Company Valuation: Carrefour SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,343 12,040 11,582 9,105 10,050 10,843 - -
Change - -2.46% -3.81% -21.39% 10.38% 7.9% - -
Enterprise Value (EV) 1 19,538 20,911 19,681 18,428 19,463 19,263 18,738 18,081
Change - 7.03% -5.88% -6.37% 5.62% -1.03% -2.72% -3.5%
P/E 11.8x 8.69x 7.13x 13.6x 30.5x 10.8x 9.11x 8.73x
PBR 1.22x 1.04x 0.99x 0.82x 0.92x 0.97x 0.92x 0.88x
PEG - 0.3x 0.2x -0.2x -0.6x 0x 0.5x 2.01x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.11x 0.12x 0.13x 0.13x 0.13x
EV / Revenue 0.27x 0.26x 0.24x 0.22x 0.24x 0.23x 0.22x 0.21x
EV / EBITDA 4.29x 4.53x 4.32x 3.97x 4.32x 4.25x 3.96x 3.64x
EV / EBIT 8.6x 8.8x 8.69x 8.33x 9.02x 8.3x 7.56x 6.93x
EV / FCF 9.73x 8.95x 12.1x 12.6x 8.03x 10.8x 16.2x 16.4x
FCF Yield 10.3% 11.2% 8.24% 7.91% 12.5% 9.22% 6.17% 6.11%
Dividend per Share 2 0.52 0.56 0.87 0.92 0.97 1.05 1.071 1.107
Rate of return 3.23% 3.58% 5.25% 6.7% 6.82% 6.85% 6.99% 7.22%
EPS 2 1.362 1.8 2.324 1.013 0.4671 1.414 1.682 1.755
Distribution rate 38.2% 31.1% 37.4% 90.9% 208% 74.2% 63.6% 63.1%
Net sales 1 72,958 81,385 83,270 85,445 82,102 82,058 83,513 85,649
EBITDA 1 4,550 4,613 4,559 4,637 4,506 4,527 4,730 4,966
EBIT 1 2,272 2,377 2,264 2,213 2,158 2,322 2,479 2,610
Net income 1 1,072 1,348 1,659 723 319 1,022 1,187 1,218
Net Debt 1 7,195 8,871 8,099 9,323 9,413 8,419 7,895 7,238
Reference price 2 16.10 15.64 16.56 13.73 14.23 15.32 15.32 15.32
Nbr of stocks (in thousands) 766,438 769,845 699,183 663,135 706,234 707,563 - -
Announcement Date 2/16/22 2/14/23 2/20/24 2/19/25 2/17/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.24x1.17x17.87x0.96% 827B
24x1.15x10.01x0.99% 50.17B
15.37x0.53x7.79x3.34% 38.65B
15.51x0.62x11.55x2.86% 38.12B
20.4x0.88x5.87x6.2% 35.64B
11.76x0.33x6.18x2.54% 34.86B
26.19x0.82x9.47x2.81% 32.5B
11.74x0.46x5.77x4% 30.98B
16.23x0.58x6.63x2.99% 26.61B
Average 19.72x 0.73x 9.01x 2.96% 123.85B
Weighted average by Cap. 31.54x 1.05x 15.35x 1.51%

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