Financials Procter & Gamble Company BOERSE MUENCHEN

Equities

PRG

US7427181091

Personal Products

Real-time BOERSE MUENCHEN Other stock markets 11:13:15 16/07/2024 pm IST			5-day change	1st Jan Change
152.7 ^EUR	+1.17%		-1.80%	+14.85%

12/07	UBS Raises Price Target on Procter & Gamble to $191 From $183, Maintains Buy Rating	MT
10/07	Citigroup Adjusts Procter & Gamble's Price Target to $190 From $177	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,75,038	2,96,013	3,30,340	3,44,995	3,57,647	3,88,431	-	-
Enterprise Value (EV) ¹	3,00,891	3,14,552	3,52,040	3,69,274	3,84,008	4,14,435	4,12,305	4,09,548
P/E ratio	76.7 x	24.1 x	24.5 x	24.7 x	25.7 x	26.8 x	23.7 x	22.2 x
Yield	2.64%	2.53%	2.4%	2.45%	2.43%	2.32%	2.46%	2.57%
Capitalization / Revenue	4.06 x	4.17 x	4.34 x	4.3 x	4.36 x	4.61 x	4.46 x	4.29 x
EV / Revenue	4.45 x	4.43 x	4.62 x	4.61 x	4.68 x	4.91 x	4.73 x	4.52 x
EV / EBITDA	17.6 x	16.4 x	17 x	17.9 x	18.4 x	18 x	16.8 x	15.7 x
EV / FCF	25.3 x	22 x	22.6 x	27.2 x	27.9 x	25.5 x	24.5 x	22.9 x
FCF Yield	3.95%	4.56%	4.43%	3.67%	3.59%	3.92%	4.09%	4.36%
Price to Book	5.76 x	6.32 x	7.03 x	7.35 x	-	8.06 x	7.52 x	7 x
Nbr of stocks (in thousands)	25,08,330	24,75,643	24,48,233	23,99,297	23,56,969	23,60,135	-	-
Reference price ²	109.6	119.6	134.9	143.8	151.7	164.6	164.6	164.6
Announcement Date	30/07/19	30/07/20	30/07/21	29/07/22	28/07/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	67,684	70,950	76,118	80,187	82,006	84,341	87,166	90,607
EBITDA ¹	17,060	19,156	20,721	20,620	20,848	23,082	24,552	26,036
EBIT ¹	14,236	16,143	17,986	17,813	18,134	20,055	21,452	22,785
Operating Margin	21.03%	22.75%	23.63%	22.21%	22.11%	23.78%	24.61%	25.15%
Earnings before Tax (EBT) ¹	6,069	15,834	17,615	17,995	18,353	19,697	21,507	22,680
Net income ¹	3,897	13,027	14,306	14,742	14,653	14,956	17,000	17,880
Net margin	5.76%	18.36%	18.79%	18.38%	17.87%	17.73%	19.5%	19.73%
EPS ²	1.430	4.960	5.500	5.810	5.900	6.142	6.936	7.416
Free Cash Flow ¹	11,895	14,330	15,584	13,567	13,786	16,258	16,858	17,866
FCF margin	17.57%	20.2%	20.47%	16.92%	16.81%	19.28%	19.34%	19.72%
FCF Conversion (EBITDA)	69.72%	74.81%	75.21%	65.8%	66.13%	70.44%	68.66%	68.62%
FCF Conversion (Net income)	305.23%	110%	108.93%	92.03%	94.08%	108.71%	99.16%	99.92%
Dividend per Share ²	2.898	3.028	3.242	3.523	3.681	3.819	4.055	4.230
Announcement Date	30/07/19	30/07/20	30/07/21	29/07/22	28/07/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	20,953	19,381	19,515	20,612	20,773	20,068	20,553	21,871	21,441	20,195	20,882	22,340	22,117	20,874	21,554
EBITDA ¹	5,852	4,714	4,320	5,602	5,438	4,940	4,868	6,469	6,514	5,183	4,986	6,764	6,844	5,549	5,410
EBIT ¹	5,168	4,024	3,598	4,939	4,785	4,248	4,162	5,767	5,793	4,471	4,238	5,995	6,068	4,788	4,578
Operating Margin	24.66%	20.76%	18.44%	23.96%	23.03%	21.17%	20.25%	26.37%	27.02%	22.14%	20.29%	26.84%	27.44%	22.94%	21.24%
Earnings before Tax (EBT) ¹	5,239	4,071	3,650	4,997	4,835	4,288	4,233	5,802	4,496	4,592	4,254	6,001	6,085	4,840	4,585
Net income ¹	4,223	3,355	3,052	3,939	3,933	3,397	3,384	4,521	3,468	3,754	3,397	4,745	4,818	3,825	3,637
Net margin	20.15%	17.31%	15.64%	19.11%	18.93%	16.93%	16.46%	20.67%	16.17%	18.59%	16.27%	21.24%	21.78%	18.33%	16.87%
EPS ²	1.660	1.330	1.210	1.570	1.590	1.370	1.370	1.830	1.400	1.520	1.372	1.921	1.968	1.557	1.495
Dividend per Share ²	0.8698	0.8698	0.9133	0.9133	0.9133	0.9133	0.9407	0.9407	0.9407	0.9407	1.006	0.9957	0.9958	0.9951	1.025
Announcement Date	19/01/22	20/04/22	29/07/22	19/10/22	19/01/23	21/04/23	28/07/23	18/10/23	23/01/24	19/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	25,853	18,539	21,700	24,279	26,361	26,004	23,874	21,117
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.515 x	0.9678 x	1.047 x	1.177 x	1.264 x	1.127 x	0.9724 x	0.8111 x
Free Cash Flow ¹	11,895	14,330	15,584	13,567	13,786	16,258	16,858	17,866
ROE (net income / shareholders' equity)	23.6%	27.6%	30.6%	31.5%	31.2%	32.9%	33.5%	33.6%
ROA (Net income/ Total Assets)	10.2%	11%	11.9%	12.5%	12.3%	13.1%	14.1%	14.4%
Assets ¹	38,292	1,17,898	1,20,004	1,18,257	1,19,019	1,13,876	1,20,650	1,24,379
Book Value Per Share ²	19.00	18.90	19.20	19.60	-	20.40	21.90	23.50
Cash Flow per Share ²	6.000	6.630	7.060	6.590	6.780	8.130	8.460	8.910
Capex ¹	3,347	3,073	2,787	3,156	3,062	3,430	3,722	3,829
Capex / Sales	4.95%	4.33%	3.66%	3.94%	3.73%	4.07%	4.27%	4.23%
Announcement Date	30/07/19	30/07/20	30/07/21	29/07/22	28/07/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Procter & Gamble Company

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

164.6 USD

Average target price

172.2 USD

Spread / Average Target

+4.64%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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