Balance Sheet Dassault Aviation

Equities

AM

FR0014004L86

Aerospace & Defense

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Published financial data: DASSAULT AVIATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.37B	5.49B	7.25B	6.95B	4.8B
Other Revenues, Total	5.71M	7.02M	6.61M	117M	159M
Total Revenues	7.38B	5.5B	7.25B	7.07B	4.96B
Cost of Goods Sold, Total	5.04B	3.97B	4.86B	4.83B	3B
Gross Profit	2.33B	1.53B	2.39B	2.24B	1.96B
Selling General & Admin Expenses, Total	1.3B	1.21B	1.28B	1.4B	1.47B
Depreciation & Amortization - (IS)	142M	157M	152M	175M	174M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	92.86M	-126M	427M	66.26M	-16.19M
Other Operating Expenses, Total	1.54B	1.24B	1.86B	1.64B	1.63B
Operating Income	795M	291M	535M	598M	337M
Interest Expense, Total	-75.11M	-41.74M	-3.94M	-4.13M	-7.09M
Interest And Investment Income	22M	9.77M	7.5M	14.51M	49.91M
Net Interest Expenses	-53.11M	-31.97M	3.56M	10.38M	42.82M
Income (Loss) On Equity Invest.	259M	121M	272M	282M	267M
Currency Exchange Gains (Loss)	-41.26M	27.44M	-34.55M	-29.03M	13.08M
Other Non Operating Income (Expenses)	-	-	-25.76M	-855K	-58.54M
EBT, Excl. Unusual Items	959M	408M	750M	861M	601M
Gain (Loss) On Sale Of Investments	1.31M	-448K	-3.08M	2.63M	222M
Gain (Loss) On Sale Of Assets	-415K	-24.84M	-2.91M	-2.28M	2.8M
Asset Writedown	-486K	-3.27M	3.85M	683K	2.11M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	959M	380M	748M	862M	828M
Income Tax Expense	247M	76.9M	143M	146M	134M
Earnings From Continuing Operations	713M	303M	605M	716M	693M
Net Income to Company	713M	303M	605M	716M	693M
Minority Interest	-18K	-	-	-	-
Net Income - (IS)	713M	303M	605M	716M	693M
Net Income to Common Incl Extra Items	713M	303M	605M	716M	693M
Net Income to Common Excl. Extra Items	713M	303M	605M	716M	693M
Per Share Items
Net EPS - Basic	8.57	3.64	7.28	8.62	8.57
Basic EPS - Continuing Operations	8.57	3.64	7.28	8.62	8.57
Basic Weighted Average Shares Outstanding	83.13M	83.15M	83.17M	83.12M	80.93M
Net EPS - Diluted	8.57	3.64	7.28	8.62	8.57
Diluted EPS - Continuing Operations	8.57	3.64	7.28	8.62	8.57
Diluted Weighted Average Shares Outstanding	83.14M	83.16M	83.19M	83.13M	80.95M
Normalized Basic EPS	7.21	3.07	5.64	6.48	4.64
Normalized Diluted EPS	7.21	3.07	5.64	6.47	4.64
Dividend Per Share	-	1.23	2.49	3	3.37
Payout Ratio	24.73	-	16.9	28.93	35.42
Supplemental Items
EBITDA	885M	390M	653M	737M	476M
EBITA	807M	305M	553M	622M	361M
EBIT	795M	291M	535M	598M	337M
Effective Tax Rate - (Ratio)	25.7	20.26	19.08	16.93	16.22
Total Current Taxes	248M	5.88M	192M	178M	106M
Total Deferred Taxes	-1.43M	71.02M	-49.07M	-32.05M	28.27M
Normalized Net Income	599M	255M	469M	538M	376M
Interest on Long-Term Debt	3.09M	-	-	-	-
Non-Cash Pension Expense	6.51M	5.07M	3.31M	3.72M	-46.64M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	527M	538M	551M	572M	483M
Stock-Based Comp., Other (Total)	2.07M	2.71M	2.32M	3.38M	5.52M
Total Stock-Based Compensation	2.07M	2.71M	2.32M	3.38M	5.52M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.53B	2.7B	4.02B	3.98B	1.46B
Short Term Investments	-	-	-	5.65B	5.91B
Trading Asset Securities, Total	1.43B	868M	955M	-	-
Total Cash And Short Term Investments	4.97B	3.56B	4.98B	9.63B	7.37B
Accounts Receivable, Total	677M	728M	1.17B	1.26B	867M
Other Receivables	304M	455M	388M	417M	479M
Total Receivables	981M	1.18B	1.56B	1.68B	1.35B
Inventory	3.37B	3.38B	3.48B	3.92B	5.26B
Prepaid Expenses	258M	-	-	104M	136M
Other Current Assets, Total	2.37B	2.05B	2.26B	2.96B	4.63B
Total Current Assets	11.94B	10.18B	12.27B	18.29B	18.74B
Gross Property Plant And Equipment	2.41B	2.44B	2.57B	2.71B	2.98B
Accumulated Depreciation	-1.59B	-1.31B	-1.43B	-1.51B	-1.56B
Net Property Plant And Equipment	819M	1.13B	1.14B	1.2B	1.41B
Long-term Investments	1.99B	1.89B	2.25B	2.49B	2.8B
Goodwill	77.45M	65.96M	65.96M	65.96M	65.96M
Other Intangibles, Total	32.6M	49.46M	56.78M	51.02M	45.85M
Loans Receivable Long-Term	22.78M	-	-	-	-
Deferred Tax Assets Long-Term	438M	335M	389M	393M	344M
Deferred Charges Long-Term	8.33M	6.77M	5.6M	3.71M	43.01M
Other Long-Term Assets, Total	35.8M	58.7M	38.2M	39.78M	38.07M
Total Assets	15.37B	13.71B	16.22B	22.54B	23.49B
Liabilities
Accounts Payable, Total	902M	824M	1.06B	1.12B	1.07B
Accrued Expenses, Total	829M	801M	1.17B	1.08B	492M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	288M	21.51M	12.42M	14.32M	22.88M
Current Portion of Leases	54.82M	27.91M	28.43M	28.64M	31.74M
Current Income Taxes Payable	1.06M	950K	3.15M	5.92M	6.89M
Unearned Revenue Current, Total	7.38B	6.23B	7.29B	12.76B	14.21B
Other Current Liabilities	1.25B	1.02B	1.15B	1.32B	1.7B
Total Current Liabilities	10.7B	8.93B	10.73B	16.34B	17.54B
Long-Term Debt	93.32M	101M	85.96M	83.63M	54.98M
Long-Term Leases	123M	120M	99.55M	107M	153M
Deferred Tax Liability Non Current	3.52M	5.44M	4.48M	2.98M	2.43M
Total Liabilities	10.92B	9.15B	10.92B	16.53B	17.75B
Common Stock, Total	66.79M	66.79M	66.79M	66.79M	64.64M
Additional Paid In Capital	4.43B	4.53B	5.32B	6.04B	5.96B
Treasury Stock	-34.89M	-32.75M	-30.39M	-80.86M	-295M
Comprehensive Income and Other	-17.58M	-5.1M	-53.11M	-18.35M	8.67M
Total Common Equity	4.45B	4.56B	5.3B	6.01B	5.74B
Minority Interest	151K	-	-	-	-
Total Equity	4.45B	4.56B	5.3B	6.01B	5.74B
Total Liabilities And Equity	15.37B	13.71B	16.22B	22.54B	23.49B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	83.13M	83.15M	83.18M	82.8M	79.02M
ECS Total Common Shares Outstanding	83.13M	83.15M	83.18M	82.8M	79.02M
Book Value / Share	53.48	54.84	63.73	72.53	72.66
Tangible Book Value	4.34B	4.44B	5.18B	5.89B	5.63B
Tangible Book Value Per Share	52.16	53.45	62.25	71.12	71.24
Total Debt	559M	270M	226M	234M	262M
Net Debt	-4.41B	-3.29B	-4.75B	-9.39B	-7.11B
Debt Equivalent of Unfunded Proj. Benefit Obligation	344M	335M	229M	71.79M	77.46M
Minority Interest, Total (Incl. Fin. Div)	151K	-	-	-	-
Equity Method Investments, Total	1.84B	1.75B	2.1B	2.35B	2.68B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	206M	240M	263M	331M	436M
Inventories - Work In Process, Total	3.6B	3.53B	3.61B	4.03B	5.29B
Land - (BS)	41.98M	137M	149M	155M	174M
Buildings, Total	649M	874M	988M	1.03B	1.1B
Machinery, Total	683M	690M	780M	784M	801M
Full Time Employees	12.76K	12.44K	12.37K	12.77K	13.53K
Accumulated Allowance for Doubtful Accounts (Supple)	81.26M	77.53M	75.38M	81.95M	70.62M
Order Backlog	17.8B	15.9B	20.76B	35.01B	38.51B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	713M	303M	605M	716M	693M
Depreciation & Amortization - CF	130M	144M	134M	151M	150M
Amortization of Goodwill and Intangible Assets - (CF)	12.43M	13.25M	17.9M	24.03M	24.26M
Depreciation & Amortization, Total	142M	157M	152M	175M	174M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	415K	24.84M	2.91M	2.28M	-2.8M
(Gain) Loss on Sale of Investments - (CF)	-1.72M	244K	3.08M	-2.63M	-28.07M
Asset Writedown & Restructuring Costs	14.75M	3.27M	3.85M	683K	-
(Income) Loss On Equity Investments - (CF)	-141M	-95.83M	-164M	-137M	-98.78M
Other Operating Activities, Total	68.68M	-91.96M	442M	1.78M	-91.38M
Change In Accounts Receivable	-112M	-168M	-1.01B	690M	275M
Change In Inventories	959M	567M	291M	-1.97B	-2.98B
Change In Accounts Payable	145M	-147M	273M	151M	-124M
Change in Unearned Revenues	-1.83B	-1.14B	1.05B	5.46B	1.46B
Change In Income Taxes	-23.1M	20.36M	12.9M	19.02M	46.44M
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	-66.23M	-565M	1.66B	5.11B	-673M
Capital Expenditure	-198M	-471M	-151M	-158M	-287M
Sale of Property, Plant, and Equipment	3.83M	1.87M	-	-	-
Cash Acquisitions	-106M	-13.26M	-3.57M	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-18.69M	-	-21.42M	-17.36M	-58.76M
Investment in Marketable and Equity Securities, Total	-5K	-752K	-90.63M	-4.71B	-567M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-4.75M	-	-	-	-
Other Investing Activities, Total	-2.08M	-1.7M	53.35M	2.38M	34.63M
Cash from Investing	-326M	-485M	-214M	-4.89B	-878M
Long-Term Debt Issued, Total	107M	117M	43.65M	21.76M	2.56M
Total Debt Issued	107M	117M	43.65M	21.76M	2.56M
Long-Term Debt Repaid, Total	-783M	-431M	-101M	-60.56M	-61.17M
Total Debt Repaid	-783M	-431M	-101M	-60.56M	-61.17M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-53.37M	-660M
Common Dividends Paid	-176M	-	-102M	-207M	-246M
Common & Preferred Stock Dividends Paid	-176M	-	-102M	-207M	-246M
Other Financing Activities, Total	1.78B	565M	-	-	-
Cash from Financing	928M	251M	-160M	-299M	-965M
Foreign Exchange Rate Adjustments	6.9M	-37.32M	36.62M	32.89M	-8.01M
Net Change in Cash	543M	-837M	1.33B	-42.02M	-2.52B
Supplemental Items
Cash Income Tax Paid (Refund)	248M	5.88M	192M	178M	102M
Levered Free Cash Flow	-209M	-1.28B	1.44B	4.61B	-1.47B
Unlevered Free Cash Flow	-163M	-1.25B	1.45B	4.62B	-1.47B
Change In Net Working Capital	587M	1.12B	-1.13B	-4.24B	1.51B
Net Debt Issued / Repaid	-676M	-314M	-57.23M	-38.8M	-58.61M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.06	1.25	2.24	1.93	0.92
Return on Total Capital	9.66	3.7	6.46	6.36	3.44
Return On Equity %	16.34	6.72	12.28	12.67	11.81
Return on Common Equity	16.34	6.72	12.28	12.67	11.81
Margin Analysis
Gross Profit Margin %	31.62	27.81	32.97	31.69	39.56
SG&A Margin	17.66	21.94	17.6	19.82	29.58
EBITDA Margin %	12	7.1	9	10.43	9.6
EBITA Margin %	10.94	5.54	7.63	8.81	7.28
EBIT Margin %	10.77	5.3	7.38	8.47	6.79
Income From Continuing Operations Margin %	9.66	5.51	8.35	10.13	13.97
Net Income Margin %	9.66	5.51	8.35	10.13	13.97
Net Avail. For Common Margin %	9.66	5.51	8.35	10.13	13.97
Normalized Net Income Margin	8.12	4.64	6.47	7.62	7.57
Levered Free Cash Flow Margin	-2.84	-23.26	19.92	65.27	-29.66
Unlevered Free Cash Flow Margin	-2.2	-22.78	19.95	65.31	-29.57
Asset Turnover
Asset Turnover	0.46	0.38	0.48	0.36	0.22
Fixed Assets Turnover	11.28	5.64	6.39	6.04	3.79
Receivables Turnover (Average Receivables)	12	7.82	7.64	5.71	4.51
Inventory Turnover (Average Inventory)	1.49	1.18	1.42	1.3	0.65
Short Term Liquidity
Current Ratio	1.12	1.14	1.14	1.12	1.07
Quick Ratio	0.56	0.53	0.61	0.69	0.5
Operating Cash Flow to Current Liabilities	-0.01	-0.06	0.16	0.31	-0.04
Days Sales Outstanding (Average Receivables)	30.42	46.8	47.8	63.93	80.93
Days Outstanding Inventory (Average Inventory)