Cash flow Beiersdorf

Equities

BEI

DE0005200000

Personal Products

Market Closed - Xetra Other stock markets 01:35:13 16/04/26 am AEST			Pre-market 03:31:04 pm
76.48 ^EUR	+0.79%		76.55	+0.09%

14/04	BEIERSDORF AG : Barclays reiterates its Buy rating	ZD
13/04	BEIERSDORF AG : Bernstein reiterates its Buy rating	ZD

3aa787d8035af705c8638191bc42.u2LyDoVuSfTzQ15nsEi9H7AQLSLYIW4DJq_UskOsQcw.8gCYZbYHDLarcBoVwQyQVNNJZg-PERt1bMmE9CyYLYSLKptky1gMjZ8kEw

Published financial data: BEIERSDORF

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	7.63B	8.8B	9.45B	9.85B	9.85B
Total Revenues	7.63B	8.8B	9.45B	9.85B	9.85B
Cost of Goods Sold, Total	3.27B	3.84B	4.03B	4.09B	4.17B
Gross Profit	4.36B	4.96B	5.42B	5.76B	5.69B
Selling General & Admin Expenses, Total	3.13B	3.53B	3.83B	4.08B	4.06B
R&D Expenses	268M	291M	320M	354M	365M
Other Operating Expenses	-45M	-85M	80M	-67M	-90M
Other Operating Expenses, Total	3.35B	3.74B	4.23B	4.36B	4.33B
Operating Income	1.01B	1.22B	1.18B	1.4B	1.35B
Interest Expense, Total	-14M	-16M	-26M	-45M	-24M
Interest And Investment Income	32M	36M	43M	72M	57M
Net Interest Expenses	18M	20M	17M	27M	33M
Currency Exchange Gains (Loss)	5M	-69M	-47M	-16M	2M
Other Non Operating Income (Expenses)	-36M	-6M	-5M	15M	5M
EBT, Excl. Unusual Items	993M	1.16B	1.15B	1.42B	1.39B
Restructuring Charges	-54M	-61M	-31M	-67M	-38M
Merger & Related Restructuring Charges	-17M	-6M	-7M	-7M	-
Impairment of Goodwill	-9M	-8M	-5M	-46M	-
Gain (Loss) On Sale Of Assets	0	12M	7M	30M	-8M
Asset Writedown	-	-	-	-	-
Other Unusual Items	-6M	-5M	-8M	-7M	-
EBT, Incl. Unusual Items	907M	1.1B	1.1B	1.33B	1.35B
Income Tax Expense	252M	325M	356M	398M	393M
Earnings From Continuing Operations	655M	771M	749M	928M	955M
Net Income to Company	655M	771M	749M	928M	955M
Minority Interest	-17M	-16M	-13M	-16M	-16M
Net Income - (IS)	638M	755M	736M	912M	939M
Net Income to Common Incl Extra Items	638M	755M	736M	912M	939M
Net Income to Common Excl. Extra Items	638M	755M	736M	912M	939M
Per Share Items
Net EPS - Basic	2.81	3.33	3.24	4.05	4.25
Basic EPS - Continuing Operations	2.81	3.33	3.24	4.05	4.25
Basic Weighted Average Shares Outstanding	227M	227M	227M	225M	221M
Net EPS - Diluted	2.81	3.33	3.24	4.05	4.25
Diluted EPS - Continuing Operations	2.81	3.33	3.24	4.05	4.25
Diluted Weighted Average Shares Outstanding	227M	227M	227M	225M	221M
Normalized Basic EPS	2.66	3.14	3.11	3.88	3.87
Normalized Diluted EPS	2.66	3.14	3.11	3.88	3.87
Dividend Per Share	0.7	0.7	1	1	1
Payout Ratio	24.92	21.06	21.6	24.89	23.75
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	1.22B	1.43B	1.4B	1.64B	1.61B
EBITA	1.03B	1.25B	1.22B	1.44B	1.39B
EBIT	1.01B	1.22B	1.18B	1.4B	1.35B
EBITDAR	1.24B	1.46B	1.44B	1.69B	1.66B
Effective Tax Rate - (Ratio)	27.78	29.65	32.22	30.02	29.15
Current Domestic Taxes	76M	65M	109M	159M	143M
Current Foreign Taxes	193M	272M	307M	267M	253M
Total Current Taxes	269M	337M	416M	426M	396M
Total Deferred Taxes	-17M	-12M	-60M	-28M	-3M
Normalized Net Income	604M	712M	705M	873M	855M
Interest on Long-Term Debt	-	-	6M	-	-
Non-Cash Pension Expense	8M	18M	12M	10M	10M
Supplemental Operating Expense Items
Marketing Expenses	1.69B	1.88B	2.08B	2.26B	2.21B
Selling and Marketing Expenses	2.68B	3B	3.25B	3.46B	3.45B
General and Administrative Expenses	448M	524M	570M	605M	593M
Research And Development Expense From Footnotes	268M	291M	320M	354M	365M
Net Rental Expense, Total	27M	34M	40M	49M	48M
Imputed Operating Lease Interest Expense	20.3M	21.13M	48.51M	68.11M	38.24M
Imputed Operating Lease Depreciation	6.7M	12.87M	-8.51M	-19.11M	9.76M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.04B	1.08B	1.13B	1.21B	1.2B
Short Term Investments	724M	835M	1.1B	875M	976M
Trading Asset Securities, Total	16M	83M	288M	421M	401M
Total Cash And Short Term Investments	1.78B	2B	2.52B	2.5B	2.58B
Accounts Receivable, Total	1.31B	1.51B	1.6B	1.79B	1.91B
Other Receivables	207M	205M	227M	250M	303M
Total Receivables	1.51B	1.71B	1.82B	2.04B	2.21B
Inventory	1.14B	1.56B	1.51B	1.61B	1.61B
Other Current Assets, Total	198M	274M	254M	284M	262M
Total Current Assets	4.63B	5.54B	6.11B	6.44B	6.66B
Gross Property Plant And Equipment	3.34B	3.44B	4.03B	4.99B	5.21B
Accumulated Depreciation	-2.02B	-2.04B	-2.12B	-2.27B	-2.36B
Net Property Plant And Equipment	1.32B	1.4B	1.91B	2.72B	2.84B
Long-term Investments	3.94B	3.18B	2.68B	2.47B	1.86B
Goodwill	244M	766M	584M	569M	516M
Other Intangibles, Total	294M	345M	354M	319M	306M
Deferred Tax Assets Long-Term	292M	258M	304M	325M	317M
Other Long-Term Assets, Total	583M	853M	687M	172M	258M
Total Assets	11.3B	12.35B	12.63B	13.01B	12.76B
Liabilities
Accounts Payable, Total	1.97B	2.33B	2.23B	2.57B	2.48B
Accrued Expenses, Total	441M	489M	530M	510M	462M
Short-term Borrowings	95M	163M	20M	30M	23M
Current Portion of Leases	76M	78M	82M	84M	77M
Current Income Taxes Payable	160M	183M	152M	195M	167M
Other Current Liabilities	580M	520M	486M	306M	296M
Total Current Liabilities	3.32B	3.76B	3.5B	3.7B	3.51B
Long-Term Leases	-	-	-	151M	117M
Pension & Other Post Retirement Benefits	808M	382M	350M	328M	163M
Deferred Tax Liability Non Current	38M	137M	133M	135M	187M
Other Non Current Liabilities	234M	263M	303M	206M	164M
Total Liabilities	4.4B	4.54B	4.29B	4.52B	4.14B
Common Stock, Total	252M	252M	252M	248M	243M
Additional Paid In Capital	47M	47M	47M	47M	47M
Retained Earnings	6.88B	7.72B	8.32B	8.51B	8.84B
Comprehensive Income and Other	-307M	-239M	-292M	-328M	-528M
Total Common Equity	6.87B	7.78B	8.32B	8.48B	8.6B
Minority Interest	23M	20M	17M	20M	17M
Total Equity	6.89B	7.8B	8.34B	8.5B	8.62B
Total Liabilities And Equity	11.3B	12.35B	12.63B	13.01B	12.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	227M	227M	227M	223M	219M
ECS Total Common Shares Outstanding	227M	227M	227M	223M	219M
Book Value / Share	30.29	34.32	36.69	37.97	39.36
Tangible Book Value	6.33B	6.67B	7.38B	7.59B	7.78B
Tangible Book Value Per Share	27.92	29.42	32.55	33.99	35.6
Total Debt	171M	241M	102M	265M	217M
Net Debt	-1.6B	-1.76B	-2.42B	-2.24B	-2.36B
Debt Equivalent of Unfunded Proj. Benefit Obligation	782M	345M	321M	292M	103M
Debt Equivalent Oper. Leases	216M	272M	320M	392M	384M
Minority Interest, Total (Incl. Fin. Div)	23M	20M	17M	20M	17M
Equity Method Investments, Total	-	-	-	-	10M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	266M	366M	363M	407M	400M
Inventories - Work In Process, Total	63M	78M	77M	85M	90M
Inventories - Finished Goods, Total	811M	1.11B	1.07B	1.11B	1.12B
Inventories - Others	4M	4M	5M	8M	3M
Land - (BS)	992M	989M	1.35B	1.42B	1.54B
Machinery, Total	2.01B	2.07B	2.23B	2.4B	2.58B
Full Time Employees	20.57K	21.4K	21.96K	22.79K	20.78K
Part Time Employees	-	-	-	-	1.62K
Accumulated Allowance for Doubtful Accounts (Supple)	50M	54M	68M	77M	98M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	638M	755M	736M	912M	939M
Depreciation & Amortization - CF	252M	246M	251M	268M	294M
Amortization of Goodwill and Intangible Assets - (CF)	26M	33M	37M	47M	32M
Depreciation & Amortization, Total	278M	279M	288M	315M	326M
(Gain) Loss From Sale Of Asset	-9M	-5M	-6M	3M	8M
Asset Writedown & Restructuring Costs	9M	8M	161M	42M	2M
Other Operating Activities, Total	-19M	47M	-122M	-3M	-200M
Change In Accounts Receivable	-195M	-288M	-108M	-219M	-161M
Change In Inventories	-145M	-395M	43M	-98M	3M
Change in Other Net Operating Assets	436M	396M	-51M	279M	-132M
Cash from Operations	993M	797M	941M	1.23B	785M
Capital Expenditure	-413M	-548M	-517M	-437M	-463M
Sale of Property, Plant, and Equipment	45M	29M	16M	22M	9M
Cash Acquisitions	-	-545M	-	-	-
Divestitures	10M	10M	23M	-	-
Investment in Marketable and Equity Securities, Total	-548M	576M	62M	186M	529M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	4M	4M
Other Investing Activities, Total	61M	76M	75M	99M	49M
Cash from Investing	-845M	-402M	-341M	-126M	128M
Short Term Debt Issued, Total	-	-	-	-	34M
Long-Term Debt Issued, Total	185M	451M	16M	116M	-
Total Debt Issued	185M	451M	16M	116M	34M
Short Term Debt Repaid, Total	-	-	-	-	-41M
Long-Term Debt Repaid, Total	-123M	-515M	-268M	-344M	-77M
Total Debt Repaid	-123M	-515M	-268M	-344M	-118M
Repurchase of Common Stock	-	-	-	-501M	-501M
Common Dividends Paid	-159M	-159M	-159M	-227M	-223M
Common & Preferred Stock Dividends Paid	-159M	-159M	-159M	-227M	-223M
Other Financing Activities, Total	-44M	-122M	-81M	-73M	-39M
Cash from Financing	-141M	-345M	-492M	-1.03B	-847M
Foreign Exchange Rate Adjustments	24M	-6M	-55M	-2M	-73M
Net Change in Cash	31M	44M	53M	74M	-7M
Supplemental Items
Cash Interest Paid	12M	15M	19M	30M	11M
Cash Income Tax Paid (Refund)	305M	312M	464M	404M	477M
Levered Free Cash Flow	716M	160M	328M	558M	375M
Unlevered Free Cash Flow	725M	170M	344M	586M	390M
Change In Net Working Capital	-231M	323M	167M	165M	319M
Net Debt Issued / Repaid	62M	-64M	-252M	-228M	-84M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.85	6.44	5.93	6.81	6.57
Return on Total Capital	9.35	10.08	8.98	10.06	9.62
Return On Equity %	9.96	10.49	9.28	11.03	11.16
Return on Common Equity	9.73	10.3	9.14	10.86	11
Margin Analysis
Gross Profit Margin %	57.17	56.34	57.33	58.48	57.71
SG&A Margin	41.05	40.14	40.56	41.38	41.18
EBITDA Margin %	15.96	16.24	14.84	16.62	16.31
EBITA Margin %	13.53	14.23	12.92	14.66	14.07
EBIT Margin %	13.19	13.85	12.53	14.18	13.74
Income From Continuing Operations Margin %	8.59	8.76	7.93	9.42	9.69
Net Income Margin %	8.36	8.58	7.79	9.26	9.53
Net Avail. For Common Margin %	8.36	8.58	7.79	9.26	9.53
Normalized Net Income Margin	7.91	8.09	7.46	8.87	8.68
Levered Free Cash Flow Margin	9.39	1.82	3.47	5.66	3.81
Unlevered Free Cash Flow Margin	9.5	1.93	3.64	5.95	3.96
Asset Turnover
Asset Turnover	0.71	0.74	0.76	0.77	0.76
Fixed Assets Turnover	5.85	6.47	5.7	3.75	3.54
Receivables Turnover (Average Receivables)	5.98	6.25	6.08	5.81	5.32
Inventory Turnover (Average Inventory)	3.05	2.84	2.63	2.62	2.59
Short Term Liquidity
Current Ratio	1.39	1.47	1.74	1.74	1.9
Quick Ratio	0.99	0.99	1.24	1.23	1.37
Operating Cash Flow to Current Liabilities	0.3	0.21	0.27	0.33	0.22
Days Sales Outstanding (Average Receivables)	61.02	58.36	60	62.98	68.58
Days Outstanding Inventory (Average Inventory)	119.82	128.3	139.04	139.87	141.1
Average Days Payable Outstanding	193.47	184.47	208.77	209.96	221.6
Cash Conversion Cycle (Average Days)	-12.63	2.19	-9.73	-7.11	-11.93
Long Term Solvency
Total Debt/Equity	2.48	3.09	1.22	3.12	2.52
Total Debt / Total Capital	2.42	3	1.21	3.03	2.46
LT Debt/Equity	-	-	-	1.78	1.36
Long-Term Debt / Total Capital	-	-	-	1.72	1.32
Total Liabilities / Total Assets	38.99	36.79	33.97	34.71	32.45
EBIT / Interest Expense	71.86	76.19	45.54	31.04	56.42
EBITDA / Interest Expense	91.71	93.62	56.62	38.04	70
(EBITDA - Capex) / Interest Expense	62.21	59.38	36.73	28.33	50.71
Total Debt / EBITDA	0.13	0.16	0.07	0.15	0.13
Net Debt / EBITDA	-1.25	-1.17	-1.64	-1.31	-1.4
Total Debt / (EBITDA - Capex)	0.2	0.25	0.11	0.21	0.18
Net Debt / (EBITDA - Capex)	-1.84	-1.85	-2.53	-1.76	-1.94
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.57	15.37	7.36	4.27	0.02
Gross Profit, 1 Yr. Growth %	7.89	13.69	9.26	6.35	-1.28
EBITDA, 1 Yr. Growth %	10.44	19.98	-1.89	4.53	-0.62
EBITA, 1 Yr. Growth %	9.55	24.45	-2.48	4.26	-2.67
EBIT, 1 Yr. Growth %	9.59	24.39	-2.87	3.64	-1.67
Earnings From Cont. Operations, 1 Yr. Growth %	13.52	17.71	-2.85	23.9	2.91
Net Income, 1 Yr. Growth %	13.93	18.34	-2.52	23.91	2.96
Normalized Net Income, 1 Yr. Growth %	9.9	21.13	-0.9	8.14	-0.65
Diluted EPS Before Extra, 1 Yr. Growth %	13.93	18.34	-2.52	24.94	4.79
Accounts Receivable, 1 Yr. Growth %	4.98	15.47	5.97	12.14	6.58
Inventory, 1 Yr. Growth %	14.29	36.1	-2.76	6.47	-0.19
Net Property, Plant and Equip., 1 Yr. Growth %	2.33	6.06	36.55	7.01	4.63
Total Assets, 1 Yr. Growth %	10.72	9.28	2.28	3.02	-1.94
Tangible Book Value, 1 Yr. Growth %	11.22	5.38	10.64	2.75	2.53
Common Equity, 1 Yr. Growth %	10.13	13.3	6.9	1.84	1.49
Cash From Operations, 1 Yr. Growth %	0.91	-19.74	18.07	30.82	-36.23
Capital Expenditures, 1 Yr. Growth %	47.5	32.69	-5.66	-15.47	5.95
Levered Free Cash Flow, 1 Yr. Growth %	-16.12	-77.15	105	29.69	-31.21
Unlevered Free Cash Flow, 1 Yr. Growth %	-15.9	-76.02	102.5	31.27	-31.97
Dividend Per Share, 1 Yr. Growth %	0	0	42.86	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-0.17	11.92	11.29	5.8	2.12
Gross Profit, 2 Yr. CAGR %	-0.82	10.76	11.45	7.8	2.46
EBITDA, 2 Yr. CAGR %	-2.72	13.87	8.5	7.03	1.3
EBITA, 2 Yr. CAGR %	-4.81	15.29	10.17	7.39	0.04
EBIT, 2 Yr. CAGR %	-4.89	15.23	9.92	7.05	0.22
Earnings From Cont. Operations, 2 Yr. CAGR %	-5.66	15.6	6.94	9.71	12.92
Net Income, 2 Yr. CAGR %	-5.74	16.11	7.41	9.91	12.95
Normalized Net Income, 2 Yr. CAGR %	-5.27	13.82	9.57	10.79	2.91
Diluted EPS Before Extra, 2 Yr. CAGR %	-5.74	16.11	7.41	10.36	14.42
Accounts Receivable, 2 Yr. CAGR %	-4.83	10.1	10.62	9.01	9.33
Inventory, 2 Yr. CAGR %	6.32	24.72	15.04	1.75	3.09
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.81	4.26	20.38	39.31	5.81
Total Assets, 2 Yr. CAGR %	6.01	10	5.72	2.65	0.51
Tangible Book Value, 2 Yr. CAGR %	7.45	8.26	7.98	6.62	2.64
Common Equity, 2 Yr. CAGR %	6.43	11.7	10.05	4.34	1.66
Cash From Operations, 2 Yr. CAGR %	0.41	-10	-2.65	24.28	-8.66
Capital Expenditures, 2 Yr. CAGR %	13.61	39.9	11.88	-10.7	-5.37
Levered Free Cash Flow, 2 Yr. CAGR %	3.85	-56.72	-31.56	86.82	-6.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	3.85	-55.6	-30.32	85.75	-6.51
Dividend Per Share, 2 Yr. CAGR %	0	0	19.52	19.52	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.78	4.76	10.38	8.9	3.84
Gross Profit, 3 Yr. CAGR %	1.59	3.8	10.25	9.73	4.68
EBITDA, 3 Yr. CAGR %	-0.03	3.58	8.36	11.18	3.99
EBITA, 3 Yr. CAGR %	-1.69	3.2	9.03	12.8	3.45
EBIT, 3 Yr. CAGR %	-2	3.11	8.85	12.54	3.56
Earnings From Cont. Operations, 3 Yr. CAGR %	-4.2	1.56	9.09	12.31	7.39
Net Income, 3 Yr. CAGR %	-4.3	1.69	9.54	12.65	7.54
Normalized Net Income, 3 Yr. CAGR %	-1.41	1.89	8.68	14.14	6.33
Diluted EPS Before Extra, 3 Yr. CAGR %	-4.3	1.69	9.54	12.96	8.47
Accounts Receivable, 3 Yr. CAGR %	-2.15	1.5	8.71	11.12	8.2
Inventory, 3 Yr. CAGR %	5.08	15.44	14.79	12.11	1.1
Net Property, Plant and Equip., 3 Yr. CAGR %	10.91	0.8	14.09	27.24	26.63
Total Assets, 3 Yr. CAGR %	8.4	7.09	7.36	4.82	1.09
Tangible Book Value, 3 Yr. CAGR %	5.38	6.76	9.05	6.21	5.24
Common Equity, 3 Yr. CAGR %	6.91	8.67	10.08	7.24	3.38
Cash From Operations, 3 Yr. CAGR %	4.59	-6.82	-1.48	7.42	-0.5
Capital Expenditures, 3 Yr. CAGR %	4.88	19.64	22.68	1.9	-5.46
Levered Free Cash Flow, 3 Yr. CAGR %	22.4	-37.78	-27.32	-7.27	32.9
Unlevered Free Cash Flow, 3 Yr. CAGR %	22.31	-36.77	-26.37	-6.12	31.95
Dividend Per Share, 3 Yr. CAGR %	0	0	12.62	12.62	12.62
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.47	4.51	5.49	5.18	7
Gross Profit, 5 Yr. CAGR %	1.85	3.64	5.43	5.38	7.07
EBITDA, 5 Yr. CAGR %	0.55	2.98	2.85	4.94	7.84
EBITA, 5 Yr. CAGR %	-0.31	2.6	2.37	4.86	8.03
EBIT, 5 Yr. CAGR %	-0.59	2.38	2.06	4.67	8.08
Earnings From Cont. Operations, 5 Yr. CAGR %	-2.06	2.27	0.11	4.75	10.6
Net Income, 5 Yr. CAGR %	-2.09	2.36	0.22	4.9	10.89
Normalized Net Income, 5 Yr. CAGR %	-1.44	2.67	2.28	5.36	9.26
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.09	2.36	0.22	5.07	11.47
Accounts Receivable, 5 Yr. CAGR %	0.2	2.61	2.77	4.44	8.95
Inventory, 5 Yr. CAGR %	9.13	12.76	8.96	9.76	9.96
Net Property, Plant and Equip., 5 Yr. CAGR %	7.48	8.97	14.64	14.74	17.17
Total Assets, 5 Yr. CAGR %	8.33	8.52	7.32	5.29	4.57
Tangible Book Value, 5 Yr. CAGR %	6.9	6.1	6.41	6.7	6.44
Common Equity, 5 Yr. CAGR %	8.09	8.81	8.16	6.92	6.63
Cash From Operations, 5 Yr. CAGR %	1.06	-2.64	1.63	4.56	-4.42
Capital Expenditures, 5 Yr. CAGR %	20.58	22.96	7.63	6.43	10.58
Levered Free Cash Flow, 5 Yr. CAGR %	-1.16	-24.61	-3.44	-3.42	-15.16
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.98	-23.81	-2.78	-2.7	-14.65
Dividend Per Share, 5 Yr. CAGR %	0	0	7.39	7.39	7.39