Financials Paramount Global Nasdaq

Equities

PARAA

US92556H1077

Broadcasting

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
22.37 ^USD	0.00%		-1.97%	+13.78%

Apr. 26	Telecoms Climb After Alphabet, Snap Earnings - Communications Services Roundup	DJ
Apr. 26	Sector Update: Consumer Stocks Mixed in Late Afternoon Trading	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	25,962	23,028	19,669	11,069	9,833	8,363	-	-
Enterprise Value (EV) ¹	44,049	39,777	31,111	11,069	21,975	20,510	20,643	19,732
P/E ratio	7.83 x	9.51 x	4.35 x	10.5 x	-14.5 x	63.4 x	9.02 x	6.73 x
Yield	1.86%	2.58%	3.18%	-	2.64%	1.68%	1.68%	1.68%
Capitalization / Revenue	0.93 x	0.91 x	0.69 x	0.37 x	0.33 x	0.27 x	0.27 x	0.26 x
EV / Revenue	1.58 x	1.57 x	1.09 x	0.37 x	0.74 x	0.67 x	0.66 x	0.62 x
EV / EBITDA	7.96 x	7.75 x	7 x	3.38 x	9.19 x	7.45 x	7.08 x	6.11 x
EV / FCF	50.2 x	20.2 x	51.9 x	-	392 x	109 x	35.5 x	25.3 x
FCF Yield	1.99%	4.95%	1.93%	-	0.25%	0.92%	2.81%	3.95%
Price to Book	1.95 x	1.5 x	0.86 x	-	0.43 x	0.34 x	0.34 x	0.32 x
Nbr of stocks (in thousands)	615,000	617,246	647,414	649,174	651,406	666,471	-	-
Reference price ²	41.97	37.26	30.18	16.88	14.79	11.91	11.91	11.91
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	27,812	25,285	28,586	30,154	29,652	30,781	31,163	31,803
EBITDA ¹	5,531	5,132	4,444	3,276	2,390	2,752	2,915	3,232
EBIT ¹	5,088	4,702	4,054	2,871	1,972	2,336	2,444	2,884
Operating Margin	18.29%	18.6%	14.18%	9.52%	6.65%	7.59%	7.84%	9.07%
Earnings before Tax (EBT) ¹	3,345	3,147	5,206	1,266	-1,253	790.8	1,588	1,877
Net income ¹	3,308	2,422	4,543	1,104	-608	144.3	852.8	1,141
Net margin	11.89%	9.58%	15.89%	3.66%	-2.05%	0.47%	2.74%	3.59%
EPS ²	5.360	3.920	6.940	1.610	-1.020	0.1878	1.320	1.771
Free Cash Flow ¹	877	1,970	599	-	56	188.5	581	780.2
FCF margin	3.15%	7.79%	2.1%	-	0.19%	0.61%	1.86%	2.45%
FCF Conversion (EBITDA)	15.86%	38.39%	13.48%	-	2.34%	6.85%	19.93%	24.14%
FCF Conversion (Net income)	26.51%	81.34%	13.19%	-	-	130.65%	68.13%	68.41%
Dividend per Share ²	0.7800	0.9600	0.9600	-	0.3900	0.2000	0.2000	0.1999
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	6,610	8,000	7,328	7,779	6,916	8,131	7,265	7,616	7,133	7,638	7,743	7,400	7,319	8,325	7,420
EBITDA ¹	1,020	557	913	963	786	614	548	606	716	520	739.8	602.2	768	645.2	656.1
EBIT ¹	925	456	817	869	694	491	448	501	611	412	648.2	452.8	649.3	569.8	-
Operating Margin	13.99%	5.7%	11.15%	11.17%	10.03%	6.04%	6.17%	6.58%	8.57%	5.39%	8.37%	6.12%	8.87%	6.84%	-
Earnings before Tax (EBT) ¹	616	2,417	470	519	323	-46	-1,463	-349	376	183	-250.7	284.2	429.3	272	346.6
Net income ¹	538	2,058	433	419	231	21	-1,118	-299	295	514	-359.2	121.8	241.2	109.3	193.7
Net margin	8.14%	25.72%	5.91%	5.39%	3.34%	0.26%	-15.39%	-3.93%	4.14%	6.73%	-4.64%	1.65%	3.3%	1.31%	2.61%
EPS ²	0.8100	3.110	0.6400	0.6200	0.3300	0.0100	-1.740	-0.4800	0.4300	0.7700	-0.4958	0.1211	0.3359	0.2436	0.3025
Dividend per Share ²	0.2400	0.2400	0.2400	0.2400	0.2400	-	0.2400	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500
Announcement Date	11/4/21	2/15/22	5/3/22	8/4/22	11/2/22	2/16/23	5/4/23	8/7/23	11/2/23	2/28/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	18,087	16,749	11,442	-	12,142	12,147	12,280	11,369
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.27 x	3.264 x	2.575 x	-	5.08 x	4.414 x	4.212 x	3.518 x
Free Cash Flow ¹	877	1,970	599	-	56	189	581	780
ROE (net income / shareholders' equity)	26.1%	18.2%	12.1%	-	1.76%	2.49%	3.29%	4.51%
ROA (Net income/ Total Assets)	6.57%	5.08%	4.12%	-	-1.09%	1.92%	2.01%	2.71%
Assets ¹	50,324	47,715	110,288	-	55,970	7,502	42,346	42,074
Book Value Per Share ²	21.50	24.90	34.90	-	34.50	34.70	35.50	37.00
Cash Flow per Share ²	1.990	3.710	1.450	-	0.5900	0.7200	1.210	1.920
Capex ¹	353	324	354	-	328	334	354	366
Capex / Sales	1.27%	1.28%	1.24%	-	1.11%	1.09%	1.14%	1.15%
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Paramount Global

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

11.91 USD

Average target price

13.26 USD

Spread / Average Target

+11.34%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Broadcasting

	1st Jan change	Capi.
WALT DISNEY COMPANY (THE)	+24.85%	207B
FORMULA ONE GROUP	+9.98%	16.08B
THE LIBERTY SIRIUSXM GROUP	-15.67%	7.93B
MBC GROUP	0.00%	4.58B
TBS HOLDINGS,INC.	+37.01%	4.24B
ITV PLC	+11.41%	3.5B
LIBERTY LIVE GROUP	+0.19%	3.4B
MULTICHOICE GROUP LIMITED	+46.62%	2.68B
FUJI MEDIA HOLDINGS, INC.	+18.46%	2.55B

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