Company Valuation: Lindt

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,923 21,980 23,697 23,214 26,775 19,663 - -
Change - -26.54% 7.81% -2.04% 15.34% -26.56% - -
Enterprise Value (EV) 1 30,217 22,552 24,640 23,863 27,872 20,685 20,620 20,571
Change - -25.37% 9.26% -3.15% 16.8% -25.78% -0.32% -0.24%
P/E 60.5x 39.8x 35.7x 34.5x 37.1x 27.4x 25.6x 23.8x
PBR 5.6x 5.09x 5.63x 4.79x 5.44x 3.94x 3.77x 3.59x
PEG - 2.2x 1.8x 25.55x 4.5x 28.93x 3.52x 3.23x
Capitalization / Revenue 6.53x 4.42x 4.56x 4.25x 4.53x 3.3x 3.18x 3.02x
EV / Revenue 6.59x 4.54x 4.74x 4.36x 4.71x 3.47x 3.33x 3.16x
EV / EBITDA 32.8x 22.2x 22.5x 20.2x 21.9x 16x 15.1x 14.2x
EV / EBIT 46.9x 30.3x 30.3x 27x 28.7x 21x 19.7x 18.5x
EV / FCF 51.6x 42.9x 51.6x 27.4x 148x 25.3x 27.2x 26.8x
FCF Yield 1.94% 2.33% 1.94% 3.65% 0.67% 3.95% 3.68% 3.74%
Dividend per Share 2 1,200 1,300 1,400 1,500 1,800 1,866 1,990 2,099
Rate of return 0.98% 1.37% 1.37% 1.5% 1.55% 2.15% 2.29% 2.42%
EPS 2 2,019 2,387 2,859 2,898 3,137 3,167 3,397 3,648
Distribution rate 59.4% 54.5% 49% 51.8% 57.4% 58.9% 58.6% 57.5%
Net sales 1 4,586 4,970 5,201 5,468 5,916 5,954 6,185 6,514
EBITDA 1 921.5 1,018 1,094 1,182 1,271 1,292 1,364 1,450
EBIT 1 644.9 744.6 813.1 884.2 971 984.1 1,045 1,114
Net income 1 490.5 569.7 671.4 672.3 727.2 728.2 772 823.6
Net Debt 1 294.7 571.3 943.3 649.4 1,096 1,023 957.2 908.6
Reference price 2 1,22,200.00 95,000.00 1,02,000.00 1,00,000.00 1,16,400.00 86,900.00 86,900.00 86,900.00
Nbr of stocks (in thousands) 241 232 233 231 230 229.2 - -
Announcement Date 08/03/22 07/03/23 05/03/24 04/03/25 10/03/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.44x3.47x16.01x2.15% 2.39TCr
21.67x2.92x14.57x3.81% 26TCr
19.88x2.54x15.12x3.22% 8.16TCr
16.66x1.72x9.75x3.8% 4.46TCr
15.28x0.54x9.78x2.52% 3.98TCr
20.68x3.15x12.8x3.38% 3.43TCr
36.14x3.12x18.19x1.03% 3.19TCr
26.13x5.5x17.54x3.21% 2.97TCr
-8.35x1.83x9.13x6.77% 2.81TCr
Average 19.50x 2.76x 13.65x 3.32% 6.35TCr
Weighted average by Cap. 20.33x 2.73x 13.98x 3.5%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lindt

Historical PBR trend

Valuation ratios - PBR - Lindt

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lindt

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lindt


Year-on-year evolution of the Yield

Valuation ratios - Yield - Lindt