Projected Income Statement: Vestas Wind Systems A/S

Forecast Balance Sheet: Vestas Wind Systems A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -1,200 49 69 -706 -1,174 -1,637 -2,367 -3,250
Change - 104.08% 40.82% -1,123.19% -66.29% -39.44% -44.59% -37.3%
Announcement Date 10/02/22 08/02/23 07/02/24 05/02/25 05/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Vestas Wind Systems A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 876 819 892 1,155 1,278 1,200 1,170 1,207
Change - -6.51% 8.91% 29.48% 10.65% -6.08% -2.55% 3.14%
Free Cash Flow (FCF) 1 57 -874 245 991 1,465 885.5 1,255 1,411
Change - -1,633.33% 128.03% 304.49% 47.83% -39.56% 41.67% 12.44%
Announcement Date 10/02/22 08/02/23 07/02/24 05/02/25 05/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Vestas Wind Systems A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 8.87% -0.43% 6.68% 9.28% 11.18% 12.29% 13.3% 13.93%
EBIT Margin (%) 2.96% -7.95% 1.5% 4.28% 5.67% 7.14% 8.37% 9.01%
EBT Margin (%) 1.65% -11.71% 0.66% 4.08% 5.52% 6.97% 8.2% 8.82%
Net margin (%) 1.07% -10.85% 0.5% 2.89% 4.13% 5.16% 6.12% 6.53%
FCF margin (%) 0.37% -6.03% 1.59% 5.73% 7.78% 4.18% 5.54% 5.94%
FCF / Net Income (%) 34.13% 55.6% 318.18% 198.6% 188.3% 80.95% 90.52% 91.01%

Profitability

        
ROA 0.88% -7.91% 0.36% 2.12% 3.09% 3.7% 4.4% 4.63%
ROE 3.6% -43.9% 2.6% 15.22% 21.04% 25.57% 26.28% 24.25%

Financial Health

        
Leverage (Debt/EBITDA) - -0.78x 0.07x - - - - -
Debt / Free cash flow - -0.06x 0.28x - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 5.62% 5.65% 5.8% 6.68% 6.79% 5.67% 5.16% 5.08%
CAPEX / EBITDA (%) 63.39% -1,300% 86.77% 71.96% 60.71% 46.08% 38.82% 36.46%
CAPEX / FCF (%) 1,536.84% -93.71% 364.08% 116.55% 87.24% 135.56% 93.25% 85.53%

Items per share

        
Cash flow per share 1 0.9881 -0.1938 1.017 2.309 2.277 2.479 2.65 2.818
Change - -119.61% 624.77% 127% -1.36% 8.86% 6.9% 6.33%
Dividend per Share 1 0.05 - - 0.1 0.1 0.2099 0.2737 0.3169
Change - - - - 0% 109.9% 30.38% 15.79%
Book Value Per Share 1 4.7 3 3 3.494 3.904 4.653 5.621 6.749
Change - -36.17% 0% 16.45% 11.76% 19.18% 20.81% 20.07%
EPS 1 0.17 -1.56 0.08 0.49 0.77 1.1 1.43 1.633
Change - -1,017.65% 105.13% 512.5% 57.14% 42.92% 29.93% 14.24%
Nbr of stocks (in thousands) 10,04,401 10,05,144 10,09,189 10,09,046 9,90,417 9,85,516 9,85,516 9,85,516
Announcement Date 10/02/22 08/02/23 07/02/24 05/02/25 05/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 23.2x 17.9x
PBR 5.49x 4.55x
EV / Sales 1.11x 1.01x
Yield 0.82% 1.07%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
25.55EUR
Average target price
25.26EUR
Spread / Average Target
-1.12%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. VWS Stock
  4. Financials Vestas Wind Systems A/S