Company Valuation: Cochlear Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,546 13,070 15,043 21,754 19,647 7,782 - -
Change - -21.01% 15.1% 44.62% -9.69% -60.39% - -
Enterprise Value (EV) 1 15,981 12,440 14,689 21,240 19,371 7,597 7,538 7,476
Change - -22.16% 18.08% 44.6% -8.8% -60.78% -0.78% -0.83%
P/E 50.7x 45.2x 50.1x 61x 50.7x 32.5x 23.9x 21x
PBR 9.72x 7.75x 8.63x 11.9x 10.1x 4.08x 3.9x 3.68x
PEG - -3.9x 12.65x 3.2x 5.72x -0.9x 0.7x 1.5x
Capitalization / Revenue 11.1x 7.93x 7.69x 9.63x 8.38x 3.35x 3.23x 3.04x
EV / Revenue 10.7x 7.55x 7.51x 9.41x 8.27x 3.27x 3.13x 2.92x
EV / EBITDA 39x 27.3x 30.8x 36x 31.7x 15.4x 13.6x 12.3x
EV / EBIT 48.4x 32.5x 37.1x 42.1x 37.2x 19.3x 16.7x 14.9x
EV / FCF 69.5x 37.5x 47x 65.1x 143x 32x 23.3x 20.8x
FCF Yield 1.44% 2.67% 2.13% 1.54% 0.7% 3.12% 4.29% 4.82%
Dividend per Share 2 2.55 3 3.3 4.1 4.3 3.414 3.695 4.053
Rate of return 1.01% 1.51% 1.44% 1.23% 1.43% 2.87% 3.1% 3.41%
EPS 2 4.967 4.396 4.57 5.445 5.928 3.667 4.98 5.678
Distribution rate 51.3% 68.2% 72.2% 75.3% 72.5% 93.1% 74.2% 71.4%
Net sales 1 1,493 1,648 1,956 2,258 2,343 2,321 2,410 2,560
EBITDA 1 409.7 455.7 477 589.7 611.7 492.1 553.6 607.8
EBIT 1 330.2 382.7 396.1 504.8 521.3 393.7 451.9 501.8
Net income 1 326.5 289.1 300.6 356.8 388.9 236.8 322.2 374.3
Net Debt 1 -564.6 -629.3 -353.7 -513.6 -275.7 -185 -244.6 -306.8
Reference price 2 251.67 198.70 229.07 332.15 300.42 119.00 119.00 119.00
Nbr of stocks (in thousands) 65,744 65,775 65,668 65,494 65,397 65,399 - -
Announcement Date 19/8/21 18/8/22 14/8/23 14/8/24 14/8/25 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.45x3.27x15.44x2.87% 5.45B
32.58x5.66x18.39x1.07% 19.52B
20.44x3.38x12.31x2.29% 15.05B
20.18x2.59x10.04x1.85% 4.23B
18.59x2.08x10.21x-.--% 1.71B
54.81x3.38x26.94x0.84% 1.7B
20.88x4.21x12.63x0.95% 1.19B
-22.17x - - - 435M
Average 22.22x 3.51x 15.14x 1.41% 6.16B
Weighted average by Cap. 27.31x 4.19x 15.34x 1.67%

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

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