Financials GSK plc

Equities

GSK

GB00BN7SWP63

Pharmaceuticals

Market Closed - London S.E. 11:35:21 2024-05-10 am EDT 5-day change 1st Jan Change
1,800 GBX +1.07% Intraday chart for GSK plc +3.81% +24.09%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 88,051 66,801 80,458 58,381 59,112 72,609 - -
Enterprise Value (EV) 1 113,773 87,581 100,296 75,578 74,152 84,914 81,709 76,870
P/E ratio 19.2 x 11.8 x 18.6 x 3.93 x 11.9 x 13 x 11.3 x 10.2 x
Yield 4.5% 5.96% 4.98% 4.26% 4% 3.42% 3.55% 3.69%
Capitalization / Revenue 2.61 x 1.96 x 2.36 x 1.99 x 1.95 x 2.3 x 2.16 x 2.05 x
EV / Revenue 3.37 x 2.57 x 2.94 x 2.58 x 2.45 x 2.69 x 2.44 x 2.17 x
EV / EBITDA 9.51 x 9.19 x 8.85 x 7.23 x 6.37 x 8.02 x 7.03 x 6.09 x
EV / FCF 22.4 x 16.2 x 22.6 x 12.1 x 13.6 x 14.4 x 11.4 x 10.1 x
FCF Yield 4.46% 6.17% 4.42% 8.28% 7.36% 6.94% 8.76% 9.88%
Price to Book 7.35 x 4.58 x 5.34 x 5.47 x 4.4 x 4.53 x 3.72 x 3.08 x
Nbr of stocks (in thousands) 3,959,572 3,982,185 4,006,383 4,060,999 4,076,145 4,078,037 - -
Reference price 2 22.24 16.78 20.08 14.38 14.50 17.80 17.80 17.80
Announcement Date 2/5/20 2/3/21 2/9/22 2/1/23 1/31/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 33,754 34,099 34,114 29,324 30,328 31,613 33,556 35,487
EBITDA 1 11,968 9,530 11,330 10,449 11,635 10,584 11,624 12,629
EBIT 1 8,972 8,906 8,806 8,151 8,786 9,167 10,151 11,223
Operating Margin 26.58% 26.12% 25.81% 27.8% 28.97% 29% 30.25% 31.63%
Earnings before Tax (EBT) 1 6,221 6,968 5,442 5,628 6,064 7,435 8,674 9,534
Net income 1 4,645 5,749 4,385 14,956 4,928 5,586 6,473 7,156
Net margin 13.76% 16.86% 12.85% 51% 16.25% 17.67% 19.29% 20.17%
EPS 2 1.158 1.426 1.082 3.662 1.216 1.366 1.579 1.748
Free Cash Flow 1 5,073 5,406 4,437 6,260 5,454 5,889 7,158 7,594
FCF margin 15.03% 15.85% 13.01% 21.35% 17.98% 18.63% 21.33% 21.4%
FCF Conversion (EBITDA) 42.39% 56.73% 39.16% 59.91% 46.88% 55.64% 61.58% 60.13%
FCF Conversion (Net income) 109.21% 94.03% 101.19% 41.86% 110.67% 105.42% 110.59% 106.12%
Dividend per Share 2 1.000 1.000 1.000 0.6125 0.5800 0.6096 0.6324 0.6575
Announcement Date 2/5/20 2/3/21 2/9/22 2/1/23 1/31/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 9,527 9,780 6,929 7,829 7,376 6,951 7,178 8,147 8,052 7,363 7,525 8,557 8,216 7,590 7,865
EBITDA 1 2,406 3,317 2,639 3,561 1,602 2,732 2,622 3,351 2,930 2,992 2,595 3,095 1,836 - -
EBIT 1 1,893 2,613 2,008 2,605 1,595 2,092 2,170 2,772 1,752 2,443 2,209 2,809 1,778 2,408 2,487
Operating Margin 19.87% 26.72% 28.98% 33.27% 21.62% 30.1% 30.23% 34.02% 21.76% 33.18% 29.35% 32.82% 21.65% 31.73% 31.62%
Earnings before Tax (EBT) 1 706 2,598 896 1,012 1,626 1,907 1,987 1,791 379 1,355 1,825 2,487 1,506 - -
Net income 1 749 1,802 975 10,315 1,495 1,490 1,624 1,464 350 1,046 1,426 1,877 1,266 - -
Net margin 7.86% 18.43% 14.07% 131.75% 20.27% 21.44% 22.62% 17.97% 4.35% 14.21% 18.94% 21.93% 15.4% - -
EPS 2 0.1838 0.4488 0.2080 2.523 0.3650 0.3650 0.4010 0.3610 0.0860 0.2540 0.3446 0.4542 0.3047 - -
Dividend per Share 2 0.2875 0.1750 0.1625 0.1375 0.1375 0.1400 0.1400 0.1400 0.1600 0.1500 0.1500 0.1500 0.1500 0.1594 0.1594
Announcement Date 2/9/22 4/27/22 7/27/22 11/2/22 2/1/23 4/26/23 7/26/23 11/1/23 1/31/24 5/1/24 - - - - -
1GBP in Million2GBP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 25,722 20,780 19,838 17,197 15,040 12,305 9,100 4,261
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.149 x 2.18 x 1.751 x 1.646 x 1.293 x 1.163 x 0.7829 x 0.3374 x
Free Cash Flow 1 5,073 5,406 4,437 6,260 5,454 5,889 7,158 7,594
ROE (net income / shareholders' equity) 75% 44.4% 38.2% 43.9% 52.5% 42.4% 39% 36.1%
ROA (Net income/ Total Assets) 8.9% 7.18% 5.5% 8.08% 10.5% 9.61% 10.6% 11.2%
Assets 1 52,185 80,062 79,768 185,120 46,727 58,120 60,899 64,049
Book Value Per Share 2 3.020 3.660 3.760 2.630 3.290 3.930 4.780 5.770
Cash Flow per Share 2 2.000 2.090 1.960 1.810 1.670 1.810 1.850 1.950
Capex 1 1,265 1,226 1,172 1,143 1,314 1,709 1,656 1,647
Capex / Sales 3.75% 3.6% 3.44% 3.9% 4.33% 5.41% 4.94% 4.64%
Announcement Date 2/5/20 2/3/21 2/9/22 2/1/23 1/31/24 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
17.8 GBP
Average target price
20.24 GBP
Spread / Average Target
+13.66%
Consensus
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