SULZER LTD |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 110.6 CHF | +1.47% |
|
+1.28% | +28.75% |
| Apr. 15 | Swiss Fluid Engineering Group Sulzer's Fiscal Q1 Order Intake Falls | MT |
| Mar. 16 | Balrampur Chini Mills Limited Inks Agreements with Sulzer AG | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,678 | 3,164 | 3,036 | 2,438 | 2,915 | 3,740 | - | - |
| Enterprise Value (EV) 1 | 4,025 | 3,578 | 3,103 | 2,673 | 2,915 | 4,161 | 4,034 | 3,902 |
| P/E ratio | 24.1 x | 38.2 x | 2.18 x | 86.7 x | 12.9 x | 14.4 x | 13.7 x | 12.9 x |
| Yield | 3.7% | 4.3% | 3.9% | 4.86% | - | 3.53% | 3.71% | 3.9% |
| Capitalization / Revenue | 0.99 x | 0.95 x | 0.96 x | 0.77 x | 0.89 x | 1.09 x | 1.05 x | 1.01 x |
| EV / Revenue | 1.08 x | 1.08 x | 0.98 x | 0.84 x | 0.89 x | 1.21 x | 1.13 x | 1.06 x |
| EV / EBITDA | 8.49 x | 10.9 x | 7.04 x | 9.87 x | 6.66 x | 8.63 x | 7.99 x | 7.4 x |
| EV / FCF | 19.7 x | 13.2 x | 13 x | 54.2 x | - | 19.3 x | 13.7 x | 12.4 x |
| FCF Yield | 5.09% | 7.57% | 7.69% | 1.84% | - | 5.19% | 7.31% | 8.05% |
| Price to Book | 2.32 x | 2.24 x | 2.38 x | 2.37 x | - | 3.09 x | 2.76 x | 2.48 x |
| Nbr of stocks (in thousands) | 34,056 | 33,981 | 33,788 | 33,862 | 33,934 | 33,811 | - | - |
| Reference price 2 | 108.0 | 93.10 | 89.85 | 72.00 | 85.90 | 110.6 | 110.6 | 110.6 |
| Announcement Date | 2/19/20 | 2/24/21 | 2/18/22 | 2/20/23 | 2/22/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,728 | 3,319 | 3,155 | 3,180 | 3,282 | 3,445 | 3,578 | 3,686 |
| EBITDA 1 | 473.9 | 328.1 | 441 | 270.7 | 437.9 | 482.2 | 505.1 | 527.3 |
| EBIT 1 | 241 | 150.6 | 221.8 | 111.4 | 329.7 | 378.2 | 400 | 421.8 |
| Operating Margin | 6.46% | 4.54% | 7.03% | 3.5% | 10.05% | 10.98% | 11.18% | 11.44% |
| Earnings before Tax (EBT) 1 | 212.8 | 121.8 | 197.9 | 107 | 304.3 | 341.4 | 336.5 | 346.3 |
| Net income 1 | 154 | 83.6 | 1,417 | 28.6 | 229.1 | 263.1 | 277.2 | 294.3 |
| Net margin | 4.13% | 2.52% | 44.9% | 0.9% | 6.98% | 7.64% | 7.75% | 7.98% |
| EPS 2 | 4.480 | 2.440 | 41.28 | 0.8300 | 6.670 | 7.671 | 8.083 | 8.579 |
| Free Cash Flow 1 | 204.7 | 270.7 | 238.7 | 49.3 | - | 216 | 295 | 314 |
| FCF margin | 5.49% | 8.16% | 7.57% | 1.55% | - | 6.27% | 8.25% | 8.52% |
| FCF Conversion (EBITDA) | 43.19% | 82.51% | 54.13% | 18.21% | - | 44.8% | 58.4% | 59.55% |
| FCF Conversion (Net income) | 132.92% | 323.8% | 16.85% | 172.38% | - | 82.09% | 106.41% | 106.7% |
| Dividend per Share 2 | 4.000 | 4.000 | 3.500 | 3.500 | - | 3.900 | 4.100 | 4.312 |
| Announcement Date | 2/19/20 | 2/24/21 | 2/18/22 | 2/20/23 | 2/22/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,955 | 1,598 | 1,720 | 1,723 | 1,517 | 1,602 | 1,680 |
| EBITDA | - | - | - | - | - | - | - |
| EBIT | 137 | 120.2 | - | 129 | -25.5 | 151.5 | - |
| Operating Margin | 7.01% | 7.52% | - | 7.49% | -1.68% | 9.46% | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | 166.7 |
| Net income | - | - | - | 86 | -48.3 | 103.9 | - |
| Net margin | - | - | - | 4.99% | -3.18% | 6.49% | - |
| EPS | - | - | - | 2.510 | -1.430 | 3.030 | - |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 2/19/20 | 7/24/20 | 2/24/21 | 7/22/21 | 7/29/22 | 7/25/23 | 2/22/24 |
1CHF in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 347 | 415 | 66.8 | 235 | - | 421 | 295 | 162 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.732 x | 1.263 x | 0.1515 x | 0.8666 x | - | 0.8741 x | 0.5837 x | 0.3072 x |
| Free Cash Flow 1 | 205 | 271 | 239 | 49.3 | - | 216 | 295 | 314 |
| ROE (net income / shareholders' equity) | 9.59% | 5.6% | 14.4% | 18.6% | - | 22.2% | 21.7% | 20.8% |
| ROA (Net income/ Total Assets) | - | - | 3.72% | 4.44% | - | - | - | - |
| Assets 1 | - | - | 38,068 | 644.4 | - | - | - | - |
| Book Value Per Share 2 | 46.50 | 41.50 | 37.80 | 30.40 | - | 35.80 | 40.10 | 44.50 |
| Cash Flow per Share 2 | 9.310 | 10.90 | 9.200 | 3.520 | - | 13.20 | 14.10 | 15.00 |
| Capex 1 | 115 | 98 | 79.2 | 69.9 | - | 68.7 | 74.3 | 81.7 |
| Capex / Sales | 3.08% | 2.95% | 2.51% | 2.2% | - | 1.99% | 2.08% | 2.22% |
| Announcement Date | 2/19/20 | 2/24/21 | 2/18/22 | 2/20/23 | 2/22/24 | - | - | - |
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
110.6
CHF
Average target price
123.8
CHF
Spread / Average Target
+11.93%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +28.75% | 4.09B | |
| +11.73% | 82.35B | |
| +20.17% | 71.09B | |
| +20.89% | 37.72B | |
| +15.77% | 32.01B | |
| +9.19% | 27.2B | |
| +3.18% | 26.74B | |
| +4.22% | 26B | |
| +16.93% | 25.5B | |
| +17.14% | 24.76B |
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