Financials LVMH

Equities

Market Closed - Euronext Paris Other stock markets 16:55:00 12/12/2025 GMT			5-day change	1st Jan Change
624.50 ^EUR	-0.11%		-0.57%	-1.73%

12-12	LVMH : UBS keeps its Buy rating	ZD
12-11	LVMH : Barclays is Neutral	ZD

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	44,651	64,215	79,184	86,153	84,683	80,451	82,901	88,071
Change	-	43.82%	23.31%	8.8%	-1.71%	-5%	3.05%	6.24%
EBITDA ¹	14,355	22,981	27,281	29,979	27,367	24,524	25,541	28,079
Change	-	60.09%	18.71%	9.89%	-8.71%	-10.39%	4.15%	9.94%
EBIT ¹	8,305	17,151	21,055	22,802	19,571	17,021	18,013	20,004
Change	-	106.51%	22.76%	8.3%	-14.17%	-13.03%	5.83%	11.05%
Interest Paid ¹	-608	53	-888	-935	-792	-852.8	-818.5	-761.9
Earnings before Tax (EBT) ¹	7,364	17,208	20,113	21,625	18,115	16,013	17,143	19,071
Change	-	133.68%	16.88%	7.52%	-16.23%	-11.6%	7.05%	11.25%
Net income ¹	4,702	12,036	14,084	15,174	12,550	10,721	12,044	13,571
Change	-	155.98%	17.02%	7.74%	-17.29%	-14.57%	12.33%	12.68%
Announcement Date	26/01/21	27/01/22	26/01/23	25/01/24	28/01/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	11,955	14,303	13,959	14,706	15,512	20,038	18,003	18,726	19,755	22,699	21,035	21,205	19,964	23,948	20,694	20,983	19,076	23,930	20,311	19,499	18,280	22,406
Change	-	19.64%	-2.41%	5.35%	5.48%	29.18%	-10.16%	4.02%	5.5%	14.9%	-7.33%	0.81%	-5.85%	19.96%	-13.59%	1.4%	-9.09%	25.45%	-15.12%	-4%	-6.25%	22.57%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	4,742	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	15/10/20	26/01/21	26/04/21	26/07/21	12/10/21	27/01/22	12/04/22	26/07/22	11/10/22	26/01/23	12/04/23	25/07/23	10/10/23	25/01/24	16/04/24	23/07/24	15/10/24	28/01/25	14/04/25	24/07/25	14/10/25	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	28,665	35,550	36,729	42,455	42,240	43,913	41,677	43,006	39,810	40,850
Change	-	24.02%	3.32%	15.59%	-0.51%	3.96%	-5.09%	3.19%	-7.43%	2.61%
EBITDA ¹	10,376	12,605	13,241	14,040	14,653	15,326	13,893	13,474	12,473	12,491
Change	-	21.48%	5.05%	6.03%	4.37%	4.59%	-9.35%	-3.02%	-7.43%	0.14%
EBIT ¹	7,632	9,519	10,235	10,820	11,574	11,228	10,653	8,918	9,012	8,208
Change	-	24.72%	7.52%	5.72%	6.97%	-2.99%	-5.12%	-16.29%	1.05%	-8.93%
Charge d'intérêts ¹	-12	65	-798	-90	467	-1,370	-255	-537	-435	-435
Earnings before Tax (EBT) ¹	7,586	9,622	9,329	10,784	12,031	9,594	10,369	7,746	8,563	7,639
Change	-	26.84%	-3.05%	15.6%	11.56%	-20.26%	8.08%	-25.3%	10.55%	-10.79%
Net income ¹	5,289	6,747	6,532	7,552	8,481	6,693	7,267	5,283	5,698	4,962
Change	-	27.57%	-3.19%	15.62%	12.3%	-21.08%	8.58%	-27.3%	7.86%	-12.92%
Announcement Date	26/07/21	27/01/22	26/07/22	26/01/23	25/07/23	25/01/24	23/07/24	28/01/25	24/07/25	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	4,241	9,607	27,847	30,671	31,143	27,194	24,531	14,404
Change	-	126.53%	189.86%	10.14%	1.54%	-12.68%	-9.79%	-41.28%
Announcement Date	26/01/21	27/01/22	26/01/23	25/01/24	28/01/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,478	2,664	4,969	7,478	5,531	5,182	5,318	5,450
Change	-	7.51%	86.52%	50.49%	-26.04%	-6.31%	2.62%	2.5%
Free Cash Flow (FCF) ¹	6,117	13,531	10,113	8,104	10,478	11,055	11,658	12,634
Change	-	121.2%	-25.26%	-19.87%	29.29%	5.51%	5.45%	8.37%
Announcement Date	26/01/21	27/01/22	26/01/23	25/01/24	28/01/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	32.15%	35.79%	34.45%	34.8%	32.32%	30.48%	30.81%	31.88%
EBIT Margin (%)	18.6%	26.71%	26.59%	26.47%	23.11%	21.16%	21.73%	22.71%
EBT Margin (%)	16.49%	26.8%	25.4%	25.1%	21.39%	19.9%	20.68%	21.65%
Net margin (%)	10.53%	18.74%	17.79%	17.61%	14.82%	13.33%	14.53%	15.41%
FCF margin (%)	13.7%	21.07%	12.77%	9.41%	12.37%	13.74%	14.06%	14.35%
FCF / Net Income (%)	130.09%	112.42%	71.8%	53.41%	83.49%	103.12%	96.8%	93.1%
Profitability
ROA	4.58%	10.29%	10.84%	10.9%	12.37%	7.19%	7.74%	8.88%
ROE	12.18%	28.48%	27.55%	26.13%	27.88%	15.19%	16.12%	16.75%
Financial Health
Leverage (Debt/EBITDA)	0.3x	0.42x	1.02x	1.02x	1.14x	1.11x	0.96x	0.51x
Debt / Free cash flow	0.69x	0.71x	2.75x	3.78x	2.97x	2.46x	2.1x	1.14x
Capital Intensity
CAPEX / Current Assets (%)	5.55%	4.15%	6.28%	8.68%	6.53%	6.44%	6.41%	6.19%
CAPEX / EBITDA (%)	17.26%	11.59%	18.21%	24.94%	20.21%	21.13%	20.82%	19.41%
CAPEX / FCF (%)	40.51%	19.69%	49.13%	92.28%	52.79%	46.87%	45.61%	43.14%
Items per share
Cash flow per share ¹	21.61	37.01	35.49	36.78	37.87	37.36	39.23	41.65
Change	-	71.24%	-4.1%	3.63%	2.98%	-1.35%	5.01%	6.16%
Dividend per Share ¹	6	7	12	13	13	11.98	12.97	14.2
Change	-	16.67%	71.43%	8.33%	0%	-7.86%	8.29%	9.48%
Book Value Per Share ¹	76.93	93.56	109.8	122.2	135.1	142.9	154.9	168.9
Change	-	21.62%	17.31%	11.29%	10.62%	5.73%	8.44%	9%
EPS ¹	9.32	23.89	28.03	30.33	25.12	21.49	24.07	27.15
Change	-	156.33%	17.33%	8.21%	-17.18%	-14.47%	12.02%	12.81%
Nbr of stocks (in thousands)	503,359	503,785	501,103	499,410	499,744	497,025	497,025	497,025
Announcement Date	26/01/21	27/01/22	26/01/23	25/01/24	28/01/25	-	-	-