EMMI AG |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 882 CHF | +1.15% |
|
+0.68% | -3.18% |
| Apr. 16 | Emmi Unit Buys Majority Stake in Brazilian Dairy Company Verde Campo | MT |
| Feb. 29 | Emmi AG Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,507 | 4,876 | 5,756 | 4,189 | 4,874 | 4,719 | - | - |
| Enterprise Value (EV) 1 | 4,596 | 5,052 | 6,158 | 4,679 | 4,874 | 4,943 | 4,833 | 4,724 |
| P/E ratio | 27.1 x | 25.9 x | 26.6 x | 22.9 x | 26.2 x | 20.6 x | 19.2 x | 18.4 x |
| Yield | 1.42% | 1.43% | 1.3% | 1.85% | - | 1.91% | 2.07% | 2.23% |
| Capitalization / Revenue | 1.29 x | 1.32 x | 1.47 x | 0.99 x | 1.15 x | 1.13 x | 1.1 x | 1.07 x |
| EV / Revenue | 1.32 x | 1.36 x | 1.57 x | 1.11 x | 1.15 x | 1.18 x | 1.13 x | 1.07 x |
| EV / EBITDA | 13 x | 12.9 x | 15.6 x | 12.3 x | 13 x | 11.7 x | 10.9 x | 10.2 x |
| EV / FCF | 23.4 x | 23.3 x | 60.1 x | 579 x | - | 29.4 x | 22.2 x | 21.9 x |
| FCF Yield | 4.27% | 4.28% | 1.66% | 0.17% | - | 3.4% | 4.5% | 4.57% |
| Price to Book | 2.67 x | 4.33 x | 5.32 x | 3.58 x | - | 3.16 x | 2.83 x | 2.56 x |
| Nbr of stocks (in thousands) | 5,350 | 5,350 | 5,350 | 5,350 | 5,350 | 5,350 | - | - |
| Reference price 2 | 842.5 | 911.5 | 1,076 | 783.0 | 911.0 | 882.0 | 882.0 | 882.0 |
| Announcement Date | 3/2/20 | 3/2/21 | 3/4/22 | 3/1/23 | 2/29/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,494 | 3,706 | 3,912 | 4,230 | 4,242 | 4,193 | 4,295 | 4,395 |
| EBITDA 1 | 352.9 | 390.9 | 394.7 | 379.3 | 375.8 | 421.6 | 445.3 | 462.4 |
| EBIT 1 | 217.8 | 271.2 | 284.1 | 253 | 258.2 | 306.3 | 327 | 342.2 |
| Operating Margin | 6.23% | 7.32% | 7.26% | 5.98% | 6.09% | 7.3% | 7.61% | 7.78% |
| Earnings before Tax (EBT) 1 | 210 | 242.3 | 275.9 | 229.5 | 238.1 | 280.9 | 315.8 | 336.4 |
| Net income 1 | 166.2 | 188.4 | 216.7 | 182.5 | 186.3 | 226.4 | 248.4 | 262.6 |
| Net margin | 4.76% | 5.08% | 5.54% | 4.32% | 4.39% | 5.4% | 5.78% | 5.97% |
| EPS 2 | 31.07 | 35.21 | 40.51 | 34.12 | 34.82 | 42.77 | 45.97 | 47.99 |
| Free Cash Flow 1 | 196 | 216.4 | 102.5 | 8.084 | - | 167.9 | 217.5 | 215.8 |
| FCF margin | 5.61% | 5.84% | 2.62% | 0.19% | - | 4% | 5.06% | 4.91% |
| FCF Conversion (EBITDA) | 55.55% | 55.36% | 25.97% | 2.13% | - | 39.82% | 48.84% | 46.67% |
| FCF Conversion (Net income) | 117.95% | 114.87% | 47.3% | 4.43% | - | 74.16% | 87.57% | 82.18% |
| Dividend per Share 2 | 12.00 | 13.00 | 14.00 | 14.50 | - | 16.88 | 18.25 | 19.62 |
| Announcement Date | 3/2/20 | 3/2/21 | 3/4/22 | 3/1/23 | 2/29/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,831 | - | 1,933 | 1,884 | - | 2,016 | 2,214 | 2,103 | 2,139 | 2,042 | 2,158 | 2,102 |
| EBITDA | 193.4 | - | - | - | - | 163.7 | - | 194.9 | - | - | - | - |
| EBIT 1 | 124.3 | 112 | 159.2 | 129.4 | 154.7 | 108.6 | - | 138.5 | 119.7 | 136.7 | 168.3 | - |
| Operating Margin | 6.79% | - | 8.24% | 6.87% | - | 5.39% | - | 6.59% | 5.6% | 6.69% | 7.8% | - |
| Earnings before Tax (EBT) | 119.5 | - | 138.3 | - | - | 98.24 | - | - | - | - | - | - |
| Net income | 93.26 | - | 57.01 | 98.7 | - | 78.13 | - | 97.81 | - | - | - | - |
| Net margin | 5.09% | - | 2.95% | 5.24% | - | 3.87% | - | 4.65% | - | - | - | - |
| EPS | 17.44 | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/2/20 | 8/26/20 | 3/2/21 | 8/18/21 | 3/4/22 | 8/18/22 | 3/1/23 | 8/18/23 | 2/29/24 | - | - | - |
1CHF in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 89 | 175 | 402 | 490 | - | 224 | 115 | 5.5 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.2522 x | 0.4485 x | 1.018 x | 1.291 x | - | 0.5319 x | 0.2579 x | 0.0119 x |
| Free Cash Flow 1 | 196 | 216 | 102 | 8.08 | - | 168 | 218 | 216 |
| ROE (net income / shareholders' equity) | 10.1% | 16.1% | 19.5% | 16.2% | - | 14.6% | 13.9% | 13.1% |
| ROA (Net income/ Total Assets) | - | 7.98% | - | - | - | - | - | - |
| Assets 1 | - | 2,360 | - | - | - | - | - | - |
| Book Value Per Share 2 | 316.0 | 211.0 | 202.0 | 219.0 | - | 279.0 | 311.0 | 345.0 |
| Cash Flow per Share 2 | 56.70 | 64.00 | 48.60 | 38.90 | - | 78.00 | 81.60 | 85.70 |
| Capex 1 | 107 | 126 | 157 | 205 | - | 168 | 160 | 165 |
| Capex / Sales | 3.07% | 3.4% | 4.02% | 4.84% | - | 4.02% | 3.72% | 3.76% |
| Announcement Date | 3/2/20 | 3/2/21 | 3/4/22 | 3/1/23 | 2/29/24 | - | - | - |
1CHF in Million2CHF
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
5
Last Close Price
882
CHF
Average target price
990.8
CHF
Spread / Average Target
+12.34%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -3.18% | 5.16B | |
| +4.71% | 24.52B | |
| -23.24% | 8.1B | |
| -4.24% | 6.82B | |
| +8.16% | 6.26B | |
| -3.85% | 5.36B | |
| +19.79% | 4.98B | |
| +1.41% | 5.02B | |
| +22.01% | 4.53B | |
| -3.99% | 2.92B |
- Stock Market
- Equities
- EMMN Stock
- Financials Emmi AG
