ENXTPA:BNFood
Danone (ENXTPA:BN) Stock Richly Valued Despite Strong Cash Flow And Margins
The market shrugged at Danone heading into these results. The stock drifted down about 4.7% over the past month and was roughly flat over the last week, even as expectations built around its premium valuation and health focused story.
Today’s half year numbers put profit quality back in the spotlight. Recurring operating margin reached 13.3% and free cash flow hit €0.9b, which matters more for a consumer staples group than headline growth alone. For a stock trading on a P/E of 22.6x, this...