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Bayer AG
XHAM:BAYN

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Bayer AG
XHAM:BAYN
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Price: 40.1 EUR -1.47% Market Closed
Market Cap: €64.6B

EV/EBITDA

7.2
Current
13%
More Expensive
vs 3-y average of 6.4

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
7.2
=
Enterprise Value
€63.5B
/
EBITDA
€8.7B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
7.2
=
Enterprise Value
€63.5B
/
EBITDA
€8.7B

Valuation Scenarios

Bayer AG is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (6.4), the stock would be worth €35.41 (12% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-12%
Maximum Upside
+49%
Average Upside
13%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 7.2 €40.1
0%
3-Year Average 6.4 €35.41
-12%
5-Year Average 6.5 €36.27
-10%
Industry Average 10.8 €59.92
+49%
Country Average 9 €50.05
+25%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€63.5B
/
Jan 2026
€8.7B
=
7.2
Current
€63.5B
/
Dec 2026
€9.6B
=
6.6
Forward
€63.5B
/
Dec 2027
€10.2B
=
6.2
Forward
€63.5B
/
Dec 2028
€11.1B
=
5.7
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
DE
Bayer AG
XHAM:BAYN
39.3B EUR 7.2 -10.9
US
Eli Lilly and Co
NYSE:LLY
867B USD 28.4 42
US
Johnson & Johnson
NYSE:JNJ
555.4B USD 16.9 26.4
CH
Roche Holding AG
SIX:ROG
248.4B CHF 11.9 20.1
UK
AstraZeneca PLC
LSE:AZN
224.8B GBP 16.1 29.1
CH
Novartis AG
SIX:NOVN
221.8B CHF 12.4 20
US
Merck & Co Inc
NYSE:MRK
283.6B USD 9.7 15.5
IE
Endo International PLC
LSE:0Y5F
244.4B USD 386.8 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.1T DKK 7.9 10.7
US
Pfizer Inc
NYSE:PFE
151.6B USD 7.5 19.5
US
Bristol-Myers Squibb Co
NYSE:BMY
118.8B USD 7.2 16.8
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
DE
Bayer AG
XHAM:BAYN
Average EV/EBITDA: 46.6
7.2
8%
0.9
US
Eli Lilly and Co
NYSE:LLY
28.4
21%
1.4
US
Johnson & Johnson
NYSE:JNJ
16.9
8%
2.1
CH
Roche Holding AG
SIX:ROG
11.9
6%
2
UK
AstraZeneca PLC
LSE:AZN
16.1
12%
1.3
CH
Novartis AG
SIX:NOVN
12.4
5%
2.5
US
Merck & Co Inc
NYSE:MRK
9.7
4%
2.4
IE
E
Endo International PLC
LSE:0Y5F
386.8
N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
7.9
2%
4
US
Pfizer Inc
NYSE:PFE
7.5
-8%
N/A
US
Bristol-Myers Squibb Co
NYSE:BMY
7.2
-9%
N/A
P/E Multiple
Earnings Growth PEG
DE
Bayer AG
XHAM:BAYN
Average P/E: 22.2
Negative Multiple: -10.9
N/A N/A
US
Eli Lilly and Co
NYSE:LLY
42
32%
1.3
US
Johnson & Johnson
NYSE:JNJ
26.4
8%
3.3
CH
Roche Holding AG
SIX:ROG
20.1
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
29.1
25%
1.2
CH
Novartis AG
SIX:NOVN
20
14%
1.4
US
Merck & Co Inc
NYSE:MRK
15.5
14%
1.1
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
10.7
0%
N/A
US
Pfizer Inc
NYSE:PFE
19.5
22%
0.9
US
Bristol-Myers Squibb Co
NYSE:BMY
16.8
16%
1.1

Market Distribution

In line with most companies in Germany
Percentile
56th
Based on 2 491 companies
56th percentile
10.3
Low
0.1 — 6.2
Typical Range
6.2 — 13.6
High
13.6 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 6.2
Median 9
70th Percentile 13.6
Max 6 112.6

Bayer AG
Glance View

Bayer AG, a German multinational behemoth, traces its roots back to 1863 in Barmen, when Friedrich Bayer and Johann Friedrich Weskott began their enterprise as a dye-making factory. Fast forward to the present day, and Bayer has evolved into a global powerhouse, seamlessly weaving through pharmaceuticals, consumer health, and agricultural science. At its core, Bayer’s business operations spin around its three main segments: Pharmaceuticals, Consumer Health, and Crop Science. The Pharmaceuticals division is the jewel in Bayer’s crown, focusing on prescription medicines across various therapeutic areas such as oncology, cardiology, and gynecology, allowing Bayer to cater to the world's increasing demand for healthcare solutions, which not only drive patient outcomes but also account for a significant chunk of revenue. Not to be overshadowed, Bayer’s Crop Science division plays a pivotal role, emphasizing its strong commitment to sustainable agriculture. Here, the company develops seeds, traits, and crop protection products that appeal to farmers seeking to enhance yield and manage crop threats. Meanwhile, the Consumer Health division targets over-the-counter products, covering a range of everyday health issues, resonating with consumers seeking self-care solutions. Bayer’s ability to seamlessly integrate its scientific prowess into real-world applications enables the company to extract value across these sectors, creating an intricate mosaic of interdependent streams of revenue and continually reinforcing its stature as a leader in life sciences.

BAYN Intrinsic Value
113.29 EUR
Undervaluation 65%
Intrinsic Value
Price €40.1
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