Financials LyondellBasell Industries N.V.

Equities

LYB

NL0009434992

Commodity Chemicals

Market Closed - Nyse Other stock markets 04:00:02 2024-05-06 pm EDT			5-day change	1st Jan Change
99.74 ^USD	+0.63%		-1.93%	+4.90%

May. 06	Barclays Adjusts Price Target on LyondellBasell Industries to $104 From $100, Keeps Equalweight Rating	MT
May. 01	Ineos Oxide Ltd completed the acquisition of Ethylene Oxide & Derivatives (EO&D) business and production facility at Bayport Texas of LyondellBasell Industries N.V.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,501	30,607	30,477	27,037	30,840	32,478	-	-
Enterprise Value (EV) ¹	42,509	44,099	40,248	36,207	38,667	40,898	40,419	40,305
P/E ratio	9.86 x	21.6 x	5.51 x	7.03 x	41.5 x	12.3 x	9.86 x	9.89 x
Yield	4.39%	4.58%	4.81%	5.66%	5.2%	5.15%	5.37%	5.61%
Capitalization / Revenue	0.91 x	1.1 x	0.66 x	0.54 x	0.75 x	0.79 x	0.92 x	0.92 x
EV / Revenue	1.22 x	1.59 x	0.87 x	0.72 x	0.94 x	0.99 x	1.14 x	1.15 x
EV / EBITDA	7.47 x	13.4 x	4.63 x	5.55 x	7.4 x	7.83 x	7.08 x	6.84 x
EV / FCF	18.8 x	30.3 x	7.02 x	8.56 x	11.3 x	22.3 x	13.2 x	16.9 x
FCF Yield	5.33%	3.3%	14.3%	11.7%	8.82%	4.49%	7.58%	5.92%
Price to Book	3.92 x	3.85 x	2.61 x	2.14 x	2.38 x	2.39 x	2.33 x	2.24 x
Nbr of stocks (in thousands)	333,411	333,919	330,441	325,624	324,362	325,622	-	-
Reference price ²	94.48	91.66	92.23	83.03	95.08	99.74	99.74	99.74
Announcement Date	1/31/20	1/29/21	1/28/22	2/3/23	2/2/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	34,727	27,753	46,173	50,451	41,107	41,180	35,405	35,125
EBITDA ¹	5,692	3,285	8,689	6,527	5,222	5,221	5,706	5,897
EBIT ¹	4,380	1,900	7,397	5,170	3,766	3,712	4,260	4,398
Operating Margin	12.61%	6.85%	16.02%	10.25%	9.16%	9.01%	12.03%	12.52%
Earnings before Tax (EBT) ¹	4,052	1,386	6,786	4,776	2,627	3,321	4,044	4,103
Net income ¹	3,390	1,420	5,617	3,889	2,114	2,672	3,221	3,264
Net margin	9.76%	5.12%	12.17%	7.71%	5.14%	6.49%	9.1%	9.29%
EPS ²	9.580	4.240	16.75	11.81	2.290	8.130	10.11	10.08
Free Cash Flow ¹	2,267	1,457	5,736	4,229	3,411	1,835	3,062	2,388
FCF margin	6.53%	5.25%	12.42%	8.38%	8.3%	4.46%	8.65%	6.8%
FCF Conversion (EBITDA)	39.83%	44.35%	66.01%	64.79%	65.32%	35.14%	53.66%	40.49%
FCF Conversion (Net income)	66.87%	102.61%	102.12%	108.74%	161.35%	68.66%	95.04%	73.16%
Dividend per Share ²	4.150	4.200	4.440	4.700	4.940	5.140	5.352	5.594
Announcement Date	1/31/20	1/29/21	1/28/22	2/3/23	2/2/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	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	2025 Q2
Net sales ¹	12,830	13,157	14,838	12,250	10,206	10,247	10,306	10,625	9,929	9,925	10,391	10,831	10,170	10,069	9,301
EBITDA ¹	1,395	2,020	2,381	1,192	865	1,452	1,450	1,410	910	1,063	1,380	1,477	1,296	1,365	1,381
EBIT ¹	1,535	1,661	2,210	896	487	713	1,122	1,068	586	698	980.2	1,082	885.6	1,048	1,022
Operating Margin	11.96%	12.62%	14.89%	7.31%	4.77%	6.96%	10.89%	10.05%	5.9%	7.03%	9.43%	9.99%	8.71%	10.4%	10.99%
Earnings before Tax (EBT) ¹	866	1,635	2,023	727	389	642	905	901	179	596	888.9	989.6	804.7	978.5	963.5
Net income ¹	726	1,320	1,644	572	353	474	715	747	183	473	720.5	794.7	649.6	773.5	764
Net margin	5.66%	10.03%	11.08%	4.67%	3.46%	4.63%	6.94%	7.03%	1.84%	4.77%	6.93%	7.34%	6.39%	7.68%	8.21%
EPS ²	2.180	4.000	4.980	1.750	1.070	1.440	2.180	2.290	0.5600	1.440	2.198	2.458	2.006	2.385	2.365
Dividend per Share ²	1.130	1.130	1.190	1.190	1.190	1.190	1.250	1.250	1.250	1.250	1.299	1.299	1.317	1.356	1.379
Announcement Date	1/28/22	4/29/22	7/29/22	10/28/22	2/3/23	4/28/23	8/4/23	10/27/23	2/2/24	4/26/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	11,008	13,492	9,771	9,170	7,827	8,421	7,941	7,827
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.934 x	4.107 x	1.125 x	1.405 x	1.499 x	1.613 x	1.392 x	1.327 x
Free Cash Flow ¹	2,267	1,457	5,736	4,229	3,411	1,835	3,062	2,388
ROE (net income / shareholders' equity)	37.2%	23.5%	56.7%	33.5%	22.2%	20.2%	21.2%	21.8%
ROA (Net income/ Total Assets)	11.6%	5.72%	15.6%	11.2%	7.74%	6.91%	7.68%	8.42%
Assets ¹	29,261	24,812	36,034	34,655	27,324	38,647	41,960	38,759
Book Value Per Share ²	24.10	23.80	35.40	38.70	39.90	41.70	42.70	44.50
Cash Flow per Share ²	14.00	10.20	22.70	18.70	15.20	12.70	16.00	15.00
Capex ¹	2,700	1,947	1,866	1,890	1,531	2,081	2,152	2,275
Capex / Sales	7.77%	7.02%	4.04%	3.75%	3.72%	5.05%	6.08%	6.48%
Announcement Date	1/31/20	1/29/21	1/28/22	2/3/23	2/2/24	-	-	-

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 LyondellBasell Industries N.V.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

99.74 USD

Average target price

107.5 USD

Spread / Average Target

+7.78%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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