Company Valuation: Sanofi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 111,194 112,665 112,549 116,968 100,655 88,717 - -
Change - 1.32% -0.1% 3.93% -13.95% -11.86% - -
Enterprise Value (EV) 1 121,177 119,102 120,342 125,740 111,663 100,180 97,053 93,606
Change - -1.71% 1.04% 4.49% -11.2% -10.28% -3.12% -3.55%
P/E 17.8x 16.7x 20.8x 20.4x 12.9x 11.8x 10.3x 8.87x
PBR 1.62x 1.5x 1.52x 1.51x 1.41x 1.2x 1.13x 1.07x
PEG - 2.07x -1.1x 3.14x 0.3x -6.25x 0.7x 0.6x
Capitalization / Revenue 2.94x 2.62x 2.61x 2.85x 2.31x 1.86x 1.75x 1.67x
EV / Revenue 3.21x 2.77x 2.79x 3.06x 2.56x 2.1x 1.92x 1.76x
EV / EBITDA 9.95x 8.14x 8.44x 9.76x 8.22x 6.8x 6.19x 5.51x
EV / EBIT 11.3x 9.13x 9.5x 11.1x 9.19x 7.53x 6.93x 6.18x
EV / FCF 15x 14x 14.2x 21.1x 13.8x 12.1x 10.8x 9.31x
FCF Yield 6.68% 7.12% 7.04% 4.74% 7.24% 8.29% 9.28% 10.7%
Dividend per Share 2 3.33 3.56 3.76 3.92 4.12 4.254 4.496 4.795
Rate of return 3.76% 3.96% 4.19% 4.18% 4.98% 5.74% 6.07% 6.47%
EPS 2 4.97 5.37 4.31 4.59 6.4 6.279 7.206 8.348
Distribution rate 67% 66.3% 87.2% 85.4% 64.4% 67.7% 62.4% 57.4%
Net sales 1 37,761 42,997 43,070 41,081 43,626 47,648 50,644 53,167
EBITDA 1 12,183 14,627 14,259 12,889 13,583 14,728 15,673 16,990
EBIT 1 10,714 13,040 12,670 11,343 12,149 13,312 13,999 15,142
Net income 1 6,223 6,720 5,400 5,744 7,813 7,479 8,886 10,309
Net Debt 1 9,983 6,437 7,793 8,772 11,008 11,463 8,336 4,889
Reference price 2 88.58 89.84 89.76 93.74 82.72 74.05 74.05 74.05
Nbr of stocks (in thousands) 1,255,293 1,254,060 1,253,891 1,247,793 1,216,810 1,198,069 - -
Announcement Date 2/4/22 2/3/23 2/1/24 1/30/25 1/29/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.78x11.92x24.16x0.6% 1,028B
30.03x6.68x18.7x1.99% 651B
33.38x7.81x16.15x2.6% 466B
19.33x4.72x11.71x2.81% 346B
19.72x5.16x12.79x3.11% 266B
21.26x4.42x12.58x1.99% 259B
24.43x6.42x11.43x2.62% 208B
12.52x4.56x9.46x4.01% 191B
-45.4x6.61x25.81x2.19% 186B
Average 16.45x 6.48x 15.87x 2.44% 400.19B
Weighted average by Cap. 23.68x 7.73x 17.83x 1.99%

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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