Cash flow Porsche Automobil Holding SE

Equities

PAH3

DE000PAH0038

Auto & Truck Manufacturers

Market Closed - Xetra Other stock markets 16:35:21 13/09/2024 BST			5-day change	1st Jan Change
39.79 ^EUR	+2.53%		+1.45%	-14.10%

09-10	BMW plummets after lowered outlook - Conti under strong pressure	DP
09-10	Ex-Porsche boss Wiedeking calls for tough cuts at VW - "VW needs a drastic overhaul"	RE

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Published financial data: PORSCHE AUTOMOBIL HOLDING SE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	117M	107M	-	-	-
Total Revenues	117M	107M	-	-	-
Cost of Goods Sold, Total	17M	13M	-	-	-
Gross Profit	100M	94M	-	-	-
Selling General & Admin Expenses, Total	82M	81M	16M	18M	18M
Depreciation & Amortization - (IS)	21M	22M	1M	1M	1M
Other Operating Expenses	10M	39M	25M	-155M	-203M
Other Operating Expenses, Total	113M	142M	42M	-136M	-184M
Operating Income	-13M	-48M	-42M	136M	184M
Interest Expense, Total	-4M	-4M	-6M	-64M	-288M
Interest And Investment Income	-	-	-	-	24M
Net Interest Expenses	-4M	-4M	-6M	-64M	-264M
Income (Loss) On Equity Invest.	4.41B	2.64B	4.63B	4.53B	5.23B
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	20M	-2M	0	7M	-5M
EBT, Excl. Unusual Items	4.41B	2.59B	4.58B	4.61B	5.14B
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	8M	59M	-17M	1M	0
Gain (Loss) On Sale Of Assets	-	-	-	22M	-
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	4.42B	2.65B	4.57B	4.64B	5.14B
Income Tax Expense	9M	23M	3M	-56M	48M
Earnings From Continuing Operations	4.41B	2.62B	4.56B	4.69B	5.1B
Earnings Of Discontinued Operations	-	-	3M	96M	-
Net Income to Company	4.41B	2.62B	4.57B	4.79B	5.1B
Net Income - (IS)	4.41B	2.62B	4.57B	4.79B	5.1B
Net Income to Common Incl Extra Items	4.41B	2.62B	4.57B	4.79B	5.1B
Net Income to Common Excl. Extra Items	4.41B	2.62B	4.56B	4.69B	5.1B
Per Share Items
Net EPS - Basic	14.39	8.56	14.91	15.63	16.64
Basic EPS - Continuing Operations	14.39	8.56	14.9	15.32	16.64
Basic Weighted Average Shares Outstanding	306M	306M	306M	306M	306M
Net EPS - Diluted	14.39	8.56	14.91	15.63	16.64
Diluted EPS - Continuing Operations	14.39	8.56	14.9	15.32	16.64
Diluted Weighted Average Shares Outstanding	306M	306M	306M	306M	306M
Normalized Basic EPS	9	5.28	9.35	9.41	10.5
Normalized Diluted EPS	9	5.28	9.35	9.41	10.5
Dividend Per Share	2.21	2.21	2.56	2.56	2.56
Payout Ratio	15.34	25.77	14.8	16.36	15.36
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	-1M	-37M	-41M	137M	185M
EBITA	-3M	-38M	-42M	136M	184M
EBIT	-13M	-48M	-42M	136M	184M
EBITDAR	1M	-36M	-40M	138M	186M
Effective Tax Rate - (Ratio)	0.2	0.87	0.07	-1.21	0.93
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	-29M	2M	4M	11M	-3M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	38M	21M	-1M	-67M	51M
Normalized Net Income	2.76B	1.62B	2.86B	2.88B	3.22B
Non-Cash Pension Expense	1M	0	0	0	1M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	8M	8M	4M	-	-
Net Rental Expense, Total	2M	1M	1M	1M	1M
Imputed Operating Lease Interest Expense	2.42M	831K	-	-	333K
Imputed Operating Lease Depreciation	-415K	169K	-	-	667K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	353M	259M	271M	86M	494M
Short Term Investments	93M	292M	370M	335M	513M
Trading Asset Securities, Total	147M	48M	-	-	10M
Total Cash And Short Term Investments	593M	599M	641M	421M	1.02B
Accounts Receivable, Total	28M	22M	-	-	-
Other Receivables	50M	2M	-	316M	3M
Total Receivables	78M	24M	-	316M	3M
Inventory	4M	5M	-	-	-
Other Current Assets, Total	9M	9M	319M	339M	10M
Total Current Assets	684M	637M	960M	1.08B	1.03B
Gross Property Plant And Equipment	51M	53M	3M	-	-
Accumulated Depreciation	-14M	-19M	-2M	-	-
Net Property Plant And Equipment	37M	34M	1M	1M	1M
Long-term Investments	34.6B	35.26B	41.57B	57.71B	61.33B
Goodwill	147M	146M	-	-	-
Other Intangibles, Total	94M	81M	-	-	-
Deferred Tax Assets Long-Term	2M	3M	-	-	-
Deferred Charges Long-Term	-	-	1M	-	-
Other Long-Term Assets, Total	31M	90M	-1M	2M	1M
Total Assets	35.59B	36.25B	42.53B	58.79B	62.36B
Liabilities
Accounts Payable, Total	4M	5M	2M	4M	1M
Accrued Expenses, Total	7M	8M	6M	6M	6M
Current Portion of Long-Term Debt	1M	10M	-	3.94B	108M
Current Portion of Leases	4M	4M	-	1M	1M
Current Income Taxes Payable	1M	1M	-	10M	3M
Unearned Revenue Current, Total	24M	25M	-	-	-
Other Current Liabilities	61M	52M	141M	30M	18M
Total Current Liabilities	102M	105M	149M	3.99B	137M
Long-Term Debt	11M	1M	-	3.15B	6.62B
Long-Term Leases	24M	22M	-	-	-
Pension & Other Post Retirement Benefits	45M	51M	42M	27M	32M
Deferred Tax Liability Non Current	100M	100M	116M	172M	178M
Other Non Current Liabilities	26M	25M	29M	27M	69M
Total Liabilities	308M	304M	336M	7.37B	7.03B
Common Stock, Total	306M	306M	306M	306M	306M
Additional Paid In Capital	4.88B	4.88B	4.88B	4.88B	4.88B
Retained Earnings	34.49B	36.33B	40.22B	45.75B	50.8B
Comprehensive Income and Other	-4.4B	-5.58B	-3.21B	480M	-668M
Total Common Equity	35.28B	35.94B	42.2B	51.42B	55.33B
Minority Interest	1M	1M	1M	-	-
Total Equity	35.28B	35.95B	42.2B	51.42B	55.33B
Total Liabilities And Equity	35.59B	36.25B	42.53B	58.79B	62.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	306M	306M	306M	306M	306M
ECS Total Common Shares Outstanding	306M	306M	306M	306M	306M
Book Value / Share	115.21	117.37	137.78	167.89	180.66
Tangible Book Value	35.04B	35.72B	42.2B	51.42B	55.33B
Tangible Book Value Per Share	114.42	116.63	137.78	167.89	180.66
Total Debt	40M	37M	0	7.09B	6.72B
Net Debt	-553M	-562M	-641M	6.67B	5.71B
Debt Equivalent of Unfunded Proj. Benefit Obligation	46M	52M	42M	28M	33M
Debt Equivalent Oper. Leases	16M	8M	8M	8M	8M
Minority Interest, Total (Incl. Fin. Div)	1M	1M	1M	-	-
Equity Method Investments, Total	34.6B	35.26B	41.53B	57.51B	61.22B
Account Code - Inventory Valuation	6	6	6	6	6
Full Time Employees	951	916	882	38	42

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	4.41B	2.62B	4.57B	4.79B	5.1B
Depreciation & Amortization - CF	6M	6M	1M	1M	1M
Amortization of Goodwill and Intangible Assets - (CF)	10M	10M	-	-	-
Depreciation & Amortization, Total	16M	16M	1M	1M	1M
Amortization of Deferred Charges, Total - (CF)	5M	6M	-	-	-
(Gain) Loss From Sale Of Asset	-3M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-4.62B	-4.56B	-5.23B
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-4.41B	-2.64B	-	-	-
Net Cash From Discontinued Operations	-	-	-5M	25M	-
Other Operating Activities, Total	688M	763M	759M	559M	2.02B
Change In Accounts Receivable	-	-	-	-	-
Change In Accounts Payable	-	-	-	-	-
Change In Deferred Taxes	-	-	-	-	-
Change in Other Net Operating Assets	14M	6M	2M	-1M	-17M
Cash from Operations	722M	773M	708M	816M	1.87B
Capital Expenditure	-6M	-2M	-	-	-
Cash Acquisitions	-2M	-	-	-	-
Divestitures	3M	-	-	201M	-
Sale (Purchase) of Intangible assets	1M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-315M	-184M	-3M	-7.49B	-243M
Other Investing Activities, Total	1M	-	-1M	-1M	-
Cash from Investing	-318M	-186M	-4M	-7.29B	-243M
Long-Term Debt Issued, Total	-	-	-	7.07B	4.71B
Total Debt Issued	-	-	-	7.07B	4.71B
Long-Term Debt Repaid, Total	-5M	-4M	-1M	-1M	-5.15B
Total Debt Repaid	-5M	-4M	-1M	-1M	-5.15B
Common Dividends Paid	-676M	-676M	-676M	-783M	-783M
Common & Preferred Stock Dividends Paid	-676M	-676M	-676M	-783M	-783M
Other Financing Activities, Total	-	-	-14M	-	1M
Cash from Financing	-681M	-680M	-691M	6.29B	-1.22B
Miscellaneous Cash Flow Adjustments	-	-	-1M	0	1M
Net Change in Cash	-277M	-93M	12M	-185M	409M
Supplemental Items
Cash Interest Paid	3M	3M	1M	52M	248M
Cash Income Tax Paid (Refund)	3M	-30M	-29M	-	-311M
Levered Free Cash Flow	-80.62M	34.5M	-252M	-389M	242M
Unlevered Free Cash Flow	-78.12M	37M	-248M	-349M	422M
Change In Net Working Capital	86M	-47M	223M	435M	-306M
Net Debt Issued / Repaid	-5M	-4M	-1M	7.07B	-440M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-0.02	-0.08	-0.07	0.17	0.19
Return on Total Capital	-0.02	-0.08	-0.07	0.17	0.19
Return On Equity %	12.83	7.36	11.68	10.02	9.48
Return on Common Equity	12.83	7.36	11.68	10.02	9.48
Margin Analysis
Gross Profit Margin %	85.47	87.85	-	-	-
SG&A Margin	70.09	75.7	-	-	-
EBITDA Margin %	-0.85	-34.58	-	-	-
EBITA Margin %	-2.56	-35.51	-	-	-
EBIT Margin %	-11.11	-44.86	-	-	-
Income From Continuing Operations Margin %	3.77K	2.45K	-	-	-
Net Income Margin %	3.77K	2.45K	-	-	-
Net Avail. For Common Margin %	3.77K	2.45K	-	-	-
Normalized Net Income Margin	2.36K	1.51K	-	-	-
Levered Free Cash Flow Margin	-68.91	32.24	-	-	-
Unlevered Free Cash Flow Margin	-66.77	34.58	-	-	-
Asset Turnover
Asset Turnover	0	0	-	-	-
Fixed Assets Turnover	5.32	3.01	-	-	-
Receivables Turnover (Average Receivables)	4.33	4.28	-	-	-
Inventory Turnover (Average Inventory)	4.86	2.89	-	-	-
Short Term Liquidity
Current Ratio	6.71	6.07	6.44	0.27	7.52
Quick Ratio	6.58	5.93	4.3	0.18	7.45
Operating Cash Flow to Current Liabilities	7.08	7.36	4.75	0.2	13.67
Days Sales Outstanding (Average Receivables)	84.23	85.51	-	-	-
Days Outstanding Inventory (Average Inventory)	75.15	126.69	-	-	-
Average Days Payable Outstanding	70.97	117.64	-	-	-
Cash Conversion Cycle (Average Days)	88.41	94.56	-	-	-
Long Term Solvency
Total Debt/Equity	0.11	0.1	-	13.8	12.16
Total Debt / Total Capital	0.11	0.1	-	12.12	10.84
LT Debt/Equity	0.1	0.06	-	6.13	11.96
Long-Term Debt / Total Capital	0.1	0.06	-	5.39	10.66
Total Liabilities / Total Assets	0.87	0.84	0.79	12.54	11.28
EBIT / Interest Expense	-3.25	-12	-7	2.12	0.64
EBITDA / Interest Expense	0.75	-8	-6.83	2.14	0.64
(EBITDA - Capex) / Interest Expense	-0.75	-8.5	-6.83	2.14	0.64
Total Debt / EBITDA