Financials Sandoz Group AG

Equities

SDZ

CH1243598427

Pharmaceuticals

Delayed Swiss Exchange Other stock markets 09:00:02 17/05/2024 pm IST			5-day change	1st Jan Change
31.99 ^CHF	-0.87%		-1.72%	+18.22%

08/05	AstraZeneca, Merck Sue to Protect Lynparza Cancer Drug Patents	MT
08/05	AstraZeneca, Merck Sue to Protect Lynparza Cancer Drug Patents	MT

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	13,854	15,146	-	-
Enterprise Value (EV) ¹	16,969	18,244	17,860	17,088
P/E ratio	179 x	20.4 x	15.2 x	11.7 x
Yield	1.4%	1.8%	2.36%	3.05%
Capitalization / Revenue	1.44 x	1.47 x	1.38 x	1.31 x
EV / Revenue	1.76 x	1.77 x	1.63 x	1.48 x
EV / EBITDA	9.74 x	9.01 x	7.72 x	6.5 x
EV / FCF	-72.5 x	36.6 x	18.8 x	14.5 x
FCF Yield	-1.38%	2.73%	5.32%	6.89%
Price to Book	1.6 x	1.64 x	1.53 x	1.41 x
Nbr of stocks (in thousands)	4,31,000	4,29,717	-	-
Reference price ²	32.14	35.25	35.25	35.25
Announcement Date	13/03/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	9,647	10,290	10,959	11,582
EBITDA ¹	-	1,743	2,026	2,313	2,628
EBIT ¹	-	1,488	1,760	2,045	2,353
Operating Margin	-	15.42%	17.11%	18.66%	20.31%
Earnings before Tax (EBT) ¹	1,102	130	986.6	1,384	1,780
Net income ¹	848	77	743.1	997.4	1,291
Net margin	-	0.8%	7.22%	9.1%	11.14%
EPS ²	-	0.1800	1.727	2.315	3.001
Free Cash Flow ¹	-	-234	498	950.5	1,177
FCF margin	-	-2.43%	4.84%	8.67%	10.16%
FCF Conversion (EBITDA)	-	-	24.58%	41.1%	44.78%
FCF Conversion (Net income)	-	-	67.01%	95.3%	91.18%
Dividend per Share ²	-	0.4500	0.6353	0.8331	1.073
Announcement Date	18/08/23	13/03/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1
Net sales ¹	-	2,186	2,543	4,880	2,492
EBITDA	-	-	-	751	-
EBIT	-	-	-	618	-
Operating Margin	-	-	-	12.66%	-
Earnings before Tax (EBT)	362	-	-	-	-
Net income	235	-	-	-	-
Net margin	-	-	-	-	-
EPS	-	-	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	05/09/23	24/10/23	13/03/24	13/03/24	07/05/24

¹USD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	3,115	3,098	2,714	1,943
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	1.787 x	1.53 x	1.174 x	0.7392 x
Free Cash Flow ¹	-	-234	498	951	1,177
ROE (net income / shareholders' equity)	-	11%	11.3%	13%	14.2%
ROA (Net income/ Total Assets)	-	5.15%	4.62%	5.68%	6.43%
Assets ¹	-	1,494	16,080	17,565	20,074
Book Value Per Share ²	-	20.10	21.40	23.00	25.10
Cash Flow per Share ²	-	0.8400	2.680	3.160	3.790
Capex ¹	-	586	522	495	474
Capex / Sales	-	6.07%	5.07%	4.52%	4.1%
Announcement Date	18/08/23	13/03/24	-	-	-

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 Sandoz Group AG

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

35.25 USD

Average target price

39.18 USD

Spread / Average Target

+11.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Generic Pharmaceuticals

	1st Jan change	Capi.
SANDOZ GROUP AG	+18.22%	15.15B
SUN PHARMACEUTICAL INDUSTRIES LTD.	+21.63%	44.12B
OTSUKA HOLDINGS CO., LTD.	+22.99%	22.71B
CIPLA LIMITED	+12.66%	13.61B
ZYDUS LIFESCIENCES LIMITED	+60.18%	13.34B
ONO PHARMACEUTICAL CO., LTD.	-8.35%	6.84B
THE MEDICINES COMPANY	-0.05%	6.79B
STADA ARZNEIMITTEL	-8.87%	5.73B
ASPEN PHARMACARE HOLDINGS LIMITED	+12.92%	5.63B
RICHTER GEDEON VEGYÉSZETI GYÁR NYILVÁNOSAN MUKÖDO RT.	+6.11%	4.77B

Generic Pharmaceuticals