Company Valuation: Nestlé S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,50,518 2,95,663 2,52,370 1,92,539 2,02,576 2,03,720 - -
Change - -15.65% -14.64% -23.71% 5.21% 0.57% - -
Enterprise Value (EV) 1 3,83,097 3,43,288 3,01,760 2,48,544 2,53,958 2,54,597 2,53,264 2,50,235
Change - -10.39% -12.1% -17.63% 2.18% 0.25% -0.52% -1.2%
P/E 21x 31.3x 23.1x 17.9x 22.4x 20.6x 18.1x 16.8x
PBR 6.62x 7.04x 7.42x 5.36x 6.17x 5.9x 5.47x 5.02x
PEG - -0.7x 1x -18.93x -1.4x 2.13x 1.4x 2.15x
Capitalization / Revenue 4.02x 3.13x 2.71x 2.11x 2.26x 2.27x 2.19x 2.12x
EV / Revenue 4.4x 3.64x 3.24x 2.72x 2.84x 2.84x 2.73x 2.61x
EV / EBITDA 20.6x 17.5x 15.5x 12.9x 14.1x 14.1x 13.2x 12.4x
EV / EBIT 25.3x 21.3x 18.8x 15.8x 17.6x 17.3x 16.2x 15.3x
EV / FCF 44.9x 52.3x 29x 23.3x 27.7x 25.9x 24.5x 21x
FCF Yield 2.22% 1.91% 3.45% 4.29% 3.6% 3.86% 4.08% 4.76%
Dividend per Share 2 2.8 2.95 3 3.05 3.1 3.137 3.203 3.304
Rate of return 2.2% 2.75% 3.08% 4.07% 3.94% 3.96% 4.04% 4.17%
EPS 2 6.06 3.42 4.23 4.19 3.51 3.85 4.366 4.708
Distribution rate 46.2% 86.3% 70.9% 72.8% 88.3% 81.5% 73.4% 70.2%
Net sales 1 87,088 94,424 92,998 91,354 89,490 89,712 92,889 95,986
EBITDA 1 18,559 19,644 19,511 19,286 18,022 17,996 19,206 20,172
EBIT 1 15,119 16,103 16,053 15,704 14,389 14,707 15,605 16,388
Net income 1 16,905 9,270 11,209 10,884 9,033 9,988 11,225 12,101
Net Debt 1 32,579 47,625 49,390 56,005 51,382 50,876 49,544 46,515
Reference price 2 127.44 107.14 97.51 74.88 78.74 79.20 79.20 79.20
Nbr of stocks (in thousands) 27,50,456 27,59,592 25,88,141 25,71,306 25,72,715 25,72,225 - -
Announcement Date 17/02/22 16/02/23 22/02/24 13/02/25 19/02/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.57x2.84x14.15x3.96% 25TCr
19.97x2.5x14.93x3.28% 8TCr
17.4x1.81x10.2x3.59% 4.88TCr
15.27x0.57x10.17x2.53% 3.97TCr
22.21x3.35x13.58x3.15% 3.69TCr
38.32x3.28x19.06x0.94% 3.31TCr
67.87x10.41x43.17x1.12% 2.95TCr
-105.67x1.89x9.37x6.45% 2.94TCr
11.66x0.38x8.65x2.52% 2.2TCr
Average 11.96x 3.00x 15.92x 3.06% 6.33TCr
Weighted average by Cap. 16.57x 2.85x 14.93x 3.43%

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