Projected Income Statement: Lundbeck

Forecast Balance Sheet: Lundbeck

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 3,043 2,031 -711 12,182 8,221 4,003 -178 -3,937
Change - -33.26% -135.01% 1,813.36% -32.52% -51.31% -104.45% -2,111.8%
Announcement Date 2/9/22 2/7/23 2/7/24 2/5/25 2/4/26 - - -
1DKK in Million
Estimates

Cash Flow Forecast: Lundbeck

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 610 820 501 565 618 583.4 589.7 573.6
Change - 34.43% -38.9% 12.77% 9.38% -5.6% 1.08% -2.74%
Free Cash Flow (FCF) 1 1,662 2,699 3,579 2,761 4,863 6,008 6,072 5,586
Change - 62.39% 32.6% -22.86% 76.13% 23.54% 1.07% -8.01%
Announcement Date 2/9/22 2/7/23 2/7/24 2/5/25 2/4/26 - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Lundbeck

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 22.82% 25.56% 28.38% 28.84% 32% 31.23% 31.12% 30.22%
EBIT Margin (%) 12.33% 15.63% 16.05% 14.86% 21.42% 22.87% 23.73% 22.84%
EBT Margin (%) 9.7% 13.56% 15.03% 16.9% 18.22% 22.68% 23.09% 22.71%
Net margin (%) 8.09% 10.5% 11.5% 14.28% 12.96% 17.69% 17.84% 17.19%
FCF margin (%) 10.2% 14.79% 17.97% 12.55% 19.74% 23.18% 23.3% 22.03%
FCF / Net Income (%) 126.1% 140.87% 156.29% 87.85% 152.35% 131% 130.62% 128.15%

Profitability

        
ROA 7.07% 8.87% 6.12% 6.66% 6.13% 7.96% 7.6% 6.8%
ROE 14.17% 16.37% 10.7% 13.4% 20.93% 18.83% 16.38% 13.55%

Financial Health

        
Leverage (Debt/EBITDA) 0.82x 0.44x - 1.92x 1.04x 0.49x - -
Debt / Free cash flow 1.83x 0.75x - 4.41x 1.69x 0.67x - -

Capital Intensity

        
CAPEX / Current Assets (%) 3.74% 4.49% 2.52% 2.57% 2.51% 2.25% 2.26% 2.26%
CAPEX / EBITDA (%) 16.4% 17.59% 8.86% 8.9% 7.84% 7.21% 7.27% 7.49%
CAPEX / FCF (%) 36.7% 30.38% 14% 20.46% 12.71% 9.71% 9.71% 10.27%

Items per share

        
Cash flow per share 1 - 3.54 4.11 3.35 5.52 6.17 6.53 6.228
Change - - 16.1% -18.49% 64.78% 11.77% 5.84% -4.62%
Dividend per Share 1 - 0.58 0.7 0.95 1.15 1.552 1.397 1.497
Change - - 20.69% 35.71% 21.05% 34.96% -9.98% 7.14%
Book Value Per Share 1 - 20.93 22.22 25.23 25.1 28.81 32.06 34.91
Change - - 6.16% 13.55% -0.52% 14.77% 11.31% 8.89%
EPS 1 - 1.93 2.31 3.17 3.22 4.545 4.628 4.35
Change - - 19.69% 37.23% 1.58% 41.14% 1.83% -6.01%
Nbr of stocks (in thousands) - 992,840 992,840 992,011 991,227 991,227 991,227 991,227
Announcement Date - 2/7/23 2/7/24 2/5/25 2/4/26 - - -
1DKK
Estimates
2026 *2027 *
P/E 9.5x 9.33x
PBR 1.5x 1.35x
EV / Sales 1.8x 1.63x
Yield 3.6% 3.24%

EPS & Dividend



Y-o-Y evolution of P/E

 

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
43.16DKK
Average target price
48.73DKK
Spread / Average Target
+12.91%

Quarterly revenue - Rate of surprise