Company Valuation: Lundbeck

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 25,433 31,719 39,416 41,398 41,777 - -
Change - 24.72% 24.27% 5.03% 0.92% - -
Enterprise Value (EV) 1 27,464 31,008 51,598 49,619 45,780 41,599 37,840
Change - 12.91% 66.4% -3.84% -7.74% -9.13% -9.04%
P/E 13.5x 14.2x 13x 13.4x 9.37x 9.18x 9.78x
PBR 1.24x 1.47x 1.64x 1.72x 1.48x 1.33x 1.22x
PEG - 0.7x 0.3x 8.5x 0.2x 4.37x -1.59x
Capitalization / Revenue 1.39x 1.59x 1.79x 1.68x 1.61x 1.6x 1.64x
EV / Revenue 1.51x 1.56x 2.34x 2.01x 1.77x 1.6x 1.49x
EV / EBITDA 5.89x 5.49x 8.13x 6.3x 5.59x 5.11x 4.88x
EV / EBIT 9.63x 9.71x 15.8x 9.41x 7.45x 6.64x 6.43x
EV / FCF 10.2x 8.66x 18.7x 10.2x 7.62x 6.85x 6.77x
FCF Yield 9.83% 11.5% 5.35% 9.8% 13.1% 14.6% 14.8%
Dividend per Share 2 0.58 0.7 0.95 1.15 1.552 1.404 1.504
Rate of return 2.23% 2.14% 2.3% 2.66% 3.65% 3.3% 3.53%
EPS 2 1.93 2.31 3.17 3.22 4.54 4.635 4.35
Distribution rate 30.1% 30.3% 30% 35.7% 34.2% 30.3% 34.6%
Net sales 1 18,246 19,912 22,004 24,630 25,908 26,032 25,462
EBITDA 1 4,663 5,652 6,347 7,881 8,194 8,137 7,754
EBIT 1 2,852 3,195 3,270 5,275 6,141 6,269 5,884
Net income 1 1,916 2,290 3,143 3,192 4,581 4,657 4,391
Net Debt 1 2,031 -711 12,182 8,221 4,003 -177.7 -3,937
Reference price 2 26.05 32.76 41.32 43.16 42.56 42.56 42.56
Nbr of stocks (in thousands) 992,840 992,840 992,011 991,227 991,227 - -
Announcement Date 7/2/23 7/2/24 5/2/25 4/2/26 - - -
1DKK in Million2DKK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.42x0.25x14.09x0.42% 102B
22.03x0.21x12.4x0.93% 52.42B
33.84x2.54x22.92x1.79% 20.85B
10.48x0.19x4.37x2.88% 7.88B
12.68x0.9x7.44x3.13% 6.83B
9.37x1.77x5.59x3.65% 6.41B
5.36x0.08x2.36x5.53% 5.97B
24.58x1.12x14.13x3.12% 4.94B
12.9x - - 2.57% 3.79B
Average 17.07x 0.88x 10.41x 2.67% 23.45B
Weighted average by Cap. 21.69x 0.55x 13.36x 1.2%

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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