Cash flow Puig Brands SA

Stocks

PUIG

ES0105777017

Other Specialty Retailers

Real-time Estimate Tradegate Other stock markets 14:39:19 22/07/2026 BST			5-day change	1st Jan Change
17.02 ^EUR	+1.10%		+2.16%	+14.73%

07-16	Puig Forecasts Lifted as AlphaValue/Baader Europe Notes Fragrance Business Strength	MT
07-15	Puig Brand SA: Quality growth through the cycle

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Published financial data: PUIG BRANDS SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.59B	3.62B	4.3B	4.79B	5.04B
Total Revenues	2.59B	3.62B	4.3B	4.79B	5.04B
Cost of Goods Sold, Total	700M	927M	1.09B	1.2B	1.26B
Gross Profit	1.89B	2.69B	3.22B	3.59B	3.79B
Selling General & Admin Expenses, Total	1.53B	2.16B	2.52B	2.83B	2.97B
Other Operating Expenses	-	-16K	4.36M	129M	-23.94M
Other Operating Expenses, Total	1.53B	2.16B	2.53B	2.96B	2.95B
Operating Income	352M	537M	689M	630M	836M
Interest Expense, Total	-26.87M	-32.99M	-59.46M	-76.81M	-61.69M
Interest And Investment Income	5.21M	16.27M	23.99M	19.86M	19.58M
Net Interest Expenses	-21.66M	-16.72M	-35.48M	-56.94M	-42.11M
Income (Loss) On Equity Invest.	28.49M	55.62M	51.35M	61.06M	44.76M
Currency Exchange Gains (Loss)	2.9M	-9.89M	-45.73M	-10.29M	-27.19M
Other Non Operating Income (Expenses)	-43.61M	-8.25M	-	-	-
EBT, Excl. Unusual Items	318M	557M	659M	624M	812M
Restructuring Charges	-	-8.72M	-1.34M	-	-
Merger & Related Restructuring Charges	-	-23.22M	-7.96M	-17.82M	-1.91M
Other Unusual Items	34.95M	-11.6M	-6.3M	86.59M	9.89M
EBT, Incl. Unusual Items	353M	514M	643M	693M	820M
Income Tax Expense	154M	101M	143M	150M	203M
Earnings From Continuing Operations	199M	413M	500M	543M	617M
Net Income to Company	199M	413M	500M	543M	617M
Minority Interest	22.12M	-13.03M	-34.68M	-11.88M	-23.41M
Net Income - (IS)	221M	399M	465M	531M	594M
Net Income to Common Incl Extra Items	221M	399M	465M	531M	594M
Net Income to Common Excl. Extra Items	221M	399M	465M	531M	594M
Per Share Items
Net EPS - Basic	-	3K	1.25	0.98	1.05
Basic EPS - Continuing Operations	-	3K	1.25	0.98	1.05
Basic Weighted Average Shares Outstanding	-	133K	373M	541M	563M
Net EPS - Diluted	-	3K	1.25	0.98	1.05
Diluted EPS - Continuing Operations	-	3K	1.25	0.98	1.05
Diluted Weighted Average Shares Outstanding	-	133K	373M	541M	563M
Normalized Basic EPS	-	2.52K	1.01	0.7	0.86
Normalized Diluted EPS	-	2.52K	1.01	0.7	0.86
Dividend Per Share	-	-	-	0.38	-
Payout Ratio	9.27	33.04	38.98	35.07	35.75
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	406M	606M	775M	745M	964M
EBITA	357M	546M	700M	652M	859M
EBIT	352M	537M	689M	630M	836M
EBITDAR	416M	620M	791M	766M	979M
Effective Tax Rate - (Ratio)	43.6	19.7	22.28	21.66	24.73
Total Current Taxes	85.85M	134M	163M	170M	205M
Total Deferred Taxes	67.89M	-32.77M	-19.37M	-20.28M	-2.05M
Normalized Net Income	221M	335M	377M	378M	484M
Interest on Long-Term Debt	1.3M	3.02M	5.1M	8.87M	10.65M
Non-Cash Pension Expense	0	0	0	0	0
Supplemental Operating Expense Items
Advertising Expense	839M	1.1B	1.34B	1.55B	1.65B
Selling and Marketing Expenses	977M	1.32B	1.56B	1.77B	1.88B
Research And Development Expense From Footnotes	22.68M	28.59M	33.21M	41.83M	43.9M
Net Rental Expense, Total	10.12M	14.05M	16.01M	20.8M	14.73M
Imputed Operating Lease Interest Expense	-	2.27M	3.35M	5.66M	3.81M
Imputed Operating Lease Depreciation	-	11.78M	12.67M	15.14M	10.91M
Stock-Based Comp., Other (Total)	-	-	-	-	12.38M
Total Stock-Based Compensation	-	-	-	-	12.38M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	693M	710M	853M	883M	1.04B
Trading Asset Securities, Total	-	-	-	1.79M	470K
Total Cash And Short Term Investments	693M	710M	853M	884M	1.04B
Accounts Receivable, Total	317M	388M	485M	568M	578M
Other Receivables	56.85M	89.11M	135M	223M	164M
Notes Receivable	64.98M	90.28M	203K	-	-
Total Receivables	439M	567M	620M	791M	743M
Inventory	363M	626M	789M	720M	694M
Prepaid Expenses	31.83M	52.67M	48.01M	57.96M	50.24M
Other Current Assets, Total	-	-	3.1M	-	9.34M
Total Current Assets	1.53B	1.96B	2.31B	2.45B	2.53B
Gross Property Plant And Equipment	983M	1.23B	1.43B	1.67B	1.77B
Accumulated Depreciation	-583M	-717M	-812M	-921M	-1B
Net Property Plant And Equipment	400M	511M	614M	745M	774M
Long-term Investments	356M	401M	406M	402M	417M
Goodwill	1.01B	1.73B	1.75B	2.08B	2.04B
Other Intangibles, Total	1.65B	2.34B	2.37B	2.62B	2.56B
Loans Receivable Long-Term	19.67M	18.97M	98.05M	104M	4.85M
Deferred Tax Assets Long-Term	85.07M	124M	147M	172M	192M
Other Long-Term Assets, Total	42.97M	41.57M	18.5M	20.89M	27.98M
Total Assets	5.09B	7.12B	7.71B	8.6B	8.55B
Liabilities
Accounts Payable, Total	167M	239M	212M	229M	245M
Accrued Expenses, Total	408M	457M	528M	642M	649M
Short-term Borrowings	11.14M	48.96M	74.51M	82.72M	87.76M
Current Portion of Long-Term Debt	135M	130M	284M	445M	547M
Current Portion of Leases	37.29M	43.92M	58.07M	74.5M	77.08M
Current Income Taxes Payable	18.2M	29.1M	55.32M	47.62M	37.16M
Other Current Liabilities	197M	247M	438M	282M	610M
Total Current Liabilities	973M	1.19B	1.65B	1.8B	2.25B
Long-Term Debt	827M	1.66B	1.79B	1.13B	718M
Long-Term Leases	167M	209M	256M	323M	328M
Pension & Other Post Retirement Benefits	9.3M	8.48M	8.33M	9.79M	10.1M
Deferred Tax Liability Non Current	399M	553M	554M	619M	622M
Other Non Current Liabilities	1.67B	2.54B	2.5B	1.18B	704M
Total Liabilities	4.04B	6.16B	6.75B	5.07B	4.64B
Common Stock, Total	4.2M	115M	144M	128M	128M
Retained Earnings	-	-	-80M	-	-
Treasury Stock	-	-	-106M	-80.28M	-80.28M
Comprehensive Income and Other	1.04B	830M	992M	3.48B	3.85B
Total Common Equity	1.04B	945M	950M	3.53B	3.9B
Minority Interest	8.07M	6.75M	9.3M	11.58M	12.57M
Total Equity	1.05B	952M	959M	3.54B	3.91B
Total Liabilities And Equity	5.09B	7.12B	7.71B	8.6B	8.55B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	133K	495M	563M	563M
ECS Total Common Shares Outstanding	-	133K	494M	563M	563M
Book Value / Share	-	7.1K	1.92	6.26	6.92
Tangible Book Value	-1.62B	-3.12B	-3.16B	-1.18B	-699M
Tangible Book Value Per Share	-	-23.42K	-6.41	-2.09	-1.24
Total Debt	1.18B	2.09B	2.46B	2.06B	1.76B
Net Debt	485M	1.38B	1.61B	1.17B	721M
Debt Equivalent of Unfunded Proj. Benefit Obligation	9.3M	8.48M	8.33M	9.79M	10.1M
Debt Equivalent Oper. Leases	80.93M	112M	128M	166M	118M
Minority Interest, Total (Incl. Fin. Div)	8.07M	6.75M	9.3M	11.58M	12.57M
Equity Method Investments, Total	346M	345M	375M	395M	415M
Account Code - Inventory Valuation	-	-	5	5	5
Inventories - Raw Materials, Total	112M	164M	191M	183M	180M
Inventories - Work In Process, Total	86.47M	168M	153M	169M	96.5M
Inventories - Finished Goods, Total	237M	385M	561M	495M	541M
Land - (BS)	254M	289M	335M	377M	400M
Machinery, Total	433M	522M	576M	674M	707M
Full Time Employees	-	-	11.12K	10.84K	11.53K
Part Time Employees	-	-	-	144	171
Accumulated Allowance for Doubtful Accounts (Supple)	17.03M	18.01M	17.16M	16.28M	26.99M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	221M	399M	465M	531M	594M
Depreciation & Amortization - CF	86.6M	114M	141M	169M	188M
Amortization of Goodwill and Intangible Assets - (CF)	5.12M	9.06M	11.27M	22.15M	22.5M
Depreciation & Amortization, Total	91.72M	123M	152M	191M	211M
Amortization of Deferred Charges, Total - (CF)	14.44M	17.9M	21.63M	19M	24.96M
Minority Interest in Earnings - (CF)	-22.12M	13.03M	34.68M	11.88M	23.41M
(Gain) Loss From Sale Of Asset	32K	69K	-457K	668K	-
Asset Writedown & Restructuring Costs	361K	4.07M	-4.38M	-	-
(Income) Loss On Equity Investments - (CF)	-28.49M	-55.62M	-51.35M	-61.06M	-44.76M
Other Operating Activities, Total	167M	76.23M	133M	5.82M	9.71M
Change In Accounts Receivable	-8.28M	-51.43M	-96.77M	-76.98M	-35.58M
Change In Inventories	-53.82M	-237M	-163M	77.6M	-7.91M
Change In Accounts Payable	42.96M	45.47M	-26.82M	5.83M	20.29M
Change in Other Net Operating Assets	86.58M	84.67M	91.7M	34.78M	64.48M
Cash from Operations	511M	420M	556M	740M	859M
Capital Expenditure	-77.22M	-152M	-178M	-191M	-198M
Sale of Property, Plant, and Equipment	137K	538K	1.39M	139K	23.18M
Cash Acquisitions	-25.47M	-882M	-51.9M	-1.08B	-13.48M
Investment in Marketable and Equity Securities, Total	-30.5M	-9.45M	-4.6M	18.03M	-
Other Investing Activities, Total	-11.93M	-4.66M	-53.62M	8.96M	143M
Cash from Investing	-145M	-1.05B	-287M	-1.24B	-46.08M
Long-Term Debt Issued, Total	287M	993M	430M	659M	266M
Total Debt Issued	287M	993M	430M	659M	266M
Long-Term Debt Repaid, Total	-609M	-217M	-238M	-1.3B	-706M
Total Debt Repaid	-609M	-217M	-238M	-1.3B	-706M
Issuance of Common Stock	-	-	-	1.38B	-
Repurchase of Common Stock	-	-	-108M	-357K	-
Common Dividends Paid	-20.48M	-132M	-181M	-186M	-212M
Common & Preferred Stock Dividends Paid	-20.48M	-132M	-181M	-186M	-212M
Other Financing Activities, Total	-	-	-	-6.43M	-1.58M
Cash from Financing	-342M	645M	-98.01M	538M	-654M
Foreign Exchange Rate Adjustments	-888K	684K	-28.97M	-7.74M	-5.68M
Net Change in Cash	22.9M	17.39M	143M	29.74M	154M
Supplemental Items
Levered Free Cash Flow	-	74.96M	437M	224M	947M
Unlevered Free Cash Flow	-	95.58M	474M	272M	986M
Change In Net Working Capital	-	229M	-47.37M	141M	-413M
Net Debt Issued / Repaid	-322M	777M	192M	-646M	-440M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	5.49	5.81	4.83	6.1
Return on Total Capital	-	12.72	13.31	8.74	9.28
Return On Equity %	-	41.25	52.32	24.13	16.57
Return on Common Equity	-	40.25	49.1	23.71	15.99
Margin Analysis
Gross Profit Margin %	72.92	74.39	74.7	74.91	75.11
SG&A Margin	59.32	59.57	58.6	59.07	58.99
EBITDA Margin %	15.71	16.74	18.01	15.56	19.12
EBITA Margin %	13.8	15.07	16.26	13.61	17.03
EBIT Margin %	13.6	14.82	16	13.15	16.59
Income From Continuing Operations Margin %	7.69	11.4	11.61	11.33	12.24
Net Income Margin %	8.55	11.04	10.81	11.08	11.77
Net Avail. For Common Margin %	8.55	11.04	10.81	11.08	11.77
Normalized Net Income Margin	8.54	9.26	8.76	7.89	9.6
Levered Free Cash Flow Margin	-	2.07	10.15	4.68	18.79
Unlevered Free Cash Flow Margin	-	2.64	11.01	5.69	19.55
Asset Turnover
Asset Turnover	-	0.59	0.58	0.59	0.59
Fixed Assets Turnover	-	7.95	7.65	7.05	6.64
Receivables Turnover (Average Receivables)	-	10.27	9.86	9.1	8.8
Inventory Turnover (Average Inventory)	-	1.87	1.54	1.59	1.78
Short Term Liquidity
Current Ratio	1.57	1.64	1.4	1.36	1.12
Quick Ratio	1.1	0.99	0.89	0.93	0.79
Operating Cash Flow to Current Liabilities	0.53	0.35	0.34	0.41	0.38
Days Sales Outstanding (Average Receivables)	-	35.56	37	40.2	41.48
Days Outstanding Inventory (Average Inventory)	-	194.8	237.19	229.83	205.59
Average Days Payable Outstanding	-	62.17	65.76	71.31	70.52
Cash Conversion Cycle (Average Days)	-	168.19	208.42	198.72	176.55
Long Term Solvency
Total Debt/Equity	112.32	220	256.55	58.09	44.94
Total Debt / Total Capital	52.9	68.75	71.95	36.75	31.01
LT Debt/Equity	94.78	196.62	213.13	41.08	26.74
Long-Term Debt / Total Capital	44.64	61.44	59.78	25.98	18.45
Total Liabilities / Total Assets	79.4	86.63	87.56	58.88	54.23
EBIT / Interest Expense	13.08	16.26	11.58	8.2	13.56
EBITDA / Interest Expense	16.5	19.99	14.14	10.69	16.97
(EBITDA - Capex) / Interest Expense	13.62	15.39	11.15	8.21	13.76
Total Debt / EBITDA	2.66	3.17	2.93	2.5	1.68
Net Debt / EBITDA	1.09	2.1	1.91	1.43	0.69
Total Debt / (EBITDA - Capex)	3.22	4.12	3.71	3.26	2.07
Net Debt / (EBITDA - Capex)	1.32	2.72	2.42	1.86	0.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	68.19	40.02	18.91	11.28	5.27
Gross Profit, 1 Yr. Growth %	83.2	42.84	19.41	11.6	5.54
EBITDA, 1 Yr. Growth %	-	49.12	27.98	-3.84	11.45
EBITA, 1 Yr. Growth %	176.51	52.95	28.28	-6.83	11.32
EBIT, 1 Yr. Growth %	172.54	52.6	28.35	-8.52	11.61
Earnings From Cont. Operations, 1 Yr. Growth %	-384.17	107.39	21.18	8.53	13.74
Net Income, 1 Yr. Growth %	-415.77	80.73	16.45	14.07	11.88
Normalized Net Income, 1 Yr. Growth %	-590.43	51.91	12.46	0.24	6.93
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	-99.96	13.74	11.88
Accounts Receivable, 1 Yr. Growth %	-	22.28	24.94	17.09	1.93
Inventory, 1 Yr. Growth %	-	72.48	25.95	-8.69	-3.71
Net Property, Plant and Equip., 1 Yr. Growth %	-	27.86	20.22	21.35	3.77
Total Assets, 1 Yr. Growth %	-	39.76	8.38	11.57	-0.65
Tangible Book Value, 1 Yr. Growth %	-	92.39	1.51	-62.72	-40.71
Common Equity, 1 Yr. Growth %	-	-9.19	0.54	271.21	10.58
Cash From Operations, 1 Yr. Growth %	-	-17.86	32.58	32.92	16.14
Capital Expenditures, 1 Yr. Growth %	-	96.31	17.37	7.31	3.96
Levered Free Cash Flow, 1 Yr. Growth %	-	-	482.67	-48.64	216.81
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	395.85	-42.54	184.09
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.87	53.46	29.04	15.03	8.23
Gross Profit, 2 Yr. CAGR %	13.67	61.76	30.6	15.44	8.53
EBITDA, 2 Yr. CAGR %	-	-	38.14	10.94	11.51
EBITA, 2 Yr. CAGR %	3.5	105.65	40.08	9.32	10.78
EBIT, 2 Yr. CAGR %	2.75	103.94	39.95	8.36	10.21
Earnings From Cont. Operations, 2 Yr. CAGR %	-6.18	142.76	58.53	14.68	11.11
Net Income, 2 Yr. CAGR %	-1.1	138.89	45.07	15.25	12.97
Normalized Net Income, 2 Yr. CAGR %	7.77	172.95	30.71	6.18	13.3
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-	-98.19	10.5
Accounts Receivable, 2 Yr. CAGR %	-	-	23.6	20.95	9.24
Inventory, 2 Yr. CAGR %	-	-	47.39	7.24	-6.23
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	23.98	20.78	12.22
Total Assets, 2 Yr. CAGR %	-	-	23.07	9.96	5.28
Tangible Book Value, 2 Yr. CAGR %	-	-	39.75	-38.49	-52.99
Common Equity, 2 Yr. CAGR %	-	-	-4.45	93.18	102.61
Cash From Operations, 2 Yr. CAGR %	-	-	4.35	32.75	24.25
Capital Expenditures, 2 Yr. CAGR %	-	-	51.79	12.23	5.62
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	72.99	47.27
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	68.79	44.22
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	10.17	21.28	40.95	22.82	11.68
Gross Profit, 3 Yr. CAGR %	10.16	22.66	46.19	23.93	12.04
EBITDA, 3 Yr. CAGR %	-	-	-	22.43	16.75
EBITA, 3 Yr. CAGR %	-2.34	17.89	75.72	22.27	16.33
EBIT, 3 Yr. CAGR %	-2.81	17.23	74.77	21.46	15.95
Earnings From Cont. Operations, 3 Yr. CAGR %	-6.33	22.21	92.57	39.72	14.37
Net Income, 3 Yr. CAGR %	-2.97	20.91	88.01	33.9	14.12
Normalized Net Income, 3 Yr. CAGR %	2.7	20.84	103.11	19.64	13.02
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-	-92.95
Accounts Receivable, 3 Yr. CAGR %	-	-	-	21.39	14.25
Inventory, 3 Yr. CAGR %	-	-	-	25.65	3.46
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	23.1	14.82
Total Assets, 3 Yr. CAGR %	-	-	-	19.11	6.31
Tangible Book Value, 3 Yr. CAGR %	-	-	-	-10.04	-39.24
Common Equity, 3 Yr. CAGR %	-	-	-	50.21	60.4
Cash From Operations, 3 Yr. CAGR %	-	-	-	13.12	26.96
Capital Expenditures, 3 Yr. CAGR %	-	-	-	35.22	9.4
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	132.92
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	117.67
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	17.36	18.74	26.82
Gross Profit, 5 Yr. CAGR %	-	-	17.92	19.72	29.77
EBITA, 5 Yr. CAGR %	-	-	12.81	14.39	46.11
EBIT, 5 Yr. CAGR %	-	-	12.45	13.6	45.33
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	15.61	19.14	54.54
Net Income, 5 Yr. CAGR %	-	-	13.96	18.62	53.35
Normalized Net Income, 5 Yr. CAGR %	-	-	13.1	14.75	60.81