Cash flow BELIMO Holding AG

Equities

BEAN

CH1101098163

Industrial Machinery & Equipment

Market Closed - Swiss Exchange Other stock markets 16:31:30 06/03/2026 GMT			5-day change	1st Jan Change
689.00 ^CHF	-2.96%		-10.75%	-11.78%

02-27	Belimo: DCF cut by -11.9%
02-25	Berenberg Lifts Belimo Price Target After 'Strong' FY25 Results; Buy Rating Kept	MT

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Published financial data: BELIMO HOLDING AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	765M	847M	859M	944M	1.12B
Other Revenues, Total	-	-	-	-	-
Total Revenues	765M	847M	859M	944M	1.12B
Cost of Goods Sold, Total	307M	340M	339M	364M	444M
Gross Profit	459M	507M	520M	580M	677M
Selling General & Admin Expenses, Total	214M	242M	251M	274M	307M
Depreciation & Amortization - (IS)	33.03M	28.83M	28.47M	29.89M	31.44M
Amortization of Goodwill and Intangible Assets - (IS)	-	7.84M	7.37M	6.57M	6.92M
Other Operating Expenses	66.41M	76.1M	80.17M	88.26M	98.97M
Other Operating Expenses, Total	313M	355M	368M	399M	444M
Operating Income	145M	152M	152M	181M	233M
Interest Expense, Total	-979K	-604K	-1.69M	-1.02M	-816K
Interest And Investment Income	259K	137K	373K	810K	240K
Net Interest Expenses	-720K	-467K	-1.32M	-214K	-576K
Currency Exchange Gains (Loss)	-750K	-4.63M	-8.56M	609K	-10.43M
Other Non Operating Income (Expenses)	-514K	244K	-177K	-5.37M	1.34M
EBT, Excl. Unusual Items	143M	148M	142M	176M	223M
Merger & Related Restructuring Charges	-	-	-	-	-
Other Unusual Items	100K	-	-	-	-
EBT, Incl. Unusual Items	143M	148M	142M	176M	223M
Income Tax Expense	27.88M	24.81M	5.57M	29.43M	41.57M
Earnings From Continuing Operations	116M	123M	137M	147M	182M
Net Income to Company	116M	123M	137M	147M	182M
Minority Interest	167K	99K	118K	60K	-
Net Income - (IS)	116M	123M	137M	147M	182M
Net Income to Common Incl Extra Items	116M	123M	137M	147M	182M
Net Income to Common Excl. Extra Items	116M	123M	137M	147M	182M
Per Share Items
Net EPS - Basic	9.41	9.99	11.14	11.94	14.77
Basic EPS - Continuing Operations	9.41	9.99	11.14	11.94	14.77
Basic Weighted Average Shares Outstanding	12.3M	12.3M	12.3M	12.3M	12.3M
Net EPS - Diluted	9.41	9.99	11.14	11.94	14.77
Diluted EPS - Continuing Operations	9.41	9.99	11.14	11.94	14.77
Diluted Weighted Average Shares Outstanding	12.3M	12.3M	12.3M	12.3M	12.3M
Normalized Basic EPS	7.29	7.5	7.25	8.96	11.34
Normalized Diluted EPS	7.29	7.5	7.25	8.96	11.34
Dividend Per Share	8.5	8.5	8.5	9.5	10
Payout Ratio	79.75	85.12	76.33	71.22	64.34
Supplemental Items
EBITDA	169M	179M	180M	208M	261M
EBITA	146M	154M	156M	183M	234M
EBIT	145M	152M	152M	181M	233M
EBITDAR	169M	-	-	-	-
Effective Tax Rate - (Ratio)	19.44	16.82	3.91	16.71	18.62
Total Current Taxes	24.67M	25.6M	14.36M	29.48M	38.72M
Total Deferred Taxes	3.2M	-792K	-8.79M	-51K	2.85M
Normalized Net Income	89.72M	92.29M	89.13M	110M	139M
Interest Capitalized	-	-	-	-	107K
Interest on Long-Term Debt	466K	326K	342K	555K	612K
Non-Cash Pension Expense	-711K	-4K	-78K	-39K	-17K
Supplemental Operating Expense Items
Marketing Expenses	6.16M	9.53M	9M	9.48M	11.42M
Selling and Marketing Expenses	6.16M	9.53M	9M	9.48M	11.42M
Research And Development Expense From Footnotes	55.98M	57.1M	70.2M	71.7M	71.9M
Net Rental Expense, Total	480K	-	-	-	-
Imputed Operating Lease Interest Expense	304K	-	-	-	-
Imputed Operating Lease Depreciation	176K	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	3.89M	3.25M	3.28M	3.98M	2.21M
Total Stock-Based Compensation	3.89M	3.25M	3.28M	3.98M	2.21M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	109M	86.78M	111M	97.17M	101M
Short Term Investments	60M	25M	1.96M	40.03M	15.35M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	169M	112M	113M	137M	116M
Accounts Receivable, Total	98.2M	110M	111M	127M	155M
Other Receivables	7.47M	9.01M	8.27M	5.41M	2.73M
Total Receivables	106M	119M	119M	132M	158M
Inventory	126M	176M	153M	163M	207M
Other Current Assets, Total	6.8M	6.74M	5.22M	12.42M	18.17M
Total Current Assets	408M	414M	390M	445M	499M
Gross Property Plant And Equipment	392M	439M	458M	489M	531M
Accumulated Depreciation	-217M	-240M	-255M	-283M	-302M
Net Property Plant And Equipment	174M	198M	202M	206M	230M
Long-term Investments	4.8M	6.8M	5.89M	7.56M	3.83M
Other Intangibles, Total	17.33M	20.68M	16.87M	17.39M	16.96M
Deferred Tax Assets Long-Term	10.37M	11.79M	19.65M	20.55M	21.36M
Other Long-Term Assets, Total	27.55M	20.25M	27.35M	67.57M	108M
Total Assets	643M	672M	662M	764M	879M
Liabilities
Accounts Payable, Total	25.57M	26.39M	21.64M	39.34M	60.64M
Accrued Expenses, Total	50.45M	55.75M	51.71M	65.78M	80.39M
Current Portion of Long-Term Debt	-	290K	3.81M	3.52M	129K
Current Portion of Leases	3.54M	3.2M	-	4.05M	7.24M
Current Income Taxes Payable	9.49M	19.61M	9.21M	12.64M	18.18M
Other Current Liabilities	25.4M	28.39M	26.93M	30.01M	36.92M
Total Current Liabilities	114M	134M	113M	155M	203M
Long-Term Debt	1.23M	1.51M	402K	9.82M	15.6M
Long-Term Leases	6M	6.47M	10.61M	7.98M	23.68M
Pension & Other Post Retirement Benefits	5.38M	5.17M	5.54M	6.14M	6.35M
Deferred Tax Liability Non Current	2.13M	2.51M	785K	1.62M	6.08M
Other Non Current Liabilities	2.15M	930K	862K	2.06M	1.77M
Total Liabilities	131M	150M	132M	183M	257M
Common Stock, Total	615K	615K	615K	615K	615K
Retained Earnings	503M	520M	547M	584M	648M
Treasury Stock	-606K	-552K	-473K	-71K	-24K
Comprehensive Income and Other	8.11M	2.17M	-16.06M	-3.96M	-26.83M
Total Common Equity	511M	522M	531M	581M	622M
Minority Interest	37K	-71K	-142K	-	-
Total Equity	511M	522M	530M	581M	622M
Total Liabilities And Equity	643M	672M	662M	764M	879M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.3M	12.3M	12.3M	12.3M	12.3M
ECS Total Common Shares Outstanding	12.3M	12.3M	12.3M	12.3M	12.3M
Book Value / Share	41.57	42.43	43.14	47.21	50.56
Tangible Book Value	494M	501M	514M	563M	605M
Tangible Book Value Per Share	40.16	40.75	41.77	45.8	49.18
Total Debt	10.77M	11.47M	14.82M	25.36M	46.64M
Net Debt	-159M	-100M	-97.97M	-112M	-69.35M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-35.94M	-33.56M	-29.93M	-33.7M	-71.18M
Debt Equivalent Oper. Leases	3.84M	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	37K	-71K	-142K	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	71.56M	99.22M	86.92M	89.36M	106M
Inventories - Work In Process, Total	625K	536K	551K	32K	569K
Inventories - Finished Goods, Total	64.17M	90.14M	80.46M	92.52M	117M
Land - (BS)	227M	263M	268M	282M	306M
Machinery, Total	164M	176M	190M	207M	225M
Full Time Employees	1.69K	1.91K	2K	2.07K	2.39K
Part Time Employees	233	254	255	291	319
Accumulated Allowance for Doubtful Accounts (Supple)	1.81M	3M	2.86M	4.49M	4.09M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	116M	123M	137M	147M	182M
Depreciation & Amortization - CF	26.49M	28.83M	28.47M	29.89M	31.44M
Amortization of Goodwill and Intangible Assets - (CF)	1.11M	1.83M	3.36M	1.6M	1.3M
Depreciation & Amortization, Total	27.6M	30.66M	31.84M	31.49M	32.74M
Amortization of Deferred Charges, Total - (CF)	5.43M	6.02M	4.01M	4.97M	5.63M
(Gain) Loss From Sale Of Asset	-260K	-288K	-282K	-370K	-225K
Stock-Based Compensation (CF)	3.89M	3.25M	3.28M	3.98M	2.21M
Other Operating Activities, Total	7.13M	6.9M	-25.38M	-1.04M	9.98M
Change In Accounts Receivable	-3.26M	-	-	-	-
Change In Inventories	-	-	-	-	-
Change In Accounts Payable	23.53M	-	-	-	-
Change in Other Net Operating Assets	-26.7M	-56.47M	6.54M	8.97M	-47.09M
Cash from Operations	153M	113M	157M	195M	185M
Capital Expenditure	-38.94M	-42.69M	-38.34M	-58.69M	-79.42M
Sale of Property, Plant, and Equipment	416K	266K	379K	461K	237K
Cash Acquisitions	-465K	-	-	-	-
Sale (Purchase) of Intangible assets	-7.79M	-12.01M	-8.7M	-4.36M	-7.41M
Investment in Marketable and Equity Securities, Total	-60.99M	32.64M	25.28M	-40.13M	25.05M
Other Investing Activities, Total	256K	132K	295K	771K	222K
Cash from Investing	-108M	-21.66M	-21.08M	-102M	-61.33M
Long-Term Debt Issued, Total	-	-	63.67M	36.14M	6.16M
Total Debt Issued	-	-	63.67M	36.14M	6.16M
Long-Term Debt Repaid, Total	-4.22M	-3.84M	-63.53M	-34.24M	-4.65M
Total Debt Repaid	-4.22M	-3.84M	-63.53M	-34.24M	-4.65M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-5.18M	-4.07M	-3.58M	-3.99M	-430K
Common Dividends Paid	-92.24M	-105M	-105M	-105M	-117M
Common & Preferred Stock Dividends Paid	-92.24M	-105M	-105M	-105M	-117M
Other Financing Activities, Total	401K	134K	-679K	-1.18M	-880K
Cash from Financing	-101M	-112M	-109M	-108M	-117M
Foreign Exchange Rate Adjustments	159K	-1.52M	-3.17M	1.32M	-3.4M
Miscellaneous Cash Flow Adjustments	1K	-1K	-1K	1K	1K
Net Change in Cash	-55.53M	-22.63M	24.05M	-13.67M	3.47M
Supplemental Items
Cash Interest Paid	854K	527K	1.26M	1.5M	880K
Cash Income Tax Paid (Refund)	21.43M	15.81M	25.09M	30.32M	27.67M
Levered Free Cash Flow	75.01M	35.89M	89.62M	97.49M	71.69M
Unlevered Free Cash Flow	75.62M	36.27M	90.68M	98.13M	72.2M
Change In Net Working Capital	5.37M	44.18M	-3.3M	-7.54M	27.07M
Net Debt Issued / Repaid	-4.22M	-3.84M	138K	1.9M	1.51M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	14.81	14.49	14.29	15.88	17.72
Return on Total Capital	17.71	18.05	17.67	19.66	22.84
Return On Equity %	23.09	23.75	26.01	26.41	30.21
Return on Common Equity	23.12	23.77	26.03	26.41	30.21
Margin Analysis
Gross Profit Margin %	59.91	59.89	60.55	61.48	60.4
SG&A Margin	27.94	28.58	29.28	29.08	27.37
EBITDA Margin %	22.04	21.13	20.99	22.08	23.28
EBITA Margin %	19.12	18.21	18.15	19.36	20.89
EBIT Margin %	18.98	17.99	17.75	19.19	20.78
Income From Continuing Operations Margin %	15.09	14.49	15.93	15.54	16.2
Net Income Margin %	15.11	14.5	15.95	15.55	16.2
Net Avail. For Common Margin %	15.11	14.5	15.95	15.55	16.2
Normalized Net Income Margin	11.72	10.9	10.38	11.67	12.45
Levered Free Cash Flow Margin	9.8	4.24	10.44	10.33	6.4
Unlevered Free Cash Flow Margin	9.88	4.28	10.56	10.4	6.44
Asset Turnover
Asset Turnover	1.25	1.29	1.29	1.32	1.36
Fixed Assets Turnover	4.32	4.54	4.29	4.63	5.15
Receivables Turnover (Average Receivables)	8.53	8.12	7.76	7.94	7.94
Inventory Turnover (Average Inventory)	2.65	2.25	2.06	2.3	2.4
Short Term Liquidity
Current Ratio	3.57	3.1	3.44	2.86	2.45
Quick Ratio	2.4	1.73	2.05	1.73	1.35
Operating Cash Flow to Current Liabilities	1.34	0.84	1.39	1.25	0.91
Days Sales Outstanding (Average Receivables)	42.79	44.96	47.06	46.12	45.94
Days Outstanding Inventory (Average Inventory)	137.91	162.49	177.01	158.84	152.17
Average Days Payable Outstanding	24.73	24.35	27.8	29.83	37.4
Cash Conversion Cycle (Average Days)	155.98	183.09	196.26	175.13	160.71
Long Term Solvency
Total Debt/Equity	2.11	2.2	2.79	4.37	7.5
Total Debt / Total Capital	2.06	2.15	2.72	4.18	6.98
LT Debt/Equity	1.41	1.53	2.08	3.06	6.32
Long-Term Debt / Total Capital	1.38	1.5	2.02	2.94	5.87
Total Liabilities / Total Assets	20.44	22.36	19.86	23.96	29.24
EBIT / Interest Expense	148.38	252.26	90.06	176.88	285.36
EBITDA / Interest Expense	176.57	303.01	108.86	207.63	325.48
(EBITDA - Capex) / Interest Expense	136.8	232.33	86.22	150.32	228.14
Total Debt / EBITDA	0.06	0.06	0.08	0.12	0.18
Net Debt / EBITDA	-0.92	-0.55	-0.53	-0.53	-0.26
Total Debt / (EBITDA - Capex)	0.08	0.08	0.1	0.16	0.25
Net Debt / (EBITDA - Capex)	-1.18	-0.71	-0.67	-0.73	-0.37
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.75	10.66	1.4	9.91	18.75
Gross Profit, 1 Yr. Growth %	16.19	10.61	2.53	11.6	16.67
EBITDA, 1 Yr. Growth %	30.23	5.56	1.09	16.74	25.18
EBITA, 1 Yr. Growth %	35.51	4.72	1.06	18.59	28.14
EBIT, 1 Yr. Growth %	35.93	4.81	0.07	18.8	28.56
Earnings From Cont. Operations, 1 Yr. Growth %	33.31	6.23	11.53	7.22	23.79
Net Income, 1 Yr. Growth %	33.39	6.16	11.54	7.17	23.74
Normalized Net Income, 1 Yr. Growth %	43.97	2.8	-3.43	23.59	26.64
Diluted EPS Before Extra, 1 Yr. Growth %	33.39	6.17	11.53	7.17	23.72
Accounts Receivable, 1 Yr. Growth %	20.83	12.44	0.54	14.28	22.4
Inventory, 1 Yr. Growth %	19.84	39.34	-13.39	6.9	26.97
Net Property, Plant and Equip., 1 Yr. Growth %	-3.19	13.8	2.02	1.6	11.7
Total Assets, 1 Yr. Growth %	10.15	4.56	-1.49	15.36	15.07
Tangible Book Value, 1 Yr. Growth %	4.15	1.45	2.52	9.65	7.37
Common Equity, 1 Yr. Growth %	4.5	2.06	1.69	9.44	7.08
Cash From Operations, 1 Yr. Growth %	21.79	-26.26	39.08	24.09	-5.09
Capital Expenditures, 1 Yr. Growth %	70.84	9.64	-10.18	53.07	35.33
Levered Free Cash Flow, 1 Yr. Growth %	-3.44	-52.19	140.95	8.78	-26.46
Unlevered Free Cash Flow, 1 Yr. Growth %	-3.56	-52.08	141.34	8.22	-26.42
Dividend Per Share, 1 Yr. Growth %	13.33	0	0	11.76	5.26
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.11	13.17	5.93	5.57	14.24
Gross Profit, 2 Yr. CAGR %	5.27	13.37	6.49	6.97	14.11
EBITDA, 2 Yr. CAGR %	7.55	17.55	3.12	8.11	20.89
EBITA, 2 Yr. CAGR %	8.01	19.48	2.88	8.86	23.27
EBIT, 2 Yr. CAGR %	8.29	19.41	2.41	9.03	23.58
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.34	19	8.85	9.35	15.21
Net Income, 2 Yr. CAGR %	-2.28	19	8.82	9.33	15.16
Normalized Net Income, 2 Yr. CAGR %	9.44	21.7	-0.36	9.25	25.11
Diluted EPS Before Extra, 2 Yr. CAGR %	-2.28	19	8.82	9.33	15.15
Accounts Receivable, 2 Yr. CAGR %	5.26	16.56	6.33	7.19	18.27
Inventory, 2 Yr. CAGR %	10.52	29.22	9.85	-3.78	16.5
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.78	4.96	7.75	1.81	6.53
Total Assets, 2 Yr. CAGR %	3.32	7.32	1.49	6.61	15.22
Tangible Book Value, 2 Yr. CAGR %	-0.18	2.8	1.98	6.02	8.5
Common Equity, 2 Yr. CAGR %	0.39	3.27	1.87	5.49	8.25
Cash From Operations, 2 Yr. CAGR %	10.48	-5.23	1.27	31.37	8.52
Capital Expenditures, 2 Yr. CAGR %	4.06	36.86	-0.76	17.25	43.92
Levered Free Cash Flow, 2 Yr. CAGR %	10.52	-32.03	9.26	61.9	-10.56
Unlevered Free Cash Flow, 2 Yr. CAGR %	10.41	-31.99	9.46	61.61	-10.77
Dividend Per Share, 2 Yr. CAGR %	6.46	6.46	0	5.72	8.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.98	6.93	9.1	7.24	9.79
Gross Profit, 3 Yr. CAGR %	6.75	7.02	9.63	8.17	10.11
EBITDA, 3 Yr. CAGR %	8.85	7.07	11.65	7.13	13.52
EBITA, 3 Yr. CAGR %	9.45	7.11	12.99	7.46	14.94
EBIT, 3 Yr. CAGR %	9.77	7.15	12.58	7.61	15.19
Earnings From Cont. Operations, 3 Yr. CAGR %	10.24	0.44	16.46	8.3	13.97
Net Income, 3 Yr. CAGR %	10.3	0.45	16.46	8.26	13.94
Normalized Net Income, 3 Yr. CAGR %	11.02	7.21	12.67	7.06	14.76
Diluted EPS Before Extra, 3 Yr. CAGR %	10.29	0.46	16.46	8.26	13.93
Accounts Receivable, 3 Yr. CAGR %	4.05	7.6	10.96	8.91	12.04
Inventory, 3 Yr. CAGR %	8.88	19.39	13.09	8.86	5.54
Net Property, Plant and Equip., 3 Yr. CAGR %	2.42	1.75	3.97	5.66	5.01
Total Assets, 3 Yr. CAGR %	6.54	3.73	4.3	5.92	9.36
Tangible Book Value, 3 Yr. CAGR %	5.33	0.36	2.7	4.48	6.47
Common Equity, 3 Yr. CAGR %	5.35	0.95	2.74	4.34	6.02
Cash From Operations, 3 Yr. CAGR %	10.34	-3.45	7.69	8.37	17.88
Capital Expenditures, 3 Yr. CAGR %	34.06	5.89	18.94	14.66	22.99
Levered Free Cash Flow, 3 Yr. CAGR %	-0.25	-16.39	4.88	9.1	24.45
Unlevered Free Cash Flow, 3 Yr. CAGR %	-0.01	-16.38	4.96	9.04	24.33
Dividend Per Share, 3 Yr. CAGR %	19.35	4.26	4.26	3.78	5.57
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.43	7.84	5.96	6.38	11.13
Gross Profit, 5 Yr. CAGR %	7.87	8.21	6.65	7	11.4
EBITDA, 5 Yr. CAGR %	9.58	9.53	6.63	7.41	15.03
EBITA, 5 Yr. CAGR %	10.66	10.41	6.9	7.81	16.73
EBIT, 5 Yr. CAGR %	10.81	10.47	6.78	7.9	16.86
Earnings From Cont. Operations, 5 Yr. CAGR %	10.61	9.63	9.68	3.91	15.96
Net Income, 5 Yr. CAGR %	10.65	9.64	9.7	3.91	15.94
Normalized Net Income, 5 Yr. CAGR %	10.96	9.35	6.33	8.02	17.49
Diluted EPS Before Extra, 5 Yr. CAGR %	10.63	9.64	9.7	3.91	15.93
Accounts Receivable, 5 Yr. CAGR %	5.68	5.73	4.95	7.44	13.83
Inventory, 5 Yr. CAGR %	9.53	13.11	9.27	9.52	14.44
Net Property, Plant and Equip., 5 Yr. CAGR %	0.94	3.88	4.52	1.78	4.99
Total Assets, 5 Yr. CAGR %	7.3	6.44	4.49	4.87	8.54
Tangible Book Value, 5 Yr. CAGR %	6.6	4.76	3.98	2.59	4.99
Common Equity, 5 Yr. CAGR %	6.74	4.76	3.95	2.74	4.91
Cash From Operations, 5 Yr. CAGR %	11.13	6.51	6.62	9.21	8.02
Capital Expenditures, 5 Yr. CAGR %	27.47	15.05	18.86	10.29	28.36
Levered Free Cash Flow, 5 Yr. CAGR %	4.11	-2.87	3.47	9.68	-1.59
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.25	-2.7	3.69	9.6	-1.64
Dividend Per Share, 5 Yr. CAGR %	17.78	14.87	11.2	4.84	5.92