Projected Income Statement: Vestas Wind Systems A/S

Forecast Balance Sheet: Vestas Wind Systems A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -1,200 49 69 -706 -1,174 -1,551 -2,341 -3,221
Change - 104.08% 40.82% -1,123.19% -66.29% -32.11% -50.93% -37.59%
Announcement Date 10/2/22 8/2/23 7/2/24 5/2/25 5/2/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Vestas Wind Systems A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 876 819 892 1,155 1,278 1,220 1,179 1,231
Change - -6.51% 8.91% 29.48% 10.65% -4.55% -3.34% 4.41%
Free Cash Flow (FCF) 1 57 -874 245 991 1,465 856.2 1,253 1,367
Change - -1,633.33% 128.03% 304.49% 47.83% -41.56% 46.3% 9.13%
Announcement Date 10/2/22 8/2/23 7/2/24 5/2/25 5/2/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Vestas Wind Systems A/S

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

Profitability

        
EBITDA Margin (%) 8.87% -0.43% 6.68% 9.28% 11.18% 12.16% 13.22% 13.72%
EBIT Margin (%) 2.96% -7.95% 1.5% 4.28% 5.67% 7.1% 8.25% 8.86%
EBT Margin (%) 1.65% -11.71% 0.66% 4.08% 5.52% 6.91% 8.22% 8.44%
Net margin (%) 1.07% -10.85% 0.5% 2.89% 4.13% 5.19% 5.98% 6.28%
FCF margin (%) 0.37% -6.03% 1.59% 5.73% 7.78% 4.08% 5.53% 5.73%
FCF / Net Income (%) 34.13% 55.6% 318.18% 198.6% 188.3% 78.65% 92.52% 91.31%

Profitability

        
ROA 0.88% -7.91% 0.36% 2.12% 3.09% 3.92% 4.66% 5.06%
ROE 3.6% -43.9% 2.6% 15.22% 21.04% 24.59% 25.56% 23.87%

Financial Health

        
Leverage (Debt/EBITDA) - -0.78x 0.07x - - - - -
Debt / Free cash flow - -0.06x 0.28x - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 5.62% 5.65% 5.8% 6.68% 6.79% 5.81% 5.21% 5.16%
CAPEX / EBITDA (%) 63.39% -1,300% 86.77% 71.96% 60.71% 47.82% 39.38% 37.62%
CAPEX / FCF (%) 1,536.84% -93.71% 364.08% 116.55% 87.24% 142.48% 94.13% 90.05%

Items per share

        
Cash flow per share 1 0.9881 -0.1938 1.017 2.309 2.277 2.266 2.618 2.457
Change - -119.61% 624.77% 127% -1.36% -0.5% 15.54% -6.15%
Dividend per Share 1 0.05 - - 0.1 0.1 0.236 0.3082 0.3585
Change - - - - 0% 135.99% 30.59% 16.33%
Book Value Per Share 1 4.7 3 3 3.494 3.904 4.621 5.586 6.752
Change - -36.17% 0% 16.45% 11.76% 18.35% 20.88% 20.89%
EPS 1 0.17 -1.56 0.08 0.49 0.77 1.077 1.408 1.604
Change - -1,017.65% 105.13% 512.5% 57.14% 39.84% 30.77% 13.9%
Nbr of stocks (in thousands) 1,004,401 1,005,144 1,009,189 1,009,046 990,417 987,197 987,197 987,197
Announcement Date 10/2/22 8/2/23 7/2/24 5/2/25 5/2/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 19.8x 15.1x
PBR 4.61x 3.81x
EV / Sales 0.93x 0.83x
Yield 1.11% 1.45%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
21.30EUR
Average target price
23.56EUR
Spread / Average Target
+10.60%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. VWS Stock
  4. Financials Vestas Wind Systems A/S