Financials Renault

Equities

RNO

FR0000131906

Auto & Truck Manufacturers

Market Closed - Euronext Paris Other stock markets 11:35:56 2024-05-08 am EDT			5-day change	1st Jan Change
47.87 ^EUR	-0.56%		+2.42%	+29.71%

May. 08	Renault: new Master now available to order	CF
May. 07	Nissan CEO: committed to staying in China but strategy there must change	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,409	9,674	8,302	8,499	9,982	12,948	-	-
Enterprise Value (EV) ¹	8,001	13,330	9,924	7,950	6,258	7,207	5,456	3,895
P/E ratio	-81.1 x	-1.21 x	9.37 x	-25.2 x	4.62 x	4.09 x	3.52 x	3.32 x
Yield	2.61%	-	-	0.8%	5.01%	5.55%	7.56%	9%
Capitalization / Revenue	0.21 x	0.22 x	0.18 x	0.18 x	0.19 x	0.24 x	0.23 x	0.22 x
EV / Revenue	0.14 x	0.31 x	0.21 x	0.17 x	0.12 x	0.13 x	0.1 x	0.07 x
EV / EBITDA	1.24 x	3.02 x	1.8 x	1.3 x	0.86 x	1 x	0.72 x	0.49 x
EV / FCF	13.9 x	8.63 x	7.8 x	3.75 x	2.07 x	2.6 x	1.91 x	1.26 x
FCF Yield	7.21%	11.6%	12.8%	26.7%	48.3%	38.5%	52.5%	79.4%
Price to Book	0.33 x	0.35 x	0.33 x	0.32 x	0.34 x	0.4 x	0.37 x	0.34 x
Nbr of stocks (in thousands)	270,481	270,521	271,801	271,761	270,491	270,491	-	-
Reference price ²	42.18	35.76	30.54	31.28	36.90	47.87	47.87	47.87
Announcement Date	2/14/20	2/19/21	2/18/22	2/16/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	55,537	43,474	46,213	46,391	52,376	54,756	57,252	59,474
EBITDA ¹	6,471	4,413	5,522	6,127	7,305	7,232	7,572	7,955
EBIT ¹	2,662	-337	1,663	2,595	4,117	4,212	4,525	4,880
Operating Margin	4.79%	-0.78%	3.6%	5.59%	7.86%	7.69%	7.9%	8.21%
Earnings before Tax (EBT) ¹	1,473	-7,626	1,563	2,153	2,838	3,970	4,566	4,980
Net income ¹	-141	-8,008	888	-338	2,198	3,084	3,412	3,666
Net margin	-0.25%	-18.42%	1.92%	-0.73%	4.2%	5.63%	5.96%	6.16%
EPS ²	-0.5200	-29.51	3.260	-1.240	7.990	11.70	13.60	14.42
Free Cash Flow ¹	577	1,545	1,272	2,119	3,024	2,775	2,862	3,092
FCF margin	1.04%	3.55%	2.75%	4.57%	5.77%	5.07%	5%	5.2%
FCF Conversion (EBITDA)	8.92%	35.01%	23.04%	34.58%	41.4%	38.37%	37.8%	38.87%
FCF Conversion (Net income)	-	-	143.24%	-	137.58%	89.97%	83.9%	84.35%
Dividend per Share ²	1.100	-	-	0.2500	1.850	2.657	3.619	4.307
Announcement Date	2/14/20	2/19/21	2/18/22	2/16/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 S1	2025 S2
Net sales ¹	27,487	18,425	25,049	23,357	8,987	13,869	22,856	9,748	11,373	21,121	9,782	15,488	25,270	11,498	15,351	26,849	10,507	15,020	25,527	11,707	15,795	26,761	12,061	17,257	29,542	29,923
EBITDA	2,982	-	3,128	-	-	1,052	2,765	-	-	2,758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	1,008	-1,203	866	654	-	-	1,009	-	-	939	-	-	1,656	-	-	2,096	-	-	2,021	-	-	2,177	-	-	-	-
Operating Margin	3.67%	-6.53%	3.46%	2.8%	-	-	4.41%	-	-	4.45%	-	-	6.55%	-	-	7.81%	-	-	7.92%	-	-	8.13%	-	-	-	-
Earnings before Tax (EBT)	171	-7,113	-513	568	-	-	995	-	-	917	-	-	1,236	-	-	2,402	-	-	436	-	-	-	-	-	-	-
Net income	-1,111	-7,292	-716	354	-	-	534	-	-	-1,357	-	-	1,019	-	-	2,093	-	-	105	-	-	1,551	-	-	-	-
Net margin	-4.04%	-39.58%	-2.86%	1.52%	-	-	2.34%	-	-	-6.42%	-	-	4.03%	-	-	7.8%	-	-	0.41%	-	-	5.8%	-	-	-	-
EPS	-4.090	-26.91	-2.600	1.300	-	-	1.960	-	-	-7.300	-	-	6.060	-	-	7.590	-	-	0.4000	-	-	-	-	-	-	-
Dividend per Share	1.100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/14/20	7/30/20	2/19/21	7/30/21	10/22/21	2/18/22	2/18/22	4/22/22	7/29/22	7/29/22	10/21/22	2/16/23	2/16/23	4/20/23	7/27/23	7/27/23	10/19/23	2/14/24	2/14/24	4/23/24	-	-	-	-	-	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	3,656	1,622	-	-	-	-	-
Net Cash position ¹	3,408	-	-	549	3,724	5,742	7,492	9,053
Leverage (Debt/EBITDA)	-	0.8285 x	0.2937 x	-	-	-	-	-
Free Cash Flow ¹	577	1,545	1,272	2,119	3,024	2,775	2,862	3,092
ROE (net income / shareholders' equity)	-0.4%	-21.4%	3.41%	5.88%	7.49%	11.1%	10.6%	10.5%
ROA (Net income/ Total Assets)	-0.12%	-5.33%	0.92%	1.42%	1.83%	3.27%	2.98%	3.21%
Assets ¹	117,500	150,108	96,522	-23,769	120,103	94,241	114,574	114,345
Book Value Per Share ²	127.0	102.0	92.40	97.40	108.0	121.0	131.0	141.0
Cash Flow per Share ²	20.50	21.20	8.800	16.00	16.20	20.30	21.00	25.20
Capex ¹	5,022	4,208	2,415	2,203	2,950	3,053	3,247	3,395
Capex / Sales	9.04%	9.68%	5.23%	4.75%	5.63%	5.58%	5.67%	5.71%
Announcement Date	2/14/20	2/19/21	2/18/22	2/16/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Renault

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

47.87 EUR

Average target price

55.62 EUR

Spread / Average Target

+16.18%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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