Rankings Food, drinks & restaurants Unilever
Unilever
73
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history and peers−5
- Quality of growth−3
- Emerging markets and currency−2
Strengths
- Raised guidance+2
- Buybacks and dividend from FCF+2
- Volume-driven growth+1
How the score is built
From 100 to 73, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 4,874 GBX
- Median analyst target
- 5,341 GBX
- Upside to median
- +9.6%
- Analysts
- 15
- Target range
- 3,986 – 5,979 GBX
- 52-week change
- −6%
- P/E (trailing)
- 13.4
- Forward P/E
- 17.4
- PEG
- 3.46
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−5 of −30
- −3Quality of growthStrong volume in emerging markets (USG 7.0%), but developed markets (40% of sales) grew only 1.5% and Europe fell 0.9%; reported revenue is flat TTM (EUR 50.6bn vs 52.4bn in 2021), and underlying EPS rose only 2.4% in H1 after −6% from currency headwinds.
- −1MarginThe gross margin fell 70 bp to 46.8% in H1 because of raw-material inflation, and the underlying operating margin rose only 10 bp to 20.3%; H2 growth is expected to be price-driven to cover raw materials.
- −1ROICROIC 15.8% TTM vs 16.2–17.8% in 2021–25 – high, but slightly declining through the portfolio reshuffles.
Price
Today's multiples against the company's own history and its peers. · 1 finding−5 of −35
- −5Multiples vs own history and peersForward P/E 16.1 vs 16.1–18.1 in 2021–25 (bottom of its own range); EV/EBITDA 12.5 vs 12.8–15.1; P/FCF 16.0 vs 13.3–20.5; FCF yield 6.3%. Below P&G/Colgate, but a trailing P/E of 21 and only about 5% expected EPS growth in 2026 do not make it cheap in absolute terms.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−5 of −35
- −2Emerging markets and currency60% of sales are in emerging markets; Jefferies maintains sell (target 3,800p, 30/9) because of difficult market conditions and price pressure in Latin America among others, and Brazilian tax reform could cause destocking at retailers in Q4. Currency cost 6% of EPS in H1.
- −2Execution of the portfolio overhaulAfter the ice cream spin-off (Dec 2025), Foods (about 25% of revenue) is to be merged with McCormick; the deal requires approval from McCormick's shareholders and the authorities and is only expected to close in mid-2027. At the same time Grüns is being bought for EUR 767m, and restructuring costs run at about 1% of revenue – a heavy management burden and a risk of stranded costs.
- −1DebtNet debt/EBITDA 2.3x vs the target of 2.0x at year-end; stockanalysis shows net debt of EUR 26.2bn and current ratio 0.74.
Plus
Only documented strengths. · 3 findings+5 of +15
- +2Raised guidance2026 outlook raised after H1: USG within 4–6% with about 3% volume growth and a modest improvement in operating margin from 20.0%; Q2 USG accelerated to 5.8% with 5.5% volume.
- +2Buybacks and dividend from FCFDividend EUR 4.25bn and buyback EUR 1.51bn TTM (EUR 5.76bn in total) are covered by FCF of EUR 7.22bn (EUR 6.87bn after leasing); new programme of EUR 6bn for 2026–2029.
- +1Volume-driven growthHome Care grew 7.6% with 7.4% volume (Q2: 9.1%/8.6%) and Beauty & Wellbeing 5.9% with 4.5% volume – growth comes from units sold, not just price.
Caveats
What the score does not capture, or where the data is weak.
stockanalysis has no Amsterdam page (quote/ams/UNA and ULVR give 404), so the path is the primary London listing (quote/lon/ULVR) with price in pence (GBX) instead of EUR; the accounts are in EUR. The share also trades in Amsterdam (Euronext), but the Nordnet lookup via the path will hit the London line. The fall in share count (−4.2%) is affected by the share consolidation (0.889:1) at the ice cream demerger in Dec. 2025; the buyback (EUR 1.5bn) corresponds to about 1.3% a year. Net profit for 2025 (9.5bn) is lifted by the gain on the ice cream demerger. Underlying EPS +2.4% vs reported −2.5% in H1. The Foods merger with McCormick (Reverse Morris Trust, USD 44.8bn) is expected to complete mid-2027; after that Unilever is a pure HPC company with about EUR 39bn in revenue. Jefferies (sell, 3,800p) cut its price target on 30/9.
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