Projected Income Statement: LVMH

Forecast Balance Sheet: LVMH

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 9,607 27,847 30,671 31,143 27,567 23,776 20,339 16,820
Change - 189.86% 10.14% 1.54% -11.48% -13.75% -14.46% -17.3%
Announcement Date 27/01/22 26/01/23 25/01/24 28/01/25 27/01/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: LVMH

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 2,664 4,969 7,478 5,531 4,567 4,705 4,743 4,956
Change - 86.52% 50.49% -26.04% -17.43% 3.03% 0.8% 4.5%
Free Cash Flow (FCF) 1 13,531 10,113 8,104 10,478 11,333 11,497 13,122 13,801
Change - -25.26% -19.87% 29.29% 8.16% 1.45% 14.13% 5.18%
Announcement Date 27/01/22 26/01/23 25/01/24 28/01/25 27/01/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: LVMH

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 35.79% 34.45% 34.8% 32.32% 31.87% 30.2% 30.82% 31.24%
EBIT Margin (%) 26.71% 26.59% 26.47% 23.11% 21.97% 21.83% 22.45% 22.9%
EBT Margin (%) 26.8% 25.4% 25.1% 21.39% 20.66% 21.02% 21.62% 22.12%
Net margin (%) 18.74% 17.79% 17.61% 14.82% 13.46% 13.86% 14.8% 15.47%
FCF margin (%) 21.07% 12.77% 9.41% 12.37% 14.02% 14.21% 15.4% 15.3%
FCF / Net Income (%) 112.42% 71.8% 53.41% 83.49% 104.18% 102.47% 104.1% 98.92%

Profitability

        
ROA 10.29% 10.84% 10.9% 12.37% 7.47% 7.99% 8.68% 9.4%
ROE 28.48% 27.55% 26.13% 27.88% 16.12% 15.84% 16.6% 16.93%

Financial Health

        
Leverage (Debt/EBITDA) 0.42x 1.02x 1.02x 1.14x 1.07x 0.97x 0.77x 0.6x
Debt / Free cash flow 0.71x 2.75x 3.78x 2.97x 2.43x 2.07x 1.55x 1.22x

Capital Intensity

        
CAPEX / Current Assets (%) 4.15% 6.28% 8.68% 6.53% 5.65% 5.81% 5.57% 5.49%
CAPEX / EBITDA (%) 11.59% 18.21% 24.94% 20.21% 17.73% 19.26% 18.06% 17.59%
CAPEX / FCF (%) 19.69% 49.13% 92.28% 52.79% 40.3% 40.93% 36.15% 35.91%

Items per share

        
Cash flow per share 1 37.01 35.49 36.78 37.87 37.9 34.58 38.52 38.76
Change - -4.1% 3.63% 2.98% 0.08% -8.77% 11.41% 0.62%
Dividend per Share 1 7 12 13 13 13 13.09 14.12 15.16
Change - 71.43% 8.33% 0% 0% 0.71% 7.84% 7.35%
Book Value Per Share 1 93.56 109.8 122.2 135.1 135.5 144.2 156.7 169.1
Change - 17.31% 11.29% 10.62% 0.28% 6.42% 8.64% 7.97%
EPS 1 23.89 28.03 30.33 25.12 21.85 22.48 25.41 28.13
Change - 17.33% 8.21% -17.18% -13.02% 2.9% 13.03% 10.68%
Nbr of stocks (in thousands) 503,785 501,103 499,410 499,744 495,126 493,099 493,099 493,099
Announcement Date 27/01/22 26/01/23 25/01/24 28/01/25 27/01/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 19.5x 17.3x
PBR 3.04x 2.8x
EV / Sales 2.97x 2.78x
Yield 2.98% 3.22%

EPS & Dividend



Y-o-Y evolution of P/E

 

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
439.00EUR
Average target price
566.00EUR
Spread / Average Target
+28.93%

Quarterly revenue - Rate of surprise