Company Valuation: Gedeon Richter

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,619,625 1,542,290 1,627,029 1,893,161 1,799,226 2,172,240 - -
Change - -4.77% 5.49% 16.36% -4.96% 20.73% - -
Enterprise Value (EV) 1 1,559,769 1,395,557 1,546,536 1,782,343 1,588,618 1,857,650 1,750,849 1,632,235
Change - -10.53% 10.82% 15.25% -10.87% 16.93% -5.75% -6.77%
P/E 11.6x 9.94x 10.2x 7.96x 7.76x 8.32x 7.63x 6.97x
PBR 1.78x 1.47x 1.44x 1.49x 1.31x 1.44x 1.3x 1.18x
PEG - 0.9x 3.41x 0.2x -2.82x 0.7x 0.85x 0.73x
Capitalization / Revenue 2.57x 1.92x 2.02x 2.21x 1.94x 2.28x 2.12x 1.98x
EV / Revenue 2.47x 1.74x 1.92x 2.08x 1.71x 1.95x 1.71x 1.49x
EV / EBITDA 8.86x 7.1x 6.43x 5.74x 4.5x 5.11x 4.49x 3.85x
EV / EBIT 11.5x 9.09x 8.15x 6.82x 5.42x 6.19x 5.36x 4.64x
EV / FCF -460x 12.3x 17.9x 8.26x 7.56x 8.74x 7.57x 6.49x
FCF Yield -0.22% 8.12% 5.6% 12.1% 13.2% 11.4% 13.2% 15.4%
Dividend per Share 2 225 390 - - - 620.6 664.4 733
Rate of return 2.58% 4.7% - - - 5.21% 5.58% 6.15%
EPS 2 751 835 860 1,307 1,271 1,432 1,561 1,709
Distribution rate 30% 46.7% - - - 43.3% 42.6% 42.9%
Net sales 1 630,595 802,755 805,158 857,545 928,962 951,724 1,023,546 1,098,192
EBITDA 1 176,123 196,480 240,625 310,678 353,314 363,366 389,794 424,113
EBIT 1 135,832 153,555 189,817 261,157 292,851 299,996 326,732 351,898
Net income 1 139,626 155,581 158,850 239,244 232,335 259,474 286,154 313,070
Net Debt 1 -59,856 -146,733 -80,493 -110,818 -210,608 -314,590 -421,390 -540,005
Reference price 2 8,725.00 8,300.00 8,750.00 10,400.00 9,865.00 11,910.00 11,910.00 11,910.00
Nbr of stocks (in thousands) 185,630 185,818 185,946 182,035 182,385 182,388 - -
Announcement Date 2/3/22 28/2/23 29/2/24 7/4/25 27/2/26 - - -
1HUF in Million2HUF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.14x7.03x23.97x0.83% 45.7B
17.28x1.92x9.13x1.4% 34B
26.5x3.25x16.66x0.91% 11.73B
23.66x4.13x15.38x0.75% 11.48B
19.79x3.43x12.41x3.44% 9.28B
14.9x1.96x7.41x3.6% 6.62B
32.74x3.72x15.82x0.24% 6.44B
40.47x - - - 5.01B
Average 26.56x 3.63x 14.40x 1.6% 16.28B
Weighted average by Cap. 27.35x 4.32x 16.32x 1.3%

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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