Cash flow Givaudan SA

Stocks

GIVN

CH0010645932

Specialty Chemicals

Market Closed - Swiss Exchange Other stock markets 16:30:33 17/06/2026 BST			5-day change	1st Jan Change
3,176.00 ^CHF	-0.31%		+0.63%	+0.95%

06-12	GIVAUDAN AG : UBS is Neutral	ZD
06-12	GIVAUDAN AG : Deutsche Bank gives a Buy rating	ZD

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Published financial data: GIVAUDAN SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	6.68B	7.12B	6.92B	7.41B	7.47B
Total Revenues	6.68B	7.12B	6.92B	7.41B	7.47B
Cost of Goods Sold, Total	3.83B	4.36B	4.07B	4.14B	4.22B
Gross Profit	2.86B	2.76B	2.85B	3.27B	3.25B
Selling General & Admin Expenses, Total	1.16B	1.11B	1.1B	1.22B	1.24B
R&D Expenses	562M	522M	519M	565M	551M
Other Operating Expenses	29M	30M	78M	85M	99M
Other Operating Expenses, Total	1.76B	1.66B	1.7B	1.87B	1.89B
Operating Income	1.1B	1.1B	1.14B	1.4B	1.37B
Interest Expense, Total	-89M	-95M	-114M	-114M	-104M
Interest And Investment Income	8M	11M	8M	26M	19M
Net Interest Expenses	-81M	-84M	-106M	-88M	-85M
Income (Loss) On Equity Invest.	2M	11M	5M	8M	6M
Currency Exchange Gains (Loss)	43M	96M	96M	-58M	37M
Other Non Operating Income (Expenses)	-81M	-191M	-111M	71M	-22M
EBT, Excl. Unusual Items	982M	930M	1.03B	1.33B	1.3B
Restructuring Charges	-3M	-	-30M	-	-
Merger & Related Restructuring Charges	-12M	-5M	-3M	-4M	-3M
Gain (Loss) On Sale Of Assets	-2M	3M	-5M	-3M	6M
Asset Writedown	-	-	-1M	-12M	-
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	965M	928M	989M	1.31B	1.3B
Income Tax Expense	144M	72M	96M	223M	234M
Earnings From Continuing Operations	821M	856M	893M	1.09B	1.07B
Net Income to Company	821M	856M	893M	1.09B	1.07B
Net Income - (IS)	821M	856M	893M	1.09B	1.07B
Net Income to Common Incl Extra Items	821M	856M	893M	1.09B	1.07B
Net Income to Common Excl. Extra Items	821M	856M	893M	1.09B	1.07B
Per Share Items
Net EPS - Basic	89.03	92.83	96.81	118.17	116.08
Basic EPS - Continuing Operations	89.03	92.83	96.81	118.17	116.08
Basic Weighted Average Shares Outstanding	9.22M	9.22M	9.22M	9.22M	9.23M
Net EPS - Diluted	88.37	92.51	96.47	117.63	115.46
Diluted EPS - Continuing Operations	88.37	92.51	96.47	117.63	115.46
Diluted Weighted Average Shares Outstanding	9.29M	9.25M	9.26M	9.27M	9.28M
Normalized Basic EPS	66.56	63.03	69.65	90.25	88.2
Normalized Diluted EPS	66.06	62.82	69.41	89.84	87.73
Dividend Per Share	66	67	68	70	72
Payout Ratio	71.74	70.91	69.09	57.52	60.22
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	1.4B	1.37B	1.39B	1.65B	1.62B
EBITA	1.25B	1.21B	1.24B	1.5B	1.47B
EBIT	1.1B	1.1B	1.14B	1.4B	1.37B
EBITDAR	1.42B	1.38B	1.4B	1.66B	1.63B
Effective Tax Rate - (Ratio)	14.92	7.76	9.71	16.98	17.93
Total Current Taxes	187M	57M	158M	219M	181M
Total Deferred Taxes	-43M	15M	-62M	4M	53M
Normalized Net Income	614M	581M	642M	832M	814M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	3M	3M	3M	2M	10M
Supplemental Operating Expense Items
Selling and Marketing Expenses	921M	907M	897M	967M	993M
General and Administrative Expenses	239M	200M	202M	249M	237M
Research And Development Expense From Footnotes	562M	522M	519M	565M	551M
Net Rental Expense, Total	18M	19M	7M	6M	6M
Imputed Operating Lease Interest Expense	2.81M	2.98M	1.29M	1.13M	1.09M
Imputed Operating Lease Depreciation	15.19M	16.02M	5.71M	4.87M	4.91M
Stock-Based Comp., Other (Total)	67M	18M	29M	59M	52M
Total Stock-Based Compensation	67M	18M	29M	59M	52M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	273M	475M	600M	749M	738M
Trading Asset Securities, Total	4M	13M	8M	13M	4M
Total Cash And Short Term Investments	277M	488M	608M	762M	742M
Accounts Receivable, Total	1.46B	1.51B	1.45B	1.68B	1.62B
Other Receivables	204M	199M	189M	203M	215M
Total Receivables	1.67B	1.71B	1.64B	1.88B	1.83B
Inventory	1.38B	1.42B	1.28B	1.42B	1.42B
Prepaid Expenses	65M	64M	66M	79M	66M
Other Current Assets, Total	16M	21M	25M	62M	7M
Total Current Assets	3.41B	3.71B	3.62B	4.21B	4.07B
Gross Property Plant And Equipment	4.34B	4.51B	4.5B	4.83B	4.82B
Accumulated Depreciation	-2.05B	-2.21B	-2.26B	-2.45B	-2.47B
Net Property Plant And Equipment	2.29B	2.29B	2.24B	2.38B	2.35B
Long-term Investments	334M	339M	319M	153M	143M
Goodwill	3.5B	3.42B	3.2B	3.52B	3.45B
Other Intangibles, Total	1.36B	1.22B	1.26B	1.31B	1.28B
Deferred Tax Assets Long-Term	182M	112M	118M	145M	99M
Other Long-Term Assets, Total	354M	412M	375M	379M	479M
Total Assets	11.42B	11.51B	11.13B	12.1B	11.86B
Liabilities
Accounts Payable, Total	1.01B	861M	891M	1.12B	1.2B
Accrued Expenses, Total	240M	169M	170M	253M	203M
Short-term Borrowings	1M	-	-	1M	-
Current Portion of Long-Term Debt	379M	307M	397M	765M	169M
Current Portion of Leases	48M	49M	45M	53M	62M
Current Income Taxes Payable	188M	123M	136M	183M	192M
Other Current Liabilities	454M	462M	422M	460M	523M
Total Current Liabilities	2.32B	1.97B	2.06B	2.83B	2.35B
Long-Term Debt	3.88B	4.3B	4.1B	3.56B	3.84B
Long-Term Leases	356M	352M	362M	370M	344M
Pension & Other Post Retirement Benefits	371M	177M	165M	201M	151M
Deferred Tax Liability Non Current	280M	270M	232M	287M	328M
Other Non Current Liabilities	271M	205M	209M	268M	286M
Total Liabilities	7.48B	7.27B	7.13B	7.52B	7.3B
Common Stock, Total	92M	92M	92M	92M	92M
Retained Earnings	6.36B	6.61B	6.73B	6.97B	7.41B
Treasury Stock	-211M	-228M	-199M	-34M	-37M
Comprehensive Income and Other	-2.32B	-2.25B	-2.63B	-2.45B	-2.93B
Total Common Equity	3.93B	4.23B	3.99B	4.58B	4.54B
Minority Interest	12M	5M	5M	-	31M
Total Equity	3.94B	4.24B	4B	4.58B	4.57B
Total Liabilities And Equity	11.42B	11.51B	11.13B	12.1B	11.86B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.22M	9.23M	9.23M	9.23M	9.23M
ECS Total Common Shares Outstanding	9.22M	9.23M	9.23M	9.23M	9.23M
Book Value / Share	426.1	458.66	432.74	496.19	491.59
Tangible Book Value	-924M	-414M	-466M	-250M	-185M
Tangible Book Value Per Share	-100.21	-44.87	-50.5	-27.1	-20.05
Total Debt	4.67B	5B	4.9B	4.75B	4.42B
Net Debt	4.39B	4.52B	4.3B	3.99B	3.67B
Debt Equivalent of Unfunded Proj. Benefit Obligation	243M	46M	69M	121M	31M
Debt Equivalent Oper. Leases	144M	152M	56M	48M	48M
Minority Interest, Total (Incl. Fin. Div)	12M	5M	5M	-	31M
Equity Method Investments, Total	37M	53M	48M	61M	58M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	542M	597M	490M	571M	581M
Inventories - Work In Process, Total	919M	911M	870M	942M	924M
Land - (BS)	131M	128M	120M	122M	116M
Buildings, Total	1.56B	1.57B	1.53B	1.64B	1.59B
Machinery, Total	1.97B	2.07B	2.08B	2.22B	2.22B
Full Time Employees	16.84K	16.68K	16.26K	16.94K	17.58K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	20M	24M	23M	16M	21M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	821M	856M	893M	1.09B	1.07B
Depreciation & Amortization - CF	204M	209M	202M	205M	211M
Amortization of Goodwill and Intangible Assets - (CF)	148M	112M	100M	102M	103M
Depreciation & Amortization, Total	352M	321M	302M	307M	314M
Amortization of Deferred Charges, Total - (CF)	41M	45M	56M	55M	57M
(Gain) Loss on Sale of Investments - (CF)	59M	184M	84M	-107M	-12M
Asset Writedown & Restructuring Costs	7M	-5M	25M	11M	2M
Stock-Based Compensation (CF)	67M	4M	29M	59M	52M
Other Operating Activities, Total	37M	-190M	-64M	253M	-15M
Change In Accounts Receivable	-93M	-112M	-112M	-191M	-39M
Change In Inventories	-165M	-82M	43M	-126M	-83M
Change In Accounts Payable	167M	-95M	105M	187M	117M
Change in Other Net Operating Assets	-5M	22M	12M	87M	48M
Cash from Operations	1.29B	948M	1.37B	1.62B	1.51B
Capital Expenditure	-186M	-226M	-215M	-236M	-249M
Sale of Property, Plant, and Equipment	9M	15M	4M	13M	16M
Cash Acquisitions	-401M	-	-183M	-229M	-217M
Divestitures	-	-	-	5M	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-70M	-78M	-60M	-57M	-52M
Investment in Marketable and Equity Securities, Total	-92M	-6M	-13M	79M	14M
Other Investing Activities, Total	-167M	-133M	0	-23M	108M
Cash from Investing	-907M	-428M	-467M	-448M	-380M
Short Term Debt Issued, Total	1.51B	2.82B	2.86B	1.2B	2.06B
Long-Term Debt Issued, Total	316M	708M	738M	234M	465M
Total Debt Issued	1.83B	3.52B	3.6B	1.44B	2.53B
Short Term Debt Repaid, Total	-1.51B	-3.04B	-3.11B	-1.63B	-2.82B
Long-Term Debt Repaid, Total	-71M	-59M	-439M	-61M	-63M
Total Debt Repaid	-1.58B	-3.09B	-3.55B	-1.69B	-2.88B
Repurchase of Common Stock	-69M	-51M	-29M	-35M	-27M
Common Dividends Paid	-589M	-607M	-617M	-627M	-645M
Common & Preferred Stock Dividends Paid	-589M	-607M	-617M	-627M	-645M
Other Financing Activities, Total	-109M	-81M	-99M	-107M	-83M
Cash from Financing	-518M	-308M	-699M	-1.03B	-1.11B
Foreign Exchange Rate Adjustments	-1M	-11M	-82M	-2M	-34M
Net Change in Cash	-138M	201M	125M	149M	-11M
Supplemental Items
Cash Interest Paid	72M	72M	97M	92M	84M
Cash Income Tax Paid (Refund)	153M	182M	121M	152M	232M
Levered Free Cash Flow	890M	339M	1.02B	884M	1.13B
Unlevered Free Cash Flow	943M	396M	1.09B	952M	1.19B
Change In Net Working Capital	-55M	368M	-262M	47M	-220M
Net Debt Issued / Repaid	249M	431M	46M	-257M	-354M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.22	5.98	6.32	7.53	7.13
Return on Total Capital	8.29	7.69	7.88	9.59	9.32
Return On Equity %	22.04	20.93	21.69	25.42	23.42
Return on Common Equity	22.13	20.98	21.71	25.43	23.5
Margin Analysis
Gross Profit Margin %	42.71	38.81	41.16	44.13	43.52
SG&A Margin	17.43	15.62	15.98	16.49	16.54
EBITDA Margin %	20.95	19.19	20.16	22.29	21.69
EBITA Margin %	18.66	17	17.99	20.25	19.66
EBIT Margin %	16.44	15.43	16.54	18.87	18.28
Income From Continuing Operations Margin %	12.28	12.03	12.91	14.71	14.33
Net Income Margin %	12.28	12.03	12.91	14.71	14.33
Net Avail. For Common Margin %	12.28	12.03	12.91	14.71	14.33
Normalized Net Income Margin	9.18	8.17	9.29	11.23	10.89
Levered Free Cash Flow Margin	13.32	4.76	14.72	11.93	15.13
Unlevered Free Cash Flow Margin	14.11	5.57	15.72	12.85	15.98
Asset Turnover
Asset Turnover	0.61	0.62	0.61	0.64	0.62
Fixed Assets Turnover	2.96	3.1	3.05	3.21	3.16
Receivables Turnover (Average Receivables)	4.74	4.78	4.67	4.73	4.53
Inventory Turnover (Average Inventory)	2.97	3.11	3.02	3.07	2.96
Short Term Liquidity
Current Ratio	1.47	1.88	1.75	1.49	1.74
Quick Ratio	0.84	1.12	1.09	0.93	1.1
Operating Cash Flow to Current Liabilities	0.56	0.48	0.67	0.57	0.64
Days Sales Outstanding (Average Receivables)	77.08	76.31	78.23	77.33	80.53
Days Outstanding Inventory (Average Inventory)	123.02	117.46	121.01	119.32	123.25
Average Days Payable Outstanding	82.73	77.56	81.55	85.68	100.12
Cash Conversion Cycle (Average Days)	117.36	116.22	117.69	110.97	103.66
Long Term Solvency
Total Debt/Equity	118.42	118.13	122.69	103.78	96.67
Total Debt / Total Capital	54.22	54.15	55.09	50.93	49.15
LT Debt/Equity	107.56	109.72	111.63	85.89	91.62
Long-Term Debt / Total Capital	49.24	50.3	50.13	42.15	46.58
Total Liabilities / Total Assets	65.49	63.19	64.07	62.16	61.5
EBIT / Interest Expense	12.35	11.56	10.04	12.27	13.13
EBITDA / Interest Expense	16.3	14.94	12.68	14.96	16.15
(EBITDA - Capex) / Interest Expense	14.21	12.56	10.8	12.89	13.76
Total Debt / EBITDA	3.22	3.53	3.39	2.78	2.63
Net Debt / EBITDA	3.03	3.18	2.97	2.34	2.19
Total Debt / (EBITDA - Capex)	3.69	4.2	3.98	3.23	3.09
Net Debt / (EBITDA - Capex)	3.47	3.79	3.49	2.71	2.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.73	6.48	-2.84	7.19	0.81
Gross Profit, 1 Yr. Growth %	7.37	-3.26	3.04	14.93	-0.58
EBITDA, 1 Yr. Growth %	5.18	-2.43	2.05	21.11	-1.88
EBITA, 1 Yr. Growth %	5.59	-2.97	2.81	23.64	-2.13
EBIT, 1 Yr. Growth %	6.6	-0.09	4.19	25.58	-2.36
Earnings From Cont. Operations, 1 Yr. Growth %	10.5	4.26	4.32	22.06	-1.74
Net Income, 1 Yr. Growth %	10.5	4.26	4.32	22.06	-1.74
Normalized Net Income, 1 Yr. Growth %	6.74	-5.3	10.54	33.47	-2.25
Diluted EPS Before Extra, 1 Yr. Growth %	10.52	4.68	4.28	21.93	-1.84
Accounts Receivable, 1 Yr. Growth %	7.73	3.28	-3.97	15.7	-3.75
Inventory, 1 Yr. Growth %	14.9	3.12	-10.4	11.76	0
Net Property, Plant and Equip., 1 Yr. Growth %	3.11	-0.35	-2.22	6.29	-1.43
Total Assets, 1 Yr. Growth %	7.15	0.66	-3.31	8.73	-1.94
Tangible Book Value, 1 Yr. Growth %	-12.25	-55.39	12.56	-46.35	-26
Common Equity, 1 Yr. Growth %	12.58	7.71	-5.65	14.65	-0.9
Cash From Operations, 1 Yr. Growth %	8.33	-26.4	44.83	18.35	-6.95
Capital Expenditures, 1 Yr. Growth %	-1.06	21.51	-4.87	9.77	5.51
Levered Free Cash Flow, 1 Yr. Growth %	9.75	-62.06	247.5	-11.5	27.89
Unlevered Free Cash Flow, 1 Yr. Growth %	9.59	-58.11	210.35	-10.85	25.34
Dividend Per Share, 1 Yr. Growth %	3.12	1.52	1.49	2.94	2.86
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.8	6.1	1.71	2.05	3.95
Gross Profit, 2 Yr. CAGR %	6.23	1.92	-0.16	8.82	6.9
EBITDA, 2 Yr. CAGR %	7.97	1.31	-0.21	9.97	9.01
EBITA, 2 Yr. CAGR %	8.77	1.22	-0.12	11.38	10
EBIT, 2 Yr. CAGR %	8.65	3.2	2.03	12.88	10.73
Earnings From Cont. Operations, 2 Yr. CAGR %	8.14	7.34	4.29	12.84	9.51
Net Income, 2 Yr. CAGR %	8.14	7.34	4.29	12.84	9.51
Normalized Net Income, 2 Yr. CAGR %	8.64	0.54	2.32	19.68	14.22
Diluted EPS Before Extra, 2 Yr. CAGR %	8.12	7.56	4.48	12.76	9.4
Accounts Receivable, 2 Yr. CAGR %	3.56	5.48	-0.41	5.41	5.53
Inventory, 2 Yr. CAGR %	9.59	8.85	-3.88	0.07	5.72
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.76	1.59	-1.29	1.94	2.36
Total Assets, 2 Yr. CAGR %	4.81	3.92	-1.35	2.53	3.25
Tangible Book Value, 2 Yr. CAGR %	19.6	-37.3	-29.14	-22.29	-36.99
Common Equity, 2 Yr. CAGR %	3.89	10.12	0.81	4.01	6.59
Cash From Operations, 2 Yr. CAGR %	6.48	-10.71	3.25	30.92	4.94
Capital Expenditures, 2 Yr. CAGR %	-17.76	9.64	7.51	2.19	7.62
Levered Free Cash Flow, 2 Yr. CAGR %	15.17	-35.36	6.74	73.75	6.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	14.93	-32.14	7.2	64.9	5.71
Dividend Per Share, 2 Yr. CAGR %	3.18	2.32	1.5	2.21	2.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.54	4.69	3.03	3.51	1.64
Gross Profit, 3 Yr. CAGR %	7.02	2.97	2.29	4.64	5.59
EBITDA, 3 Yr. CAGR %	9.37	4.38	1.55	5.67	5.87
EBITA, 3 Yr. CAGR %	9.76	4.71	1.75	6.37	6.68
EBIT, 3 Yr. CAGR %	8.69	5.65	3.53	8.38	7.55
Earnings From Cont. Operations, 3 Yr. CAGR %	7.38	6.83	6.32	9.91	7.76
Net Income, 3 Yr. CAGR %	7.38	6.83	6.32	9.91	7.76
Normalized Net Income, 3 Yr. CAGR %	8.92	3.78	3.77	10.7	11.87
Diluted EPS Before Extra, 3 Yr. CAGR %	7.39	6.96	6.46	10	7.67
Accounts Receivable, 3 Yr. CAGR %	5.32	3.47	2.23	4.69	2.26
Inventory, 3 Yr. CAGR %	7.92	7.39	2.01	1.08	0.05
Net Property, Plant and Equip., 3 Yr. CAGR %	9.21	-0.48	0.3	1.17	0.81
Total Assets, 3 Yr. CAGR %	7.17	3.45	1.45	1.9	1.02
Tangible Book Value, 3 Yr. CAGR %	45.82	-13.78	-23.79	-35.42	-23.55
Common Equity, 3 Yr. CAGR %	1.93	5.15	4.59	5.23	2.35
Cash From Operations, 3 Yr. CAGR %	12.03	-5.85	4.91	8.06	16.84
Capital Expenditures, 3 Yr. CAGR %	-8.02	-6.33	4.57	8.26	3.28
Levered Free Cash Flow, 3 Yr. CAGR %	50.94	-20.37	7.86	-0.34	56.88
Unlevered Free Cash Flow, 3 Yr. CAGR %	49.18	-17.82	8.11	0.23	50.49
Dividend Per Share, 3 Yr. CAGR %	3.23	2.62	2.04	1.98	2.43
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.47	7.1	4.58	3.63	3.4
Gross Profit, 5 Yr. CAGR %	6.05	4.19	4.09	5.27	4.11
EBITDA, 5 Yr. CAGR %	7.39	5.99	5.43	6.58	4.02
EBITA, 5 Yr. CAGR %	7.54	5.93	5.7	7.33	4.46
EBIT, 5 Yr. CAGR %	6.24	5.43	5.97	8.49	5.79
Earnings From Cont. Operations, 5 Yr. CAGR %	4.98	3.52	6.14	9.2	7.59
Net Income, 5 Yr. CAGR %	4.98	3.52	6.14	9.2	7.59
Normalized Net Income, 5 Yr. CAGR %	6.02	3.55	6.23	9.87	7.19
Diluted EPS Before Extra, 5 Yr. CAGR %	4.97	3.59	6.22	9.25	7.62
Accounts Receivable, 5 Yr. CAGR %	8.01	5.68	2.99	4.24	3.54
Inventory, 5 Yr. CAGR %	11.86	9.55	3.03	4.4	3.48
Net Property, Plant and Equip., 5 Yr. CAGR %	9.7	7.75	4.97	0.49	1.12
Total Assets, 5 Yr. CAGR %	11.88	9.51	3.71	3.08	2.17
Tangible Book Value, 5 Yr. CAGR %	-1.21	-17.08	9.35	-17.29	-29.38
Common Equity, 5 Yr. CAGR %	3.59	3.65	1.48	4.69	5.39
Cash From Operations, 5 Yr. CAGR %	9.86	1.94	8.43	7.42	4.92
Capital Expenditures, 5 Yr. CAGR %	6.46	3.42	-2.09	-3.01	5.78
Levered Free Cash Flow, 5 Yr. CAGR %	11.14	-6.69	31.5	5.67	6.87
Unlevered Free Cash Flow, 5 Yr. CAGR %	11.32	-4.42	30.79	5.93	6.77
Dividend Per Share, 5 Yr. CAGR %	3.34	2.93	2.53	2.46	2.38