Company Valuation: Gedeon Richter

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,619,625 1,542,290 1,627,029 1,893,161 1,799,226 2,130,290 - -
Change - -4.77% 5.49% 16.36% -4.96% 18.4% - -
Enterprise Value (EV) 1 1,559,769 1,395,557 1,546,536 1,782,343 1,588,618 1,815,700 1,708,900 1,590,286
Change - -10.53% 10.82% 15.25% -10.87% 14.29% -5.88% -6.94%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 8.16x 7.48x 6.83x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.41x 1.28x 1.16x
PEG - 0.9x 3.41x 0.2x -2.82x 0.6x 0.83x 0.72x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.24x 2.08x 1.94x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 1.91x 1.67x 1.45x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5x 4.38x 3.75x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.05x 5.23x 4.52x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 8.54x 7.39x 6.32x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11.7% 13.5% 15.8%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.31% 5.69% 6.28%
EPS 2 751 835 860 1,307 1,271 1,432 1,561 1,709
Distribution rate 30% 46.7% - - - 43.3% 42.6% 42.9%
Net sales 1 630,595 802,755 805,158 857,545 928,962 951,724 1,023,546 1,098,192
EBITDA 1 176,123 196,480 240,625 310,678 353,314 363,366 389,794 424,113
EBIT 1 135,832 153,555 189,817 261,157 292,851 299,996 326,732 351,898
Net income 1 139,626 155,581 158,850 239,244 232,335 259,474 286,154 313,070
Net Debt 1 -59,856 -146,733 -80,493 -110,818 -210,608 -314,590 -421,390 -540,005
Reference price 2 8,725.00 8,300.00 8,750.00 10,400.00 9,865.00 11,680.00 11,680.00 11,680.00
Nbr of stocks (in thousands) 185,630 185,818 185,946 182,035 182,385 182,388 - -
Announcement Date 3/2/22 2/28/23 2/29/24 4/7/25 2/27/26 - - -
1HUF in Million2HUF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.64x7.13x24.31x0.82% 46.46B
18x2.02x9.57x1.34% 35.42B
26.16x3.21x16.43x0.92% 11.62B
23.56x4.11x15.32x0.75% 11.47B
19.71x3.4x12.36x3.46% 9.13B
15.01x1.97x7.47x3.57% 6.65B
32.7x3.71x15.8x0.24% 6.45B
40.51x - - - 5.01B
Average 26.66x 3.65x 14.47x 1.59% 16.53B
Weighted average by Cap. 27.64x 4.37x 16.50x 1.27%

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

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