 2.9%

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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