Financials Kraft Heinz Sao Paulo

Equities

KHCB34

BRKHCBBDR007

Food Processing

Delayed Sao Paulo 13:28:07 2024-05-16 EDT 5-day change 1st Jan Change
46.59 BRL +0.74% Intraday chart for Kraft Heinz +0.76% +4.46%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 38,723 42,388 43,649 49,867 45,357 43,533 - -
Enterprise Value (EV) 1 65,688 67,277 62,019 68,897 63,989 61,585 60,201 58,730
P/E ratio 20.1 x 120 x 43.5 x 21.3 x 16 x 11.9 x 11.4 x 10.8 x
Yield 5.05% 4.61% 4.49% 3.93% - 4.49% 4.51% 4.6%
Capitalization / Revenue 1.55 x 1.62 x 1.68 x 1.88 x 1.7 x 1.63 x 1.6 x 1.57 x
EV / Revenue 2.63 x 2.57 x 2.38 x 2.6 x 2.4 x 2.31 x 2.21 x 2.12 x
EV / EBITDA 10.8 x 10.1 x 9.73 x 11.5 x 10.1 x 9.52 x 8.97 x 8.55 x
EV / FCF 23.6 x 15.5 x 13.9 x 44.4 x 21.6 x 17.3 x 15.3 x 13.8 x
FCF Yield 4.24% 6.44% 7.19% 2.25% 4.63% 5.78% 6.56% 7.22%
Price to Book 0.75 x 0.85 x 0.89 x 1.01 x - 0.86 x 0.83 x 0.8 x
Nbr of stocks (in thousands) 1,221,161 1,222,625 1,224,042 1,224,930 1,226,539 1,214,298 - -
Reference price 2 31.71 34.67 35.66 40.71 36.98 35.85 35.85 35.85
Announcement Date 2/13/20 2/11/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 24,977 26,185 26,042 26,485 26,640 26,710 27,254 27,734
EBITDA 1 6,064 6,669 6,371 6,003 6,307 6,468 6,712 6,873
EBIT 1 5,033 5,558 5,264 4,933 5,243 5,450 5,626 5,767
Operating Margin 20.15% 21.23% 20.21% 18.63% 19.68% 20.4% 20.64% 20.79%
Earnings before Tax (EBT) 1 2,661 1,030 1,708 2,966 3,633 4,620 4,779 4,918
Net income 1 1,935 356 1,012 2,363 2,855 3,691 3,808 3,945
Net margin 7.75% 1.36% 3.89% 8.92% 10.72% 13.82% 13.97% 14.23%
EPS 2 1.580 0.2900 0.8200 1.910 2.310 3.017 3.151 3.305
Free Cash Flow 1 2,784 4,333 4,459 1,553 2,963 3,559 3,947 4,242
FCF margin 11.15% 16.55% 17.12% 5.86% 11.12% 13.32% 14.48% 15.3%
FCF Conversion (EBITDA) 45.91% 64.97% 69.99% 25.87% 46.98% 55.02% 58.81% 61.73%
FCF Conversion (Net income) 143.88% 1,217.13% 440.61% 65.72% 103.78% 96.41% 103.67% 107.53%
Dividend per Share 2 1.600 1.600 1.600 1.600 - 1.609 1.618 1.649
Announcement Date 2/13/20 2/11/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 6,709 6,045 6,554 6,505 7,381 6,489 6,721 6,570 6,860 6,411 6,640 6,645 7,004 6,553 6,809
EBITDA 1 1,606 1,342 1,520 1,398 1,743 1,480 1,612 1,565 1,650 1,495 1,610 1,624 1,734 1,592 1,724
EBIT 1 1,331 1,091 1,243 1,143 1,456 1,232 1,337 1,298 1,375 1,265 1,357 1,362 1,473 1,313 1,418
Operating Margin 19.84% 18.05% 18.97% 17.57% 19.73% 18.99% 19.89% 19.76% 20.04% 19.73% 20.43% 20.49% 21.03% 20.03% 20.83%
Earnings before Tax (EBT) 1 -520 971 399 545 1,051 1,051 1,172 460 950 1,029 1,152 1,173 1,260 1,132 1,218
Net income 1 -257 776 265 432 890 836 1,000 262 757 801 923.7 917.9 1,010 895.1 963
Net margin -3.83% 12.84% 4.04% 6.64% 12.06% 12.88% 14.88% 3.99% 11.03% 12.49% 13.91% 13.81% 14.42% 13.66% 14.14%
EPS 2 -0.2100 0.6300 0.2100 0.3500 0.7200 0.6800 0.8100 0.2100 0.6100 0.6600 0.7540 0.7560 0.8340 0.7250 0.7900
Dividend per Share 2 0.4000 0.4000 0.4000 0.4000 0.4000 0.4000 0.4000 - - - 0.4012 0.4013 0.4013 0.4019 0.4054
Announcement Date 2/16/22 4/27/22 7/27/22 10/26/22 2/15/23 5/3/23 8/2/23 11/1/23 2/14/24 5/1/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 26,965 24,889 18,370 19,030 18,632 18,052 16,668 15,198
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.447 x 3.732 x 2.883 x 3.17 x 2.954 x 2.791 x 2.483 x 2.211 x
Free Cash Flow 1 2,784 4,333 4,459 1,553 2,963 3,559 3,947 4,242
ROE (net income / shareholders' equity) 6.76% 6.95% 7.29% 7.01% 7.5% 7.34% 7.49% 7.58%
ROA (Net income/ Total Assets) 3.4% 3.51% 3.75% 3.73% 4.07% 4.07% 4.23% 4.45%
Assets 1 56,832 10,131 26,997 63,288 70,147 90,695 89,958 88,752
Book Value Per Share 2 42.20 41.00 40.30 40.30 - 41.50 43.00 44.80
Cash Flow per Share 2 2.900 4.010 4.340 2.000 3.220 3.790 4.070 4.160
Capex 1 768 596 905 916 1,013 1,071 999 994
Capex / Sales 3.07% 2.28% 3.48% 3.46% 3.8% 4.01% 3.66% 3.59%
Announcement Date 2/13/20 2/11/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
35.85 USD
Average target price
40.46 USD
Spread / Average Target
+12.86%
Consensus
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