Financials Berry Global Group, Inc.

Equities

BERY

US08579W1036

Non-Paper Containers & Packaging

Market Closed - Nyse Other stock markets 04:00:02 2024-05-10 pm EDT			5-day change	1st Jan Change
59.89 ^USD	+0.20%		+1.75%	-11.13%

May. 09	Transcript : Berry Global Group, Inc., Q2 2024 Earnings Call, May 09, 2024
May. 09	Berry Global Group's Fiscal Q2 Adjusted Earnings, Net Sales Decline	MT

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,188	6,407	8,237	5,821	7,312	6,851	-	-
Enterprise Value (EV) ¹	15,803	15,894	16,606	13,666	15,089	14,157	13,765	13,162
P/E ratio	13.1 x	11.7 x	11.5 x	8.06 x	12.5 x	11.1 x	9.19 x	8.34 x
Yield	-	-	-	-	1.66%	1.83%	1.88%	1.99%
Capitalization / Revenue	0.58 x	0.55 x	0.59 x	0.4 x	0.58 x	0.55 x	0.54 x	0.53 x
EV / Revenue	1.78 x	1.36 x	1.2 x	0.94 x	1.19 x	1.14 x	1.09 x	1.01 x
EV / EBITDA	10.3 x	7.37 x	7.47 x	6.5 x	7.35 x	6.8 x	6.39 x	5.91 x
EV / FCF	20.7 x	16.8 x	18.4 x	15.6 x	16.3 x	17 x	15.1 x	13.3 x
FCF Yield	4.83%	5.96%	5.44%	6.41%	6.14%	5.9%	6.61%	7.52%
Price to Book	3.19 x	3.09 x	2.65 x	1.81 x	2.37 x	1.9 x	1.72 x	1.56 x
Nbr of stocks (in thousands)	132,100	132,600	135,300	125,100	118,100	114,400	-	-
Reference price ²	39.27	48.32	60.88	46.53	61.91	59.89	59.89	59.89
Announcement Date	11/21/19	11/19/20	11/18/21	11/15/22	11/16/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,878	11,709	13,850	14,495	12,664	12,377	12,683	13,014
EBITDA ¹	1,530	2,157	2,224	2,101	2,053	2,082	2,154	2,228
EBIT ¹	945	1,337	1,394	1,282	1,235	1,210	1,290	1,356
Operating Margin	10.64%	11.42%	10.06%	8.84%	9.75%	9.78%	10.17%	10.42%
Earnings before Tax (EBT) ¹	490	713	905	934	742	737.7	949.7	1,018
Net income ¹	404	559	733	766	609	628.6	743.6	808.2
Net margin	4.55%	4.77%	5.29%	5.28%	4.81%	5.08%	5.86%	6.21%
EPS ²	3.000	4.140	5.300	5.770	4.950	5.402	6.516	7.179
Free Cash Flow ¹	764	947	904	876	926	834.9	909.3	990.4
FCF margin	8.61%	8.09%	6.53%	6.04%	7.31%	6.75%	7.17%	7.61%
FCF Conversion (EBITDA)	49.93%	43.9%	40.65%	41.69%	45.1%	40.1%	42.22%	44.45%
FCF Conversion (Net income)	189.11%	169.41%	123.33%	114.36%	152.05%	132.82%	122.29%	122.53%
Dividend per Share ²	-	-	-	-	1.025	1.095	1.123	1.190
Announcement Date	11/21/19	11/19/20	11/18/21	11/15/22	11/16/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	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	2025 Q2	2025 Q3
Net sales ¹	3,573	3,775	3,726	3,421	3,060	3,288	3,229	3,087	2,853	3,076	3,266	3,180	3,002	3,286	3,335
EBITDA ¹	457	555	550	539	443	541	522	547	431	522	552.1	571.8	455.2	542.9	582.8
EBIT ¹	246	349	347	340	244	341	315	335	217	301	340.5	359.3	-	-	-
Operating Margin	6.88%	9.25%	9.31%	9.94%	7.97%	10.37%	9.76%	10.85%	7.61%	9.79%	10.43%	11.3%	-	-	-
Earnings before Tax (EBT) ¹	158	264	259	253	138	221	178	205	73	131	231.2	262.6	-	-	-
Net income ¹	121	205	207	233	106	174	143	186	59	116	186.3	203.9	127.2	216.3	225.4
Net margin	3.39%	5.43%	5.56%	6.81%	3.46%	5.29%	4.43%	6.03%	2.07%	3.77%	5.71%	6.41%	4.24%	6.58%	6.76%
EPS ²	0.8700	1.500	1.580	1.850	0.8500	1.420	1.180	1.550	0.5000	0.9800	1.595	1.791	1.066	1.764	1.906
Dividend per Share ²	-	-	-	-	0.2500	0.2500	0.2500	0.2750	-	-	0.2775	0.2875	0.2750	0.2750	0.2750
Announcement Date	2/3/22	5/5/22	8/3/22	11/15/22	2/2/23	5/4/23	8/9/23	11/16/23	2/7/24	5/9/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10,615	9,487	8,369	7,845	7,777	7,306	6,913	6,311
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	6.938 x	4.398 x	3.763 x	3.734 x	3.788 x	3.509 x	3.21 x	2.833 x
Free Cash Flow ¹	764	947	904	876	926	835	909	990
ROE (net income / shareholders' equity)	26.5%	30.1%	15.2%	30.8%	28.5%	25.1%	25.2%	24.6%
ROA (Net income/ Total Assets)	3.16%	3.37%	4.64%	5.64%	5.44%	6.9%	6.46%	6.01%
Assets ¹	12,800	16,585	15,801	13,577	11,191	9,110	11,514	13,448
Book Value Per Share ²	12.30	15.70	23.00	25.70	26.10	31.50	34.80	38.40
Cash Flow per Share ²	8.920	11.30	11.40	11.80	13.10	11.10	12.70	-
Capex ¹	399	583	676	687	689	555	589	584
Capex / Sales	4.49%	4.98%	4.88%	4.74%	5.44%	4.48%	4.65%	4.49%
Announcement Date	11/21/19	11/19/20	11/18/21	11/15/22	11/16/23	-	-	-

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 Berry Global Group, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

59.89 USD

Average target price

72.78 USD

Spread / Average Target

+21.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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