Company Valuation: Emmi AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,756 4,189 4,874 3,937 3,932 4,644 - -
Change - -27.23% 16.35% -19.21% -0.14% 18.1% - -
Enterprise Value (EV) 1 6,158 4,679 7,975 4,961 4,684 5,388 5,235 5,070
Change - -24.03% 70.45% -37.79% -5.59% 15.04% -2.84% -3.15%
P/E 26.6x 22.9x 26.2x 17.9x 17.3x 19.4x 18x 16.8x
PBR 5.32x 3.58x 3.77x 3.96x 3.64x 3.6x 3.18x 2.82x
PEG - -1.5x 12.77x 1x 5.65x 3.46x 2.41x 2.37x
Capitalization / Revenue 1.47x 0.99x 1.15x 0.91x 0.83x 0.97x 0.94x 0.92x
EV / Revenue 1.57x 1.11x 1.88x 1.14x 0.99x 1.12x 1.06x 1x
EV / EBITDA 15.6x 12.3x 21.2x 11.5x 9.52x 10.6x 9.95x 9.21x
EV / EBIT 21.7x 18.5x 30.9x 16.4x 14x 15.6x 14.4x 13.2x
EV / FCF 60.1x 579x 35.7x 17.5x 20x 22.5x 20.2x 18.3x
FCF Yield 1.66% 0.17% 2.8% 5.7% 5.01% 4.45% 4.96% 5.46%
Dividend per Share 2 14 14.5 15.5 16.5 17.5 18.27 19.36 20.42
Rate of return 1.3% 1.85% 1.7% 2.24% 2.38% 2.1% 2.23% 2.35%
EPS 2 40.51 34.12 34.82 41.18 42.44 44.82 48.17 51.57
Distribution rate 34.6% 42.5% 44.5% 40.1% 41.2% 40.8% 40.2% 39.6%
Net sales 1 3,912 4,230 4,242 4,349 4,746 4,802 4,919 5,046
EBITDA 1 394.7 379.3 375.8 430.6 492.3 506.4 526.4 550.3
EBIT 1 284.1 253 258.2 302.7 334.6 345.3 363.1 383.9
Net income 1 216.7 182.5 186.3 220.3 227.1 239.8 257.7 276
Net Debt 1 401.9 489.8 3,101 1,024 751.7 744.6 591.3 426.2
Reference price 2 1,076.00 783.00 911.00 736.00 735.00 868.00 868.00 868.00
Nbr of stocks (in thousands) 5,350 5,350 5,350 5,350 5,350 5,350 - -
Announcement Date 3/4/22 3/1/23 2/29/24 2/26/25 2/27/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.37x1.12x10.64x2.1% 5.72B
13.05x1.54x10.53x5.92% 23.92B
20.58x1.66x12.63x1.84% 6.39B
12.94x1.66x8.22x7.15% 4.92B
38.53x2.66x18.45x7.29% 3.52B
56.79x2.47x20.68x0.76% 2.29B
15.14x - - 3.42% 2.02B
Average 25.20x 1.85x 13.53x 4.07% 6.97B
Weighted average by Cap. 18.74x 1.65x 11.68x 4.82%

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