Company Valuation: Bayer AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 46,174 47,476 33,039 18,975 36,360 47,991 - -
Change - 2.82% -30.41% -42.57% 91.62% 31.99% - -
Enterprise Value (EV) 1 79,140 78,749 67,302 51,329 82,696 77,946 74,823 71,553
Change - -0.49% -14.54% -23.73% 61.11% -5.74% -4.01% -4.37%
P/E 46.1x 11.5x -11.2x -7.43x -10.1x 22.1x 15.9x 13.8x
PBR 1.4x 1.22x 1x 0.59x 1.4x 1.7x 1.55x 1.41x
PEG - 0x 0x 0.6x -0.2x -0x 0.4x 0.9x
Capitalization / Revenue 1.05x 0.94x 0.69x 0.41x 0.8x 1.05x 1.02x 0.99x
EV / Revenue 1.8x 1.55x 1.41x 1.1x 1.81x 1.7x 1.59x 1.47x
EV / EBITDA 7.08x 5.83x 5.75x 5.07x 8.55x 8.04x 7.26x 6.46x
EV / EBIT 10.8x 8.51x 8.87x 9.44x 16.2x 13.8x 11.6x 10.2x
EV / FCF 31.9x 19x 28.4x 11.2x 24x -130x 20.9x 17.2x
FCF Yield 3.13% 5.26% 3.52% 8.94% 4.16% -0.77% 4.79% 5.8%
Dividend per Share 2 2 2.4 0.11 0.11 0.11 0.16 0.558 0.9835
Rate of return 4.26% 4.97% 0.33% 0.57% 0.3% 0.33% 1.14% 2.01%
EPS 2 1.02 4.22 -2.99 -2.6 -3.68 2.206 3.072 3.544
Distribution rate 196% 56.9% -3.68% -4.23% -2.99% 7.25% 18.2% 27.8%
Net sales 1 44,081 50,739 47,637 46,606 45,575 45,771 47,005 48,589
EBITDA 1 11,179 13,513 11,706 10,123 9,669 9,692 10,301 11,080
EBIT 1 7,295 9,257 7,589 5,436 5,108 5,643 6,436 7,027
Net income 1 1,000 4,150 -2,941 -2,552 -3,620 2,136 2,941 3,468
Net Debt 1 32,966 31,273 34,263 32,354 46,336 29,955 26,831 23,562
Reference price 2 47.00 48.32 33.63 19.31 37.01 48.85 48.85 48.85
Nbr of stocks (in thousands) 982,424 982,424 982,424 982,424 982,424 982,424 - -
Announcement Date 01/03/22 28/02/23 05/03/24 04/03/25 04/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.72x11.9x24.26x0.6% 1,024B
30.62x - - 1.95% 663B
32.73x7.6x15.8x2.67% 453B
19.89x4.73x11.71x2.8% 352B
22.72x5.84x14.51x2.7% 304B
20.87x4.29x12.24x2.06% 252B
27.66x7.14x13.15x2.31% 236B
13.33x4.82x10.06x3.78% 206B
-46.14x6.65x25.95x2.18% 187B
Average 17.16x 6.62x 15.96x 2.34% 408.71B
Weighted average by Cap. 24.05x 7.99x 17.80x 1.95%

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