Company Valuation: H. Lundbeck A/S

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 25,433 31,719 39,416 41,398 38,817 - -
Change - 24.72% 24.27% 5.03% -6.23% - -
Enterprise Value (EV) 1 27,464 31,008 51,598 49,619 43,033 38,737 34,867
Change - 12.91% 66.4% -3.84% -13.27% -9.98% -9.99%
P/E ratio 13.5x 14.2x 13x 13.4x 9.3x 9.22x 9.87x
PBR 1.24x 1.47x 1.64x 1.72x 1.38x 1.23x 1.14x
PEG - 0.7x 0.3x 8.5x 0.3x 10.05x -1.49x
Capitalization / Revenue 1.39x 1.59x 1.79x 1.68x 1.53x 1.52x 1.56x
EV / Revenue 1.51x 1.56x 2.34x 2.01x 1.7x 1.52x 1.4x
EV / EBITDA 5.89x 5.49x 8.13x 6.3x 5.4x 4.85x 4.59x
EV / EBIT 9.63x 9.71x 15.8x 9.41x 7.12x 6.42x 6.18x
EV / FCF 10.2x 8.66x 18.7x 10.2x 8.11x 6.62x 6.43x
FCF Yield 9.83% 11.5% 5.35% 9.8% 12.3% 15.1% 15.6%
Dividend per Share 2 0.58 0.7 0.95 1.15 1.4 1.423 1.381
Rate of return 2.23% 2.14% 2.3% 2.66% 3.47% 3.52% 3.42%
EPS 2 1.93 2.31 3.17 3.22 4.34 4.38 4.09
Distribution rate 30.1% 30.3% 30% 35.7% 32.3% 32.5% 33.8%
Net sales 1 18,246 19,912 22,004 24,630 25,374 25,516 24,943
EBITDA 1 4,663 5,652 6,347 7,881 7,969 7,991 7,598
EBIT 1 2,852 3,195 3,270 5,275 6,047 6,031 5,643
Net income 1 1,916 2,290 3,143 3,192 4,365 4,596 4,217
Net Debt 1 2,031 -711 12,182 8,221 4,215 -80.41 -3,950
Reference price 2 26.05 32.76 41.32 43.16 40.38 40.38 40.38
Nbr of stocks (in thousands) 9,92,840 9,92,840 9,92,011 9,91,227 9,91,227 - -
Announcement Date 07/02/23 07/02/24 05/02/25 04/02/26 - - -
1DKK in Million2DKK
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.3x1.7x5.4x3.47% 609.47Cr
24.58x0.26x15.93x0.35% 11TCr
26.23x0.22x14.15x0.96% 5.07TCr
42.96x2.9x26.95x1.47% 2.19TCr
16.37x1.32x10.39x1.9% 923.73Cr
11.83x0.22x5.72x2.5% 841.71Cr
7.72x0.1x2.92x3.9% 833.57Cr
25.21x1.24x15.49x2.78% 577.3Cr
10.16x0.14x4.83x4.16% 391.44Cr
14.1x - - 2.21% 372.14Cr
Average 18.85x 0.90x 11.31x 2.37% 2.24TCr
Weighted average by Cap. 24.48x 0.61x 15.00x 1.12%

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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