Projected Income Statement: GSK plc

Forecast Balance Sheet: GSK plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 19,838 17,197 15,040 13,095 14,453 12,125 9,366 7,593
Change - -13.31% -12.54% -12.93% 10.37% -16.11% -22.75% -18.93%
Announcement Date 2/9/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/4/26 A - - -
1GBP in Million
Estimates

Cash Flow Forecast: GSK plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,172 1,143 1,314 1,334 1,324 1,492 1,555 1,603
Change - -2.47% 14.96% 1.52% -0.75% 12.72% 4.19% 3.09%
Free Cash Flow (FCF) 1 4,437 6,260 5,454 5,220 6,417 6,324 6,344 7,098
Change - 41.09% -12.88% -4.29% 22.93% -1.45% 0.32% 11.88%
Announcement Date 2/9/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/4/26 A - - -
1GBP in Million
Estimates

Forecast Financial Ratios: GSK plc

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

Profitability

        
EBITDA Margin (%) 33.21% 35.63% 38.36% 34.08% 34.52% 34.01% 34.46% 34.18%
EBIT Margin (%) 25.81% 27.8% 28.97% 29.16% 29.95% 30.21% 31.1% 31.87%
EBT Margin (%) 15.95% 19.19% 19.99% 11.08% 22.66% 24.22% 25.49% 27.47%
Net margin (%) 12.85% 51% 16.25% 8.21% 17.5% 18.66% 18.97% 19.78%
FCF margin (%) 13.01% 21.35% 17.98% 16.64% 19.64% 18.62% 17.83% 19.4%
FCF / Net Income (%) 101.19% 41.86% 110.67% 202.72% 112.26% 99.78% 94% 98.08%

Profitability

        
ROA 5.5% 8.08% 10.55% 10.97% 9.48% 10.84% 10.75% 10.63%
ROE 38.22% 43.85% 52.48% 48.09% 46.39% 37.85% 34.25% 29.69%

Financial Health

        
Leverage (Debt/EBITDA) 1.75x 1.65x 1.29x 1.22x 1.28x 1.05x 0.76x 0.61x
Debt / Free cash flow 4.47x 2.75x 2.76x 2.51x 2.25x 1.92x 1.48x 1.07x

Capital Intensity

        
CAPEX / Current Assets (%) 3.44% 3.9% 4.33% 4.25% 4.05% 4.39% 4.37% 4.38%
CAPEX / EBITDA (%) 10.34% 10.94% 11.29% 12.48% 11.74% 12.92% 12.69% 12.82%
CAPEX / FCF (%) 26.41% 18.26% 24.09% 25.56% 20.63% 23.6% 24.51% 22.59%

Items per share

        
Cash flow per share 1 1.962 1.813 1.67 1.608 1.88 1.899 1.98 2.058
Change - -7.63% -7.86% -3.75% 16.96% 1.02% 4.26% 3.91%
Dividend per Share 1 1 0.6125 0.58 0.61 0.66 0.6987 0.7589 0.7606
Change - -38.75% -5.31% 5.17% 8.2% 5.87% 8.61% 0.22%
Book Value Per Share 1 3.758 2.627 3.294 3.353 - 4.827 5.72 6.465
Change - -30.09% 25.38% 1.8% - - 18.5% 13.01%
EPS 1 1.082 3.662 1.216 0.632 1.411 1.581 1.689 1.807
Change - 238.29% -66.79% -48.03% 123.26% 12.05% 6.83% 6.98%
Nbr of stocks (in thousands) 4,006,383 4,060,999 4,076,145 4,080,519 4,012,126 3,994,878 3,994,878 3,994,878
Announcement Date 2/9/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/4/26 A - - -
1GBP
Estimates
2026 *2027 *
P/E ratio 13.4x 12.6x
PBR 4.4x 3.71x
EV / Sales 2.85x 2.65x
Yield 3.29% 3.57%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
22
Last Close Price
21.23GBP
Average target price
20.48GBP
Spread / Average Target
-3.51%

Quarterly revenue - Rate of surprise