Cash flow NEURONES

Stocks

NRO

FR0004050250

IT Services & Consulting

Market Closed - Euronext Paris 11:55:00 2026-08-31 EDT			5-day change	1st Jan Change
36.80 ^EUR	-0.14%		-3.54%	-14.52%

08-05	Neurones posts strong growth
08-05	NEURONES Raises Earnings Guidance for the Full Year 2026	CI

6a94f8675ca3438812583a083044.G8nF6lFZdV7rZg80WJyFiC3DKbiPmThNOm3NWWrH-pg.XviNowRvFDy9X2twLbH2zU6zQfW91UwMTRWJYBOQgMdKgKOnHj0gPIAtXg

Published financial data: NEURONES

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Revenues	580M	665M	741M	810M	857M
Total Revenues	580M	665M	741M	810M	857M
Cost of Goods Sold, Total	323M	356M	394M	422M	439M
Gross Profit	257M	309M	347M	389M	418M
Selling General & Admin Expenses, Total	175M	215M	249M	287M	316M
Depreciation & Amortization - (IS)	14.8M	8.06M	7.88M	8.11M	8.1M
Amortization of Goodwill and Intangible Assets - (IS)	-	7.35M	8.02M	9.09M	9.88M
Other Operating Expenses	5.38M	6.49M	7.58M	6.62M	8.82M
Other Operating Expenses, Total	195M	237M	272M	311M	343M
Operating Income	61.64M	72.22M	74.69M	77.83M	75.58M
Interest Expense, Total	-966K	-1.7M	-1.43M	-1.82M	-1.76M
Interest And Investment Income	1.15M	1.66M	5.92M	11.84M	10.88M
Net Interest Expenses	184K	-42K	4.48M	10.03M	9.11M
Other Non Operating Income (Expenses)	-	-21K	-	1K	233K
EBT, Excl. Unusual Items	61.83M	72.16M	79.18M	87.86M	84.93M
Gain (Loss) On Sale Of Investments	2K	32K	425K	163K	143K
Gain (Loss) On Sale Of Assets	-299K	62K	834K	25K	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	228K	609K	331K	66K	2K
EBT, Incl. Unusual Items	61.76M	72.86M	80.76M	88.11M	85.07M
Income Tax Expense	18.82M	21.09M	22.18M	24.88M	23.22M
Earnings From Continuing Operations	42.94M	51.77M	58.58M	63.23M	61.86M
Net Income to Company	42.94M	51.77M	58.58M	63.23M	61.86M
Minority Interest	-5.23M	-7.53M	-9.17M	-10.67M	-9.78M
Net Income - (IS)	37.71M	44.24M	49.41M	52.56M	52.07M
Net Income to Common Incl Extra Items	37.71M	44.24M	49.41M	52.56M	52.07M
Net Income to Common Excl. Extra Items	37.71M	44.24M	49.41M	52.56M	52.07M
Per Share Items
Net EPS - Basic	1.56	1.83	2.04	2.17	2.14
Basic EPS - Continuing Operations	1.56	1.83	2.04	2.17	2.14
Basic Weighted Average Shares Outstanding	24.22M	24.22M	24.24M	24.27M	24.3M
Net EPS - Diluted	1.55	1.82	2.03	2.16	2.14
Diluted EPS - Continuing Operations	1.55	1.82	2.03	2.16	2.14
Diluted Weighted Average Shares Outstanding	24.25M	24.29M	24.31M	24.35M	24.38M
Normalized Basic EPS	1.38	1.55	1.66	1.82	1.78
Normalized Diluted EPS	1.38	1.55	1.66	1.82	1.78
Dividend Per Share	1	1.1	1.2	1.3	1.4
Payout Ratio	-	54.75	53.93	55.42	60.73
Supplemental Items
EBITDA	69.42M	79.57M	82.72M	86.92M	87.03M
EBITA	62.71M	73.11M	75.59M	78.51M	76.35M
EBIT	61.64M	72.22M	74.69M	77.83M	75.58M
EBITDAR	72.13M	82.5M	86.8M	91.81M	92.67M
Total Revenues (As Reported)	580M	665M	741M	810M	857M
Effective Tax Rate - (Ratio)	30.47	28.95	27.47	28.24	27.29
Total Current Taxes	19.76M	22.21M	22.76M	25.62M	22.66M
Total Deferred Taxes	-937K	-1.12M	-575K	-736K	560K
Normalized Net Income	33.41M	37.57M	40.31M	44.24M	43.3M
Interest on Long-Term Debt	749K	814K	971K	907K	870K
Non-Cash Pension Expense	404K	979K	583K	1.07M	1.32M
Supplemental Operating Expense Items
Net Rental Expense, Total	2.71M	2.92M	4.09M	4.89M	5.64M
Imputed Operating Lease Interest Expense	602K	1.12M	1.18M	1.65M	1.59M
Imputed Operating Lease Depreciation	2.11M	1.81M	2.91M	3.23M	4.05M
Stock-Based Comp., COGS (Total)	2.58M	4.15M	5.6M	6.18M	6.55M
Total Stock-Based Compensation	2.58M	4.15M	5.6M	6.18M	6.55M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Cash And Equivalents	265M	272M	298M	326M	341M
Total Cash And Short Term Investments	265M	272M	298M	326M	341M
Accounts Receivable, Total	165M	193M	207M	215M	217M
Other Receivables	24.16M	31.93M	28.61M	28.64M	32.67M
Total Receivables	189M	225M	235M	243M	250M
Inventory	887K	353K	709K	267K	18K
Prepaid Expenses	8.83M	9.58M	12.04M	18M	18.13M
Total Current Assets	464M	507M	546M	588M	609M
Gross Property Plant And Equipment	116M	131M	155M	165M	174M
Accumulated Depreciation	-69.89M	-81.07M	-96M	-105M	-114M
Net Property Plant And Equipment	46.1M	49.8M	58.72M	60.53M	59.37M
Long-term Investments	3.22M	3.44M	4.15M	4.77M	4.48M
Goodwill	44.41M	45.02M	51.38M	56.24M	60.93M
Other Intangibles, Total	1.44M	1.05M	1.48M	1.95M	1.77M
Loans Receivable Long-Term	5.06M	6.08M	6.61M	7.2M	7.69M
Deferred Tax Assets Long-Term	3.45M	5.28M	6.1M	6.9M	6.26M
Total Assets	568M	617M	674M	726M	749M
Liabilities
Accounts Payable, Total	37.73M	42.93M	44.04M	58.33M	69.65M
Accrued Expenses, Total	97.36M	106M	116M	119M	120M
Short-term Borrowings	205K	152K	5.84M	4.92M	13.31M
Current Portion of Leases	7.29M	8.01M	7.22M	7.61M	7.59M
Current Income Taxes Payable	5.6M	7.99M	3.48M	3.58M	875K
Unearned Revenue Current, Total	19.7M	21.43M	24.18M	27.43M	28.58M
Other Current Liabilities	16.67M	20.59M	27.72M	31.55M	10.23M
Total Current Liabilities	185M	207M	229M	253M	250M
Long-Term Debt	204K	110K	1.51M	2.05M	760K
Long-Term Leases	27.62M	27.83M	29.42M	27.44M	25.26M
Pension & Other Post Retirement Benefits	2.52M	6.13M	6.5M	7.37M	8.09M
Deferred Tax Liability Non Current	-	-	-	-	-
Total Liabilities	215M	241M	266M	290M	284M
Common Stock, Total	9.69M	9.69M	9.71M	9.71M	9.73M
Additional Paid In Capital	31.4M	31.4M	31.38M	16.28M	16.26M
Retained Earnings	37.71M	44.24M	49.41M	52.56M	52.07M
Treasury Stock	-261K	-185K	-448K	-201K	-1.13M
Comprehensive Income and Other	233M	246M	264M	300M	323M
Total Common Equity	312M	331M	354M	378M	400M
Minority Interest	41.36M	45M	53.52M	58.07M	64.89M
Total Equity	353M	376M	408M	436M	465M
Total Liabilities And Equity	568M	617M	674M	726M	749M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	24.22M	24.22M	24.27M	24.27M	24.32M
ECS Total Common Shares Outstanding	24.22M	24.22M	24.27M	24.27M	24.32M
Book Value / Share	12.86	13.67	14.6	15.58	16.45
Tangible Book Value	266M	285M	302M	320M	337M
Tangible Book Value Per Share	10.97	11.77	12.42	13.18	13.87
Total Debt	35.32M	36.1M	43.98M	42.02M	46.92M
Net Debt	-230M	-236M	-254M	-284M	-294M
Debt Equivalent Oper. Leases	21.66M	23.38M	32.69M	39.1M	45.15M
Minority Interest, Total (Incl. Fin. Div)	41.36M	45M	53.52M	58.07M	64.89M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	890K	381K	857K	295K	46K
Land - (BS)	104K	104K	104K	686K	686K
Machinery, Total	66.63M	74.49M	88.59M	95.9M	105M
Full Time Employees	5.87K	6.41K	6.75K	7.09K	6.99K
Part Time Employees	-	-	-	-	219
Accumulated Allowance for Doubtful Accounts (Supple)	1.4M	1.56M	972K	1.04M	1.94M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	37.71M	44.24M	49.41M	52.56M	52.07M
Depreciation & Amortization - CF	13.87M	14.51M	15M	16.52M	18.78M
Amortization of Goodwill and Intangible Assets - (CF)	1.06M	892K	897K	684K	773K
Depreciation & Amortization, Total	14.94M	15.41M	15.9M	17.2M	19.55M
(Gain) Loss From Sale Of Asset	-22K	-642K	-346K	-91K	239K
(Gain) Loss on Sale of Investments - (CF)	93K	-30K	-819K	-	-
Stock-Based Compensation (CF)	1.99M	3.36M	4.39M	5.11M	4.21M
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	7.75M	5.82M	2.14M	1.14M	-4.15M
Change in Other Net Operating Assets	2.04M	-13.19M	1.39M	8.46M	-643K
Cash from Operations	64.5M	54.97M	72.08M	84.38M	71.28M
Capital Expenditure	-6.58M	-10.6M	-17.98M	-12.04M	-10.44M
Sale of Property, Plant, and Equipment	156K	56K	77K	260K	93K
Cash Acquisitions	-5.08M	-2.62M	-4.61M	-7.98M	-11.63M
Divestitures	1.48M	2.31M	2.17M	1.53M	1.55M
Investment in Marketable and Equity Securities, Total	-601K	-1.39M	-1.22M	-1.47M	-732K
Cash from Investing	-10.62M	-12.26M	-21.57M	-19.69M	-21.16M
Long-Term Debt Issued, Total	15K	68K	6.39M	5.11M	2.49M
Total Debt Issued	15K	68K	6.39M	5.11M	2.49M
Long-Term Debt Repaid, Total	-6.62M	-7.14M	-9.98M	-12.44M	-13.72M
Total Debt Repaid	-6.62M	-7.14M	-9.98M	-12.44M	-13.72M
Issuance of Common Stock	89K	-	57K	-	-
Repurchase of Common Stock	-	-107K	-	-28K	-316K
Common Dividends Paid	-	-24.22M	-26.65M	-29.13M	-31.62M
Common & Preferred Stock Dividends Paid	-	-24.22M	-26.65M	-29.13M	-31.62M
Special Dividend Paid	-48.42M	-	-	-	-
Other Financing Activities, Total	-486K	-4.67M	3.12M	2.01M	7.56M
Cash from Financing	-55.42M	-36.08M	-27.06M	-34.48M	-35.62M
Foreign Exchange Rate Adjustments	130K	252K	34K	357K	-279K
Net Change in Cash	-1.42M	6.89M	23.48M	30.57M	14.23M
Supplemental Items
Cash Interest Paid	217K	889K	463K	912K	893K
Cash Income Tax Paid (Refund)	16.16M	24.13M	25.35M	24.81M	27.84M
Levered Free Cash Flow	54.94M	39.34M	52.69M	69.54M	55.59M
Unlevered Free Cash Flow	55.55M	40.4M	53.59M	70.68M	56.69M
Change In Net Working Capital	-6.09M	13.68M	-3.39M	-10.69M	6.21M
Net Debt Issued / Repaid	-6.6M	-7.07M	-3.59M	-7.33M	-11.23M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	6.89	7.62	7.23	6.94	6.41
Return on Total Capital	9.86	11.28	10.82	10.44	9.44
Return On Equity %	12.06	14.2	14.95	14.95	13.73
Return on Common Equity	11.89	13.77	14.43	14.32	13.38
Margin Analysis
Gross Profit Margin %	44.25	46.46	46.78	47.97	48.81
SG&A Margin	30.13	32.31	33.54	35.43	36.86
EBITDA Margin %	11.97	11.96	11.16	10.73	10.15
EBITA Margin %	10.81	10.99	10.2	9.69	8.91
EBIT Margin %	10.63	10.85	10.08	9.6	8.82
Income From Continuing Operations Margin %	7.4	7.78	7.9	7.8	7.22
Net Income Margin %	6.5	6.65	6.67	6.49	6.07
Net Avail. For Common Margin %	6.5	6.65	6.67	6.49	6.07
Normalized Net Income Margin	5.76	5.65	5.44	5.46	5.05
Levered Free Cash Flow Margin	9.48	5.91	7.11	8.58	6.48
Unlevered Free Cash Flow Margin	9.58	6.07	7.23	8.72	6.61
Asset Turnover
Asset Turnover	1.04	1.12	1.15	1.16	1.16
Fixed Assets Turnover	12.5	13.88	13.79	13.59	14.3
Receivables Turnover (Average Receivables)	3.66	3.72	3.72	3.84	3.96
Inventory Turnover (Average Inventory)	424.84	574.62	742.79	863.92	3.08K
Short Term Liquidity
Current Ratio	2.51	2.45	2.38	2.33	2.43
Quick Ratio	2.46	2.4	2.33	2.26	2.36
Operating Cash Flow to Current Liabilities	0.35	0.27	0.31	0.33	0.29
Days Sales Outstanding (Average Receivables)	99.65	98	98.23	95.39	92.12
Days Outstanding Inventory (Average Inventory)	0.86	0.64	0.49	0.42	0.12
Average Days Payable Outstanding	39.7	41.38	40.2	44.48	56.96
Cash Conversion Cycle (Average Days)	60.81	57.25	58.52	51.32	35.28
Long Term Solvency
Total Debt/Equity	10.01	9.6	10.78	9.63	10.09
Total Debt / Total Capital	9.1	8.76	9.73	8.79	9.17
LT Debt/Equity	7.88	7.43	7.58	6.76	5.6
Long-Term Debt / Total Capital	7.17	6.78	6.84	6.17	5.08
Total Liabilities / Total Assets	37.85	39.07	39.5	39.9	37.94
EBIT / Interest Expense	63.81	42.41	52.09	42.79	42.87
EBITDA / Interest Expense	79.28	51.46	63.17	52.24	53.96
(EBITDA - Capex) / Interest Expense	72.46	45.23	50.63	45.63	48.04
Total Debt / EBITDA	0.46	0.41	0.49	0.44	0.49
Net Debt / EBITDA	-3	-2.69	-2.8	-2.99	-3.09
Total Debt / (EBITDA - Capex)	0.5	0.47	0.61	0.51	0.55
Net Debt / (EBITDA - Capex)	-3.28	-3.06	-3.5	-3.43	-3.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.56	14.74	11.39	9.33	5.78
Gross Profit, 1 Yr. Growth %	12.39	20.48	12.18	12.11	7.62
EBITDA, 1 Yr. Growth %	16.11	14.62	3.95	5.08	-0.39
EBITA, 1 Yr. Growth %	19.31	16.59	3.41	3.87	-2.75
EBIT, 1 Yr. Growth %	18.81	17.16	3.42	4.2	-2.89
Earnings From Cont. Operations, 1 Yr. Growth %	22.74	20.57	13.16	7.93	-2.17
Net Income, 1 Yr. Growth %	21.95	17.34	11.68	6.37	-0.92
Normalized Net Income, 1 Yr. Growth %	18.34	12.46	7.3	9.74	-2.13
Diluted EPS Before Extra, 1 Yr. Growth %	22.05	17.42	11.54	6.4	-0.93
Accounts Receivable, 1 Yr. Growth %	8.91	17.02	7.52	3.39	0.55
Inventory, 1 Yr. Growth %	39.68	-60.2	100.85	-62.34	-93.26
Net Property, Plant and Equip., 1 Yr. Growth %	-1.16	8.01	20.4	3.07	-1.91
Total Assets, 1 Yr. Growth %	3.27	8.7	9.42	7.33	3.22
Tangible Book Value, 1 Yr. Growth %	-4.76	7.26	5.98	6.27	5.43
Common Equity, 1 Yr. Growth %	-3.43	6.26	7.2	6.28	5.79
Cash From Operations, 1 Yr. Growth %	-4.15	-14.77	31.12	17.08	-15.52
Capital Expenditures, 1 Yr. Growth %	-8.52	61.19	69.56	-33.06	-13.28
Levered Free Cash Flow, 1 Yr. Growth %	-6.54	-28.4	33.94	31.97	-5.96
Unlevered Free Cash Flow, 1 Yr. Growth %	-6.53	-27.26	32.63	31.89	-5.9
Dividend Per Share, 1 Yr. Growth %	-	10	9.09	8.33	7.69
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.62	12.63	13.06	10.36	7.54
Gross Profit, 2 Yr. CAGR %	8.85	16.36	16.25	12.14	9.84
EBITDA, 2 Yr. CAGR %	10.38	15.36	9.15	4.52	2.57
EBITA, 2 Yr. CAGR %	12.42	17.94	9.79	3.64	0.5
EBIT, 2 Yr. CAGR %	12.09	17.98	10.08	3.81	0.59
Earnings From Cont. Operations, 2 Yr. CAGR %	10.52	21.65	16.8	10.51	2.76
Net Income, 2 Yr. CAGR %	10.65	19.62	14.47	8.99	2.66
Normalized Net Income, 2 Yr. CAGR %	12.58	15.36	9.85	8.51	3.63
Diluted EPS Before Extra, 2 Yr. CAGR %	10.55	19.71	14.44	8.94	2.67
Accounts Receivable, 2 Yr. CAGR %	2.06	12.74	12.05	5.69	2.2
Inventory, 2 Yr. CAGR %	51.79	-25.44	-10.6	-13.03	-84.07
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.11	3.33	12.86	11.4	0.55
Total Assets, 2 Yr. CAGR %	5.5	5.95	8.97	8.52	5.26
Tangible Book Value, 2 Yr. CAGR %	1.71	1.07	6.53	6.04	5.85
Common Equity, 2 Yr. CAGR %	2.39	1.3	6.65	6.95	6.03
Cash From Operations, 2 Yr. CAGR %	2.56	-9.62	5.71	23.9	-0.55
Capital Expenditures, 2 Yr. CAGR %	-8.67	21.43	65.33	6.54	-23.81
Levered Free Cash Flow, 2 Yr. CAGR %	4.34	-18.2	-2.07	32.95	2.71
Unlevered Free Cash Flow, 2 Yr. CAGR %	4.05	-17.54	-1.78	32.26	2.85
Dividend Per Share, 2 Yr. CAGR %	123.61	-	9.54	8.71	8.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.77	9.26	12.22	11.8	8.81
Gross Profit, 3 Yr. CAGR %	9.03	12.6	14.95	14.86	10.61
EBITDA, 3 Yr. CAGR %	8.93	11.77	11.43	7.78	3.03
EBITA, 3 Yr. CAGR %	10.4	13.79	12.88	7.78	1.46
EBIT, 3 Yr. CAGR %	10.4	13.75	12.91	8.08	1.53
Earnings From Cont. Operations, 3 Yr. CAGR %	13.23	13.77	18.75	13.77	6.11
Net Income, 3 Yr. CAGR %	13.25	12.83	16.91	11.7	5.58
Normalized Net Income, 3 Yr. CAGR %	8.68	12.54	12.61	9.81	4.84
Diluted EPS Before Extra, 3 Yr. CAGR %	13.16	12.79	16.92	11.7	5.55
Accounts Receivable, 3 Yr. CAGR %	-0.99	6.73	10.9	9.26	4.11
Inventory, 3 Yr. CAGR %	47.22	-2.85	3.74	-32.98	-62.92
Net Property, Plant and Equip., 3 Yr. CAGR %	41.68	1.84	7.98	9.5	6.77
Total Assets, 3 Yr. CAGR %	8.14	6.56	7.03	8.52	6.72
Tangible Book Value, 3 Yr. CAGR %	5.51	3.53	2.62	6.38	5.84
Common Equity, 3 Yr. CAGR %	5.3	3.67	3.18	6.67	6.56
Cash From Operations, 3 Yr. CAGR %	27.58	-3.58	2.32	9.37	9.05
Capital Expenditures, 3 Yr. CAGR %	-1.81	10.37	35.73	22.31	-0.53
Levered Free Cash Flow, 3 Yr. CAGR %	31.35	-7.96	-3.58	8.17	12.21
Unlevered Free Cash Flow, 3 Yr. CAGR %	31.22	-7.65	-3.39	8.36	11.95
Dividend Per Share, 3 Yr. CAGR %	155.44	76.52	-	9.14	8.37
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.35	6.53	8.63	9.7	10.32
Gross Profit, 5 Yr. CAGR %	9.07	10.68	11.86	12.42	12.88
EBITDA, 5 Yr. CAGR %	6.59	8.58	9.02	8.81	7.8
EBITA, 5 Yr. CAGR %	7.23	9.95	10.16	9.61	7.75
EBIT, 5 Yr. CAGR %	7.61	10.26	10.27	9.67	7.81
Earnings From Cont. Operations, 5 Yr. CAGR %	8.15	10.37	14.65	12.46	12.07
Net Income, 5 Yr. CAGR %	8.39	10.13	13.74	11.28	10.99
Normalized Net Income, 5 Yr. CAGR %	6.56	8.41	9.15	10.91	8.93
Diluted EPS Before Extra, 5 Yr. CAGR %	8.32	10.2	13.67	11.23	11
Accounts Receivable, 5 Yr. CAGR %	2.6	4.14	3.98	6.26	7.43
Inventory, 5 Yr. CAGR %	29.35	-16.9	20.59	-7.06	-50.97
Net Property, Plant and Equip., 5 Yr. CAGR %	26.04	25.13	29.36	5.12	4.94
Total Assets, 5 Yr. CAGR %	8.05	8.44	8.47	7.3	6.38
Tangible Book Value, 5 Yr. CAGR %	9.02	7.17	5.91	4.49	3.87
Common Equity, 5 Yr. CAGR %	7.5	6.38	5.84	4.94	4.39
Cash From Operations, 5 Yr. CAGR %	25.04	18.76	18.33	6.59	1.16
Capital Expenditures, 5 Yr. CAGR %	-5.11	3.44	20.94	8.82	7.73
Levered Free Cash Flow, 5 Yr. CAGR %	30.34	26.9	16.8	6.62	-1.11
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.24	27.21	16.86	6.62	-0.94
Dividend Per Share, 5 Yr. CAGR %	75.54	78.92	82.06	45.41	-