Company Valuation: Nestlé S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 350,518 295,663 252,370 192,539 202,576 213,906 - -
Change - -15.65% -14.64% -23.71% 5.21% 5.59% - -
Enterprise Value (EV) 1 383,097 343,288 301,760 248,544 253,958 264,409 263,013 260,939
Change - -10.39% -12.1% -17.63% 2.18% 4.12% -0.53% -0.79%
P/E 21x 31.3x 23.1x 17.9x 22.4x 20.7x 19.2x 17.8x
PBR 6.62x 7.04x 7.42x 5.36x 6.17x 6.03x 5.62x 5.13x
PEG - -0.7x 1x -18.93x -1.4x 1.4x 2.57x 2.21x
Capitalization / Revenue 4.02x 3.13x 2.71x 2.11x 2.26x 2.4x 2.32x 2.25x
EV / Revenue 4.4x 3.64x 3.24x 2.72x 2.84x 2.97x 2.85x 2.74x
EV / EBITDA 20.6x 17.5x 15.5x 12.9x 14.1x 14.6x 13.8x 13x
EV / EBIT 25.3x 21.3x 18.8x 15.8x 17.6x 18.2x 17.2x 16.3x
EV / FCF 44.9x 52.3x 29x 23.3x 27.7x 26.7x 25.2x 22.5x
FCF Yield 2.22% 1.91% 3.45% 4.29% 3.6% 3.75% 3.97% 4.44%
Dividend per Share 2 2.8 2.95 3 3.05 3.1 3.144 3.201 3.299
Rate of return 2.2% 2.75% 3.08% 4.07% 3.94% 3.77% 3.84% 3.96%
EPS 2 6.06 3.42 4.23 4.19 3.51 4.032 4.333 4.681
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 89,104 92,165 95,166
EBITDA 1 18,559 19,644 19,511 19,286 18,022 18,132 19,072 19,996
EBIT 1 15,119 16,103 16,053 15,704 14,389 14,491 15,317 16,042
Net income 1 16,905 9,270 11,209 10,884 9,033 10,418 11,173 12,044
Net Debt 1 32,579 47,625 49,390 56,005 51,382 50,503 49,106 47,033
Reference price 2 127.44 107.14 97.51 74.88 78.74 83.31 83.31 83.31
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.36x2.39x14.07x3.56% 74.84B
19.09x1.94x10.95x3.22% 53B
17.59x0.53x10.15x2.6% 38.06B
21.47x3.19x12.97x3.36% 34.82B
40.41x3.39x20.05x0.88% 33.63B
11.84x1.91x9.4x6.5% 29.26B
71.49x10.67x45.3x1.07% 29.56B
13.05x0.39x9.03x2.56% 22.04B
11.36x1.79x10.27x6.84% 19.13B
Average 25.19x 2.91x 15.80x 3.4% 37.15B
Weighted average by Cap. 24.75x 2.81x 15.42x 3.27%

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