Market is always forward looking and forward PE's is 23.6 https://www.marketscreener.com/NESTL...34/financials/
and Danone's is 18.0 https://www.marketscreener.com/DANON...de&mots=Danone
ATM is currently 28.8 https://www.marketscreener.com/A2-MI...apide&mots=ATM