Projected Income Statement: Nestlé S.A.

Forecast Balance Sheet: Nestlé S.A.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 26,901 31,338 32,579 47,625 49,390 53,702 52,277 50,940
Change - 16.49% 3.96% 46.18% 3.71% 8.73% -2.65% -2.56%
Announcement Date 13/02/20 18/02/21 17/02/22 16/02/23 22/02/24 - - -
1CHF in Million
Estimates

Cash Flow Forecast: Nestlé S.A.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 4,211 4,364 5,341 5,095 5,714 5,375 5,060 5,074
Change - 3.63% 22.39% -4.61% 12.15% -5.94% -5.86% 0.28%
Free Cash Flow (FCF) 1 11,639 10,013 8,523 6,570 10,403 9,707 10,038 10,813
Change - -13.97% -14.88% -22.91% 58.34% -6.69% 3.41% 7.72%
Announcement Date 13/02/20 18/02/21 17/02/22 16/02/23 22/02/24 - - -
1CHF in Million
Estimates

Forecast Financial Ratios: Nestlé S.A.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 21.58% 21.78% 21.31% 20.8% 20.98% 20.7% 19.99% 20.46%
EBIT Margin (%) 17.57% 17.67% 17.36% 17.05% 17.26% 16.92% 16.17% 16.58%
EBT Margin (%) 16.27% 16.51% 12.41% 11.95% 13.66% 14.55% 13.77% 14.57%
Net margin (%) 13.61% 14.5% 19.41% 9.82% 12.05% 12.16% 11.79% 12.22%
FCF margin (%) 12.57% 11.87% 9.79% 6.96% 11.19% 10.66% 10.79% 11.23%
FCF / Net Income (%) 92.37% 81.86% 50.42% 70.87% 92.81% 87.63% 91.56% 91.94%

Profitability

        
ROA 9.52% 9.71% 12.85% 6.76% 9.71% 9.25% 9.06% 9.44%
ROE 23.05% 25.03% 34.21% 19.49% 28.84% 34.01% 32.24% 31.65%

Financial Health

        
Leverage (Debt/EBITDA) 1.35x 1.71x 1.76x 2.42x 2.53x 2.85x 2.81x 2.59x
Debt / Free cash flow 2.31x 3.13x 3.82x 7.25x 4.75x 5.53x 5.21x 4.71x

Capital Intensity

        
CAPEX / Current Assets (%) 4.55% 5.17% 6.13% 5.4% 6.14% 5.9% 5.44% 5.27%
CAPEX / EBITDA (%) 21.08% 23.76% 28.78% 25.94% 29.29% 28.51% 27.22% 25.77%
CAPEX / FCF (%) 36.18% 43.58% 62.67% 77.55% 54.93% 55.37% 50.4% 46.92%

Items per share

        
Cash flow per share 1 5.402 5.046 4.967 4.395 6.025 5.41 5.675 5.898
Change - -6.59% -1.56% -11.52% 37.07% -10.2% 4.9% 3.93%
Dividend per Share 1 2.7 2.75 2.8 2.95 3 3.02 3.052 3.169
Change - 1.85% 1.82% 5.36% 1.69% 0.67% 1.04% 3.86%
Book Value Per Share 1 18.07 16.22 19.26 15.21 13.15 13.15 14.15 15.87
Change - -10.2% 18.69% -21% -13.58% 0.05% 7.59% 12.12%
EPS 1 4.3 4.29 6.06 3.42 4.23 4.246 4.264 4.602
Change - -0.23% 41.26% -43.56% 23.68% 0.37% 0.43% 7.93%
Nbr of stocks (in thousands) 28,87,479 27,85,049 27,50,456 27,59,592 25,88,141 25,71,306 25,71,306 25,71,306
Announcement Date 13/02/20 18/02/21 17/02/22 16/02/23 22/02/24 - - -
1CHF
Estimates
2024 *2025 *
P/E ratio 18.6x 18.3x
PBR 5.99x 5.57x
EV / Sales 2.81x 2.74x
Yield 3.83% 3.87%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
A
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
78.78CHF
Average target price
88.17CHF
Spread / Average Target
+11.92%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. NESN Stock
  4. Financials Nestlé S.A.