Projected Income Statement: GSK plc

Forecast Balance Sheet: GSK plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 19,838 17,197 15,040 13,095 14,453 12,285 9,405 7,186
Change - -13.31% -12.54% -12.93% 10.37% -15% -23.44% -23.59%
Announcement Date 09/02/22 01/02/23 31/01/24 05/02/25 04/02/26 - - -
1GBP in Million
Estimates

Cash Flow Forecast: GSK plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,172 1,143 1,314 1,334 1,324 1,714 1,560 1,613
Change - -2.47% 14.96% 1.52% -0.75% 29.47% -8.97% 3.35%
Free Cash Flow (FCF) 1 4,437 6,260 5,454 5,220 6,417 5,684 6,065 6,644
Change - 41.09% -12.88% -4.29% 22.93% -11.43% 6.71% 9.56%
Announcement Date 09/02/22 01/02/23 31/01/24 05/02/25 04/02/26 - - -
1GBP in Million
Estimates

Forecast Financial Ratios: GSK plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 33.21% 35.63% 38.36% 34.08% 34.52% 34.04% 34.54% 34.22%
EBIT Margin (%) 25.81% 27.8% 28.97% 29.16% 29.95% 30.31% 31.16% 31.72%
EBT Margin (%) 15.95% 19.19% 19.99% 11.08% 22.66% 23.53% 25.48% 26.78%
Net margin (%) 12.85% 51% 16.25% 8.21% 17.5% 18.67% 19.01% 19.01%
FCF margin (%) 13.01% 21.35% 17.98% 16.64% 19.64% 16.83% 17.13% 18.23%
FCF / Net Income (%) 101.19% 41.86% 110.67% 202.72% 112.26% 90.18% 90.1% 95.91%

Profitability

        
ROA 5.5% 8.08% 10.55% 10.97% 9.48% 10.74% 10.78% 10.64%
ROE 38.22% 43.85% 52.48% 48.09% 46.39% 39.72% 35.56% 31.15%

Financial Health

        
Leverage (Debt/EBITDA) 1.75x 1.65x 1.29x 1.22x 1.28x 1.07x 0.77x 0.58x
Debt / Free cash flow 4.47x 2.75x 2.76x 2.51x 2.25x 2.16x 1.55x 1.08x

Capital Intensity

        
CAPEX / Current Assets (%) 3.44% 3.9% 4.33% 4.25% 4.05% 5.08% 4.41% 4.43%
CAPEX / EBITDA (%) 10.34% 10.94% 11.29% 12.48% 11.74% 14.91% 12.76% 12.93%
CAPEX / FCF (%) 26.41% 18.26% 24.09% 25.56% 20.63% 30.16% 25.73% 24.27%

Items per share

        
Cash flow per share 1 1.962 1.813 1.67 1.608 1.88 1.897 2.03 2.123
Change - -7.63% -7.86% -3.75% 16.96% 0.88% 7.02% 4.61%
Dividend per Share 1 1 0.6125 0.58 0.61 0.66 0.6987 0.7322 0.7608
Change - -38.75% -5.31% 5.17% 8.2% 5.87% 4.79% 3.91%
Book Value Per Share 1 3.758 2.627 3.294 3.353 - 4.595 5.603 6.419
Change - -30.09% 25.38% 1.8% - - 21.93% 14.57%
EPS 1 1.082 3.662 1.216 0.632 1.411 1.57 1.687 1.73
Change - 238.29% -66.79% -48.03% 123.26% 11.29% 7.42% 2.56%
Nbr of stocks (in thousands) 40,06,383 40,60,999 40,76,145 40,80,519 40,12,126 39,91,951 39,91,951 39,91,951
Announcement Date 09/02/22 01/02/23 31/01/24 05/02/25 04/02/26 - - -
1GBP
Estimates
2026 *2027 *
P/E ratio 12.1x 11.3x
PBR 4.14x 3.39x
EV / Sales 2.61x 2.41x
Yield 3.67% 3.85%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
22
Last Close Price
19.02GBP
Average target price
20.32GBP
Spread / Average Target
+6.83%

Quarterly revenue - Rate of surprise