Company Valuation: Nestlé S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,50,518 2,95,663 2,52,370 1,92,539 2,02,576 2,02,280 - -
Change - -15.65% -14.64% -23.71% 5.21% -0.15% - -
Enterprise Value (EV) 1 3,83,097 3,43,288 3,01,760 2,48,544 2,53,958 2,52,860 2,51,518 2,49,628
Change - -10.39% -12.1% -17.63% 2.18% -0.43% -0.53% -0.75%
P/E ratio 21x 31.3x 23.1x 17.9x 22.4x 19.6x 18.2x 16.8x
PBR 6.62x 7.04x 7.42x 5.36x 6.17x 5.7x 5.32x 4.97x
PEG - -0.7x 1x -18.93x -1.4x 1.4x 2.46x 2.05x
Capitalization / Revenue 4.02x 3.13x 2.71x 2.11x 2.26x 2.28x 2.21x 2.14x
EV / Revenue 4.4x 3.64x 3.24x 2.72x 2.84x 2.85x 2.74x 2.64x
EV / EBITDA 20.6x 17.5x 15.5x 12.9x 14.1x 14x 13.2x 12.5x
EV / EBIT 25.3x 21.3x 18.8x 15.8x 17.6x 17.5x 16.5x 15.7x
EV / FCF 44.9x 52.3x 29x 23.3x 27.7x 25.5x 24.2x 21.6x
FCF Yield 2.22% 1.91% 3.45% 4.29% 3.6% 3.91% 4.14% 4.63%
Dividend per Share 2 2.8 2.95 3 3.05 3.1 3.139 3.193 3.288
Rate of return 2.2% 2.75% 3.08% 4.07% 3.94% 3.99% 4.06% 4.18%
EPS 2 6.06 3.42 4.23 4.19 3.51 4.018 4.315 4.667
Distribution rate 46.2% 86.3% 70.9% 72.8% 88.3% 78.1% 74% 70.4%
Net sales 1 87,088 94,424 92,998 91,354 89,490 88,726 91,718 94,543
EBITDA 1 18,559 19,644 19,511 19,286 18,022 18,059 18,990 19,904
EBIT 1 15,119 16,103 16,053 15,704 14,389 14,411 15,225 15,947
Net income 1 16,905 9,270 11,209 10,884 9,033 10,375 11,117 11,996
Net Debt 1 32,579 47,625 49,390 56,005 51,382 50,580 49,238 47,348
Reference price 2 127.44 107.14 97.51 74.88 78.74 78.64 78.64 78.64
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 ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.57x2.85x14x3.99% 26TCr
21.91x2.49x14.64x3.34% 7.94TCr
16.84x1.73x9.75x3.68% 4.73TCr
23.87x3.5x14.22x3.02% 3.87TCr
17.05x0.52x10.08x2.67% 3.74TCr
37.83x3.28x18.3x0.94% 3.05TCr
82.99x12.07x53.88x0.99% 2.84TCr
11.12x1.85x9.13x6.82% 2.79TCr
13.78x0.4x9.08x2.38% 2.33TCr
Average 27.22x 3.19x 17.01x 3.09% 6.33TCr
Weighted average by Cap. 23.28x 2.93x 15.27x 3.48%

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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