Projected Income Statement: Sanofi

Forecast Balance Sheet: Sanofi

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 9,983 6,437 7,793 8,772 11,008 11,908 8,613 5,215
Change - -35.52% 21.07% 12.56% 25.49% 8.18% -27.67% -39.45%
Announcement Date 2/4/22 2/3/23 2/1/24 1/30/25 1/29/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Sanofi

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 2,043 2,201 3,024 1,808 1,858 2,650 2,833 2,947
Change - 7.73% 37.39% -40.21% 2.77% 42.61% 6.92% 4.04%
Free Cash Flow (FCF) 1 8,096 8,483 8,478 5,955 8,089 8,306 9,008 10,058
Change - 4.78% -0.06% -29.76% 35.84% 2.69% 8.45% 11.65%
Announcement Date 2/4/22 2/3/23 2/1/24 1/30/25 1/29/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Sanofi

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

Profitability

        
EBITDA Margin (%) 32.26% 34.02% 33.11% 31.37% 31.14% 30.91% 30.99% 32.01%
EBIT Margin (%) 28.37% 30.33% 29.42% 27.61% 27.85% 27.93% 27.65% 28.5%
EBT Margin (%) 20.65% 19.23% 16.34% 17.03% 13.8% 18.25% 19.12% 20.99%
Net margin (%) 16.48% 15.63% 12.54% 13.98% 17.91% 15.7% 17.59% 19.44%
FCF margin (%) 21.44% 19.73% 19.68% 14.5% 18.54% 17.43% 17.79% 18.93%
FCF / Net Income (%) 130.1% 126.24% 157% 103.67% 103.53% 110.99% 101.17% 97.36%

Profitability

        
ROA 5.3% 8.37% 4.27% 4.43% 6.02% 5.94% 6.55% 7.01%
ROE 12.46% 14.42% 13.65% 11.75% 10.5% 14% 13.93% 14.45%

Financial Health

        
Leverage (Debt/EBITDA) 0.82x 0.44x 0.55x 0.68x 0.81x 0.81x 0.55x 0.31x
Debt / Free cash flow 1.23x 0.76x 0.92x 1.47x 1.36x 1.43x 0.96x 0.52x

Capital Intensity

        
CAPEX / Current Assets (%) 5.41% 5.12% 7.02% 4.4% 4.26% 5.56% 5.6% 5.55%
CAPEX / EBITDA (%) 16.77% 15.05% 21.21% 14.03% 13.68% 17.98% 18.06% 17.33%
CAPEX / FCF (%) 25.23% 25.95% 35.67% 30.36% 22.97% 31.9% 31.45% 29.3%

Items per share

        
Cash flow per share 1 8.365 8.408 8.195 7.857 7.91 8.659 9.894 11.37
Change - 0.52% -2.53% -4.13% 0.68% 9.46% 14.26% 14.91%
Dividend per Share 1 3.33 3.56 3.76 3.92 4.12 4.255 4.499 4.798
Change - 6.91% 5.62% 4.26% 5.1% 3.28% 5.74% 6.64%
Book Value Per Share 1 54.84 59.74 59.15 62.08 58.49 61.71 65.39 69.22
Change - 8.94% -0.98% 4.96% -5.8% 5.51% 5.96% 5.86%
EPS 1 4.97 5.37 4.31 4.59 6.4 6.285 7.222 8.366
Change - 8.05% -19.74% 6.5% 39.43% -1.79% 14.9% 15.85%
Nbr of stocks (in thousands) 1,255,293 1,254,060 1,253,891 1,247,793 1,216,810 1,198,069 1,198,069 1,198,069
Announcement Date 2/4/22 2/3/23 2/1/24 1/30/25 1/29/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 11.1x 9.69x
PBR 1.13x 1.07x
EV / Sales 2.01x 1.83x
Yield 6.08% 6.43%

EPS & Dividend



Y-o-Y evolution of P/E

 

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
69.99EUR
Average target price
94.06EUR
Spread / Average Target
+34.39%

Quarterly revenue - Rate of surprise