BAYER AG |
Market Closed -
Other stock markets
|
After market 11:55:43 am | |||
| 28.66 EUR | +0.30% |
|
28.7 | +0.12% |
| 08:23am | BAYER AG : JP Morgan reiterates its Neutral rating | ZD |
| May. 17 | BAYER AG : UBS remains Neutral | ZD |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 71,530 | 47,309 | 46,174 | 47,476 | 33,039 | 28,078 | - | - |
| Enterprise Value (EV) 1 | 105,598 | 84,884 | 79,140 | 78,749 | 33,039 | 60,478 | 58,244 | 54,709 |
| P/E ratio | 17.5 x | -4.51 x | 46.1 x | 11.5 x | -11.2 x | 12.4 x | 8.75 x | 8.36 x |
| Yield | 3.85% | 4.15% | 4.26% | 4.97% | - | 0.38% | 0.78% | 3.82% |
| Capitalization / Revenue | 1.64 x | 1.14 x | 1.05 x | 0.94 x | 0.69 x | 0.6 x | 0.59 x | 0.58 x |
| EV / Revenue | 2.43 x | 2.05 x | 1.8 x | 1.55 x | 0.69 x | 1.28 x | 1.22 x | 1.13 x |
| EV / EBITDA | 9.18 x | 7.41 x | 7.08 x | 5.83 x | 3.11 x | 5.71 x | 5.37 x | 4.98 x |
| EV / FCF | 19 x | 34.2 x | 31.9 x | 19 x | - | 17.9 x | 11.9 x | 12.4 x |
| FCF Yield | 5.26% | 2.93% | 3.13% | 5.26% | - | 5.58% | 8.38% | 8.03% |
| Price to Book | 1.51 x | 1.55 x | 1.4 x | 1.22 x | - | 0.83 x | 0.75 x | 0.68 x |
| Nbr of stocks (in thousands) | 982,424 | 982,424 | 982,424 | 982,424 | 982,424 | 982,424 | - | - |
| Reference price 2 | 72.81 | 48.16 | 47.00 | 48.32 | 33.63 | 28.58 | 28.58 | 28.58 |
| Announcement Date | 2/27/20 | 2/25/21 | 3/1/22 | 2/28/23 | 3/5/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 43,545 | 41,400 | 44,081 | 50,739 | 47,637 | 47,124 | 47,885 | 48,614 |
| EBITDA 1 | 11,503 | 11,461 | 11,179 | 13,513 | 10,632 | 10,600 | 10,838 | 10,993 |
| EBIT 1 | 7,007 | 7,095 | 7,295 | 9,257 | 7,589 | 6,666 | 7,046 | 7,205 |
| Operating Margin | 16.09% | 17.14% | 16.55% | 18.24% | 15.93% | 14.15% | 14.72% | 14.82% |
| Earnings before Tax (EBT) 1 | 2,880 | -17,250 | 2,046 | 4,670 | -1,621 | 4,021 | 4,089 | 4,498 |
| Net income 1 | 4,091 | -10,495 | 1,000 | 4,150 | -2,941 | 2,480 | 3,222 | 3,475 |
| Net margin | 9.39% | -25.35% | 2.27% | 8.18% | -6.17% | 5.26% | 6.73% | 7.15% |
| EPS 2 | 4.170 | -10.68 | 1.020 | 4.220 | -2.990 | 2.296 | 3.266 | 3.418 |
| Free Cash Flow 1 | 5,557 | 2,485 | 2,478 | 4,144 | - | 3,376 | 4,884 | 4,395 |
| FCF margin | 12.76% | 6% | 5.62% | 8.17% | - | 7.16% | 10.2% | 9.04% |
| FCF Conversion (EBITDA) | 48.31% | 21.68% | 22.17% | 30.67% | - | 31.85% | 45.06% | 39.98% |
| FCF Conversion (Net income) | 135.83% | - | 247.8% | 99.86% | - | 136.15% | 151.57% | 126.48% |
| Dividend per Share 2 | 2.800 | 2.000 | 2.000 | 2.400 | - | 0.1100 | 0.2243 | 1.093 |
| Announcement Date | 2/27/20 | 2/25/21 | 3/1/22 | 2/28/23 | 3/5/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 22,899 | 18,501 | 11,118 | 14,639 | 12,819 | 11,281 | 12,000 | 14,389 | 11,044 | 10,342 | 11,862 | 13,765 | 11,024 | 24,831 | 10,375 | 11,991 | 22,454 | - | - |
| EBITDA 1 | 7,274 | - | 2,395 | 5,251 | 3,349 | 2,451 | 2,462 | 4,471 | 2,527 | 1,685 | 3,023 | 4,412 | 2,341 | 6,738 | 1,623 | 2,315 | 3,941 | - | - |
| EBIT 1 | - | - | 1,383 | 4,172 | 2,280 | 1,352 | 1,453 | 3,404 | 1,534 | 709 | 1,942 | 3,299 | 1,263 | - | 785.1 | 1,274 | - | - | - |
| Operating Margin | - | - | 12.44% | 28.5% | 17.79% | 11.98% | 12.11% | 23.66% | 13.89% | 6.86% | 16.37% | 23.97% | 11.46% | - | 7.57% | 10.63% | - | - | - |
| Earnings before Tax (EBT) | - | - | 1,497 | 3,722 | -523 | 601 | 870 | 2,606 | -1,574 | -4,297 | 1,644 | - | - | - | - | - | - | - | - |
| Net income 1 | - | - | 1,161 | 3,291 | -298 | 546 | 611 | 2,178 | -1,887 | -4,569 | 1,337 | 2,000 | 83.94 | - | -305.5 | -201.6 | - | - | - |
| Net margin | - | - | 10.44% | 22.48% | -2.32% | 4.84% | 5.09% | 15.14% | -17.09% | -44.18% | 11.27% | 14.53% | 0.76% | - | -2.94% | -1.68% | - | - | - |
| EPS 2 | - | - | 1.180 | 3.350 | -0.3000 | 0.5600 | 0.6200 | 2.220 | -1.920 | -4.660 | 1.360 | 2.040 | 0.0854 | - | -0.3110 | -0.2052 | - | - | - |
| Dividend per Share 2 | - | - | 2.000 | - | - | - | 2.400 | - | - | - | - | - | 0.0275 | - | 0.0275 | 0.0275 | - | 0.0275 | 0.0275 |
| Announcement Date | 8/4/20 | 2/25/21 | 3/1/22 | 5/10/22 | 8/4/22 | 11/8/22 | 2/28/23 | 5/11/23 | 8/8/23 | 11/8/23 | 3/5/24 | 5/14/24 | - | - | - | - | - | - | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 34,068 | 37,575 | 32,966 | 31,273 | - | 32,400 | 30,166 | 26,632 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.962 x | 3.279 x | 2.949 x | 2.314 x | - | 3.057 x | 2.783 x | 2.423 x |
| Free Cash Flow 1 | 5,557 | 2,485 | 2,478 | 4,144 | - | 3,376 | 4,884 | 4,395 |
| ROE (net income / shareholders' equity) | 13.5% | 16.2% | 20.1% | 8.65% | - | 14.5% | 15% | 13.5% |
| ROA (Net income/ Total Assets) | 3.23% | -8.63% | 0.84% | 3.39% | - | -0.1% | 1.58% | 2.65% |
| Assets 1 | 126,495 | 121,611 | 118,526 | 122,560 | - | -2,479,735 | 204,005 | 131,054 |
| Book Value Per Share 2 | 48.20 | 31.10 | 33.60 | 39.50 | - | 34.50 | 38.30 | 42.30 |
| Cash Flow per Share 2 | 8.360 | 4.990 | 5.180 | 7.220 | - | 5.130 | 8.360 | 8.330 |
| Capex 1 | 2,650 | 2,418 | 2,611 | 2,949 | - | 2,996 | 2,912 | 2,987 |
| Capex / Sales | 6.09% | 5.84% | 5.92% | 5.81% | - | 6.36% | 6.08% | 6.15% |
| Announcement Date | 2/27/20 | 2/25/21 | 3/1/22 | 2/28/23 | 3/5/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
28.58
EUR
Average target price
36.9
EUR
Spread / Average Target
+29.13%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -15.02% | 30.53B | |
| +32.09% | 693B | |
| +29.39% | 584B | |
| -1.34% | 372B | |
| +20.34% | 332B | |
| +7.39% | 294B | |
| +14.25% | 239B | |
| -3.03% | 211B | |
| +10.02% | 210B | |
| +8.49% | 168B |
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