Cash flow Edenred SE

Equities

EDEN

FR0010908533

Business Support Services

Market Closed - Euronext Paris Other stock markets 16:55:00 21/05/2026 BST			After hours 18:35:40
22.30 ^EUR	+3.48%		22.54	+1.08%

05-18	WEX Inc. : Three Segments, One Edge
05-15	Baillie Gifford European repositions portfolio as asset value falls	AN

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Published financial data: EDENRED SE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.58B	1.94B	2.31B	2.61B	2.73B
Total Revenues	1.58B	1.94B	2.31B	2.61B	2.73B
Cost of Goods Sold, Total	916M	1.14B	1.36B	1.53B	1.54B
Gross Profit	667M	806M	952M	1.08B	1.2B
Selling General & Admin Expenses, Total	-	-	-	-	-
Depreciation & Amortization - (IS)	132M	149M	193M	225M	266M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	39M	55M	216M	59M	66M
Other Operating Expenses, Total	171M	204M	409M	284M	332M
Operating Income	496M	602M	543M	793M	864M
Interest Expense, Total	-33M	-40M	-130M	-174M	-164M
Interest And Investment Income	68M	114M	227M	284M	265M
Net Interest Expenses	35M	74M	97M	110M	101M
Income (Loss) On Equity Invest.	8M	2M	-	-	-
Currency Exchange Gains (Loss)	-1M	-5M	-4M	-7M	-7M
Other Non Operating Income (Expenses)	-9M	-36M	-62M	-69M	-75M
EBT, Excl. Unusual Items	529M	637M	574M	827M	883M
Restructuring Charges	-9M	-8M	-10M	-12M	-22M
Merger & Related Restructuring Charges	-	-	-29M	-5M	-2M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-4M	-5M	11M	10M	-
Asset Writedown	-7M	-10M	-1M	-3M	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-15M	-9M	-11M	-18M	-21M
EBT, Incl. Unusual Items	494M	605M	534M	799M	838M
Income Tax Expense	151M	188M	226M	254M	274M
Earnings From Continuing Operations	343M	417M	308M	545M	564M
Net Income to Company	343M	417M	308M	545M	564M
Minority Interest	-30M	-31M	-41M	-38M	-43M
Net Income - (IS)	313M	386M	267M	507M	521M
Net Income to Common Incl Extra Items	313M	386M	267M	507M	521M
Net Income to Common Excl. Extra Items	313M	386M	267M	507M	521M
Per Share Items
Net EPS - Basic	1.26	1.55	1.07	2.07	2.18
Basic EPS - Continuing Operations	1.26	1.55	1.07	2.07	2.18
Basic Weighted Average Shares Outstanding	248M	249M	249M	245M	238M
Net EPS - Diluted	1.19	1.46	1.01	2.01	2.12
Diluted EPS - Continuing Operations	1.19	1.46	1.01	2.01	2.12
Diluted Weighted Average Shares Outstanding	263M	264M	264M	253M	246M
Normalized Basic EPS	1.21	1.47	1.28	1.95	2.13
Normalized Diluted EPS	1.14	1.39	1.2	1.9	2.07
Dividend Per Share	0.9	1	1.1	1.21	1.33
Payout Ratio	19.17	58.03	93.26	53.45	55.47
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	598M	720M	647M	974M	1.11B
EBITA	584M	707M	595M	960M	1.07B
EBIT	496M	602M	543M	793M	864M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	1.63B	2.03B	2.51B	2.86B	2.96B
Effective Tax Rate - (Ratio)	30.57	31.07	42.32	31.79	32.7
Total Current Taxes	123M	187M	251M	259M	274M
Total Deferred Taxes	28M	1M	-25M	-5M	-
Normalized Net Income	301M	367M	318M	479M	509M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	0	0	-1M	-2M	-2M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	12M	20M	21M	28M	23M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	12M	20M	21M	28M	23M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.49B	1.48B	1.35B	1.64B	1.88B
Short Term Investments	1.18B	1.54B	2.01B	1.39B	1.69B
Trading Asset Securities, Total	39M	-	-	-	-
Total Cash And Short Term Investments	2.72B	3.02B	3.36B	3.03B	3.58B
Accounts Receivable, Total	2.12B	2.66B	2.79B	2.76B	2.85B
Other Receivables	386M	517M	538M	549M	629M
Notes Receivable	-	-	-	-	-
Total Receivables	2.5B	3.18B	3.33B	3.31B	3.48B
Inventory	46M	59M	67M	62M	54M
Prepaid Expenses	34M	48M	67M	73M	67M
Restricted Cash	2.43B	2.12B	2.07B	1.87B	1.66B
Other Current Assets, Total	8M	11M	8M	7M	18M
Total Current Assets	7.74B	8.44B	8.9B	8.35B	8.86B
Gross Property Plant And Equipment	342M	370M	409M	443M	394M
Accumulated Depreciation	-186M	-213M	-249M	-262M	-237M
Net Property Plant And Equipment	156M	157M	160M	181M	157M
Long-term Investments	188M	177M	122M	100M	96M
Goodwill	1.51B	1.6B	2.78B	3.26B	3B
Other Intangibles, Total	677M	738M	1.25B	1.26B	1.36B
Deferred Tax Assets Long-Term	38M	35M	55M	83M	74M
Other Long-Term Assets, Total	19M	19M	25M	24M	25M
Total Assets	10.32B	11.17B	13.3B	13.27B	13.57B
Liabilities
Accounts Payable, Total	721M	1.03B	1.65B	1.79B	1.91B
Accrued Expenses, Total	154M	176M	222M	233M	248M
Short-term Borrowings	101M	124M	27M	304M	34M
Current Portion of Long-Term Debt	266M	55M	542M	574M	1.2B
Current Portion of Leases	28M	31M	36M	35M	37M
Current Income Taxes Payable	27M	46M	82M	70M	39M
Unearned Revenue Current, Total	76M	68M	83M	87M	85M
Other Current Liabilities	6.5B	6.96B	7.08B	6.76B	6.98B
Total Current Liabilities	7.88B	8.5B	9.72B	9.86B	10.53B
Long-Term Debt	3.06B	3.05B	3.78B	3.83B	3.47B
Long-Term Leases	86M	78M	80M	95M	82M
Pension & Other Post Retirement Benefits	26M	12M	13M	11M	12M
Deferred Tax Liability Non Current	137M	138M	256M	271M	279M
Other Non Current Liabilities	8M	8M	8M	8M	7M
Total Liabilities	11.19B	11.79B	13.86B	14.08B	14.39B
Common Stock, Total	499M	499M	499M	484M	474M
Additional Paid In Capital	1.06B	1.04B	1.04B	755M	619M
Retained Earnings	-87M	-1.86B	-1.91B	-1.77B	-1.57B
Treasury Stock	-67M	-57M	-73M	-83M	-50M
Comprehensive Income and Other	-2.35B	-340M	-230M	-291M	-391M
Total Common Equity	-953M	-718M	-679M	-908M	-922M
Minority Interest	84M	105M	110M	99M	104M
Total Equity	-869M	-613M	-569M	-809M	-818M
Total Liabilities And Equity	10.32B	11.17B	13.3B	13.27B	13.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	249M	249M	249M	240M	235M
ECS Total Common Shares Outstanding	249M	249M	249M	240M	235M
Book Value / Share	-3.83	-2.88	-2.73	-3.78	-3.92
Tangible Book Value	-3.14B	-3.06B	-4.71B	-5.43B	-5.28B
Tangible Book Value Per Share	-12.62	-12.29	-18.92	-22.64	-22.44
Total Debt	3.54B	3.34B	4.47B	4.84B	4.83B
Net Debt	820M	317M	1.11B	1.81B	1.25B
Debt Equivalent of Unfunded Proj. Benefit Obligation	26M	12M	13M	11M	12M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	84M	105M	110M	99M	104M
Equity Method Investments, Total	67M	67M	18M	8M	8M
Account Code - Inventory Valuation	6	6	6	6	6
Land - (BS)	2M	2M	2M	2M	2M
Buildings, Total	19M	19M	19M	16M	16M
Machinery, Total	133M	144M	156M	147M	143M
Full Time Employees	8.8K	10K	11.01K	12.32K	12.1K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	95M	115M	112M	118M	135M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	313M	386M	267M	507M	521M
Depreciation & Amortization - CF	44M	44M	141M	58M	79M
Amortization of Goodwill and Intangible Assets - (CF)	88M	105M	52M	167M	210M
Depreciation & Amortization, Total	132M	149M	193M	225M	289M
Minority Interest in Earnings - (CF)	30M	31M	41M	38M	43M
(Gain) Loss From Sale Of Asset	4M	14M	0	8M	21M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	16M	18M	11M	15M	22M
(Income) Loss On Equity Investments - (CF)	-8M	-2M	-	5M	1M
Stock-Based Compensation (CF)	12M	20M	21M	28M	23M
Other Operating Activities, Total	29M	38M	154M	24M	-60M
Change In Accounts Receivable	-376M	-545M	-124M	24M	85M
Change In Inventories	-3M	-13M	-8M	5M	-8M
Change In Accounts Payable	52M	312M	620M	140M	-118M
Change In Income Taxes	16M	19M	36M	-12M	31M
Change in Other Net Operating Assets	387M	586M	-159M	22M	420M
Cash from Operations	604M	1.01B	1.05B	1.03B	1.27B
Capital Expenditure	-114M	-151M	-190M	-217M	-198M
Sale of Property, Plant, and Equipment	25M	29M	12M	23M	15M
Cash Acquisitions	-72M	-77M	-1.04B	-504M	-16M
Investment in Marketable and Equity Securities, Total	-19M	-12M	-14M	-6M	-13M
Cash from Investing	-180M	-211M	-1.23B	-704M	-212M
Short Term Debt Issued, Total	-	-	-	120M	-
Long-Term Debt Issued, Total	416M	10M	1.2B	505M	756M
Total Debt Issued	416M	10M	1.2B	625M	756M
Short Term Debt Repaid, Total	-335M	-597M	-493M	-	-958M
Long-Term Debt Repaid, Total	-	-	-255M	-	-6M
Total Debt Repaid	-335M	-597M	-748M	-	-964M
Issuance of Common Stock	-	-	-	2M	-
Repurchase of Common Stock	-41M	-2M	-25M	-359M	-125M
Common Dividends Paid	-60M	-224M	-249M	-271M	-289M
Common & Preferred Stock Dividends Paid	-60M	-224M	-249M	-271M	-289M
Other Financing Activities, Total	-37M	-15M	-29M	-36M	-49M
Cash from Financing	-57M	-828M	147M	-39M	-671M
Foreign Exchange Rate Adjustments	10M	-10M	-1M	-73M	-76M
Net Change in Cash	377M	-36M	-30M	213M	311M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	424M	776M	983M	474M	908M
Unlevered Free Cash Flow	445M	801M	1.06B	583M	1.01B
Change In Net Working Capital	-105M	-407M	-701M	-51M	-357M
Net Debt Issued / Repaid	81M	-587M	450M	625M	-208M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.14	3.5	2.77	3.73	4.02
Return on Total Capital	12.59	13.94	10.24	12.5	13.44
Return On Equity %	-34.25	-56.28	-52.12	-79.1	-69.33
Return on Common Equity	-28.68	-46.2	-38.22	-63.89	-56.94
Margin Analysis
Gross Profit Margin %	42.14	41.46	41.19	41.28	43.78
SG&A Margin	-	-	-	-	-
EBITDA Margin %	37.78	37.04	28	37.33	40.63
EBITA Margin %	36.89	36.37	25.75	36.8	39.31
EBIT Margin %	31.33	30.97	23.5	30.39	31.63
Income From Continuing Operations Margin %	21.67	21.45	13.33	20.89	20.64
Net Income Margin %	19.77	19.86	11.55	19.43	19.07
Net Avail. For Common Margin %	19.77	19.86	11.55	19.43	19.07
Normalized Net Income Margin	18.99	18.88	13.75	18.35	18.63
Levered Free Cash Flow Margin	26.81	39.93	42.54	18.16	33.25
Unlevered Free Cash Flow Margin	28.11	41.22	46.06	22.33	37.01
Asset Turnover
Asset Turnover	0.16	0.18	0.19	0.2	0.2
Fixed Assets Turnover	10.41	12.42	14.58	15.3	16.17
Receivables Turnover (Average Receivables)	0.82	0.81	0.85	0.94	0.97
Inventory Turnover (Average Inventory)	20.58	21.68	21.57	23.75	26.48
Short Term Liquidity
Current Ratio	0.98	0.99	0.92	0.85	0.84
Quick Ratio	0.66	0.73	0.69	0.64	0.67
Operating Cash Flow to Current Liabilities	0.08	0.12	0.11	0.1	0.12
Days Sales Outstanding (Average Receivables)	445.24	449.02	430.54	389.43	374.95
Days Outstanding Inventory (Average Inventory)	17.73	16.84	16.92	15.41	13.78
Average Days Payable Outstanding	276.03	278.11	358.59	412.98	442.39
Cash Conversion Cycle (Average Days)	186.94	187.75	88.87	-8.14	-53.66
Long Term Solvency
Total Debt/Equity	-407.13	-545.02	-785.59	-597.9	-589.98
Total Debt / Total Capital	132.56	122.47	114.59	120.08	120.41
LT Debt/Equity	-361.68	-510.77	-679.26	-485.04	-434.47
Long-Term Debt / Total Capital	117.76	114.77	99.08	97.42	88.67
Total Liabilities / Total Assets	108.42	105.49	104.28	106.1	106.03
EBIT / Interest Expense	15.03	15.05	4.18	4.56	5.27
EBITDA / Interest Expense	19.03	18.78	5.66	5.85	7.03
(EBITDA - Capex) / Interest Expense	15.58	15	4.2	4.6	5.82
Total Debt / EBITDA	5.63	4.45	6.07	4.75	4.19
Net Debt / EBITDA	1.31	0.42	1.51	1.77	1.08
Total Debt / (EBITDA - Capex)	6.88	5.57	8.19	6.04	5.05
Net Debt / (EBITDA - Capex)	1.6	0.53	2.03	2.25	1.31
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.24	22.8	18.88	12.89	4.71
Gross Profit, 1 Yr. Growth %	16.2	20.84	18.11	13.13	11.05
EBITDA, 1 Yr. Growth %	18.42	20.4	-5.41	39.34	11.67
EBITA, 1 Yr. Growth %	18.94	21.06	-7.89	40.35	11.88
EBIT, 1 Yr. Growth %	20.68	21.37	-9.8	46.04	8.95
Earnings From Cont. Operations, 1 Yr. Growth %	28.95	21.57	-26.14	76.95	3.49
Net Income, 1 Yr. Growth %	31.51	23.32	-30.83	89.89	2.76
Normalized Net Income, 1 Yr. Growth %	24.87	22.12	-13.45	50.71	6.26
Diluted EPS Before Extra, 1 Yr. Growth %	22.68	22.69	-30.82	99.01	5.47
Accounts Receivable, 1 Yr. Growth %	21.57	25.72	4.65	-0.86	3.08
Inventory, 1 Yr. Growth %	6.98	28.26	13.56	-7.46	-12.9
Net Property, Plant and Equip., 1 Yr. Growth %	5.41	0.64	1.91	13.12	-13.26
Total Assets, 1 Yr. Growth %	9.49	8.24	18.98	-0.22	2.28
Tangible Book Value, 1 Yr. Growth %	-6.16	-2.39	53.9	15.35	-2.78
Common Equity, 1 Yr. Growth %	-22.52	-24.66	-5.43	33.73	1.54
Cash From Operations, 1 Yr. Growth %	-15.88	67.72	3.85	-2.19	23.42
Capital Expenditures, 1 Yr. Growth %	9.62	32.46	25.83	14.21	-8.76
Levered Free Cash Flow, 1 Yr. Growth %	-16.69	82.92	25.68	-51.8	83.95
Unlevered Free Cash Flow, 1 Yr. Growth %	-16.33	80.06	31.85	-45.26	67.77
Dividend Per Share, 1 Yr. Growth %	20	11.11	10	10	9.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.41	16.88	20.83	15.85	8.73
Gross Profit, 2 Yr. CAGR %	0.61	18.5	19.47	15.6	12.08
EBITDA, 2 Yr. CAGR %	-0.17	19.4	4.02	19.33	26.02
EBITA, 2 Yr. CAGR %	-0.09	20	0.94	21.9	25.31
EBIT, 2 Yr. CAGR %	-0.9	21.03	4.63	14.77	26.14
Earnings From Cont. Operations, 2 Yr. CAGR %	-0.43	25.21	-5.24	14.32	35.32
Net Income, 2 Yr. CAGR %	0.16	27.35	-7.64	14.61	39.69
Normalized Net Income, 2 Yr. CAGR %	-0.27	23.49	2.81	14.21	26.55
Diluted EPS Before Extra, 2 Yr. CAGR %	-3.95	22.68	-7.87	17.33	44.88
Accounts Receivable, 2 Yr. CAGR %	1.1	23.63	14.7	1.86	1.09
Inventory, 2 Yr. CAGR %	19.9	17.14	20.69	2.51	-10.22
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.92	3	1.27	7.37	-0.94
Total Assets, 2 Yr. CAGR %	7.78	8.87	13.49	8.96	1.02
Tangible Book Value, 2 Yr. CAGR %	-5.38	-4.3	22.57	33.24	5.9
Common Equity, 2 Yr. CAGR %	-10.62	-23.6	-15.59	12.46	16.53
Cash From Operations, 2 Yr. CAGR %	13.97	18.78	31.97	0.79	9.87
Capital Expenditures, 2 Yr. CAGR %	5.2	20.5	29.1	19.88	2.08
Levered Free Cash Flow, 2 Yr. CAGR %	37.6	23.45	52.21	-22.17	-3.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	34.33	22.74	54.66	-15.04	-2.54
Dividend Per Share, 2 Yr. CAGR %	13.39	15.47	10.55	10	9.96
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.06	7.38	17.54	18.12	12.01
Gross Profit, 3 Yr. CAGR %	6.83	6.94	18.37	17.32	14.06
EBITDA, 3 Yr. CAGR %	7.08	6.27	8.61	17.66	17.51
EBITA, 3 Yr. CAGR %	7.28	6.52	6.61	18.02	18.47
EBIT, 3 Yr. CAGR %	6.38	6.03	9.73	16.93	12.8
Earnings From Cont. Operations, 3 Yr. CAGR %	6.37	6.42	5.01	16.69	10.59
Net Income, 3 Yr. CAGR %	7.21	7.35	3.91	17.44	10.51
Normalized Net Income, 3 Yr. CAGR %	7.48	6.7	9.69	16.79	11.5
Diluted EPS Before Extra, 3 Yr. CAGR %	3.93	4.21	1.36	19.09	13.24
Accounts Receivable, 3 Yr. CAGR %	4.16	8.72	16.95	9.26	2.26
Inventory, 3 Yr. CAGR %	19.43	22.62	15.93	10.46	-2.91
Net Property, Plant and Equip., 3 Yr. CAGR %	44.22	-2.43	2.63	5.08	0
Total Assets, 3 Yr. CAGR %	12.4	7.94	12.14	8.72	6.68
Tangible Book Value, 3 Yr. CAGR %	1.84	-4.4	12.12	20.11	19.95
Common Equity, 3 Yr. CAGR %	-15.17	-15.57	-17.97	-1.6	8.69
Cash From Operations, 3 Yr. CAGR %	4.72	29.63	13.58	19.43	7.83
Capital Expenditures, 3 Yr. CAGR %	8.2	13.6	22.25	23.93	9.45
Levered Free Cash Flow, 3 Yr. CAGR %	10.96	51.3	24.51	3.75	5.11
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.61	48.11	26.02	9.4	7.79
Dividend Per Share, 3 Yr. CAGR %	1.53	12.62	13.62	10.37	9.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.09	9.18	11.73	10.69	13.93
Gross Profit, 5 Yr. CAGR %	9.69	10.06	11.72	10.32	15.81
EBITDA, 5 Yr. CAGR %	11.24	10.6	5.85	10.17	17.06
EBITA, 5 Yr. CAGR %	11.69	11.03	4.7	10.41	16.95
EBIT, 5 Yr. CAGR %	11.03	10.71	5.68	9.45	16.02
Earnings From Cont. Operations, 5 Yr. CAGR %	12.3	8.53	1.56	9.51	16.22
Net Income, 5 Yr. CAGR %	11.7	9.88	1	10.2	16.96
Normalized Net Income, 5 Yr. CAGR %	10.59	12.06	5.59	9.64	16.15
Diluted EPS Before Extra, 5 Yr. CAGR %	9.1	7.44	-0.96	9.28	16.93
Accounts Receivable, 5 Yr. CAGR %	8.41	9.67	8.26	5.92	10.33
Inventory, 5 Yr. CAGR %	13.9	19.71	19.93	14.14	4.66
Net Property, Plant and Equip., 5 Yr. CAGR %	32.64	27.83	25.21	1.38	1.19
Total Assets, 5 Yr. CAGR %	12.88	12.46	12.83	8.34	7.55
Tangible Book Value, 5 Yr. CAGR %	5.09	0.85	9.67	9.18	9.59
Common Equity, 5 Yr. CAGR %	-4.98	-13.78	-15.34	-5.31	-5.6
Cash From Operations, 5 Yr. CAGR %	7.9	15.45	14.87	17.22	12.08
Capital Expenditures, 5 Yr. CAGR %	14.47	14.12	16.12	16.07	13.74
Levered Free Cash Flow, 5 Yr. CAGR %	3.83	11.9	25.91	16.15	12.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.39	11.23	26.48	18.76	13.71
Dividend Per Share, 5 Yr. CAGR %	7.74	3.3	5.05	11.57	12.14