Cash flow Givaudan SA

Equities

GIVN

CH0010645932

Specialty Chemicals

Market Closed - Swiss Exchange Other stock markets 16:31:15 20/01/2026 GMT			5-day change	1st Jan Change
3,123.00 ^CHF	-0.41%		-2.28%	-0.73%

08:05am	Treatt plc Announces Appointment of Helga Moelschl as Non-Executive Director, Effective February 1, 2026	CI
01-19	GIVAUDAN AG : Berenberg maintains a Buy rating	ZD

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Published financial data: GIVAUDAN SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	6.32B	6.68B	7.12B	6.92B	7.41B
Total Revenues	6.32B	6.68B	7.12B	6.92B	7.41B
Cost of Goods Sold, Total	3.66B	3.83B	4.36B	4.07B	4.14B
Gross Profit	2.66B	2.86B	2.76B	2.85B	3.27B
Selling General & Admin Expenses, Total	1.07B	1.16B	1.11B	1.1B	1.22B
R&D Expenses	536M	562M	522M	519M	565M
Other Operating Expenses	20M	29M	30M	78M	85M
Other Operating Expenses, Total	1.63B	1.76B	1.66B	1.7B	1.87B
Operating Income	1.03B	1.1B	1.1B	1.14B	1.4B
Interest Expense, Total	-82M	-89M	-95M	-114M	-114M
Interest And Investment Income	5M	8M	11M	8M	26M
Net Interest Expenses	-77M	-81M	-84M	-106M	-88M
Income (Loss) On Equity Invest.	3M	2M	11M	5M	8M
Currency Exchange Gains (Loss)	-52M	43M	96M	96M	-58M
Other Non Operating Income (Expenses)	15M	-81M	-191M	-111M	71M
EBT, Excl. Unusual Items	920M	982M	930M	1.03B	1.33B
Restructuring Charges	-13M	-3M	-	-30M	-
Merger & Related Restructuring Charges	-25M	-12M	-5M	-3M	-4M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-6M	-2M	3M	-5M	-3M
Asset Writedown	-	-	-	-1M	-12M
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	876M	965M	928M	989M	1.31B
Income Tax Expense	133M	144M	72M	96M	223M
Earnings From Continuing Operations	743M	821M	856M	893M	1.09B
Net Income to Company	743M	821M	856M	893M	1.09B
Net Income - (IS)	743M	821M	856M	893M	1.09B
Net Income to Common Incl Extra Items	743M	821M	856M	893M	1.09B
Net Income to Common Excl. Extra Items	743M	821M	856M	893M	1.09B
Per Share Items
Net EPS - Basic	80.59	89.03	92.83	96.81	118.17
Basic EPS - Continuing Operations	80.59	89.03	92.83	96.81	118.17
Basic Weighted Average Shares Outstanding	9.22M	9.22M	9.22M	9.22M	9.22M
Net EPS - Diluted	79.96	88.37	92.51	96.47	117.63
Diluted EPS - Continuing Operations	79.96	88.37	92.51	96.47	117.63
Diluted Weighted Average Shares Outstanding	9.29M	9.29M	9.25M	9.26M	9.27M
Normalized Basic EPS	62.37	66.56	63.03	69.65	90.25
Normalized Diluted EPS	61.88	66.06	62.82	69.41	89.84
Dividend Per Share	64	66	67	68	70
Payout Ratio	76.85	71.74	70.91	69.09	57.52
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	1.33B	1.4B	1.37B	1.39B	1.65B
EBITA	1.18B	1.25B	1.21B	1.24B	1.5B
EBIT	1.03B	1.1B	1.1B	1.14B	1.4B
EBITDAR	1.35B	1.42B	1.38B	1.4B	1.66B
Effective Tax Rate - (Ratio)	15.18	14.92	7.76	9.71	16.98
Total Current Taxes	170M	187M	57M	158M	219M
Total Deferred Taxes	-37M	-43M	15M	-62M	4M
Normalized Net Income	575M	614M	581M	642M	832M
Interest on Long-Term Debt	10M	-	-	-	-
Non-Cash Pension Expense	7M	3M	3M	3M	2M
Supplemental Operating Expense Items
Selling and Marketing Expenses	848M	921M	907M	897M	967M
General and Administrative Expenses	218M	239M	200M	202M	249M
Research And Development Expense From Footnotes	536M	562M	522M	519M	565M
Net Rental Expense, Total	17M	18M	19M	7M	6M
Imputed Operating Lease Interest Expense	2.6M	2.81M	2.98M	1.29M	1.13M
Imputed Operating Lease Depreciation	14.4M	15.19M	16.02M	5.71M	4.87M
Stock-Based Comp., Other (Total)	56M	67M	18M	29M	59M
Total Stock-Based Compensation	56M	67M	18M	29M	59M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	411M	273M	475M	600M	749M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	4M	4M	13M	8M	13M
Total Cash And Short Term Investments	415M	277M	488M	608M	762M
Accounts Receivable, Total	1.36B	1.46B	1.51B	1.45B	1.68B
Other Receivables	220M	204M	199M	189M	203M
Total Receivables	1.58B	1.67B	1.71B	1.64B	1.88B
Inventory	1.2B	1.38B	1.42B	1.28B	1.42B
Prepaid Expenses	50M	65M	64M	66M	79M
Other Current Assets, Total	54M	16M	21M	25M	62M
Total Current Assets	3.3B	3.41B	3.71B	3.62B	4.21B
Gross Property Plant And Equipment	4.13B	4.34B	4.51B	4.5B	4.83B
Accumulated Depreciation	-1.91B	-2.05B	-2.21B	-2.26B	-2.45B
Net Property Plant And Equipment	2.22B	2.29B	2.29B	2.24B	2.38B
Long-term Investments	215M	334M	339M	319M	153M
Goodwill	3.29B	3.5B	3.42B	3.2B	3.52B
Other Intangibles, Total	1.25B	1.36B	1.22B	1.26B	1.31B
Deferred Tax Assets Long-Term	218M	182M	112M	118M	145M
Other Long-Term Assets, Total	161M	354M	412M	375M	379M
Total Assets	10.66B	11.42B	11.51B	11.13B	12.1B
Liabilities
Accounts Payable, Total	809M	1.01B	861M	891M	1.12B
Accrued Expenses, Total	217M	240M	169M	170M	253M
Short-term Borrowings	1M	1M	-	-	1M
Current Portion of Long-Term Debt	160M	379M	307M	397M	765M
Current Portion of Leases	45M	48M	49M	45M	53M
Current Income Taxes Payable	157M	188M	123M	136M	183M
Other Current Liabilities	407M	454M	462M	422M	460M
Total Current Liabilities	1.8B	2.32B	1.97B	2.06B	2.83B
Long-Term Debt	3.88B	3.88B	4.3B	4.1B	3.56B
Long-Term Leases	369M	356M	352M	362M	370M
Pension & Other Post Retirement Benefits	545M	371M	177M	165M	201M
Deferred Tax Liability Non Current	310M	280M	270M	232M	287M
Other Non Current Liabilities	254M	271M	205M	209M	268M
Total Liabilities	7.15B	7.48B	7.27B	7.13B	7.52B
Common Stock, Total	92M	92M	92M	92M	92M
Retained Earnings	6.13B	6.36B	6.61B	6.73B	6.97B
Treasury Stock	-168M	-211M	-228M	-199M	-34M
Comprehensive Income and Other	-2.57B	-2.32B	-2.25B	-2.63B	-2.45B
Total Common Equity	3.49B	3.93B	4.23B	3.99B	4.58B
Minority Interest	18M	12M	5M	5M	-
Total Equity	3.51B	3.94B	4.24B	4B	4.58B
Total Liabilities And Equity	10.66B	11.42B	11.51B	11.13B	12.1B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.22M	9.22M	9.23M	9.23M	9.23M
ECS Total Common Shares Outstanding	9.22M	9.22M	9.23M	9.23M	9.23M
Book Value / Share	378.65	426.1	458.66	432.74	496.19
Tangible Book Value	-1.05B	-924M	-414M	-466M	-250M
Tangible Book Value Per Share	-114.25	-100.21	-44.87	-50.5	-27.1
Total Debt	4.45B	4.67B	5B	4.9B	4.75B
Net Debt	4.04B	4.39B	4.52B	4.3B	3.99B
Debt Equivalent of Unfunded Proj. Benefit Obligation	464M	243M	46M	69M	121M
Debt Equivalent Oper. Leases	136M	144M	152M	56M	48M
Minority Interest, Total (Incl. Fin. Div)	18M	12M	5M	5M	-
Equity Method Investments, Total	35M	37M	53M	48M	61M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	460M	542M	597M	490M	571M
Inventories - Work In Process, Total	815M	919M	911M	870M	942M
Land - (BS)	129M	131M	128M	120M	122M
Buildings, Total	1.51B	1.56B	1.57B	1.53B	1.64B
Machinery, Total	1.88B	1.97B	2.07B	2.08B	2.22B
Full Time Employees	15.85K	16.84K	16.68K	16.26K	16.94K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	19M	20M	24M	23M	16M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	743M	821M	856M	893M	1.09B
Depreciation & Amortization - CF	201M	204M	209M	202M	205M
Amortization of Goodwill and Intangible Assets - (CF)	150M	148M	112M	100M	102M
Depreciation & Amortization, Total	351M	352M	321M	302M	307M
Amortization of Deferred Charges, Total - (CF)	39M	41M	45M	56M	55M
(Gain) Loss on Sale of Investments - (CF)	-41M	59M	184M	84M	-107M
Asset Writedown & Restructuring Costs	19M	7M	-5M	25M	11M
Stock-Based Compensation (CF)	56M	67M	4M	29M	59M
Other Operating Activities, Total	100M	37M	-190M	-64M	253M
Change In Accounts Receivable	-76M	-93M	-112M	-112M	-191M
Change In Inventories	-68M	-165M	-82M	43M	-126M
Change In Accounts Payable	27M	167M	-95M	105M	187M
Change in Other Net Operating Assets	-17M	-5M	22M	12M	87M
Cash from Operations	1.13B	1.29B	948M	1.37B	1.62B
Capital Expenditure	-188M	-186M	-226M	-215M	-236M
Sale of Property, Plant, and Equipment	8M	9M	15M	4M	13M
Cash Acquisitions	-629M	-401M	-	-183M	-229M
Divestitures	-	-	-	-	5M
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-37M	-70M	-78M	-60M	-57M
Investment in Marketable and Equity Securities, Total	-3M	-92M	-6M	-13M	79M
Other Investing Activities, Total	30M	-167M	-133M	0	-23M
Cash from Investing	-819M	-907M	-428M	-467M	-448M
Short Term Debt Issued, Total	3.04B	1.51B	2.82B	2.86B	1.2B
Long-Term Debt Issued, Total	1.4B	316M	708M	738M	234M
Total Debt Issued	4.45B	1.83B	3.52B	3.6B	1.44B
Short Term Debt Repaid, Total	-3.3B	-1.51B	-3.04B	-3.11B	-1.63B
Long-Term Debt Repaid, Total	-836M	-71M	-59M	-439M	-61M
Total Debt Repaid	-4.14B	-1.58B	-3.09B	-3.55B	-1.69B
Repurchase of Common Stock	-	-69M	-51M	-29M	-35M
Common Dividends Paid	-571M	-589M	-607M	-617M	-627M
Common & Preferred Stock Dividends Paid	-571M	-589M	-607M	-617M	-627M
Other Financing Activities, Total	-88M	-109M	-81M	-99M	-107M
Cash from Financing	-346M	-518M	-308M	-699M	-1.03B
Foreign Exchange Rate Adjustments	-9M	-1M	-11M	-82M	-2M
Net Change in Cash	-41M	-138M	201M	125M	149M
Supplemental Items
Cash Interest Paid	53M	72M	72M	97M	92M
Cash Income Tax Paid (Refund)	125M	153M	182M	121M	152M
Levered Free Cash Flow	811M	890M	339M	1.02B	884M
Unlevered Free Cash Flow	860M	943M	396M	1.09B	952M
Change In Net Working Capital	3M	-55M	368M	-262M	47M
Net Debt Issued / Repaid	313M	249M	431M	46M	-257M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.12	6.22	5.98	6.32	7.53
Return on Total Capital	8.18	8.29	7.69	7.88	9.59
Return On Equity %	20.73	22.04	20.93	21.69	25.42
Return on Common Equity	20.84	22.13	20.98	21.71	25.43
Margin Analysis
Gross Profit Margin %	42.06	42.71	38.81	41.16	44.13
SG&A Margin	16.96	17.43	15.62	15.98	16.49
EBITDA Margin %	21.05	20.95	19.19	20.16	22.29
EBITA Margin %	18.68	18.66	17	17.99	20.25
EBIT Margin %	16.31	16.44	15.43	16.54	18.87
Income From Continuing Operations Margin %	11.75	12.28	12.03	12.91	14.71
Net Income Margin %	11.75	12.28	12.03	12.91	14.71
Net Avail. For Common Margin %	11.75	12.28	12.03	12.91	14.71
Normalized Net Income Margin	9.1	9.18	8.17	9.29	11.23
Levered Free Cash Flow Margin	12.83	13.32	4.76	14.72	11.93
Unlevered Free Cash Flow Margin	13.61	14.11	5.57	15.72	12.85
Asset Turnover
Asset Turnover	0.6	0.61	0.62	0.61	0.64
Fixed Assets Turnover	2.78	2.96	3.1	3.05	3.21
Receivables Turnover (Average Receivables)	4.64	4.74	4.78	4.67	4.73
Inventory Turnover (Average Inventory)	3.12	2.97	3.11	3.02	3.07
Short Term Liquidity
Current Ratio	1.84	1.47	1.88	1.75	1.49
Quick Ratio	1.11	0.84	1.12	1.09	0.93
Operating Cash Flow to Current Liabilities	0.63	0.56	0.48	0.67	0.57
Days Sales Outstanding (Average Receivables)	78.85	77.08	76.31	78.23	77.33
Days Outstanding Inventory (Average Inventory)	117.4	123.02	117.46	121.01	119.32
Average Days Payable Outstanding	80.88	82.73	77.56	81.55	85.68
Cash Conversion Cycle (Average Days)	115.37	117.36	116.22	117.69	110.97
Long Term Solvency
Total Debt/Equity	126.88	118.42	118.13	122.69	103.78
Total Debt / Total Capital	55.92	54.22	54.15	55.09	50.93
LT Debt/Equity	121.01	107.56	109.72	111.63	85.89
Long-Term Debt / Total Capital	53.34	49.24	50.3	50.13	42.15
Total Liabilities / Total Assets	67.09	65.49	63.19	64.07	62.16
EBIT / Interest Expense	12.57	12.35	11.56	10.04	12.27
EBITDA / Interest Expense	16.85	16.3	14.94	12.68	14.96
(EBITDA - Capex) / Interest Expense	14.56	14.21	12.56	10.8	12.89
Total Debt / EBITDA	3.22	3.22	3.53	3.39	2.78
Net Debt / EBITDA	2.92	3.03	3.18	2.97	2.34
Total Debt / (EBITDA - Capex)	3.73	3.69	4.2	3.98	3.23
Net Debt / (EBITDA - Capex)	3.38	3.47	3.79	3.49	2.71
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.92	5.73	6.48	-2.84	7.19
Gross Profit, 1 Yr. Growth %	5.1	7.37	-3.26	3.04	14.93
EBITDA, 1 Yr. Growth %	10.82	5.18	-2.43	2.05	21.11
EBITA, 1 Yr. Growth %	12.05	5.59	-2.97	2.81	23.64
EBIT, 1 Yr. Growth %	10.74	6.6	-0.09	4.19	25.58
Earnings From Cont. Operations, 1 Yr. Growth %	5.84	10.5	4.26	4.32	22.06
Net Income, 1 Yr. Growth %	5.84	10.5	4.26	4.32	22.06
Normalized Net Income, 1 Yr. Growth %	10.58	6.74	-5.3	10.54	33.47
Diluted EPS Before Extra, 1 Yr. Growth %	5.78	10.52	4.68	4.28	21.93
Accounts Receivable, 1 Yr. Growth %	-0.44	7.73	3.28	-3.97	15.7
Inventory, 1 Yr. Growth %	4.53	14.9	3.12	-10.4	11.76
Net Property, Plant and Equip., 1 Yr. Growth %	-4.47	3.11	-0.35	-2.22	6.29
Total Assets, 1 Yr. Growth %	2.52	7.15	0.66	-3.31	8.73
Tangible Book Value, 1 Yr. Growth %	63	-12.25	-55.39	12.56	-46.35
Common Equity, 1 Yr. Growth %	-4.12	12.58	7.71	-5.65	14.65
Cash From Operations, 1 Yr. Growth %	-0.26	8.33	-26.4	44.83	18.35
Capital Expenditures, 1 Yr. Growth %	-31.64	-1.06	21.51	-4.87	9.77
Levered Free Cash Flow, 1 Yr. Growth %	20.86	9.75	-62.06	247.5	-11.5
Unlevered Free Cash Flow, 1 Yr. Growth %	20.52	9.59	-58.11	210.35	-10.85
Dividend Per Share, 1 Yr. Growth %	3.23	3.12	1.52	1.49	2.94
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.95	3.8	6.1	1.71	2.05
Gross Profit, 2 Yr. CAGR %	6.85	6.23	1.92	-0.16	8.82
EBITDA, 2 Yr. CAGR %	11.53	7.97	1.31	-0.21	9.97
EBITA, 2 Yr. CAGR %	11.91	8.77	1.22	-0.12	11.38
EBIT, 2 Yr. CAGR %	9.75	8.65	3.2	2.03	12.88
Earnings From Cont. Operations, 2 Yr. CAGR %	5.86	8.14	7.34	4.29	12.84
Net Income, 2 Yr. CAGR %	5.86	8.14	7.34	4.29	12.84
Normalized Net Income, 2 Yr. CAGR %	10.02	8.64	0.54	2.32	19.68
Diluted EPS Before Extra, 2 Yr. CAGR %	5.85	8.12	7.56	4.48	12.76
Accounts Receivable, 2 Yr. CAGR %	4.14	3.56	5.48	-0.41	5.41
Inventory, 2 Yr. CAGR %	4.59	9.59	8.85	-3.88	0.07
Net Property, Plant and Equip., 2 Yr. CAGR %	12.39	-0.76	1.59	-1.29	1.94
Total Assets, 2 Yr. CAGR %	7.18	4.81	3.92	-1.35	2.53
Tangible Book Value, 2 Yr. CAGR %	87.98	19.6	-37.3	-29.14	-22.29
Common Equity, 2 Yr. CAGR %	-3.01	3.89	10.12	0.81	4.01
Cash From Operations, 2 Yr. CAGR %	11.22	6.48	-10.71	3.25	30.92
Capital Expenditures, 2 Yr. CAGR %	-11.31	-17.76	9.64	7.51	2.19
Levered Free Cash Flow, 2 Yr. CAGR %	77.01	15.17	-35.36	6.74	73.75
Unlevered Free Cash Flow, 2 Yr. CAGR %	74.05	14.93	-32.14	7.2	64.9
Dividend Per Share, 2 Yr. CAGR %	3.28	3.18	2.32	1.5	2.21
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	7.77	6.54	4.69	3.03	3.51
Gross Profit, 3 Yr. CAGR %	5.73	7.02	2.97	2.29	4.64
EBITDA, 3 Yr. CAGR %	9.24	9.37	4.38	1.55	5.67
EBITA, 3 Yr. CAGR %	9.2	9.76	4.71	1.75	6.37
EBIT, 3 Yr. CAGR %	6.94	8.69	5.65	3.53	8.38
Earnings From Cont. Operations, 3 Yr. CAGR %	1.05	7.38	6.83	6.32	9.91
Net Income, 3 Yr. CAGR %	1.05	7.38	6.83	6.32	9.91
Normalized Net Income, 3 Yr. CAGR %	5.61	8.92	3.78	3.77	10.7
Diluted EPS Before Extra, 3 Yr. CAGR %	1.03	7.39	6.96	6.46	10
Accounts Receivable, 3 Yr. CAGR %	5.82	5.32	3.47	2.23	4.69
Inventory, 3 Yr. CAGR %	10.01	7.92	7.39	2.01	1.08
Net Property, Plant and Equip., 3 Yr. CAGR %	12.06	9.21	-0.48	0.3	1.17
Total Assets, 3 Yr. CAGR %	13.4	7.17	3.45	1.45	1.9
Tangible Book Value, 3 Yr. CAGR %	-0.09	45.82	-13.78	-23.79	-35.42
Common Equity, 3 Yr. CAGR %	-0.45	1.93	5.15	4.59	5.23
Cash From Operations, 3 Yr. CAGR %	9.58	12.03	-5.85	4.91	8.06
Capital Expenditures, 3 Yr. CAGR %	-0.53	-8.02	-6.33	4.57	8.26
Levered Free Cash Flow, 3 Yr. CAGR %	19.18	50.94	-20.37	7.86	-0.34
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.08	49.18	-17.82	8.11	0.23
Dividend Per Share, 3 Yr. CAGR %	3.34	3.23	2.62	2.04	1.98
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.54	7.47	7.1	4.58	3.63
Gross Profit, 5 Yr. CAGR %	5.55	6.05	4.19	4.09	5.27
EBITDA, 5 Yr. CAGR %	7.53	7.39	5.99	5.43	6.58
EBITA, 5 Yr. CAGR %	7.73	7.54	5.93	5.7	7.33
EBIT, 5 Yr. CAGR %	6.32	6.24	5.43	5.97	8.49
Earnings From Cont. Operations, 5 Yr. CAGR %	3.52	4.98	3.52	6.14	9.2
Net Income, 5 Yr. CAGR %	3.52	4.98	3.52	6.14	9.2
Normalized Net Income, 5 Yr. CAGR %	6.39	6.02	3.55	6.23	9.87
Diluted EPS Before Extra, 5 Yr. CAGR %	3.58	4.97	3.59	6.22	9.25
Accounts Receivable, 5 Yr. CAGR %	8.57	8.01	5.68	2.99	4.24
Inventory, 5 Yr. CAGR %	10.9	11.86	9.55	3.03	4.4
Net Property, Plant and Equip., 5 Yr. CAGR %	9.93	9.7	7.75	4.97	0.49
Total Assets, 5 Yr. CAGR %	11.15	11.88	9.51	3.71	3.08
Tangible Book Value, 5 Yr. CAGR %	-2.87	-1.21	-17.08	9.35	-17.29
Common Equity, 5 Yr. CAGR %	0.44	3.59	3.65	1.48	4.69
Cash From Operations, 5 Yr. CAGR %	4.37	9.86	1.94	8.43	7.42
Capital Expenditures, 5 Yr. CAGR %	8.33	6.46	3.42	-2.09	-3.01
Levered Free Cash Flow, 5 Yr. CAGR %	5.61	11.14	-6.69	31.5	5.67
Unlevered Free Cash Flow, 5 Yr. CAGR %	5.89	11.32	-4.42	30.79	5.93
Dividend Per Share, 5 Yr. CAGR %	3.46	3.34	2.93	2.53	2.46