Company Valuation: Philip Morris CR

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 41,949 41,071 44,201 45,903 42,883 46,068
Change - -2.09% 7.62% 3.85% -6.58% 7.43%
Enterprise Value (EV) 1 35,866 33,172 35,215 38,552 35,691 37,515
Change - -7.51% 6.16% 9.48% -7.42% 5.11%
P/E ratio 10.4x 11.6x 12.6x 12.6x 12.8x 13.8x
PBR 4.45x 4.74x 5.07x 5.24x 5.04x 5.4x
PEG - -0.9x -44.43x 3.72x -1.59x 461.33x
Capitalization / Revenue 2.45x 2.3x 2.34x 2.19x 2.08x 2.13x
EV / Revenue 2.1x 1.85x 1.87x 1.84x 1.74x 1.74x
EV / EBITDA 6.31x 6.27x 7.08x 7.91x 8.05x 8.27x
EV / EBIT 7.2x 7.27x 8.13x 8.91x 9.15x 9.39x
EV / FCF 8.84x 6.25x 9.36x 36.8x 13.4x 9.54x
FCF Yield 11.3% 16% 10.7% 2.72% 7.47% 10.5%
Dividend per Share 2 1,560 1,260 1,310 1,310 1,220 -
Rate of return 10.2% 8.42% 8.14% 7.83% 7.81% -
EPS 2 1,464 1,285 1,281 1,324 1,218 1,218
Distribution rate 107% 98.1% 102% 98.9% 100% -
Net sales 1 17,092 17,883 18,867 20,948 20,570 21,608
EBITDA 1 5,684 5,291 4,974 4,871 4,435 4,538
EBIT 1 4,981 4,562 4,333 4,327 3,900 3,994
Net income 1 4,020 3,526 3,516 3,635 3,343 3,344
Net Debt 1 -6,083 -7,899 -8,986 -7,351 -7,192 -8,553
Reference price 2 15,280.00 14,960.00 16,100.00 16,720.00 15,620.00 16,780.00
Nbr of stocks (in thousands) 2,745 2,745 2,745 2,745 2,745 2,745
Announcement Date 24/03/20 31/03/21 29/03/22 03/04/23 26/03/24 28/04/25
1CZK in Million2CZK
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 225.54Cr
24.89x7.78x17.75x3.1% 28TCr
11.5x4.45x9.26x6.45% 11TCr
10.45x3.25x7.48x5.59% 3.16TCr
74.83x8.08x49.68x0.53% 1.59TCr
37.15x - - - 508.79Cr
23.44x - - - 129.35Cr
Average 30.38x 5.89x 21.04x 3.92% 6.4TCr
Weighted average by Cap. 22.42x 6.62x 16.00x 4.04%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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