Company Valuation: Lindt

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,923 21,980 23,697 23,214 26,775 19,488 - -
Change - -26.54% 7.81% -2.04% 15.34% -27.22% - -
Enterprise Value (EV) 1 30,217 22,552 24,640 23,863 27,872 20,511 20,445 20,396
Change - -25.37% 9.26% -3.15% 16.8% -26.41% -0.32% -0.24%
P/E 60.5x 39.8x 35.7x 34.5x 37.1x 27.2x 25.4x 23.6x
PBR 5.6x 5.09x 5.63x 4.79x 5.44x 3.91x 3.74x 3.56x
PEG - 2.2x 1.8x 25.55x 4.5x 28.72x 3.49x 3.2x
Capitalization / Revenue 6.53x 4.42x 4.56x 4.25x 4.53x 3.27x 3.15x 2.99x
EV / Revenue 6.59x 4.54x 4.74x 4.36x 4.71x 3.44x 3.31x 3.13x
EV / EBITDA 32.8x 22.2x 22.5x 20.2x 21.9x 15.9x 15x 14.1x
EV / EBIT 46.9x 30.3x 30.3x 27x 28.7x 20.8x 19.6x 18.3x
EV / FCF 51.6x 42.9x 51.6x 27.4x 148x 25.1x 26.9x 26.5x
FCF Yield 1.94% 2.33% 1.94% 3.65% 0.67% 3.98% 3.71% 3.77%
Dividend per Share 2 1,200 1,300 1,400 1,500 1,800 1,866 1,990 2,099
Rate of return 0.98% 1.37% 1.37% 1.5% 1.55% 2.16% 2.31% 2.43%
EPS 2 2,019 2,387 2,859 2,898 3,137 3,167 3,397 3,648
Distribution rate 59.4% 54.5% 49% 51.8% 57.4% 58.9% 58.6% 57.5%
Net sales 1 4,586 4,970 5,201 5,468 5,916 5,954 6,185 6,514
EBITDA 1 921.5 1,018 1,094 1,182 1,271 1,292 1,364 1,450
EBIT 1 644.9 744.6 813.1 884.2 971 984.1 1,045 1,114
Net income 1 490.5 569.7 671.4 672.3 727.2 728.2 772 823.6
Net Debt 1 294.7 571.3 943.3 649.4 1,096 1,023 957.2 908.6
Reference price 2 122,200.00 95,000.00 102,000.00 100,000.00 116,400.00 86,200.00 86,200.00 86,200.00
Nbr of stocks (in thousands) 241 232 233 231 230 229.2 - -
Announcement Date 08/03/22 07/03/23 05/03/24 04/03/25 10/03/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.77x3.26x15.03x2.29% 21.93B
20.74x2.82x14.07x3.98% 242B
19.47x2.5x14.93x3.29% 79.86B
16.31x1.69x9.58x3.89% 43.13B
15.47x0.55x9.88x2.49% 40.31B
19.88x3.04x12.35x3.52% 33B
37.24x3.21x18.7x1% 32.69B
26x5.41x17.23x3.22% 29.52B
64.13x9.84x40.83x1.19% 28.05B
-8x1.78x8.89x7.07% 26.92B
Average 23.70x 3.41x 16.15x 3.19% 57.73B
Weighted average by Cap. 21.98x 3.01x 14.98x 3.48%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lindt

Historical PBR trend

Valuation ratios - PBR - Lindt

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lindt

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lindt


Year-on-year evolution of the Yield

Valuation ratios - Yield - Lindt