Cash flow Bechtle AG Xetra

Stocks

DE000A40UTS1

IT Services & Consulting

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07-29	BECHTLE AG : Gets a Buy rating from Deutsche Bank	ZD
07-28	European shares rise as Unilever lifts consumer stocks	RE

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Published financial data: BECHTLE AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	5.31B	6.03B	6.42B	6.31B	6.41B
Total Revenues	5.31B	6.03B	6.42B	6.31B	6.41B
Cost of Goods Sold, Total	4.39B	4.97B	5.3B	5.17B	5.21B
Gross Profit	920M	1.05B	1.12B	1.14B	1.19B
Selling General & Admin Expenses, Total	628M	734M	794M	839M	907M
Other Operating Expenses	-29.67M	-35.88M	-53.94M	-52.41M	-50.32M
Other Operating Expenses, Total	598M	698M	740M	787M	856M
Operating Income	322M	355M	382M	351M	335M
Interest Expense, Total	-6.64M	-6.45M	-14.95M	-23.12M	-26.12M
Interest And Investment Income	1.42M	1.51M	6.9M	18.82M	16.28M
Net Interest Expenses	-5.22M	-4.94M	-8.04M	-4.31M	-9.84M
Income (Loss) On Equity Invest.	-	-	235K	-235K	-
Other Non Operating Income (Expenses)	-	-	-12K	-1.73M	-1.26M
EBT, Excl. Unusual Items	317M	350M	374M	345M	324M
Gain (Loss) On Sale Of Assets	3.89M	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	320M	350M	374M	345M	324M
Income Tax Expense	89.05M	99.37M	109M	100M	95.87M
Earnings From Continuing Operations	231M	251M	266M	245M	228M
Net Income to Company	231M	251M	266M	245M	228M
Minority Interest	-	-	-	647K	887K
Net Income - (IS)	231M	251M	266M	245M	229M
Net Income to Common Incl Extra Items	231M	251M	266M	245M	229M
Net Income to Common Excl. Extra Items	231M	251M	266M	245M	229M
Per Share Items
Net EPS - Basic	1.84	1.99	2.11	1.95	1.82
Basic EPS - Continuing Operations	1.84	1.99	2.11	1.95	1.82
Basic Weighted Average Shares Outstanding	126M	126M	126M	126M	126M
Net EPS - Diluted	1.84	1.99	2.11	1.95	1.82
Diluted EPS - Continuing Operations	1.84	1.99	2.11	1.95	1.82
Diluted Weighted Average Shares Outstanding	126M	126M	126M	126M	126M
Normalized Basic EPS	1.57	1.74	1.86	1.72	1.62
Normalized Diluted EPS	1.57	1.74	1.86	1.72	1.62
Dividend Per Share	0.55	0.65	0.7	0.7	0.7
Payout Ratio	24.5	27.6	30.85	35.93	38.48
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	365M	406M	440M	413M	404M
EBITA	337M	374M	404M	373M	357M
EBIT	322M	355M	382M	351M	335M
EBITDAR	380M	425M	461M	436M	428M
Effective Tax Rate - (Ratio)	27.79	28.35	29.1	29.04	29.57
Current Domestic Taxes	51.01M	68.82M	83.26M	75.36M	69.92M
Current Foreign Taxes	29.09M	31.2M	31.63M	28.44M	31.78M
Total Current Taxes	80.1M	100M	115M	104M	102M
Total Deferred Taxes	8.96M	-651K	-5.92M	-3.59M	-5.82M
Normalized Net Income	198M	219M	234M	216M	204M
Interest on Long-Term Debt	-	732K	3.48M	7.62M	9.26M
Non-Cash Pension Expense	-758K	348K	298K	468K	576K
Supplemental Operating Expense Items
Marketing Expenses	18.38M	27.48M	31.68M	32.42M	33.01M
Selling and Marketing Expenses	345M	393M	437M	457M	484M
General and Administrative Expenses	283M	341M	357M	383M	423M
Research And Development Expense From Footnotes	5.9M	2.88M	3.37M	5.93M	10.76M
Net Rental Expense, Total	15.01M	18.52M	20.93M	22.84M	24.78M
Imputed Operating Lease Interest Expense	1.52M	1.89M	3.98M	5.46M	6.74M
Imputed Operating Lease Depreciation	13.49M	16.63M	16.95M	17.37M	18.03M
Maintenance & Repair Expenses, Total	-	-	-	-	5.8M
Stock-Based Comp., Other (Total)	-	-	-	2.02M	3.08M
Total Stock-Based Compensation	-	-	-	2.02M	3.08M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	432M	230M	436M	643M	379M
Short Term Investments	-	60M	30M	73.09M	73.26M
Total Cash And Short Term Investments	432M	290M	466M	716M	452M
Accounts Receivable, Total	957M	1.26B	1.26B	1.3B	1.56B
Other Receivables	127M	175M	203M	222M	258M
Notes Receivable	-	-	-	-	-
Total Receivables	1.08B	1.43B	1.46B	1.53B	1.82B
Inventory	514M	608M	440M	377M	382M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	5.76M	4.31M	8.9M	18.22M	34.98M
Total Current Assets	2.04B	2.33B	2.38B	2.64B	2.69B
Gross Property Plant And Equipment	564M	618M	738M	823M	901M
Accumulated Depreciation	-228M	-273M	-306M	-346M	-404M
Net Property Plant And Equipment	335M	345M	433M	477M	497M
Long-term Investments	2K	-	32.5M	-	-
Goodwill	470M	554M	732M	857M	984M
Other Intangibles, Total	98.86M	99.7M	117M	144M	167M
Accounts Receivable Long-Term	57.84M	67.13M	67.55M	60.16M	140M
Loans Receivable Long-Term	-	-	871K	-	-
Deferred Tax Assets Long-Term	8.92M	9.45M	10.64M	8.53M	7.99M
Other Long-Term Assets, Total	13.49M	40.01M	33.2M	32.78M	90.09M
Total Assets	3.02B	3.45B	3.8B	4.22B	4.57B
Liabilities
Accounts Payable, Total	613M	699M	629M	827M	958M
Accrued Expenses, Total	194M	268M	229M	223M	251M
Short-term Borrowings	1.34M	2.13M	1.96M	37.97M	53.24M
Current Portion of Long-Term Debt	33.19M	109M	14.44M	143M	18.54M
Current Portion of Leases	43.63M	51.42M	57.19M	62.21M	68.51M
Current Income Taxes Payable	30.52M	27.85M	24.97M	12.27M	17.18M
Unearned Revenue Current, Total	195M	196M	230M	223M	278M
Other Current Liabilities	56.06M	90.09M	89.23M	78.72M	85.79M
Total Current Liabilities	1.17B	1.44B	1.28B	1.61B	1.73B
Long-Term Debt	311M	262M	524M	404M	401M
Long-Term Leases	100M	98.45M	136M	165M	182M
Unearned Revenue Non Current	22.37M	50.42M	54.65M	35.18M	45.01M
Pension & Other Post Retirement Benefits	12.99M	7.93M	17.28M	11.71M	12.1M
Deferred Tax Liability Non Current	37.27M	33.45M	39M	47.29M	56.86M
Other Non Current Liabilities	15.83M	12.77M	13.5M	31.1M	95.3M
Total Liabilities	1.67B	1.91B	2.06B	2.3B	2.52B
Common Stock, Total	126M	126M	126M	126M	126M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	1.16B	1.34B	1.52B	1.68B	1.82B
Comprehensive Income and Other	70.15M	73.54M	94.22M	106M	103M
Total Common Equity	1.35B	1.54B	1.74B	1.91B	2.05B
Minority Interest	-	-	-	3.62M	2.74M
Total Equity	1.35B	1.54B	1.74B	1.92B	2.05B
Total Liabilities And Equity	3.02B	3.45B	3.8B	4.22B	4.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	126M	126M	126M	126M	126M
ECS Total Common Shares Outstanding	126M	126M	126M	126M	126M
Book Value / Share	10.74	12.21	13.83	15.17	16.27
Tangible Book Value	785M	884M	893M	911M	899M
Tangible Book Value Per Share	6.23	7.02	7.09	7.23	7.13
Total Debt	489M	523M	734M	812M	723M
Net Debt	57.48M	234M	268M	96.05M	271M
Debt Equivalent of Unfunded Proj. Benefit Obligation	12.99M	3.68M	17.28M	-151K	-10.49M
Debt Equivalent Oper. Leases	120M	148M	167M	183M	198M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	3.62M	2.74M
Equity Method Investments, Total	-	-	32.5M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	533M	631M	463M	383M	397M
Inventories - Others	238K	396K	258K	15.12M	6.14M
Land - (BS)	-	-	-	-	-
Machinery, Total	168M	189M	217M	249M	278M
Full Time Employees	12.88K	14.05K	14.31K	13.95K	14.23K
Part Time Employees	-	-	-	1.85K	2.34K
Accumulated Allowance for Doubtful Accounts (Supple)	25.38M	23.7M	22.27M	17.34M	17.08M
Order Backlog	1.8B	1.69B	2.15B	2.56B	3.21B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	231M	251M	266M	245M	229M
Depreciation & Amortization - CF	72.52M	80.66M	93.41M	100M	114M
Amortization of Goodwill and Intangible Assets - (CF)	15.5M	18.08M	21.21M	21.99M	21.95M
Depreciation & Amortization, Total	88.02M	98.74M	115M	122M	135M
Amortization of Deferred Charges, Total - (CF)	14.98M	13.32M	12M	18.07M	23.79M
(Gain) Loss From Sale Of Asset	-277K	-124K	-189K	525K	2.04M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Other Operating Activities, Total	5M	-4.33M	-4.9M	-11.28M	-3.79M
Change In Accounts Receivable	-44.37M	-248M	103M	43.67M	-149M
Change In Inventories	-217M	-93.72M	176M	103M	-225K
Change In Accounts Payable	175M	56.74M	-97.56M	187M	165M
Change in Unearned Revenues	29.13M	56.37M	24.8M	-31.8M	-
Change in Other Net Operating Assets	2.39M	-12.97M	-134M	-119M	-113M
Cash from Operations	284M	117M	459M	558M	290M
Capital Expenditure	-58.27M	-81.7M	-101M	-88.67M	-121M
Sale of Property, Plant, and Equipment	8.2M	27.4M	16.81M	15.53M	8.66M
Cash Acquisitions	-15.84M	-92.16M	-223M	-108M	-158M
Divestitures	-	-	-	-	1.63M
Investment in Marketable and Equity Securities, Total	40M	-60M	30M	-43M	-173K
Other Investing Activities, Total	-17.03M	-17.86M	-4.74M	17.85M	18M
Cash from Investing	-42.94M	-224M	-283M	-206M	-251M
Long-Term Debt Issued, Total	5.96M	59.94M	298M	49.78M	8.9M
Total Debt Issued	5.96M	59.94M	298M	49.78M	8.9M
Long-Term Debt Repaid, Total	-122M	-85.33M	-173M	-86.82M	-198M
Total Debt Repaid	-122M	-85.33M	-173M	-86.82M	-198M
Common Dividends Paid	-56.7M	-69.3M	-81.9M	-88.2M	-88.2M
Common & Preferred Stock Dividends Paid	-56.7M	-69.3M	-81.9M	-88.2M	-88.2M
Other Financing Activities, Total	-6.7M	-5.52M	-14.92M	-20.73M	-23.64M
Cash from Financing	-179M	-100M	28.25M	-146M	-301M
Foreign Exchange Rate Adjustments	6.38M	5.72M	1.44M	1.44M	-2.03M
Net Change in Cash	68.58M	-202M	206M	207M	-264M
Supplemental Items
Cash Interest Paid	6.7M	5.52M	14.92M	20.73M	23.64M
Cash Income Tax Paid (Refund)	101M	118M	114M	116M	113M
Levered Free Cash Flow	186M	2.06M	308M	410M	144M
Unlevered Free Cash Flow	190M	6.09M	318M	424M	161M
Change In Net Working Capital	55.9M	246M	-53.27M	-151M	90.15M
Net Debt Issued / Repaid	-116M	-25.39M	125M	-37.04M	-189M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.05	6.87	6.59	5.48	4.77
Return on Total Capital	11.29	11.38	10.53	8.44	7.62
Return On Equity %	18.4	17.37	16.19	13.39	11.51
Return on Common Equity	18.4	17.37	16.19	13.44	11.57
Margin Analysis
Gross Profit Margin %	17.34	17.47	17.47	18.05	18.6
SG&A Margin	11.83	12.17	12.36	13.31	14.15
EBITDA Margin %	6.88	6.74	6.85	6.55	6.3
EBITA Margin %	6.36	6.2	6.28	5.92	5.58
EBIT Margin %	6.07	5.9	5.95	5.57	5.23
Income From Continuing Operations Margin %	4.36	4.17	4.13	3.88	3.56
Net Income Margin %	4.36	4.17	4.13	3.89	3.58
Net Avail. For Common Margin %	4.36	4.17	4.13	3.89	3.58
Normalized Net Income Margin	3.73	3.63	3.64	3.43	3.18
Levered Free Cash Flow Margin	3.5	0.03	4.8	6.5	2.25
Unlevered Free Cash Flow Margin	3.58	0.1	4.95	6.72	2.51
Asset Turnover
Asset Turnover	1.86	1.86	1.77	1.57	1.46
Fixed Assets Turnover	16.1	17.73	16.52	13.86	13.16
Receivables Turnover (Average Receivables)	5.7	5.45	5.11	4.98	4.47
Inventory Turnover (Average Inventory)	10.76	8.87	10.12	12.22	13.74
Short Term Liquidity
Current Ratio	1.74	1.61	1.86	1.64	1.55
Quick Ratio	1.3	1.19	1.51	1.39	1.31
Operating Cash Flow to Current Liabilities	0.24	0.08	0.36	0.35	0.17
Days Sales Outstanding (Average Receivables)	64.07	67.02	71.45	73.54	81.67
Days Outstanding Inventory (Average Inventory)	33.94	41.14	36.06	29.94	26.56
Average Days Payable Outstanding	41.25	46.96	47.22	52.49	62.43
Cash Conversion Cycle (Average Days)	56.76	61.21	60.29	50.99	45.8
Long Term Solvency
Total Debt/Equity	36.16	34.01	42.12	42.41	35.22
Total Debt / Total Capital	26.55	25.38	29.64	29.78	26.05
LT Debt/Equity	30.38	23.42	37.9	29.7	28.39
Long-Term Debt / Total Capital	22.31	17.48	26.67	20.85	20.99
Total Liabilities / Total Assets	55.19	55.38	54.18	54.59	55.14
EBIT / Interest Expense	48.5	55.1	25.58	15.19	12.84
EBITDA / Interest Expense	61.76	70.41	33.24	20.48	18.02
(EBITDA - Capex) / Interest Expense	52.98	57.75	26.48	16.65	13.39
Total Debt / EBITDA	1.19	1.15	1.48	1.72	1.54
Net Debt / EBITDA	0.14	0.51	0.54	0.2	0.58
Total Debt / (EBITDA - Capex)	1.39	1.4	1.85	2.11	2.07
Net Debt / (EBITDA - Capex)	0.16	0.63	0.68	0.25	0.77
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.05	13.62	6.55	-1.82	1.59
Gross Profit, 1 Yr. Growth %	7.4	14.5	6.5	1.47	4.67
EBITDA, 1 Yr. Growth %	14.17	11.26	8.28	-6.09	-2.31
EBITA, 1 Yr. Growth %	15.21	10.72	8.03	-7.48	-4.31
EBIT, 1 Yr. Growth %	16.2	10.44	7.56	-8.1	-4.56
Earnings From Cont. Operations, 1 Yr. Growth %	20.2	8.5	5.73	-7.78	-6.75
Net Income, 1 Yr. Growth %	20.2	8.5	5.73	-7.54	-6.63
Normalized Net Income, 1 Yr. Growth %	16.96	10.7	6.84	-7.58	-5.92
Diluted EPS Before Extra, 1 Yr. Growth %	20.2	8.5	5.73	-7.54	-6.63
Accounts Receivable, 1 Yr. Growth %	5.76	31.23	0.16	6.04	19.8
Inventory, 1 Yr. Growth %	70.33	18.27	-27.63	-19.43	1.18
Net Property, Plant and Equip., 1 Yr. Growth %	3.64	2.76	25.55	10.2	4.13
Total Assets, 1 Yr. Growth %	12.38	14.18	10.31	10.89	8.47
Tangible Book Value, 1 Yr. Growth %	30.66	12.72	0.95	1.82	-1.39
Common Equity, 1 Yr. Growth %	16.44	13.69	13.28	9.69	7.22
Cash From Operations, 1 Yr. Growth %	-10.38	-59	293.51	21.59	-48.08
Capital Expenditures, 1 Yr. Growth %	-11.68	40.21	23.84	-12.37	36.49
Levered Free Cash Flow, 1 Yr. Growth %	-26.58	-98.89	14.87K	32.85	-64.74
Unlevered Free Cash Flow, 1 Yr. Growth %	-26.27	-96.79	5.12K	33.49	-62.09
Dividend Per Share, 1 Yr. Growth %	22.22	18.18	7.69	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-0.64	9.25	10.03	2.28	-0.13
Gross Profit, 2 Yr. CAGR %	9.46	10.89	10.43	3.96	3.06
EBITDA, 2 Yr. CAGR %	13.99	12.7	9.76	0.84	-4.22
EBITA, 2 Yr. CAGR %	15.09	12.94	9.37	-0.02	-5.91
EBIT, 2 Yr. CAGR %	15.47	13.28	8.99	-0.58	-6.35
Earnings From Cont. Operations, 2 Yr. CAGR %	16.52	14.2	7.11	-1.26	-7.27
Net Income, 2 Yr. CAGR %	16.52	14.2	7.11	-1.13	-7.09
Normalized Net Income, 2 Yr. CAGR %	15.75	13.79	8.75	-0.63	-6.75
Diluted EPS Before Extra, 2 Yr. CAGR %	16.52	14.2	7.11	-1.13	-7.09
Accounts Receivable, 2 Yr. CAGR %	3.31	17.81	14.65	1.89	12.71
Inventory, 2 Yr. CAGR %	34.14	41.93	-7.48	-21.21	-9.71
Net Property, Plant and Equip., 2 Yr. CAGR %	11.22	3.2	13.58	17.62	7.12
Total Assets, 2 Yr. CAGR %	12.3	13.27	12.22	10.6	9.67
Tangible Book Value, 2 Yr. CAGR %	25.53	21.36	6.67	1.47	0.24
Common Equity, 2 Yr. CAGR %	15.47	15.06	13.48	11.47	8.45
Cash From Operations, 2 Yr. CAGR %	23.68	-39.38	27.02	118.74	-20.55
Capital Expenditures, 2 Yr. CAGR %	9.48	11.28	31.77	4.18	9.37
Levered Free Cash Flow, 2 Yr. CAGR %	24.54	-90.98	28.81	1.31K	-31.56
Unlevered Free Cash Flow, 2 Yr. CAGR %	23.91	-84.63	29.31	734.39	-28.86
Dividend Per Share, 2 Yr. CAGR %	17.26	20.18	12.82	3.77	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	7.06	3.9	8.34	5.93	2.05
Gross Profit, 3 Yr. CAGR %	12.69	11.12	9.41	7.36	4.19
EBITDA, 3 Yr. CAGR %	17.42	13.07	11.21	4.2	-0.22
EBITA, 3 Yr. CAGR %	18.65	13.62	11.28	3.44	-1.47
EBIT, 3 Yr. CAGR %	18.16	13.77	11.34	2.97	-1.92
Earnings From Cont. Operations, 3 Yr. CAGR %	19.06	13.78	11.31	1.89	-3.12
Net Income, 3 Yr. CAGR %	19.06	13.78	11.31	1.98	-3
Normalized Net Income, 3 Yr. CAGR %	17.89	14.04	11.42	3.01	-2.42
Diluted EPS Before Extra, 3 Yr. CAGR %	19.06	13.78	11.31	1.98	-3
Accounts Receivable, 3 Yr. CAGR %	8.28	11.89	11.61	10.85	7.54
Inventory, 3 Yr. CAGR %	22.38	28.62	13.39	-9.79	-14.36
Net Property, Plant and Equip., 3 Yr. CAGR %	30.86	8.32	10.17	12.44	12.94
Total Assets, 3 Yr. CAGR %	14.21	12.92	12.28	11.78	9.88
Tangible Book Value, 3 Yr. CAGR %	23.54	21.1	14.14	5.09	0.54
Common Equity, 3 Yr. CAGR %	15.28	14.87	14.46	12.2	10.04
Cash From Operations, 3 Yr. CAGR %	26.5	-14.4	13.08	25.19	35.43
Capital Expenditures, 3 Yr. CAGR %	1.08	18.89	15.32	15.02	13.99
Levered Free Cash Flow, 3 Yr. CAGR %	93.98	-74.19	6.8	30.14	312.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	90.58	-63.35	7.22	30.69	197.73
Dividend Per Share, 3 Yr. CAGR %	18.17	17.57	15.87	8.37	2.5
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.39	11.05	8.24	3.25	4.87
Gross Profit, 5 Yr. CAGR %	13.75	14.14	11.78	8.19	6.82
EBITDA, 5 Yr. CAGR %	16.81	16.5	14.3	8.01	4.76
EBITA, 5 Yr. CAGR %	17.72	17.31	14.85	7.95	4.06
EBIT, 5 Yr. CAGR %	17.44	16.69	14.4	7.8	3.9
Earnings From Cont. Operations, 5 Yr. CAGR %	17.49	17	14.13	7.51	3.47
Net Income, 5 Yr. CAGR %	17.49	17	14.13	7.57	3.55
Normalized Net Income, 5 Yr. CAGR %	16.89	16.57	14.15	7.93	3.76
Diluted EPS Before Extra, 5 Yr. CAGR %	17.49	17	14.13	7.57	3.55
Accounts Receivable, 5 Yr. CAGR %	13.77	16.64	10.78	7.77	11.54
Inventory, 5 Yr. CAGR %	23.25	23.52	9.43	5.72	4.82
Net Property, Plant and Equip., 5 Yr. CAGR %	26.28	21.25	23.65	11.95	8.94
Total Assets, 5 Yr. CAGR %	18.93	19.02	13.41	11.98	11.23
Tangible Book Value, 5 Yr. CAGR %	11.02	10.58	16.49	12.83	8.4
Common Equity, 5 Yr. CAGR %	14.28	14.63	14.56	13.5	12.02
Cash From Operations, 5 Yr. CAGR %	39.75	16.54	26.71	24.58	-1.81
Capital Expenditures, 5 Yr. CAGR %	7.87	3.99	12.39	12.77	12.9
Levered Free Cash Flow, 5 Yr. CAGR %	99.05	-24.88	64.67	27.87	-10.61
Unlevered Free Cash Flow, 5 Yr. CAGR %	112.47	-2.74	63.19	27.93	-9.01
Dividend Per Share, 5 Yr. CAGR %	17.08	16.72	16	11.84	9.24