Company Valuation: Danone

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,530 30,830 37,646 41,915 49,156 37,800 - -
Change - -13.23% 22.11% 11.34% 17.28% -23.1% - -
Enterprise Value (EV) 1 46,030 40,937 47,867 50,516 57,587 46,777 45,874 45,438
Change - -11.06% 16.93% 5.53% 14% -18.77% -1.93% -0.95%
P/E 18.6x 33.3x 45.1x 20.8x 27.2x 15.8x 14.5x 13.6x
PBR 2.02x 1.76x 2.33x 2.59x 2.93x 2.14x 2.04x 1.95x
PEG - -0.7x -3.7x 0x -2.75x 0.5x 1.54x 2.03x
Capitalization / Revenue 1.46x 1.11x 1.36x 1.53x 1.8x 1.34x 1.28x 1.24x
EV / Revenue 1.9x 1.48x 1.73x 1.85x 2.11x 1.66x 1.56x 1.48x
EV / EBITDA 10x 7.81x 9.4x 10.7x 11.5x 9.43x 8.74x 8.26x
EV / EBIT 13.8x 12.1x 13.8x 14.2x 15.7x 12.2x 11.2x 10.5x
EV / FCF 18.9x 19.6x 18.2x 16.8x 20.6x 18.7x 16.4x 15.4x
FCF Yield 5.28% 5.11% 5.5% 5.94% 4.86% 5.35% 6.1% 6.49%
Dividend per Share 2 1.94 2 2.1 2.15 2.25 2.352 2.501 2.664
Rate of return 3.55% 4.06% 3.58% 3.3% 2.93% 3.95% 4.2% 4.48%
EPS 2 2.94 1.48 1.3 3.13 2.82 3.761 4.115 4.39
Distribution rate 66% 135% 162% 68.7% 79.8% 62.6% 60.8% 60.7%
Net sales 1 24,281 27,661 27,619 27,376 27,283 28,204 29,493 30,601
EBITDA 1 4,602 5,240 5,092 4,726 5,020 4,962 5,248 5,501
EBIT 1 3,337 3,377 3,481 3,558 3,665 3,835 4,089 4,313
Net income 1 1,924 959 881 2,021 1,825 2,367 2,606 2,787
Net Debt 1 10,500 10,107 10,221 8,601 8,431 8,977 8,074 7,638
Reference price 2 54.59 49.23 58.68 65.12 76.78 59.50 59.50 59.50
Nbr of stocks (in thousands) 650,849 626,246 641,543 643,653 640,218 643,298 - -
Announcement Date 2/23/22 2/22/23 2/22/24 2/26/25 2/20/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.24x2.77x13.8x4.08% 238B
18.72x2.43x14.47x3.42% 76.81B
15.82x1.67x9.42x3.95% 43.52B
14.89x0.53x9.56x2.59% 38.74B
19.9x3.04x12.35x3.51% 33.03B
34.27x2.97x17.31x1.08% 30.36B
-8.3x1.82x9.09x6.81% 27.94B
62.38x9.57x39.68x1.22% 27.05B
11.12x0.37x8.41x2.64% 20.95B
Average 21.00x 2.80x 14.90x 3.26% 59.62B
Weighted average by Cap. 20.33x 2.70x 14.20x 3.6%

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