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 2,139,410 - -
Change - -4.77% 5.49% 16.36% -4.96% 18.91% - -
Enterprise Value (EV) 1 1,559,769 1,395,557 1,546,536 1,782,343 1,588,618 1,824,820 1,718,019 1,599,405
Change - -10.53% 10.82% 15.25% -10.87% 14.87% -5.85% -6.9%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 8.19x 7.52x 6.86x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.41x 1.28x 1.17x
PEG - 0.9x 3.41x 0.2x -2.82x 0.6x 0.84x 0.72x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.25x 2.09x 1.95x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 1.92x 1.68x 1.46x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.02x 4.41x 3.77x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.08x 5.26x 4.55x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 8.58x 7.43x 6.36x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11.6% 13.5% 15.7%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.29% 5.66% 6.25%
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 11,730.00 11,730.00 11,730.00
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.($)
37.92x7.19x24.5x0.82% 46.74B
17.48x1.96x9.26x1.38% 34.33B
26.09x3.2x16.38x0.92% 11.57B
23.48x4.1x15.27x0.76% 11.42B
19.63x3.39x12.31x3.48% 9.09B
33.6x3.82x16.27x0.24% 6.62B
15.23x1.9x6.52x3.48% 6.55B
40.51x - - - 5B
16.38x2.05x8.64x1.3% 4.16B
Average 25.59x 3.45x 13.64x 1.55% 15.05B
Weighted average by Cap. 27.41x 4.32x 16.29x 1.28%

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

-40%: Exceptional extension
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