Cash flow LVMH

Equities

MC

FR0000121014

Apparel & Accessories

Market Closed - Euronext Paris Other stock markets 16:39:13 14/01/2025 GMT			5-day change	1st Jan Change
651.00 ^EUR	+0.71%		+2.58%	+2.44%

01-14	LVMH says 'impossible' to control final sales point after report of champagne shipments to Russia	RE
01-13	Indices: The year 2024 in numbers!

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Published financial data: LVMH

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	53.67B	44.65B	64.22B	79.18B	86.15B
Total Revenues	53.67B	44.65B	64.22B	79.18B	86.15B
Cost of Goods Sold, Total	18.12B	15.87B	20.36B	24.99B	26.88B
Gross Profit	35.55B	28.78B	43.86B	54.2B	59.28B
Selling General & Admin Expenses, Total	24.07B	20.43B	26.72B	33.18B	36.48B
Other Operating Expenses	-1M	57M	-	-	-
Other Operating Expenses, Total	24.07B	20.49B	26.72B	33.18B	36.48B
Operating Income	11.48B	8.29B	17.14B	21.02B	22.8B
Interest Expense, Total	-446M	-366M	-242M	-382M	-973M
Interest And Investment Income	58M	58M	50M	121M	217M
Net Interest Expenses	-388M	-308M	-192M	-261M	-756M
Income (Loss) On Equity Invest.	28M	-42M	13M	37M	7M
Currency Exchange Gains (Loss)	-230M	-262M	-206M	-358M	-399M
Other Non Operating Income (Expenses)	-23M	-34M	-48M	-44M	-43M
EBT, Excl. Unusual Items	10.86B	7.64B	16.7B	20.39B	21.6B
Restructuring Charges	-57M	-6M	-	3M	-9M
Merger & Related Restructuring Charges	-45M	-35M	-18M	-25M	-14M
Impairment of Goodwill	-22M	-178M	-78M	-27M	-
Gain (Loss) On Sale Of Investments	82M	-4M	618M	7M	265M
Gain (Loss) On Sale Of Assets	-	-22M	9M	-210M	-102M
Asset Writedown	-4M	-	-11M	-23M	-105M
Other Unusual Items	-104M	-35M	-17M	-4M	-14M
EBT, Incl. Unusual Items	10.71B	7.36B	17.21B	20.11B	21.62B
Income Tax Expense	2.93B	2.41B	4.51B	5.36B	5.67B
Earnings From Continuing Operations	7.78B	4.96B	12.7B	14.75B	15.95B
Net Income to Company	7.78B	4.96B	12.7B	14.75B	15.95B
Minority Interest	-611M	-253M	-662M	-667M	-778M
Net Income - (IS)	7.17B	4.7B	12.04B	14.08B	15.17B
Net Income to Common Incl Extra Items	7.17B	4.7B	12.04B	14.08B	15.17B
Net Income to Common Excl. Extra Items	7.17B	4.7B	12.04B	14.08B	15.17B
Per Share Items
Net EPS - Basic	14.25	9.34	23.9	28.05	30.34
Basic EPS - Continuing Operations	14.25	9.34	23.9	28.05	30.34
Basic Weighted Average Shares Outstanding	503M	504M	504M	502M	500M
Net EPS - Diluted	14.23	9.32	23.89	28.03	30.33
Diluted EPS - Continuing Operations	14.23	9.32	23.89	28.03	30.33
Diluted Weighted Average Shares Outstanding	504M	504M	504M	502M	500M
Normalized Basic EPS	12.28	8.98	19.42	24.05	25.45
Normalized Diluted EPS	12.26	8.97	19.41	24.04	25.43
Dividend Per Share	4.8	6	10	12	13
Payout Ratio	43.49	49.28	29.3	42.77	41.2
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	13.29B	10.15B	19.9B	23.91B	25.27B
EBITA	11.63B	8.45B	17.3B	21.17B	23.06B
EBIT	11.48B	8.29B	17.14B	21.02B	22.8B
EBITDAR	15.26B	11.23B	22.11B	26.81B	28.61B
Effective Tax Rate - (Ratio)	27.37	32.71	26.21	26.66	26.23
Total Current Taxes	3.22B	2.62B	5.34B	5.9B	6.05B
Total Deferred Taxes	-290M	-212M	-826M	-534M	-378M
Normalized Net Income	6.18B	4.52B	9.78B	12.08B	12.72B
Interest on Long-Term Debt	290M	281M	242M	254M	393M
Non-Cash Pension Expense	55M	-40M	15M	21M	28M
Supplemental Operating Expense Items
Advertising Expense	6.26B	4.87B	7.29B	9.58B	10.22B
Selling and Marketing Expenses	20.21B	16.79B	22.31B	28.15B	30.77B
General and Administrative Expenses	3.86B	3.64B	4.41B	5.03B	5.71B
Research And Development Expense From Footnotes	140M	139M	147M	172M	-
Net Rental Expense, Total	1.97B	1.08B	2.21B	2.9B	3.34B
Imputed Operating Lease Interest Expense	387M	100M	119M	254M	696M
Imputed Operating Lease Depreciation	1.58B	975M	2.09B	2.65B	2.64B
Stock-Based Comp., Other (Total)	72M	63M	132M	132M	117M
Total Stock-Based Compensation	72M	63M	132M	132M	117M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	5.67B	19.96B	8.02B	7.3B	7.77B
Short Term Investments	733M	752M	2.54B	3.55B	3.49B
Trading Asset Securities, Total	12M	33M	31M	34M	23M
Total Cash And Short Term Investments	6.42B	20.75B	10.6B	10.89B	11.29B
Accounts Receivable, Total	3.45B	2.76B	3.79B	4.26B	4.73B
Other Receivables	2.05B	1.92B	2.32B	2.85B	3.22B
Total Receivables	5.5B	4.68B	6.11B	7.11B	7.94B
Inventory	13.72B	13.02B	16.55B	20.32B	22.95B
Prepaid Expenses	454M	387M	503M	613M	681M
Other Current Assets, Total	422M	1.14B	542M	814M	846M
Total Current Assets	26.51B	39.97B	34.3B	39.74B	43.71B
Gross Property Plant And Equipment	46.03B	48.37B	56.68B	63.95B	71.45B
Accumulated Depreciation	-15.08B	-17.63B	-22.78B	-26.28B	-28.44B
Net Property Plant And Equipment	30.94B	30.74B	33.9B	37.67B	43.01B
Long-term Investments	2.01B	1.79B	2.45B	2.18B	2.36B
Goodwill	16.03B	16.04B	25.9B	24.78B	24.02B
Other Intangibles, Total	17.21B	17.01B	24.55B	25.43B	25.59B
Loans Receivable Long-Term	291M	280M	413M	444M	243M
Deferred Tax Assets Long-Term	2.27B	2.32B	3.16B	3.66B	3.99B
Other Long-Term Assets, Total	1.24B	508M	637M	742M	772M
Total Assets	96.51B	109B	125B	135B	144B
Liabilities
Accounts Payable, Total	5.81B	5.1B	7.09B	8.79B	9.05B
Accrued Expenses, Total	2.67B	2.48B	3.59B	3.99B	4.4B
Short-term Borrowings	5.49B	9.2B	4.63B	7.65B	7.7B
Current Portion of Long-Term Debt	2.13B	1.45B	3.45B	1.73B	3B
Current Portion of Leases	2.17B	2.16B	2.39B	2.63B	3.16B
Current Income Taxes Payable	722M	721M	1.27B	1.21B	1.15B
Unearned Revenue Current, Total	832M	1.08B	1.48B	1.68B	1.46B
Other Current Liabilities	2.79B	3.13B	4.11B	3.86B	3.23B
Total Current Liabilities	22.62B	25.32B	27.99B	31.54B	33.14B
Long-Term Debt	5.1B	14.08B	12.19B	10.54B	11.33B
Long-Term Leases	10.37B	10.66B	11.89B	12.78B	13.81B
Pension & Other Post Retirement Benefits	812M	784M	915M	622M	609M
Deferred Tax Liability Non Current	5.5B	5.48B	6.7B	6.95B	7.01B
Other Non Current Liabilities	13.73B	13.52B	16.72B	15.61B	15.09B
Total Liabilities	58.14B	69.84B	76.4B	78.04B	80.99B
Common Stock, Total	152M	152M	152M	151M	151M
Additional Paid In Capital	2.32B	2.22B	2.22B	1.29B	530M
Retained Earnings	7.17B	4.7B	12.04B	14.08B	15.17B
Treasury Stock	-403M	-260M	-912M	-1.29B	-1.95B
Comprehensive Income and Other	27.35B	30.59B	33.62B	40.88B	47.12B
Total Common Equity	36.59B	37.41B	47.12B	55.11B	61.02B
Minority Interest	1.78B	1.42B	1.79B	1.49B	1.68B
Total Equity	38.36B	38.83B	48.91B	56.6B	62.7B
Total Liabilities And Equity	96.51B	109B	125B	135B	144B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	504M	504M	504M	501M	500M
ECS Total Common Shares Outstanding	504M	504M	504M	501M	500M
Book Value / Share	72.64	74.25	93.58	109.99	122.15
Tangible Book Value	3.34B	4.36B	-3.34B	4.9B	11.41B
Tangible Book Value Per Share	6.63	8.65	-6.63	9.77	22.83
Total Debt	25.27B	37.55B	34.54B	35.32B	39B
Net Debt	18.86B	16.8B	23.95B	24.44B	27.71B
Debt Equivalent of Unfunded Proj. Benefit Obligation	722M	702M	696M	462M	454M
Debt Equivalent Oper. Leases	15.77B	8.6B	17.66B	23.22B	26.69B
Minority Interest, Total (Incl. Fin. Div)	1.78B	1.42B	1.79B	1.49B	1.68B
Equity Method Investments, Total	1.07B	990M	1.08B	1.07B	991M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	2.38B	2.28B	3.6B	4.98B	5.45B
Inventories - Work In Process, Total	5.03B	5.34B	5.46B	5.96B	6.63B
Inventories - Finished Goods, Total	8.13B	7.54B	10.02B	12.11B	14.04B
Land - (BS)	7.08B	7.17B	7.56B	8.39B	19.38B
Buildings, Total	5.35B	5.74B	6.7B	7.67B	-
Full Time Employees	163K	148K	158K	173K	192K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	89M	124M	127M	111M	115M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	7.17B	4.7B	12.04B	14.08B	15.17B
Depreciation & Amortization - CF	4.06B	4.28B	5.3B	5.74B	5.26B
Amortization of Goodwill and Intangible Assets - (CF)	155M	156M	157M	156M	266M
Depreciation & Amortization, Total	4.22B	4.43B	5.46B	5.9B	5.52B
Amortization of Deferred Charges, Total - (CF)	267M	329M	372M	329M	454M
Asset Writedown & Restructuring Costs	-	-	-	-	-15M
(Income) Loss On Equity Investments - (CF)	-10M	64M	41M	26M	42M
Other Operating Activities, Total	1.16B	1.74B	315M	516M	1.8B
Change In Accounts Receivable	-121M	528M	-613M	-394M	-695M
Change In Inventories	-1.6B	-562M	-1.57B	-4.17B	-4.23B
Change In Accounts Payable	463M	-559M	1.58B	1.53B	434M
Change in Unearned Revenues	9M	-10M	27M	6M	24M
Change in Other Net Operating Assets	99M	236M	1B	6M	-110M
Cash from Operations	11.65B	10.9B	18.65B	17.83B	18.4B
Capital Expenditure	-3.29B	-1.98B	-2.68B	-4.4B	-6.81B
Sale of Property, Plant, and Equipment	29M	51M	444M	73M	136M
Cash Acquisitions	-2.48B	-536M	-13.23B	-809M	-721M
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-481M	-580M	-685M	-1B
Investment in Marketable and Equity Securities, Total	-104M	63M	-99M	-149M	-116M
Other Investing Activities, Total	-29M	-53M	157M	47M	198M
Cash from Investing	-5.87B	-2.94B	-15.98B	-5.92B	-8.31B
Long-Term Debt Issued, Total	2.84B	17.5B	251M	3.77B	5.99B
Total Debt Issued	2.84B	17.5B	251M	3.77B	5.99B
Long-Term Debt Repaid, Total	-4B	-7.33B	-8.87B	-6.64B	-6.79B
Total Debt Repaid	-4B	-7.33B	-8.87B	-6.64B	-6.79B
Issuance of Common Stock	21M	-	-	-	-
Repurchase of Common Stock	-49M	-12M	-556M	-1.62B	-1.58B
Common Dividends Paid	-3.12B	-2.32B	-3.53B	-6.02B	-6.25B
Common & Preferred Stock Dividends Paid	-3.12B	-2.32B	-3.53B	-6.02B	-6.25B
Other Financing Activities, Total	-427M	-441M	-2.46B	-2.18B	-766M
Cash from Financing	-4.73B	7.4B	-15.16B	-12.68B	-9.4B
Foreign Exchange Rate Adjustments	39M	-1.05B	498M	55M	-273M
Net Change in Cash	1.08B	14.31B	-11.99B	-717M	420M
Supplemental Items
Cash Interest Paid	363M	348M	231M	240M	356M
Cash Income Tax Paid (Refund)	3.07B	2.5B	4.46B	5.93B	6.11B
Levered Free Cash Flow	7.37B	7.86B	13.8B	11.04B	8.43B
Unlevered Free Cash Flow	7.65B	8.09B	13.96B	11.27B	9.04B
Change In Net Working Capital	796M	-545M	-537M	3.14B	3.49B
Net Debt Issued / Repaid	-1.16B	10.17B	-8.62B	-2.87B	-796M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.4	5.05	9.16	10.11	10.24
Return on Total Capital	13.2	7.4	13.4	14.98	14.69
Return On Equity %	21.52	12.84	28.95	27.96	26.74
Return on Common Equity	20.82	12.71	28.48	27.55	26.13
Margin Analysis
Gross Profit Margin %	66.23	64.46	68.3	68.44	68.8
SG&A Margin	44.85	45.76	41.61	41.9	42.35
EBITDA Margin %	24.76	22.74	31	30.19	29.33
EBITA Margin %	21.67	18.92	26.93	26.74	26.77
EBIT Margin %	21.38	18.57	26.69	26.54	26.46
Income From Continuing Operations Margin %	14.5	11.1	19.77	18.63	18.52
Net Income Margin %	13.36	10.53	18.74	17.79	17.61
Net Avail. For Common Margin %	13.36	10.53	18.74	17.79	17.61
Normalized Net Income Margin	11.51	10.13	15.23	15.25	14.77
Levered Free Cash Flow Margin	13.73	17.6	21.5	13.94	9.78
Unlevered Free Cash Flow Margin	14.25	18.11	21.73	14.24	10.49
Asset Turnover
Asset Turnover	0.63	0.44	0.55	0.61	0.62
Fixed Assets Turnover	2.33	1.45	1.99	2.21	2.14
Receivables Turnover (Average Receivables)	16.09	14.39	19.63	19.69	19.17
Inventory Turnover (Average Inventory)	1.38	1.19	1.38	1.36	1.24
Short Term Liquidity
Current Ratio	1.17	1.58	1.23	1.26	1.32
Quick Ratio	0.53	1	0.6	0.57	0.58
Operating Cash Flow to Current Liabilities	0.51	0.43	0.67	0.57	0.56
Days Sales Outstanding (Average Receivables)	22.69	25.43	18.6	18.54	19.04
Days Outstanding Inventory (Average Inventory)	263.86	308.24	265.08	269.27	293.83
Average Days Payable Outstanding	104.93	131.63	93.08	100.74	110.31
Cash Conversion Cycle (Average Days)	181.62	202.04	190.59	187.07	202.55
Long Term Solvency
Total Debt/Equity	65.88	96.71	70.63	62.41	62.19
Total Debt / Total Capital	39.71	49.16	41.39	38.43	38.35
LT Debt/Equity	40.34	63.72	49.23	41.19	40.09
Long-Term Debt / Total Capital	24.32	32.39	28.85	25.36	24.72
Total Liabilities / Total Assets