Company Valuation: Nestlé S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 350,518 295,663 252,370 192,539 202,576 217,482 - -
Change - -15.65% -14.64% -23.71% 5.21% 7.36% - -
Enterprise Value (EV) 1 383,097 343,288 301,760 248,544 253,958 267,985 266,588 264,515
Change - -10.39% -12.1% -17.63% 2.18% 5.52% -0.52% -0.78%
P/E 21x 31.3x 23.1x 17.9x 22.4x 21x 19.5x 18.1x
PBR 6.62x 7.04x 7.42x 5.36x 6.17x 6.12x 5.7x 5.21x
PEG - -0.7x 1x -18.93x -1.4x 1.4x 2.61x 2.25x
Capitalization / Revenue 4.02x 3.13x 2.71x 2.11x 2.26x 2.44x 2.36x 2.29x
EV / Revenue 4.4x 3.64x 3.24x 2.72x 2.84x 3.01x 2.89x 2.78x
EV / EBITDA 20.6x 17.5x 15.5x 12.9x 14.1x 14.8x 14x 13.2x
EV / EBIT 25.3x 21.3x 18.8x 15.8x 17.6x 18.5x 17.4x 16.5x
EV / FCF 44.9x 52.3x 29x 23.3x 27.7x 27x 25.6x 22.8x
FCF Yield 2.22% 1.91% 3.45% 4.29% 3.6% 3.7% 3.91% 4.38%
Dividend per Share 2 2.8 2.95 3 3.05 3.1 3.144 3.201 3.298
Rate of return 2.2% 2.75% 3.08% 4.07% 3.94% 3.72% 3.79% 3.9%
EPS 2 6.06 3.42 4.23 4.19 3.51 4.03 4.331 4.679
Distribution rate 46.2% 86.3% 70.9% 72.8% 88.3% 78% 73.9% 70.5%
Net sales 1 87,088 94,424 92,998 91,354 89,490 89,079 92,109 95,103
EBITDA 1 18,559 19,644 19,511 19,286 18,022 18,127 19,066 19,990
EBIT 1 15,119 16,103 16,053 15,704 14,389 14,487 15,313 16,038
Net income 1 16,905 9,270 11,209 10,884 9,033 10,411 11,167 12,038
Net Debt 1 32,579 47,625 49,390 56,005 51,382 50,503 49,107 47,033
Reference price 2 127.44 107.14 97.51 74.88 78.74 84.55 84.55 84.55
Nbr of stocks (in thousands) 2,750,456 2,759,592 2,588,141 2,571,306 2,572,715 2,572,225 - -
Announcement Date 2/17/22 2/16/23 2/22/24 2/13/25 2/19/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.27x2.47x14.55x3.41% 78.19B
19.35x1.96x11.05x3.18% 53.75B
17.1x0.52x10.04x2.68% 37.01B
22.82x3.36x13.68x3.17% 36.95B
43.57x3.64x21.55x0.82% 36.55B
12.11x1.94x9.56x6.33% 30.08B
71.25x10.64x45.18x1.07% 29.56B
12.23x0.38x8.68x2.73% 20.66B
11.9x1.84x10.56x6.53% 20.05B
Average 25.73x 2.97x 16.09x 3.32% 38.09B
Weighted average by Cap. 25.48x 2.89x 15.78x 3.19%

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