Cash flow Adyen N.V.

Stocks

ADYEN

NL0012969182

Financial Technology (Fintech)

Real-time Euronext Amsterdam Other stock markets 09:51:17 12/06/2026 BST			5-day change	1st Jan Change
821.80 ^EUR	+4.66%		+0.50%	-40.25%

06:32am	ADYEN : Buy rating from Jefferies	ZD
05:42am	French and Benelux stocks-Factors to watch	RE

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Published financial data: ADYEN N.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1B	1.33B	1.63B	1.99B	2.35B
Interest And Invest. Income (Rev)	-	-	-	27.1M	24.74M
Total Revenues	1B	1.33B	1.63B	2.01B	2.38B
Cost of Goods Sold, Total	242M	381M	620M	694M	758M
Gross Profit	760M	949M	1.01B	1.32B	1.62B
Selling General & Admin Expenses, Total	1.79M	4.26M	7.19M	10.88M	7.59M
Depreciation & Amortization - (IS)	35.01M	63.61M	85.45M	104M	136M
Other Operating Expenses	115M	216M	231M	306M	354M
Other Operating Expenses, Total	152M	284M	324M	422M	497M
Operating Income	608M	665M	682M	900M	1.12B
Interest Expense, Total	-12.79M	-11.96M	-4.78M	-26.74M	-19.7M
Interest And Investment Income	1.04M	29.32M	246M	350M	268M
Net Interest Expenses	-11.75M	17.36M	242M	323M	248M
Currency Exchange Gains (Loss)	11.38M	-8.64M	6.6M	-5.82M	22.71M
Other Non Operating Income (Expenses)	-13.05M	46.65M	9.34M	6.84M	1.06M
EBT, Excl. Unusual Items	594M	720M	939M	1.22B	1.39B
Gain (Loss) On Sale Of Investments	-460K	-153K	3.21M	3.07M	1.35M
Other Unusual Items	-13.03M	-	-	-	-
EBT, Incl. Unusual Items	581M	720M	943M	1.23B	1.39B
Income Tax Expense	111M	156M	244M	302M	331M
Earnings From Continuing Operations	470M	564M	698M	925M	1.06B
Net Income to Company	470M	564M	698M	925M	1.06B
Net Income - (IS)	470M	564M	698M	925M	1.06B
Net Income to Common Incl Extra Items	470M	564M	698M	925M	1.06B
Net Income to Common Excl. Extra Items	470M	564M	698M	925M	1.06B
Per Share Items
Net EPS - Basic	15.4	18.21	22.52	29.69	33.72
Basic EPS - Continuing Operations	15.4	18.21	22.52	29.69	33.72
Basic Weighted Average Shares Outstanding	30.5M	30.98M	31.01M	31.16M	31.51M
Net EPS - Diluted	15.31	18.17	22.41	29.59	33.61
Diluted EPS - Continuing Operations	15.31	18.17	22.41	29.59	33.61
Diluted Weighted Average Shares Outstanding	30.68M	31.05M	31.16M	31.26M	31.61M
Normalized Basic EPS	12.18	14.53	18.93	24.54	27.62
Normalized Diluted EPS	12.11	14.5	18.84	24.46	27.53
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	623M	693M	728M	955M	1.2B
EBITA	608M	665M	682M	900M	1.12B
EBIT	608M	665M	682M	900M	1.12B
EBITDAR	625M	697M	735M	966M	1.2B
Effective Tax Rate - (Ratio)	19.13	21.64	25.92	24.58	23.78
Total Current Taxes	127M	154M	244M	298M	336M
Total Deferred Taxes	-15.77M	2.14M	146K	4.02M	-4.45M
Normalized Net Income	371M	450M	587M	765M	870M
Interest on Long-Term Debt	12.79M	11.96M	4.78M	7.94M	7.82M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	3.09M	5.22M	3.52M	3.29M	3.13M
Net Rental Expense, Total	1.79M	4.26M	7.19M	10.88M	7.59M
Imputed Operating Lease Interest Expense	1.34M	2.35M	1.29M	10.32M	4.98M
Imputed Operating Lease Depreciation	456K	1.9M	5.9M	566K	2.61M
Stock-Based Comp., COGS (Total)	12.01M	10.5M	38.61M	37.37M	43.46M
Total Stock-Based Compensation	12.01M	10.5M	38.61M	37.37M	43.46M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	4.62B	6.52B	8.31B	9.97B	10.8B
Short Term Investments	-	-	-	23.91M	30.13M
Total Cash And Short Term Investments	4.62B	6.52B	8.31B	9.99B	10.83B
Accounts Receivable, Total	56.85M	89.35M	134M	132M	217M
Other Receivables	640M	382M	497M	667M	568M
Total Receivables	697M	471M	632M	799M	785M
Inventory	22.14M	87.89M	105M	99.85M	76.96M
Total Current Assets	5.34B	7.08B	9.04B	10.89B	11.69B
Gross Property Plant And Equipment	290M	465M	564M	708M	888M
Accumulated Depreciation	-88.7M	-143M	-200M	-300M	-419M
Net Property Plant And Equipment	201M	322M	365M	408M	469M
Long-term Investments	22.5M	12.26M	14.82M	9.49M	3.86M
Other Intangibles, Total	9.84M	8.14M	8.76M	8.5M	7.5M
Accounts Receivable Long-Term	79.34M	48.61M	24.2M	5.96M	3.05M
Deferred Tax Assets Long-Term	128M	144M	113M	105M	83.65M
Other Long-Term Assets, Total	-	-	-	-	-
Total Assets	5.78B	7.62B	9.57B	11.43B	12.26B
Liabilities
Accounts Payable, Total	8.99M	19.92M	14.11M	35.21M	36.17M
Accrued Expenses, Total	91.13M	128M	154M	219M	249M
Current Portion of Leases	23M	33.2M	50.67M	54.94M	69.1M
Current Income Taxes Payable	9.88M	4.44M	63.06M	23.9M	61.24M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	3.61B	4.8B	5.95B	6.68B	6.37B
Total Current Liabilities	3.74B	4.98B	6.24B	7.02B	6.79B
Long-Term Leases	120M	170M	172M	173M	183M
Deferred Tax Liability Non Current	16.4M	11.34M	6.46M	801K	624K
Other Non Current Liabilities	87.3M	41.74M	2.96M	1.94M	171K
Total Liabilities	3.97B	5.2B	6.42B	7.19B	6.97B
Common Stock, Total	310K	310K	310K	315K	315K
Additional Paid In Capital	336M	352M	390M	585M	657M
Retained Earnings	1.35B	1.91B	2.61B	3.53B	4.52B
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	128M	150M	151M	119M	108M
Total Common Equity	1.81B	2.41B	3.15B	4.23B	5.29B
Total Equity	1.81B	2.41B	3.15B	4.23B	5.29B
Total Liabilities And Equity	5.78B	7.62B	9.57B	11.43B	12.26B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	30.96M	30.99M	31.03M	31.49M	31.54M
ECS Total Common Shares Outstanding	30.96M	30.99M	31.03M	31.49M	31.54M
Book Value / Share	58.48	77.84	101.53	134.4	167.6
Tangible Book Value	1.8B	2.4B	3.14B	4.22B	5.28B
Tangible Book Value Per Share	58.16	77.58	101.25	134.13	167.36
Total Debt	143M	203M	223M	228M	252M
Net Debt	-4.47B	-6.32B	-8.08B	-9.76B	-10.58B
Debt Equivalent Oper. Leases	14.34M	34.04M	57.52M	87.06M	60.7M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	22.14M	87.89M	105M	99.85M	76.96M
Machinery, Total	98.38M	179M	217M	285M	384M
Full Time Employees	2.18K	3.33K	4.2K	4.34K	4.77K
Accumulated Allowance for Doubtful Accounts (Supple)	4.44M	4.05M	9.59M	13.94M	19.61M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	470M	564M	698M	925M	1.06B
Depreciation & Amortization - CF	31.92M	58.39M	81.93M	101M	133M
Depreciation & Amortization, Total	31.92M	58.39M	81.93M	101M	133M
Amortization of Deferred Charges, Total - (CF)	3.09M	5.22M	3.52M	3.29M	3.13M
(Gain) Loss on Sale of Investments - (CF)	460K	153K	-3.21M	-3.07M	-1.35M
Stock-Based Compensation (CF)	5.89M	1.15M	28.05M	35.16M	40.61M
Other Operating Activities, Total	-14.37M	-31.83M	50.02M	-11.07M	36.69M
Change In Accounts Receivable	19.78M	-32.65M	-45.1M	3.11M	-84.98M
Change In Inventories	-3.85M	-65.75M	-22.88M	4.65M	22.89M
Change In Accounts Payable	-11.05M	40.16M	19.56M	77.71M	31.12M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	1.32B	1.48B	1.06B	569M	-213M
Cash from Operations	1.82B	2.02B	1.87B	1.7B	1.03B
Capital Expenditure	-51.39M	-95.58M	-65.6M	-98.22M	-124M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Sale (Purchase) of Intangible assets	-2.96M	-3.52M	-4.14M	-3.03M	-2.13M
Investment in Marketable and Equity Securities, Total	12.22M	11.41M	-	-17.37M	-3.75M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-42.13M	-87.69M	-69.74M	-119M	-130M
Long-Term Debt Repaid, Total	-9.04M	-22.14M	-33.81M	-41.41M	-47.62M
Total Debt Repaid	-9.04M	-22.14M	-33.81M	-41.41M	-47.62M
Issuance of Common Stock	105M	9.93M	13.2M	112M	19.74M
Repurchase of Common Stock	-	-	-	-	-
Cash from Financing	96.24M	-12.22M	-20.61M	70.6M	-27.88M
Foreign Exchange Rate Adjustments	4.35M	-15M	4.95M	1.3M	-40.63M
Net Change in Cash	1.88B	1.91B	1.78B	1.66B	832M
Supplemental Items
Cash Interest Paid	12.79M	11.96M	4.78M	26.74M	19.7M
Cash Income Tax Paid (Refund)	127M	150M	155M	321M	264M
Levered Free Cash Flow	1.63B	1.77B	1.54B	1.2B	534M
Unlevered Free Cash Flow	1.64B	1.78B	1.54B	1.22B	547M
Change In Net Working Capital	-1.27B	-1.39B	-1.06B	-615M	208M
Net Debt Issued / Repaid	-9.04M	-22.14M	-33.81M	-41.41M	-47.62M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.65	6.2	4.96	5.36	5.92
Return on Total Capital	23	18.19	14.22	14.35	14.02
Return On Equity %	31.02	26.72	25.09	25.06	22.33
Return on Common Equity	31.02	26.72	25.09	25.06	22.33
Margin Analysis
Gross Profit Margin %	75.86	71.34	61.87	65.57	68.09
SG&A Margin	0.18	0.32	0.44	0.54	0.32
EBITDA Margin %	62.21	52.1	44.76	47.38	50.37
EBITA Margin %	60.68	49.97	41.93	44.65	47.17
EBIT Margin %	60.68	49.97	41.93	44.65	47.17
Income From Continuing Operations Margin %	46.9	42.41	42.95	45.92	44.71
Net Income Margin %	46.9	42.41	42.95	45.92	44.71
Net Avail. For Common Margin %	46.9	42.41	42.95	45.92	44.71
Normalized Net Income Margin	37.09	33.83	36.11	37.96	36.63
Levered Free Cash Flow Margin	163.24	133.27	94.53	59.6	22.48
Unlevered Free Cash Flow Margin	164.04	133.83	94.71	60.43	23
Asset Turnover
Asset Turnover	0.2	0.2	0.19	0.19	0.2
Fixed Assets Turnover	5.55	5.08	4.73	5.21	5.42
Receivables Turnover (Average Receivables)	15.18	18.2	14.54	14.93	13.47
Inventory Turnover (Average Inventory)	11.6	6.93	6.45	6.79	8.58
Short Term Liquidity
Current Ratio	1.43	1.42	1.45	1.55	1.72
Quick Ratio	1.42	1.4	1.43	1.54	1.71
Operating Cash Flow to Current Liabilities	0.49	0.41	0.3	0.24	0.15
Days Sales Outstanding (Average Receivables)	24.04	20.06	25.1	24.52	27.09
Days Outstanding Inventory (Average Inventory)	31.47	52.67	56.62	53.91	42.56
Average Days Payable Outstanding	12.92	11.8	9.75	13.1	17.72
Cash Conversion Cycle (Average Days)	42.59	60.93	71.97	65.33	51.93
Long Term Solvency
Total Debt/Equity	7.9	8.42	7.08	5.39	4.77
Total Debt / Total Capital	7.32	7.77	6.61	5.12	4.56
LT Debt/Equity	6.63	7.04	5.47	4.1	3.47
Long-Term Debt / Total Capital	6.14	6.5	5.11	3.89	3.31
Total Liabilities / Total Assets	68.65	68.33	67.07	62.96	56.88
EBIT / Interest Expense	47.53	55.57	142.55	33.64	56.9
EBITDA / Interest Expense	50.02	60.45	159.68	37.43	63.64
(EBITDA - Capex) / Interest Expense	46	52.46	145.97	33.75	57.36
Total Debt / EBITDA	0.22	0.28	0.29	0.23	0.2
Net Debt / EBITDA	-6.99	-8.74	-10.58	-9.75	-8.43
Total Debt / (EBITDA - Capex)	0.24	0.32	0.32	0.25	0.22
Net Debt / (EBITDA - Capex)	-7.6	-10.07	-11.58	-10.81	-9.36
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	46.38	32.82	22.24	23.91	17.94
Gross Profit, 1 Yr. Growth %	50.86	24.89	6.01	31.33	22.48
EBITDA, 1 Yr. Growth %	61.85	13.61	5.01	31.18	25.38
EBITA, 1 Yr. Growth %	62.62	11.77	2.57	31.94	24.61
EBIT, 1 Yr. Growth %	62.62	11.77	2.57	31.94	24.61
Earnings From Cont. Operations, 1 Yr. Growth %	79.96	20.1	23.79	32.48	14.85
Net Income, 1 Yr. Growth %	79.96	20.1	23.79	32.48	14.85
Normalized Net Income, 1 Yr. Growth %	84.48	23.87	30.46	30.26	13.81
Diluted EPS Before Extra, 1 Yr. Growth %	79.91	18.68	23.34	32.04	13.59
Accounts Receivable, 1 Yr. Growth %	-24.28	57.16	50.28	-1.65	64.32
Inventory, 1 Yr. Growth %	13.25	297.01	18.9	-4.45	-22.92
Net Property, Plant and Equip., 1 Yr. Growth %	25.59	60.4	13.13	11.88	14.91
Total Assets, 1 Yr. Growth %	38.89	31.87	25.56	19.41	7.28
Tangible Book Value, 1 Yr. Growth %	49.03	33.51	30.49	34.4	24.98
Common Equity, 1 Yr. Growth %	48.62	33.24	30.41	34.3	24.91
Cash From Operations, 1 Yr. Growth %	79.03	11.04	-7.48	-8.84	-39.56
Capital Expenditures, 1 Yr. Growth %	200.56	85.99	-31.36	49.71	25.9
Levered Free Cash Flow, 1 Yr. Growth %	80.86	8.97	-13.29	-21.88	-55.51
Unlevered Free Cash Flow, 1 Yr. Growth %	80.57	8.9	-13.49	-20.94	-55.11
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	36.91	39.43	27.42	23.08	20.89
Gross Profit, 2 Yr. CAGR %	35.91	37.26	15.07	18	26.83
EBITDA, 2 Yr. CAGR %	43.3	34.18	9.22	17.37	28.25
EBITA, 2 Yr. CAGR %	43.68	33.37	7.07	16.33	28.22
EBIT, 2 Yr. CAGR %	43.68	33.37	7.07	16.33	28.22
Earnings From Cont. Operations, 2 Yr. CAGR %	41.59	47.01	21.93	28.06	23.35
Net Income, 2 Yr. CAGR %	41.59	47.01	21.93	28.06	23.35
Normalized Net Income, 2 Yr. CAGR %	41.97	49.5	27.12	30.36	21.76
Diluted EPS Before Extra, 2 Yr. CAGR %	41.28	46.12	20.99	27.61	22.47
Accounts Receivable, 2 Yr. CAGR %	10.07	9.09	53.68	21.57	27.13
Inventory, 2 Yr. CAGR %	77.58	112.04	117.27	6.59	-14.18
Net Property, Plant and Equip., 2 Yr. CAGR %	49.53	41.93	34.7	12.5	13.38
Total Assets, 2 Yr. CAGR %	48.79	35.33	28.71	22.45	13.18
Tangible Book Value, 2 Yr. CAGR %	40.61	41.06	32.1	32.43	29.6
Common Equity, 2 Yr. CAGR %	40.41	40.72	31.92	32.34	29.52
Cash From Operations, 2 Yr. CAGR %	85.41	41	1.36	-8.16	-25.77
Capital Expenditures, 2 Yr. CAGR %	83.95	136.44	12.99	1.37	37.29
Levered Free Cash Flow, 2 Yr. CAGR %	94.55	40.04	-2.8	-17.7	-41.04
Unlevered Free Cash Flow, 2 Yr. CAGR %	94.37	39.88	-2.94	-17.3	-40.43
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	42.12	35.53	33.45	26.24	21.34
Gross Profit, 3 Yr. CAGR %	42.84	32.13	25.94	20.25	19.47
EBITDA, 3 Yr. CAGR %	51.24	31.7	23.65	16.1	19.98
EBITA, 3 Yr. CAGR %	52	31.19	22.19	14.79	19.03
EBIT, 3 Yr. CAGR %	52	31.19	22.19	14.79	19.03
Earnings From Cont. Operations, 3 Yr. CAGR %	53	34.03	38.82	25.35	23.5
Net Income, 3 Yr. CAGR %	53	34.03	38.82	25.35	23.5
Normalized Net Income, 3 Yr. CAGR %	53.38	34.66	42.86	28.16	24.59
Diluted EPS Before Extra, 3 Yr. CAGR %	52.82	33.31	38.09	24.56	22.75
Accounts Receivable, 3 Yr. CAGR %	10.33	23.94	21.38	32.44	34.42
Inventory, 3 Yr. CAGR %	41.2	132.2	74.85	65.22	-4.33
Net Property, Plant and Equip., 3 Yr. CAGR %	103.32	53.07	31.6	26.62	13.3
Total Assets, 3 Yr. CAGR %	45.88	42.92	32.02	25.53	17.17
Tangible Book Value, 3 Yr. CAGR %	46.1	38.2	37.52	32.86	29.9
Common Equity, 3 Yr. CAGR %	45.94	37.97	37.27	32.71	29.81
Cash From Operations, 3 Yr. CAGR %	67.98	56.29	22.53	-2.16	-20.11
Capital Expenditures, 3 Yr. CAGR %	66.96	84.63	56.56	24.1	8.97
Levered Free Cash Flow, 3 Yr. CAGR %	59.83	60.1	19.36	-9.62	-32.96
Unlevered Free Cash Flow, 3 Yr. CAGR %	59.97	59.97	19.18	-9.36	-32.54
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	43.43	43.54	36.05	30.4	28.28
Gross Profit, 5 Yr. CAGR %	46.01	43.95	31	26.29	26.29
EBITDA, 5 Yr. CAGR %	51.5	47.88	32.22	25.77	25.47
EBITA, 5 Yr. CAGR %	51.99	48.07	31.55	25.03	24.57
EBIT, 5 Yr. CAGR %	51.99	48.07	31.55	25.03	24.57
Earnings From Cont. Operations, 5 Yr. CAGR %	37.03	51.23	39.72	31.61	32.41
Net Income, 5 Yr. CAGR %	37.03	51.23	39.72	31.61	32.41
Normalized Net Income, 5 Yr. CAGR %	51.19	50.84	41.65	32.92	34.01
Diluted EPS Before Extra, 5 Yr. CAGR %	36.76	50.8	39.19	31	31.62
Accounts Receivable, 5 Yr. CAGR %	37.29	28.43	25.97	22.99	23.65
Inventory, 5 Yr. CAGR %	46.81	85.36	67.76	70.06	31.53
Net Property, Plant and Equip., 5 Yr. CAGR %	67.86	74.4	72.45	35.33	23.98
Total Assets, 5 Yr. CAGR %	33.24	46.28	38.75	34.36	24.13
Tangible Book Value, 5 Yr. CAGR %	42.08	44.18	40.33	35.91	34.3
Common Equity, 5 Yr. CAGR %	41.87	43.98	40.17	35.74	34.11
Cash From Operations, 5 Yr. CAGR %	56.54	58.73	37.25	26.35	0.27
Capital Expenditures, 5 Yr. CAGR %	37.29	58.07	42.82	45.26	48.55
Levered Free Cash Flow, 5 Yr. CAGR %	65.81	58.21	30.87	22.69	-9.98
Unlevered Free Cash Flow, 5 Yr. CAGR %	65.94	58.25	30.86	22.86	-9.69