Cash flow Publicis Groupe S.A.

Equities

PUB

FR0000130577

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Published financial data: PUBLICIS GROUPE S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	10.79B	11.74B	14.2B	14.8B	16.03B
Total Revenues	10.79B	11.74B	14.2B	14.8B	16.03B
Cost of Goods Sold, Total	6.07B	6.59B	8.13B	8.4B	9.09B
Gross Profit	4.71B	5.15B	6.07B	6.4B	6.94B
Selling General & Admin Expenses, Total	-	-	-	-	-
Depreciation & Amortization - (IS)	600M	477M	535M	482M	495M
Amortization of Goodwill and Intangible Assets - (IS)	275M	256M	287M	268M	234M
Other Operating Expenses	2.37B	2.78B	3.18B	3.44B	3.79B
Other Operating Expenses, Total	3.25B	3.52B	4.01B	4.19B	4.52B
Operating Income	1.46B	1.64B	2.06B	2.21B	2.42B
Interest Expense, Total	-262M	-185M	-205M	-199M	-206M
Interest And Investment Income	66M	30M	85M	198M	174M
Net Interest Expenses	-196M	-155M	-120M	-1M	-32M
Income (Loss) On Equity Invest.	-1M	-	5M	6M	-2M
Currency Exchange Gains (Loss)	-2M	2M	-15M	-7M	1M
Other Non Operating Income (Expenses)	7M	-7M	18M	-13M	-8M
EBT, Excl. Unusual Items	1.27B	1.48B	1.95B	2.19B	2.38B
Restructuring Charges	-401M	-175M	-163M	-258M	-207M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-15M	-	-28M	-6M	-4M
Gain (Loss) On Sale Of Investments	-	42M	-	-	10M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-64M	-	-	-	-11M
Other Unusual Items	-26M	-1M	-105M	-190M	50M
EBT, Incl. Unusual Items	767M	1.34B	1.65B	1.74B	2.22B
Income Tax Expense	196M	307M	431M	415M	549M
Earnings From Continuing Operations	571M	1.04B	1.22B	1.32B	1.67B
Net Income to Company	571M	1.04B	1.22B	1.32B	1.67B
Minority Interest	5M	-9M	-	-10M	-9M
Net Income - (IS)	576M	1.03B	1.22B	1.31B	1.66B
Net Income to Common Incl Extra Items	576M	1.03B	1.22B	1.31B	1.66B
Net Income to Common Excl. Extra Items	576M	1.03B	1.22B	1.31B	1.66B
Per Share Items
Net EPS - Basic	2.4	4.13	4.87	5.23	6.62
Basic EPS - Continuing Operations	2.4	4.13	4.87	5.23	6.62
Basic Weighted Average Shares Outstanding	240M	249M	251M	251M	251M
Net EPS - Diluted	2.38	4.08	4.82	5.17	6.55
Diluted EPS - Continuing Operations	2.38	4.08	4.82	5.17	6.55
Diluted Weighted Average Shares Outstanding	242M	252M	254M	254M	254M
Normalized Basic EPS	3.34	3.68	4.85	5.42	5.9
Normalized Diluted EPS	3.31	3.63	4.8	5.35	5.83
Dividend Per Share	2	0.33	0.14	3.19	3.6
Payout Ratio	17.71	22.1	6.81	55.34	51.39
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.86B	1.93B	2.37B	2.5B	2.72B
EBITA	1.71B	1.8B	2.23B	2.38B	2.59B
EBIT	1.46B	1.64B	2.06B	2.21B	2.42B
EBITDAR	-	-	2.44B	2.54B	2.76B
Total Revenues (As Reported)	10.79B	11.74B	14.2B	14.8B	16.03B
Effective Tax Rate - (Ratio)	25.55	22.86	26.07	23.89	24.75
Total Current Taxes	311M	367M	560M	573M	570M
Total Deferred Taxes	-115M	-60M	-129M	-158M	-21M
Normalized Net Income	801M	914M	1.22B	1.36B	1.48B
Interest on Long-Term Debt	77M	70M	87M	79M	84M
Non-Cash Pension Expense	8M	7M	7M	14M	14M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	68M	40M	47M
Imputed Operating Lease Interest Expense	-	-	17.99M	10.39M	13.98M
Imputed Operating Lease Depreciation	-	-	50.01M	29.61M	33.02M
Stock-Based Comp., COGS (Total)	55M	52M	64M	85M	91M
Total Stock-Based Compensation	55M	52M	64M	85M	91M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	3.7B	3.66B	4.62B	4.25B	3.64B
Short Term Investments	-	-	-	-	120M
Total Cash And Short Term Investments	3.7B	3.66B	4.62B	4.25B	3.76B
Accounts Receivable, Total	10.4B	12.29B	13.24B	14.7B	17.04B
Other Receivables	420M	491M	465M	800M	439M
Total Receivables	10.82B	12.78B	13.7B	15.5B	17.48B
Inventory	230M	277M	327M	341M	361M
Prepaid Expenses	107M	147M	174M	226M	160M
Other Current Assets, Total	276M	259M	287M	238M	232M
Total Current Assets	15.13B	17.13B	19.11B	20.55B	22B
Gross Property Plant And Equipment	4.22B	4.39B	4.48B	3.41B	4.9B
Accumulated Depreciation	-1.95B	-2.28B	-2.12B	-1.2B	-2.56B
Net Property Plant And Equipment	2.27B	2.1B	2.36B	2.21B	2.34B
Long-term Investments	168M	213M	262M	231M	244M
Goodwill	10.86B	11.76B	12.55B	12.42B	13.84B
Other Intangibles, Total	1.51B	1.38B	1.25B	958M	1.07B
Accounts Receivable Long-Term	21M	21M	71M	16M	9M
Loans Receivable Long-Term	34M	35M	68M	37M	39M
Deferred Tax Assets Long-Term	137M	175M	186M	212M	237M
Other Long-Term Assets, Total	33M	32M	48M	78M	74M
Total Assets	30.16B	32.85B	35.9B	36.72B	39.85B
Liabilities
Accounts Payable, Total	12.89B	14.48B	15.66B	17.08B	19.38B
Accrued Expenses, Total	1.21B	1.44B	1.44B	1.53B	1.57B
Short-term Borrowings	3M	12M	1M	1M	2M
Current Portion of Long-Term Debt	943M	290M	1.01B	883M	1.08B
Current Portion of Leases	292M	288M	360M	360M	361M
Current Income Taxes Payable	296M	328M	486M	378M	335M
Unearned Revenue Current, Total	404M	470M	549M	513M	604M
Other Current Liabilities	750M	923M	881M	1.09B	793M
Total Current Liabilities	16.78B	18.23B	20.39B	21.83B	24.12B
Long-Term Debt	3.65B	3.45B	2.99B	2.46B	1.84B
Long-Term Leases	1.85B	1.8B	2.2B	1.99B	2.1B
Pension & Other Post Retirement Benefits	290M	272M	244M	265M	271M
Deferred Tax Liability Non Current	247M	274M	219M	98M	172M
Other Non Current Liabilities	178M	271M	260M	319M	317M
Total Liabilities	23B	24.29B	26.3B	26.97B	28.82B
Common Stock, Total	99M	101M	102M	102M	102M
Additional Paid In Capital	-	-	4.04B	-	3.28B
Comprehensive Income and Other	7.08B	8.49B	5.5B	9.69B	7.68B
Total Common Equity	7.18B	8.59B	9.64B	9.79B	11.06B
Minority Interest	-22M	-33M	-35M	-40M	-24M
Total Equity	7.16B	8.56B	9.6B	9.75B	11.04B
Total Liabilities And Equity	30.16B	32.85B	35.9B	36.72B	39.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	240M	250M	252M	251M	251M
ECS Total Common Shares Outstanding	240M	250M	252M	251M	251M
Book Value / Share	29.95	34.41	38.24	39.06	44.11
Tangible Book Value	-5.18B	-4.55B	-4.16B	-3.59B	-3.85B
Tangible Book Value Per Share	-21.62	-18.23	-16.5	-14.34	-15.36
Total Debt	6.74B	5.84B	6.56B	5.7B	5.38B
Net Debt	3.04B	2.18B	1.94B	1.45B	1.62B
Debt Equivalent of Unfunded Proj. Benefit Obligation	228M	198M	178M	215M	228M
Debt Equivalent Oper. Leases	-	-	544M	320M	376M
Minority Interest, Total (Incl. Fin. Div)	-22M	-33M	-35M	-40M	-24M
Equity Method Investments, Total	24M	25M	55M	46M	79M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	211M	193M
Inventories - Others	243M	285M	345M	153M	186M
Land - (BS)	167M	167M	167M	169M	166M
Machinery, Total	1.09B	1.13B	1.17B	1.11B	1.14B
Full Time Employees	74.23K	87.29K	96.36K	102K	107K
Part Time Employees	-	-	1.67K	1.65K	-
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	152M	193M	183M	185M	168M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	576M	1.03B	1.22B	1.31B	1.66B
Depreciation & Amortization - CF	545M	388M	467M	426M	441M
Amortization of Goodwill and Intangible Assets - (CF)	244M	161M	171M	169M	165M
Depreciation & Amortization, Total	789M	549M	638M	595M	606M
Amortization of Deferred Charges, Total - (CF)	150M	184M	184M	155M	123M
(Gain) Loss From Sale Of Asset	-6M	28M	103M	-1M	-13M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-10M
Asset Writedown & Restructuring Costs	241M	122M	109M	153M	86M
(Income) Loss On Equity Investments - (CF)	1M	-	-5M	-6M	2M
Stock-Based Compensation (CF)	55M	52M	64M	85M	91M
Other Operating Activities, Total	113M	46M	107M	-236M	-83M
Change In Accounts Receivable	-24M	-1.22B	-710M	-2.3B	-1.45B
Change In Inventories	139M	-23M	-46M	-22M	-34M
Change In Accounts Payable	932M	1.02B	751M	2.32B	1.33B
Change in Other Net Operating Assets	-	-	-	-	-5M
Cash from Operations	2.97B	1.79B	2.42B	2.05B	2.3B
Capital Expenditure	-167M	-139M	-198M	-180M	-238M
Sale of Property, Plant, and Equipment	12M	3M	4M	2M	3M
Cash Acquisitions	-146M	-276M	-523M	-194M	-915M
Divestitures	1M	3M	-43M	11M	-
Investment in Marketable and Equity Securities, Total	-9M	4M	11M	13M	34M
Cash from Investing	-309M	-405M	-749M	-348M	-1.12B
Long-Term Debt Issued, Total	2M	9M	-	5M	1M
Total Debt Issued	2M	9M	-	5M	1M
Long-Term Debt Repaid, Total	-1.69B	-1.16B	-327M	-846M	-972M
Total Debt Repaid	-1.69B	-1.16B	-327M	-846M	-972M
Issuance of Common Stock	8M	-	41M	-	-
Repurchase of Common Stock	-	-127M	-	-189M	-148M
Common Dividends Paid	-102M	-227M	-83.2M	-726M	-853M
Common & Preferred Stock Dividends Paid	-102M	-227M	-83.2M	-726M	-853M
Special Dividend Paid	-	-	-520M	-	-
Other Financing Activities, Total	-210M	-173M	-111M	1M	-35M
Cash from Financing	-1.99B	-1.68B	-1B	-1.76B	-2.01B
Foreign Exchange Rate Adjustments	-379M	238M	300M	-311M	215M
Net Change in Cash	290M	-50M	968M	-366M	-607M
Supplemental Items
Cash Interest Paid	261M	176M	188M	178M	189M
Cash Income Tax Paid (Refund)	293M	362M	430M	669M	655M
Levered Free Cash Flow	2.35B	1.61B	2.2B	1.67B	2.05B
Unlevered Free Cash Flow	2.52B	1.72B	2.33B	1.8B	2.18B
Change In Net Working Capital	-776M	-54M	-354M	237M	-85M
Net Debt Issued / Repaid	-1.68B	-1.15B	-327M	-841M	-971M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.92	3.25	3.75	3.8	3.95
Return on Total Capital	6.11	7.23	8.43	8.72	9.5
Return On Equity %	7.85	13.18	13.46	13.67	16.06
Return on Common Equity	7.9	13.02	13.41	13.51	15.92
Margin Analysis
Gross Profit Margin %	43.7	43.89	42.74	43.23	43.31
SG&A Margin	-	-	-	-	-
EBITDA Margin %	17.23	16.48	16.72	16.92	16.96
EBITA Margin %	15.84	15.32	15.72	16.05	16.13
EBIT Margin %	13.58	13.95	14.52	14.9	15.1
Income From Continuing Operations Margin %	5.29	8.83	8.61	8.93	10.41
Net Income Margin %	5.34	8.75	8.61	8.86	10.36
Net Avail. For Common Margin %	5.34	8.75	8.61	8.86	10.36
Normalized Net Income Margin	7.42	7.79	8.58	9.18	9.22
Levered Free Cash Flow Margin	21.83	13.69	15.51	11.3	12.8
Unlevered Free Cash Flow Margin	23.35	14.68	16.41	12.14	13.6
Asset Turnover
Asset Turnover	0.34	0.37	0.41	0.41	0.42
Fixed Assets Turnover	4.22	5.37	6.36	6.47	7.04
Receivables Turnover (Average Receivables)	1	1.03	1.11	1.06	1.01
Inventory Turnover (Average Inventory)	18.95	25.98	26.92	25.16	25.89
Short Term Liquidity
Current Ratio	0.9	0.94	0.94	0.94	0.91
Quick Ratio	0.86	0.9	0.9	0.9	0.88
Operating Cash Flow to Current Liabilities	0.18	0.1	0.12	0.09	0.1
Days Sales Outstanding (Average Receivables)	366.95	352.79	328.23	344.42	362.31
Days Outstanding Inventory (Average Inventory)	19.31	14.05	13.56	14.51	14.14
Average Days Payable Outstanding	816.65	752.95	672.5	709.81	732.4
Cash Conversion Cycle (Average Days)	-430.39	-386.1	-330.71	-350.88	-355.95
Long Term Solvency
Total Debt/Equity	94.15	68.23	68.34	58.45	48.79
Total Debt / Total Capital	48.49	40.56	40.6	36.89	32.79
LT Debt/Equity	76.86	61.33	54.02	45.69	35.72
Long-Term Debt / Total Capital	39.59	36.46	32.09	28.84	24.01
Total Liabilities / Total Assets	76.26	73.95	73.26	73.45	72.31
EBIT / Interest Expense	5.59	8.85	10.05	11.09	11.75
EBITDA / Interest Expense	8.6	11.82	13.17	14.08	14.69
(EBITDA - Capex) / Interest Expense	7.97	11.06	12.2	13.17	13.54
Total Debt / EBITDA	2.99	2.67	2.43	2.03	1.78
Net Debt / EBITDA	1.35	1	0.72	0.52	0.54
Total Debt / (EBITDA - Capex)	3.23	2.85	2.62	2.17	1.93
Net Debt / (EBITDA - Capex)	1.46	1.06	0.78	0.55	0.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.94	8.81	20.94	4.27	8.3
Gross Profit, 1 Yr. Growth %	-6.39	9.13	17.76	5.47	8.49
EBITDA, 1 Yr. Growth %	-6.54	-0.21	12.04	-2.07	8.55
EBITA, 1 Yr. Growth %	-7.42	0.56	12.61	-1.7	8.88
EBIT, 1 Yr. Growth %	-10.45	17.43	25.9	7.04	9.75
Earnings From Cont. Operations, 1 Yr. Growth %	-32.35	81.44	17.95	8.18	26.25
Net Income, 1 Yr. Growth %	-31.51	78.3	18.99	7.36	26.52
Normalized Net Income, 1 Yr. Growth %	-16.99	21.58	29.54	12.11	8.71
Diluted EPS Before Extra, 1 Yr. Growth %	-32.96	71.43	18.14	7.26	26.69
Accounts Receivable, 1 Yr. Growth %	-7.46	18.25	7.68	11.02	15.94
Inventory, 1 Yr. Growth %	-44.04	20.43	18.05	4.28	5.87
Net Property, Plant and Equip., 1 Yr. Growth %	-20.09	-7.35	12.31	-6.47	6.02
Total Assets, 1 Yr. Growth %	-7.65	8.9	9.29	2.28	8.55
Tangible Book Value, 1 Yr. Growth %	-16.47	-12.23	-8.64	-13.61	7.24
Common Equity, 1 Yr. Growth %	-2.96	19.58	12.19	1.59	13
Cash From Operations, 1 Yr. Growth %	26.64	-39.58	34.88	-15.27	12.35
Capital Expenditures, 1 Yr. Growth %	-28.02	-16.77	42.45	-9.09	32.22
Levered Free Cash Flow, 1 Yr. Growth %	45.53	-30.43	36.98	-24.05	17.67
Unlevered Free Cash Flow, 1 Yr. Growth %	44.13	-30.36	35.23	-22.89	16.72
Dividend Per Share, 1 Yr. Growth %	73.91	-83.5	-57.58	2.18K	12.85
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.12	3.3	14.71	12.3	6.26
Gross Profit, 2 Yr. CAGR %	4.69	1.15	13.36	11.45	6.97
EBITDA, 2 Yr. CAGR %	2.57	-1.39	10.66	8.73	3.1
EBITA, 2 Yr. CAGR %	2.02	-1.31	11.73	9.47	3.46
EBIT, 2 Yr. CAGR %	-2.81	0.03	21.59	16.09	8.38
Earnings From Cont. Operations, 2 Yr. CAGR %	-21.64	10.79	46.29	12.96	16.87
Net Income, 2 Yr. CAGR %	-20.83	10.51	45.65	13.03	16.55
Normalized Net Income, 2 Yr. CAGR %	-6.5	-2.65	27.28	20.23	10.43
Diluted EPS Before Extra, 2 Yr. CAGR %	-22.08	7.21	42.31	12.57	16.57
Accounts Receivable, 2 Yr. CAGR %	2.02	4.61	12.84	9.34	13.46
Inventory, 2 Yr. CAGR %	-20.84	-17.9	19.24	10.95	5.07
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.55	-13.96	2.01	2.49	-0.42
Total Assets, 2 Yr. CAGR %	5.54	0.29	9.1	5.73	5.37
Tangible Book Value, 2 Yr. CAGR %	30.96	-14.37	-10.45	-11.16	-3.75
Common Equity, 2 Yr. CAGR %	2.37	7.72	15.83	6.76	7.14
Cash From Operations, 2 Yr. CAGR %	23.58	-12.53	-9.73	6.9	-2.43
Capital Expenditures, 2 Yr. CAGR %	-10.18	-22.6	8.89	13.8	9.64
Levered Free Cash Flow, 2 Yr. CAGR %	23.76	-0.33	-2.38	2	-3.48
Unlevered Free Cash Flow, 2 Yr. CAGR %	24.52	-0.7	-2.96	2.11	-3.27
Dividend Per Share, 2 Yr. CAGR %	-2.87	-46.43	-73.54	210.91	407.09
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.95	5.66	8.87	11.12	10.95
Gross Profit, 3 Yr. CAGR %	10.78	6.2	6.41	10.67	10.45
EBITDA, 3 Yr. CAGR %	1.5	3.06	6.06	8.92	8.67
EBITA, 3 Yr. CAGR %	1.4	3.07	6.53	9.93	9.27
EBIT, 3 Yr. CAGR %	-1.74	1.82	8	16.53	13.93
Earnings From Cont. Operations, 3 Yr. CAGR %	-13.16	3.66	13.13	32.29	17.23
Net Income, 3 Yr. CAGR %	-12.57	3.77	13.26	31.57	17.36
Normalized Net Income, 3 Yr. CAGR %	-4.48	-0.06	8.09	21.82	16.28
Diluted EPS Before Extra, 3 Yr. CAGR %	-13.99	1.34	10.73	29.51	17.09
Accounts Receivable, 3 Yr. CAGR %	2.16	7.17	5.62	12.23	11.5
Inventory, 3 Yr. CAGR %	-15.78	-8.95	-7.34	14.03	9.23
Net Property, Plant and Equip., 3 Yr. CAGR %	56.72	-3.52	-5.97	-0.9	3.65
Total Assets, 3 Yr. CAGR %	8.25	6.65	3.2	6.78	6.66
Tangible Book Value, 3 Yr. CAGR %	12.74	14.61	-12.5	-11.52	-5.41
Common Equity, 3 Yr. CAGR %	6.44	7.81	9.19	10.87	8.8
Cash From Operations, 3 Yr. CAGR %	24.82	-2.64	1.06	-11.61	8.69
Capital Expenditures, 3 Yr. CAGR %	7.08	-12.43	-5.15	2.53	19.63
Levered Free Cash Flow, 3 Yr. CAGR %	30.37	1.5	10.82	-10.21	8.47
Unlevered Free Cash Flow, 3 Yr. CAGR %	30.78	1.99	10.07	-10.12	8.16
Dividend Per Share, 3 Yr. CAGR %	0	-46.21	-50.44	16.84	121.78
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.36	3.82	8.75	8.27	7.82
Gross Profit, 5 Yr. CAGR %	4.84	6.63	11.84	8.27	6.63
EBITDA, 5 Yr. CAGR %	0.99	2.07	5.94	7.22	6.44
EBITA, 5 Yr. CAGR %	1.16	2.35	6.37	7.66	6.97
EBIT, 5 Yr. CAGR %	-0.56	1.75	5.95	7.3	8.15
Earnings From Cont. Operations, 5 Yr. CAGR %	-8.92	14.78	6.98	7.29	14.61
Net Income, 5 Yr. CAGR %	-8.56	14.28	7.23	7.38	14.57
Normalized Net Income, 5 Yr. CAGR %	-2.19	0.6	5.8	8.22	8.92
Diluted EPS Before Extra, 5 Yr. CAGR %	-9.82	11.57	5.2	5.69	13.03
Accounts Receivable, 5 Yr. CAGR %	1.33	4.2	6.31	8.03	8.69
Inventory, 5 Yr. CAGR %	-10.96	-7.36	-3.21	-1.46	-2.56
Net Property, Plant and Equip., 5 Yr. CAGR %	28.04	26.87	31.98	-1.16	-3.79
Total Assets, 5 Yr. CAGR %	3.46	5.7	8.59	6.28	4.06
Tangible Book Value, 5 Yr. CAGR %	-0.04	0.5	2.82	3.51	-9.1
Common Equity, 5 Yr. CAGR %	1.84	7.24	10.1	7.39	8.37
Cash From Operations, 5 Yr. CAGR %	16.12	10.82	9.65	1.07	-0.35
Capital Expenditures, 5 Yr. CAGR %	-6.28	-4.28	7.8	-2.76	0.51
Levered Free Cash Flow, 5 Yr. CAGR %	14.08	15.46	15.68	1.7	4.86
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.37	15.18	15.66	2.04	4.52
Dividend Per Share, 5 Yr. CAGR %	4.56	-29.16	-41.25	8.52	25.64