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Perrigo Co PLC PRGO

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Stock XNYS Rating as of
$30.71 −0.31 (1.00%)
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As of Delayed Price Closed
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Company Report

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Perrigo Earnings: Tumbled Start to 2024 as Volume Loss Worsens and Margins Shrink

Keonhee Kim, Ava Gams

No-moat Perrigo reported disappointing first-quarter results that came in below our expectations, Total sales of $1.1 billion were down 8.4% year over year with 4.3% loss from infant formula business and 3.6% loss from portfolio optimization and minor offset from base business growth. After updating our model and baking in slightly lowered outlook for the year with slight offset from time value of money impact, we lightly trim our fair value estimate to $36 per share from $37.

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Price vs Fair Value

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PRGO is trading at a 233% premium.
Price
$30.71
Fair Value
$25.00
Uncertainty
Medium
1-Star Price
$75.90
5-Star Price
$14.10
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Perrigo is now more tapped in to the higher-margin branded consumer health market, and this should act as tailwind to the top and bottom lines in future.

Bears

By expanding its business to focus more on branded products, Perrigo now faces stiffer competition from larger consumer healthcare product manufacturers.

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Trading Information

Previous Close Price
$31.02
Day Range
$30.63–31.32
52-Week Range
$25.77–40.28
Bid/Ask
$30.13 / $31.50
Market Cap
$4.19 Bil
Volume/Avg
782,730 / 2.0 Mil

Key Statistics

Price/Earnings (Normalized)
12.69
Price/Sales
0.92
Dividend Yield (Trailing)
3.53%
Dividend Yield (Forward)
3.56%
Total Yield
3.57%

Company Profile

Perrigo is one of the largest consumer health companies in the world. Since 2018, Perrigo divested its animal health and generic pharmaceuticals businesses to solely focus on consumer self-care. In North America (two thirds of total sales), the firm’s product mix is anchored in private-label consumer health goods, which are sold to major retailers like Walmart, Amazon, Costco, and CVS. Perrigo also plays in Europe, Australia, and parts of Asia where it primarily generates revenue through its national brands, including Compeed, Solpadeine, Coldrex, and ellaOne.
Sector
Healthcare
Industry
Drug Manufacturers - Specialty & Generic
Stock Style Box
Small Value
Total Number of Employees
9,140
Website
https://www.perrigo.com

Competitors

Valuation

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Metric
PRGO
HLN
PG
Price/Earnings (Normalized)
 12.6917.9725.27
Price/Book Value
 0.891.807.91
Price/Sales
 0.922.714.86
Price/Cash Flow
 8.6617.0720.13
Price/Earnings
PRGO
HLN
PG

Financial Strength

Metric
PRGO
HLN
PG
Quick Ratio
 0.920.630.40
Current Ratio
 1.811.040.64
Interest Coverage
 0.364.9420.66
Quick Ratio
PRGO
HLN
PG

Profitability

Metric
PRGO
HLN
PG
Return on Assets (Normalized)
 3.06%—13.82%
Return on Equity (Normalized)
 6.94%—35.61%
Return on Invested Capital (Normalized)
 5.38%—20.62%
Return on Assets
PRGO
HLN
PG
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