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Pernod Ricard

ENXTPA:RI
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RI
ENXTPA
€44B
Market Cap
  1. Home
  2. FR
  3. Food, Beverage & Tobacco
Company description

Pernod Ricard SA produces and sells wines and spirits worldwide. The last earnings update was 55 days ago. More info.


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RI Share Price and Events
7 Day Returns
-1%
ENXTPA:RI
1.2%
FR Beverage
0%
FR Market
1 Year Returns
19.6%
ENXTPA:RI
20.5%
FR Beverage
18.9%
FR Market
RI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pernod Ricard (RI) -1% 5.6% 3% 19.6% 67.8% 80.3%
FR Beverage 1.2% 5.4% 5.3% 20.5% 60.4% 77.8%
FR Market 0% 4.7% 7.3% 18.9% 35.3% 43.1%
1 Year Return vs Industry and Market
  • RI matched the Beverage industry (20.5%) over the past year.
  • RI matched the France Market (18.9%) over the past year.
Price Volatility
RI
Industry
5yr Volatility vs Market

RI Value

 Is Pernod Ricard undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pernod Ricard to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pernod Ricard.

ENXTPA:RI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:RI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.504 (1 + (1- 33%) (17.05%))
0.706
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.8 * 6.65%)
6.05%

Discounted Cash Flow Calculation for ENXTPA:RI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pernod Ricard is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ENXTPA:RI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.05%)
2020 1,556.67 Analyst x13 1,467.82
2021 1,687.44 Analyst x12 1,500.32
2022 1,837.14 Analyst x7 1,540.19
2023 1,879.00 Analyst x2 1,485.37
2024 2,042.00 Analyst x2 1,522.09
2025 2,131.38 Est @ 4.38% 1,498.04
2026 2,201.37 Est @ 3.28% 1,458.92
2027 2,256.81 Est @ 2.52% 1,410.30
2028 2,301.56 Est @ 1.98% 1,356.18
2029 2,338.57 Est @ 1.61% 1,299.33
Present value of next 10 years cash flows €14,538.00
ENXTPA:RI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €2,338.57 × (1 + 0.73%) ÷ (6.05% – 0.73%)
€44,280.31
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €44,280.31 ÷ (1 + 6.05%)10
€24,602.60
ENXTPA:RI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €14,538.00 + €24,602.60
€39,140.60
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €39,140.60 / 263.83
€148.36
ENXTPA:RI Discount to Share Price
Calculation Result
Value per share (EUR) From above. €148.36
Current discount Discount to share price of €168.00
= -1 x (€168.00 - €148.36) / €148.36
-13.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Pernod Ricard is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pernod Ricard's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pernod Ricard's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:RI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €5.51
ENXTPA:RI Share Price ** ENXTPA (2019-11-20) in EUR €168
France Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 22.11x
France Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.82x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pernod Ricard.

ENXTPA:RI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:RI Share Price ÷ EPS (both in EUR)

= 168 ÷ 5.51

30.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pernod Ricard is overvalued based on earnings compared to the FR Beverage industry average.
  • Pernod Ricard is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Pernod Ricard's expected growth come at a high price?
Raw Data
ENXTPA:RI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
10.5%per year
France Beverage Industry PEG Ratio Median Figure of 5 Publicly-Listed Beverage Companies 2.95x
France Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

ENXTPA:RI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.5x ÷ 10.5%

2.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pernod Ricard is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pernod Ricard's assets?
Raw Data
ENXTPA:RI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €60.60
ENXTPA:RI Share Price * ENXTPA (2019-11-20) in EUR €168
France Beverage Industry PB Ratio Median Figure of 8 Publicly-Listed Beverage Companies 1.11x
France Market PB Ratio Median Figure of 593 Publicly-Listed Companies 1.45x
ENXTPA:RI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:RI Share Price ÷ Book Value per Share (both in EUR)

= 168 ÷ 60.60

2.77x

* Primary Listing of Pernod Ricard.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pernod Ricard is overvalued based on assets compared to the FR Beverage industry average.
X
Value checks
We assess Pernod Ricard's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Pernod Ricard has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RI Future Performance

 How is Pernod Ricard expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pernod Ricard expected to grow at an attractive rate?
  • Pernod Ricard's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Pernod Ricard's earnings growth is positive but not above the France market average.
  • Pernod Ricard's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:RI Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:RI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 10.5%
ENXTPA:RI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 5.7%
France Beverage Industry Earnings Growth Rate Market Cap Weighted Average 10.8%
France Beverage Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
France Market Earnings Growth Rate Market Cap Weighted Average 11.6%
France Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:RI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:RI Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30 12,281 2,555 2,481 4
2023-06-30 11,614 2,364 2,276 4
2022-06-30 10,987 2,271 2,169 12
2021-06-30 10,324 2,122 1,953 16
2020-06-30 9,768 1,930 1,790 16
2019-11-20
ENXTPA:RI Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 9,182 1,701 1,455
2019-03-31 9,076 1,454
2018-12-31 9,235 1,563 1,453
2018-09-30 9,111 1,670 1,515
2018-06-30 8,722 1,776 1,577
2018-03-31 8,804 1,602
2017-12-31 8,886 1,767 1,626
2017-09-30 8,948 1,705 1,510
2017-06-30 9,010 1,642 1,393
2017-03-31 8,898 1,586 1,328
2016-12-31 8,785 1,529 1,263
2016-09-30 8,734 1,433 1,249

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pernod Ricard's earnings are expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
  • Pernod Ricard's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:RI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from Pernod Ricard Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:RI Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30 10.46 10.46 10.46 1.00
2023-06-30 9.03 9.49 8.57 2.00
2022-06-30 8.44 9.06 7.83 7.00
2021-06-30 7.52 8.00 6.72 12.00
2020-06-30 6.79 7.06 6.38 12.00
2019-11-20
ENXTPA:RI Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 5.51
2019-03-31 5.50
2018-12-31 5.50
2018-09-30 5.74
2018-06-30 5.97
2018-03-31 6.06
2017-12-31 6.16
2017-09-30 5.71
2017-06-30 5.27
2017-03-31 5.03
2016-12-31 4.78
2016-09-30 4.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Pernod Ricard is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pernod Ricard's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pernod Ricard has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RI Past Performance

  How has Pernod Ricard performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pernod Ricard's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pernod Ricard's year on year earnings growth rate has been positive over the past 5 years.
  • Pernod Ricard's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pernod Ricard's 1-year earnings growth is negative, it can't be compared to the FR Beverage industry average.
Earnings and Revenue History
Pernod Ricard's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pernod Ricard Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:RI Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 9,182.00 1,455.00 3,073.00
2019-03-31 9,076.00 1,454.00 3,033.00
2018-12-31 9,235.00 1,453.00 3,308.00
2018-09-30 9,111.00 1,515.00 3,284.00
2018-06-30 8,722.00 1,577.00 2,945.00
2018-03-31 8,804.00 1,601.50 3,022.00
2017-12-31 8,886.00 1,626.00 3,099.00
2017-09-30 8,948.00 1,509.50 3,161.00
2017-06-30 9,010.00 1,393.00 3,223.00
2017-03-31 8,897.50 1,328.00 3,174.00
2016-12-31 8,785.00 1,263.00 3,125.00
2016-09-30 8,733.50 1,249.00 3,117.00
2016-06-30 8,682.00 1,235.00 3,109.00
2016-03-31 8,788.50 1,097.00 3,146.50
2015-12-31 8,895.00 959.00 3,184.00
2015-09-30 8,726.50 910.00 3,130.50
2015-06-30 8,558.00 861.00 3,077.00
2015-03-31 8,277.00 918.50 3,003.50
2014-12-31 7,996.00 976.00 2,930.00
2014-09-30 7,970.50 996.00 2,939.00
2014-06-30 7,945.00 1,016.00 2,948.00
2014-03-31 8,091.50 1,085.00 3,001.50
2013-12-31 8,238.00 1,154.00 3,055.00
2013-09-30 8,406.50 1,163.00 3,100.50
2013-06-30 8,575.00 1,172.00 3,146.00
2013-03-31 8,541.50 1,191.00 3,107.00
2012-12-31 8,508.00 1,192.00 3,101.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pernod Ricard has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pernod Ricard used its assets more efficiently than the FR Beverage industry average last year based on Return on Assets.
  • Pernod Ricard has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pernod Ricard's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pernod Ricard has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RI Health

 How is Pernod Ricard's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pernod Ricard's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pernod Ricard is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pernod Ricard's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pernod Ricard's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pernod Ricard Company Filings, last reported 4 months ago.

ENXTPA:RI Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 16,182.00 7,557.00 923.00
2019-03-31 16,182.00 7,557.00 923.00
2018-12-31 15,659.00 8,130.00 910.00
2018-09-30 15,659.00 8,130.00 910.00
2018-06-30 14,978.00 7,718.00 754.00
2018-03-31 14,978.00 7,718.00 754.00
2017-12-31 14,556.00 8,274.00 886.00
2017-09-30 14,556.00 8,274.00 886.00
2017-06-30 13,886.00 8,552.00 677.00
2017-03-31 13,886.00 8,552.00 677.00
2016-12-31 14,021.00 9,692.00 728.00
2016-09-30 14,021.00 9,692.00 728.00
2016-06-30 13,506.00 9,362.00 569.00
2016-03-31 13,506.00 9,362.00 569.00
2015-12-31 13,844.00 9,855.00 524.00
2015-09-30 13,844.00 9,855.00 524.00
2015-06-30 13,288.00 9,631.00 545.00
2015-03-31 13,288.00 9,631.00 545.00
2014-12-31 12,945.00 9,682.00 581.00
2014-09-30 12,945.00 9,682.00 581.00
2014-06-30 11,778.00 8,893.00 477.00
2014-03-31 11,778.00 8,893.00 477.00
2013-12-31 11,629.00 9,275.00 653.00
2013-09-30 11,629.00 9,275.00 653.00
2013-06-30 11,179.00 9,280.00 606.00
2013-03-31 11,351.00 9,521.00 620.00
2012-12-31 11,458.00 10,087.00 878.00
  • Pernod Ricard's level of debt (46.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (75.5% vs 46.7% today).
  • Debt is well covered by operating cash flow (22.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.7x coverage).
X
Financial health checks
We assess Pernod Ricard's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pernod Ricard has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RI Dividends

 What is Pernod Ricard's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.86%
Current annual income from Pernod Ricard dividends. Estimated to be 2.28% next year.
If you bought €2,000 of Pernod Ricard shares you are expected to receive €37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pernod Ricard's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.49%).
  • Pernod Ricard's dividend is below the markets top 25% of dividend payers in France (4.47%).
Upcoming dividend payment

Purchase Pernod Ricard before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:RI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
France Beverage Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 1.8%
France Market Average Dividend Yield Market Cap Weighted Average of 308 Stocks 2.8%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:RI Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-06-30 5.00 2.00
2023-06-30 4.57 2.00
2022-06-30 4.16 11.00
2021-06-30 3.78 15.00
2020-06-30 3.41 16.00
2019-11-20
ENXTPA:RI Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-11-08 3.120 1.841
2019-04-23 2.530 1.567
2018-11-21 2.360 1.595
2018-04-19 2.090 1.513
2017-11-09 2.020 1.534
2017-04-20 1.920 1.610
2016-11-17 1.880 1.771
2016-06-23 1.880 1.819
2015-09-24 1.960 1.966
2015-08-27 1.960 2.147
2015-06-26 1.640 1.556
2014-11-06 1.640 1.590
2014-06-25 1.670 1.911
2013-11-06 1.640 1.941
2013-06-19 1.650 1.848
2012-08-30 1.580 1.743
2012-06-27 1.490 1.734
2011-09-01 1.440 2.007
2011-06-15 1.400 2.156
2010-11-10 1.340 1.986
2010-09-29 1.460 2.315
2010-09-02 1.460 2.443
2010-06-25 1.220 1.958
2009-11-02 0.000 0.000
2009-06-18 1.167 2.317

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pernod Ricard's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Pernod Ricard's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pernod Ricard afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pernod Ricard has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RI Management

 What is the CEO of Pernod Ricard's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Alexandre Ricard
COMPENSATION €4,766,477
AGE 47
TENURE AS CEO 4.8 years
CEO Bio

Mr. Alexandre Ricard has been the Chairman and Chief Executive Officer at Pernod-Ricard SA since February 11, 2015 and serves as its Member of Executive Board. Mr. Ricard has been Executive Director at Pernod-Ricard SA since November 2, 2009. He served as the Chief Operating Officer and Deputy Chief Executive Officer at Pernod-Ricard SA from August 29, 2012 to February 11, 2015. Mr. Ricard served as a Member of Management Board at Société Paul Ricard SA. Mr. Ricard served as the Managing Director of Distribution Network at Pernod-Ricard SA from September 01, 2011 to August 29, 2012. He served as the Chairman and Chief Executive Officer of Irish Distillers Group Limited from July 2008 to 2011. Mr. Ricard joined Pernod-Ricard SA in 2003, after spending seven years in consulting and strategy with Accenture and Merger & Acquisitions with Morgan Stanley, to work for the holding company, as part of the Audit and Development department and was appointed Finance and Administration Director of Irish Distillers at end 2004 and subsequently Managing Director of Pernod Ricard Asia Duty Free in September 2006. He serves as the Director of Martell & Co SA. He serves as Director of Bow Street Investments Ltd. and Fitzgerald & Co. Ltd. He has been a Director of Pernod-Ricard SA since November 2, 2009. He holds MA in International Studies from ESCP Business School and MBA in Finance Entrepreneurship from Wharton University of Pennsylvania.

CEO Compensation
  • Alexandre's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Alexandre's remuneration is higher than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Pernod Ricard management team in years:

3
Average Tenure
51.5
Average Age
  • The tenure for the Pernod Ricard management team is about average.
Management Team

Alexandre Ricard

TITLE
Chairman
COMPENSATION
€5M
AGE
47
TENURE
4.8 yrs

César Giron

TITLE
Director
AGE
57

Hélène de Tissot

TITLE
Member of Executive Board and MD of Finance
TENURE
1.3 yrs

Christian Porta

TITLE
MD of Global Business Development & Member of the Executive Board
AGE
56
TENURE
1.3 yrs

Cédric Ramat

TITLE
EVP of Human Resources

Amanda Hamilton-Stanley

TITLE
General Counsel
TENURE
1.2 yrs

Mathieu Lambotte

TITLE
Group Chief Information Officer
TENURE
5.2 yrs

Julia Massies

TITLE
Vice President of Financial Communication & Investor Relations

Olivier Cavil

TITLE
Group Communications Director
AGE
46
TENURE
10.3 yrs

Eric Benoist

TITLE
Global Marketing & Commercial Director
Board of Directors Tenure

Average tenure and age of the Pernod Ricard board of directors in years:

3.3
Average Tenure
53
Average Age
  • The tenure for the Pernod Ricard board of directors is about average.
Board of Directors

Alexandre Ricard

TITLE
Chairman
COMPENSATION
€5M
AGE
47
TENURE
4.8 yrs

César Giron

TITLE
Director
AGE
57
TENURE
4.3 yrs

Gilles Cambournac

TITLE
Chairman & CEO of Pernod Ricard World Trade Ops

Gilles Bogaert

TITLE
Chairman and CEO of EMEA & LATAM
AGE
50
TENURE
1.3 yrs

Paul Duffy

TITLE
Chairman & CEO of Pernod Ricard North America
AGE
53
TENURE
3.3 yrs

Bruno Rain

TITLE
Chairman & CEO of Pernod Ricard Winemakers
AGE
58
TENURE
3.3 yrs

Philippe Coutin

TITLE
Chairman & CEO of Ricard and Pernod Companies
AGE
54
TENURE
0.5 yrs

Jean-Christophe P. Coutures

TITLE
Chairman & CEO of Chivas Brothers
AGE
52
TENURE
3.3 yrs

Philippe Guettat

TITLE
Chairman & CEO of Pernod Ricard Asia
AGE
55
TENURE
4.3 yrs

Anna Malmhake

TITLE
Chairwoman & CEO of The Absolut Company
AGE
53
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Pernod Ricard's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pernod Ricard has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RI News

Simply Wall St News

Do Institutions Own Pernod Ricard SA (EPA:RI) Shares?

Insider Ownership Of Pernod Ricard While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. … Our information suggests that Pernod Ricard SA insiders own under 1% of the company. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

What To Know Before Buying Pernod Ricard SA (EPA:RI) For Its Dividend

Could Pernod Ricard SA (EPA:RI) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. A slim 1.6% yield is hard to get excited about, but the long payment history is respectable. At the right price, or with strong growth opportunities, Pernod Ricard could have potential. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. We'll run through some checks below to help with this. Click the interactive chart for our full dividend analysis ENXTPA:RI Historical Dividend Yield, August 15th 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Pernod Ricard paid out 46% of its profit as dividends, over the trailing twelve month period. This is a medium payout level that leaves enough capital in the business to fund opportunities that might arise, while also rewarding shareholders. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Pernod Ricard paid out 54% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. It's positive to see that Pernod Ricard's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Pernod Ricard's Balance Sheet Risky? As Pernod Ricard has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Pernod Ricard has grown its earnings per share at 4.3% per annum over the past five years. … Unfortunately, the company has not been able to generate earnings per share growth, and cut its dividend at least once in the past.

Simply Wall St -

Update: Pernod Ricard (EPA:RI) Stock Gained 85% In The Last Five Years

For example, long term Pernod Ricard SA (EPA:RI) shareholders have enjoyed a 85% share price rise over the last half decade, well in excess of the market return of around 38% (not including dividends). … During five years of share price growth, Pernod Ricard achieved compound earnings per share (EPS) growth of 4.6% per year. … As it happens, Pernod Ricard's TSR for the last 5 years was 102%, which exceeds the share price return mentioned earlier.

Simply Wall St -

These 4 Measures Indicate That Pernod Ricard (EPA:RI) Is Using Debt Reasonably Well

Importantly, Pernod Ricard SA (EPA:RI) does carry debt. … ENXTPA:RI Historical Debt, July 9th 2019 A Look At Pernod Ricard's Liabilities The latest balance sheet data shows that Pernod Ricard had liabilities of €4.14b due within a year, and liabilities of €11.0b falling due after that. … Either way, since Pernod Ricard does have more debt than cash, it's worth keeping an eye on its balance sheet.

Simply Wall St -

Should You Be Impressed By Pernod Ricard SA's (EPA:RI) ROE?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Pernod Ricard: 9.4% = €1.5b ÷ €16b (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Pernod Ricard's Debt And Its 9.4% Return On Equity Pernod Ricard has a debt to equity ratio of 0.52, which is far from excessive. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Pernod Ricard SA (EPA:RI) Earns Among The Best Returns In Its Industry

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Pernod Ricard: 0.092 = €2.4b ÷ (€31b - €4.1b) (Based on the trailing twelve months to December 2018.) So, Pernod Ricard has an ROCE of 9.2%. … Pernod Ricard's Current Liabilities And Their Impact On Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Pernod Ricard SA (EPA:RI): Immense Growth Potential?

After Pernod Ricard SA's (EPA:RI) earnings announcement in December 2018, it seems that analyst forecasts are fairly optimistic, as a 20% increase in profits is expected in the upcoming year, relative to the past 5-year average growth rate of 11%. … Check out our latest analysis for Pernod Ricard How will Pernod Ricard perform in the near future? … ENXTPA:RI Past and Future Earnings, June 17th 2019 By 2022, RI's earnings should reach €2.3b, from current levels of €1.6b, resulting in an annual growth rate of 9.5%.

Simply Wall St -

A Look At The Intrinsic Value Of Pernod Ricard SA (EPA:RI)

Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. … Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. … Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €1.43k €1.60k €1.75k €1.84k €2.00k €2.10k €2.18k €2.24k €2.29k €2.33k Growth Rate Estimate Source Analyst x13 Analyst x14 Analyst x10 Analyst x4 Analyst x2 Est @ 5.15% Est @ 3.83% Est @ 2.9% Est @ 2.25% Est @ 1.79% Present Value (€, Millions) Discounted @ 6.05% €1.35k €1.43k €1.47k €1.45k €1.49k €1.48k €1.44k €1.40k €1.35k €1.30k Present Value of 10-year Cash Flow (PVCF)= €14.16b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage.

Simply Wall St -

Here's What We Think About Pernod Ricard SA's (EPA:RI) CEO Pay

Check out our latest analysis for Pernod Ricard How Does Alexandre Ricard's Compensation Compare With Similar Sized Companies? … As you can see, Alexandre Ricard is paid more than the median CEO pay at large companies, in the same market. … We compared the total CEO remuneration paid by Pernod Ricard SA, and compared it to remuneration at a group of other large companies.

Simply Wall St -

Pernod Ricard SA (EPA:RI): Time For A Financial Health Check

At this constant level of debt, the current cash and short-term investment levels stands at €910m to keep the business going. … On top of this, RI has produced cash from operations of €1.6b during the same period of time, resulting in an operating cash to total debt ratio of 19%, signalling that RI’s current level of operating cash is not high enough to cover debt. … At the current liabilities level of €4.1b, it seems that the business has been able to meet these obligations given the level of current assets of €8.8b, with a current ratio of 2.13x.

Simply Wall St -

RI Company Info

Description

Pernod Ricard SA produces and sells wines and spirits worldwide. Its brands include Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm, and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines. The company was founded in 1805 and is headquartered in Paris, France.

Details
Name: Pernod Ricard SA
RI
Exchange: ENXTPA
Founded: 1805
€44,322,614,952
263,825,089
Website: http://www.pernod-ricard.com
Address: Pernod Ricard SA
12, place des États-Unis,
Cedex 16,
Paris,
Ile-de-France, 75783,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA RI Ordinary Shares Euronext Paris FR EUR 02. Jan 1992
OTCPK PDRD.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB PER Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0HAT Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX RI Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
WBAG RI Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE RIP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK PDRD.Y ADR Pink Sheets LLC US USD 14. Oct 2008
Number of employees
Current staff
Staff numbers
19,140
Pernod Ricard employees.
Industry
Distillers and Vintners
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/20 20:42
End of day share price update: 2019/11/20 00:00
Last estimates confirmation: 2019/11/20
Last earnings filing: 2019/09/26
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.