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French food company making dairy/plant-based products, waters and specialized medical/infant nutrition.
French food company making dairy/plant-based products, waters and specialized medical/infant nutrition.
Sells everyday yogurt, plant-based drinks, bottled water and specialised nutrition. Medical and infant nutrition, sold through pharmacies and healthcare professionals, tend to be steadier and higher in margin than supermarket dairy. The 2017 purchase of WhiteWave supplied the Alpro and Silk plant-based brands.
Moat: narrow (brand, scale, distribution). Portfolio of leading global dairy/water brands with strong retail distribution.
Headquarters: Paris, France · Founded: 1919 · Employees: 88,670
Size Danone (BN.PA) is a France Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $48.3B, the 19th largest of 206 France companies the cockpit tracks. Shares closed at €67.12 on 6 Nov 2026.
Performance Over six months the shares gained 8.5%, against -2.5% for the median peer and -0.4% for the France market (cap-weighted) — 3rd highest of 7 in its peer set.
Growth Revenue grew 0.5% over the last twelve months (peer median +1.7%); the operating margin is 14.6% (peer median 6.9%).
Valuation It trades at 17.0× forward earnings against a peer median of 17.6× (2nd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.3 points above its cost of capital (6.8% WACC).
Credit Danone has 19 bonds outstanding ($14.7B), rated BBB+ by the agencies and trading like AA- at a weighted spread of 66 bp.
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €27.5B | €27.2B | €27.3B | €27.6B | €27.6B |
| Revenue growth | — | 0% | -1% | 0% | — |
| Gross profit | €12.1B | €13.8B | €13.5B | €13.0B | €12.7B |
| EBITDA | €5.26B | €5.02B | €4.73B | €5.10B | €5.25B |
| Net income | €1.94B | €1.82B | €2.02B | €873M | €945M |
| Free cash flow | €2.42B | €2.72B | €2.91B | €2.60B | €2.09B |
| Capital expenditure | €1.10B | €1.05B | €923M | €847M | €873M |
| Total debt | n/a | €15.1B | €14.8B | €16.3B | €14.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Danone BN.PA | $48.3B | +8% | 0% | 15% | 17.0× | -0.8% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
| Unilever ULVR.L | $143B | +15% | -20% | 20% | 18.4× | 8.0% |
| General Mills GIS | $19.0B | +2% | -4% | 15% | 11.4× | -6.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BN.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.2% | +11.1% | 4th highest of 7 |
| 6-month return | +8.5% | -2.5% | 3rd highest of 7 |
| Distance from 52-week high | -16.2% | -12.7% | 3rd lowest of 7 |
| Revenue growth (TTM) | +0.5% | +1.7% | 3rd lowest of 7 |
| Operating margin | 14.6% | 6.9% | highest of 7 |
| Forward P/E | 17.0× | 17.6× | 2nd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | -0.8% | 2.4% | 4th least demanding of 7 |
| Growth delivered (Del g) | +2.9% | +4.2% | 3rd lowest of 6 |
| Hurdle (Req g minus delivered) | -3.7 pp | -0.3 pp | 2nd least demanding of 6 |
| ROIC minus cost of capital | +4.3 pp | +3.1 pp | 2nd highest of 7 |
| EV / EBITDA | 9.9× | 11.0× | 2nd cheapest of 5 |
| Net debt / EBITDA | 1.7× | 2.7× | 2nd least indebted of 6 |
| Bond spread | 66 bp | 96 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Danone BN.PA | France | $48.3B | +8% | 0% | 15% | 17.0× | -0.8% | +2.9% |
| Tyson Foods TSN | United States | $20.6B | -13% | +3% | 3% | 17.4× | 6.7% | +4.7% |
| JBS JBS | United States | $13.4B | -23% | +334% | 4% | 11.8× | -6.5% | n/a |
| Henan Shuanghui Investment & Development 000895.SZ | China | $12.7B | -12% | -4% | 11% | 17.3× | -4.6% | -4.3% |
| Mowi MOWI.OL | Norway | $12.4B | +12% | +10% | 13% | 17.8× | 7.5% | +10.7% |
| Saputo SAP.TO | Canada | $12.4B | +7% | -5% | 6% | 21.2× | -1.9% | +4.2% |
| Magnum Ice Cream MICC.AS | Netherlands | $12.1B | +35% | +1% | 8% | 17.9× | 10.9% | +1.8% |
Danone has 19 bonds outstanding with $14.7B face value. The agencies rate it BBB+; its bonds trade like AA-. Weighted yield 3.91%, a spread of 66 bp over government bonds.