Cash flow Stef

Stocks

STF

FR0000064271

Ground Freight & Logistics

Market Closed - Euronext Paris 11:55:00 2026-08-14 EDT			5-day change	1st Jan Change
133.60 ^EUR	+0.60%		-0.74%	+1.67%

07-24	French and Benelux stocks-Factors to watch	RE
07-23	Stef: solid activity in the 2nd quarter

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Published financial data: STEF

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	3.51B	4.26B	4.44B	4.8B	5.12B
Total Revenues	3.51B	4.26B	4.44B	4.8B	5.12B
Cost of Goods Sold, Total	3.1B	3.8B	3.94B	4.27B	4.58B
Gross Profit	407M	460M	501M	528M	540M
Depreciation & Amortization - (IS)	179M	196M	200M	241M	268M
Other Operating Expenses	53.84M	68.56M	49.3M	65.74M	101M
Other Operating Expenses, Total	232M	265M	249M	307M	369M
Operating Income	174M	195M	251M	221M	171M
Interest Expense, Total	-7.42M	-10.79M	-27.68M	-41.35M	-42.54M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-7.42M	-10.79M	-27.68M	-41.35M	-42.54M
Income (Loss) On Equity Invest.	8.17M	10.45M	9.71M	8.07M	7.01M
Currency Exchange Gains (Loss)	148K	318K	438K	-347K	230K
Other Non Operating Income (Expenses)	831K	780K	2M	1.86M	1.99M
EBT, Excl. Unusual Items	176M	196M	236M	189M	137M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	808K	-	-	-	-
Gain (Loss) On Sale Of Assets	631K	11.65M	1.93M	8.29M	5.83M
Asset Writedown	-	-3.06M	-53K	-425K	-3.5M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-21.9M	-	-	-	-
EBT, Incl. Unusual Items	156M	204M	238M	197M	140M
Income Tax Expense	45.85M	58.25M	62.8M	47.8M	55.35M
Earnings From Continuing Operations	110M	146M	175M	149M	84.37M
Earnings Of Discontinued Operations	-	-	16.88M	8.5M	-
Net Income to Company	110M	146M	192M	157M	84.37M
Minority Interest	195K	374K	19K	-79K	-117K
Net Income - (IS)	110M	146M	192M	157M	84.25M
Net Income to Common Incl Extra Items	110M	146M	192M	157M	84.25M
Net Income to Common Excl. Extra Items	110M	146M	175M	149M	84.25M
Per Share Items
Net EPS - Basic	8.88	11.79	15.42	12.57	6.68
Basic EPS - Continuing Operations	8.88	11.79	14.06	11.89	6.68
Basic Weighted Average Shares Outstanding	12.38M	12.41M	12.43M	12.51M	12.62M
Net EPS - Diluted	8.78	11.58	15.16	12.46	6.66
Diluted EPS - Continuing Operations	8.78	11.58	13.82	11.79	6.66
Diluted Weighted Average Shares Outstanding	12.53M	12.64M	12.64M	12.62M	12.66M
Normalized Basic EPS	8.91	9.88	11.85	9.42	6.79
Normalized Diluted EPS	8.8	9.71	11.66	9.34	6.78
Dividend Per Share	3	4	5.1	4.15	2.7
Payout Ratio	28.14	25.46	25.95	40.67	62.29
Supplemental Items
EBITDA	296M	327M	383M	399M	341M
EBITA	174M	195M	251M	221M	171M
EBIT	174M	195M	251M	221M	171M
EBITDAR	322M	360M	414M	436M	381M
Effective Tax Rate - (Ratio)	29.46	28.52	26.44	24.31	39.61
Total Current Taxes	46.48M	63.18M	54.23M	39.81M	52.16M
Total Deferred Taxes	-630K	-4.93M	8.57M	7.99M	3.19M
Normalized Net Income	110M	123M	147M	118M	85.75M
Interest on Long-Term Debt	1.83M	2.49M	3.47M	7.73M	8.7M
Non-Cash Pension Expense	109K	171K	109K	189K	450K
Supplemental Operating Expense Items
Net Rental Expense, Total	25.65M	32.36M	31.81M	36.88M	40.12M
Imputed Operating Lease Interest Expense	1.53M	2.54M	6M	9.33M	8.88M
Imputed Operating Lease Depreciation	24.13M	29.82M	25.81M	27.54M	31.24M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	92.24M	87.59M	144M	85.12M	116M
Total Cash And Short Term Investments	92.24M	87.59M	144M	85.12M	116M
Accounts Receivable, Total	613M	735M	713M	773M	833M
Other Receivables	124M	145M	141M	157M	158M
Total Receivables	737M	880M	854M	930M	991M
Inventory	86.23M	126M	126M	102M	122M
Prepaid Expenses	9.58M	14.96M	12.2M	16.05M	19.2M
Other Current Assets, Total	8.79M	9.25M	8.63M	10.77M	13.46M
Total Current Assets	934M	1.12B	1.14B	1.14B	1.26B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	1.62B	1.81B	1.92B	2.25B	2.37B
Long-term Investments	109M	102M	100M	112M	121M
Goodwill	282M	295M	317M	390M	455M
Other Intangibles, Total	15.08M	13.78M	15.48M	18.88M	16.98M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	10.84M	9.82M	8.23M	8.87M	15.19M
Other Long-Term Assets, Total	-	-1K	-	1K	-
Total Assets	2.98B	3.35B	3.51B	3.93B	4.24B
Liabilities
Accounts Payable, Total	558M	636M	616M	628M	663M
Accrued Expenses, Total	305M	331M	345M	372M	403M
Short-term Borrowings	368M	249M	305M	262M	247M
Current Portion of Long-Term Debt	58.4M	166M	209M	272M	284M
Current Portion of Leases	55.41M	55.56M	55.12M	72.88M	70.23M
Current Income Taxes Payable	5.96M	13.37M	1.89M	2.67M	2.13M
Unearned Revenue Current, Total	23.92M	24.68M	27.03M	27.89M	25.64M
Other Current Liabilities	36.92M	39.94M	50.36M	94.46M	69.38M
Total Current Liabilities	1.41B	1.52B	1.61B	1.73B	1.76B
Long-Term Debt	372M	512M	453M	569M	807M
Long-Term Leases	183M	178M	167M	250M	241M
Pension & Other Post Retirement Benefits	19.79M	10.56M	9.53M	17.16M	9.46M
Deferred Tax Liability Non Current	27.01M	30.15M	40.83M	52.7M	66M
Other Non Current Liabilities	49.31M	59.29M	43.82M	27.74M	35.16M
Total Liabilities	2.06B	2.31B	2.32B	2.65B	2.92B
Common Stock, Total	13M	13M	13M	12.85M	12.85M
Treasury Stock	-38.31M	-37.94M	-37.2M	-33.17M	-30.81M
Comprehensive Income and Other	938M	1.06B	1.21B	1.3B	1.33B
Total Common Equity	912M	1.04B	1.18B	1.28B	1.31B
Minority Interest	476K	124K	-1K	51K	264K
Total Equity	913M	1.04B	1.18B	1.28B	1.31B
Total Liabilities And Equity	2.98B	3.35B	3.51B	3.93B	4.24B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.39M	12.42M	12.43M	12.54M	12.65M
ECS Total Common Shares Outstanding	12.39M	12.42M	12.43M	12.54M	12.65M
Book Value / Share	73.65	83.7	95.32	101.87	103.69
Tangible Book Value	615M	731M	853M	868M	840M
Tangible Book Value Per Share	49.67	58.81	68.59	69.22	66.37
Total Debt	1.04B	1.16B	1.19B	1.43B	1.65B
Net Debt	945M	1.07B	1.05B	1.34B	1.53B
Debt Equivalent of Unfunded Proj. Benefit Obligation	19.79M	10.56M	9.53M	17.16M	9.46M
Debt Equivalent Oper. Leases	205M	259M	254M	295M	321M
Minority Interest, Total (Incl. Fin. Div)	476K	124K	-1K	51K	264K
Equity Method Investments, Total	65.34M	50.84M	63.04M	71.37M	73.77M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	59M	81.81M	77.15M	51.58M	60.55M
Inventories - Finished Goods, Total	27.28M	44.59M	48.43M	50.08M	61.81M
Inventories - Others	-	-	-	-	-
Land - (BS)	-	-	-	-	-
Machinery, Total	-	-	-	-	-
Full Time Employees	20.53K	21.72K	22.28K	23.1K	26.02K
Assets under Capital Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	11.17M	13.94M	14.11M	14.19M	16.32M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	110M	146M	192M	157M	84.25M
Depreciation & Amortization - CF	176M	193M	197M	266M	263M
Amortization of Goodwill and Intangible Assets - (CF)	45K	-107K	151K	54K	201K
Depreciation & Amortization, Total	176M	193M	197M	266M	263M
Amortization of Deferred Charges, Total - (CF)	2.82M	3.31M	3.36M	4.51M	4.43M
(Gain) Loss From Sale Of Asset	-799K	-8.59M	-1.88M	-7.87M	-2.34M
(Gain) Loss on Sale of Investments - (CF)	-209K	965K	-1.14M	-665K	1.01M
Asset Writedown & Restructuring Costs	-	568K	-	-	-
(Income) Loss On Equity Investments - (CF)	-8.17M	-10.45M	-9.71M	-8.07M	-7.01M
Provision and Write-off of Bad Debts	-	-	-	-	-
Net Cash From Discontinued Operations	-	-	-5.43M	-	-
Other Operating Activities, Total	29.13M	13.41M	-19.85M	-12.05M	-2.4M
Change In Accounts Receivable	-61.36M	-103M	21.42M	-6.26M	-62.61M
Change In Inventories	-2.55M	-39.03M	-4.29M	24.01M	-20.73M
Change In Accounts Payable	82.03M	64.4M	-25.28M	-26.86M	35.71M
Change In Income Taxes	12.66M	9.43M	-25.36M	-28.04M	-1.67M
Change in Other Net Operating Assets	28.95M	-7.21M	36.36M	35.4M	12.79M
Cash from Operations	368M	263M	357M	397M	305M
Capital Expenditure	-162M	-227M	-330M	-351M	-304M
Sale of Property, Plant, and Equipment	5.68M	17.24M	6.5M	7.34M	7.84M
Cash Acquisitions	-135M	-81.69M	77.41M	-98.91M	-74.34M
Divestitures	-	-	-	-	880K
Sale (Purchase) of Intangible assets	-3.43M	-2.61M	-5.77M	-4.04M	-2.98M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-2.75M	-4.36M	4.77M	-3.98M	-4.13M
Other Investing Activities, Total	2.41M	3.16M	2.1M	3.46M	5.1M
Cash from Investing	-295M	-295M	-245M	-447M	-372M
Long-Term Debt Issued, Total	208M	304M	176M	285M	446M
Total Debt Issued	208M	304M	176M	285M	446M
Short Term Debt Repaid, Total	-	-182M	-	-	-
Long-Term Debt Repaid, Total	-184M	-120M	-171M	-243M	-247M
Total Debt Repaid	-184M	-302M	-171M	-243M	-247M
Issuance of Common Stock	267K	28K	526K	547K	306K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-30.96M	-37.26M	-49.72M	-63.94M	-52.48M
Common & Preferred Stock Dividends Paid	-30.96M	-37.26M	-49.72M	-63.94M	-52.48M
Other Financing Activities, Total	1K	-	-144K	-	-
Cash from Financing	-6.68M	-34.71M	-43.95M	-20.81M	147M
Foreign Exchange Rate Adjustments	-	-865K	1.05M	973K	-1.26M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	66.42M	-67.23M	68.66M	-69.92M	79.43M
Supplemental Items
Cash Income Tax Paid (Refund)	-	51.74M	64.1M	35.02M	50.42M
Levered Free Cash Flow	154M	7.09M	30.28M	53.26M	-8.22M
Unlevered Free Cash Flow	159M	13.83M	47.58M	79.11M	18.37M
Change In Net Working Capital	-36.29M	74.79M	-26.28M	-26.13M	49.24M
Net Debt Issued / Repaid	24.01M	2.52M	5.39M	42.59M	200M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.88	3.85	4.58	3.71	2.61
Return on Total Capital	5.84	5.87	6.86	5.43	3.77
Return On Equity %	12.65	14.95	15.71	12.09	6.52
Return on Common Equity	12.68	15	15.71	12.08	6.51
Margin Analysis
Gross Profit Margin %	11.6	10.78	11.27	10.99	10.54
EBITDA Margin %	8.45	7.68	8.61	8.32	6.66
EBITA Margin %	4.97	4.57	5.66	4.59	3.34
EBIT Margin %	4.97	4.57	5.65	4.59	3.33
Income From Continuing Operations Margin %	3.13	3.42	3.93	3.1	1.65
Net Income Margin %	3.14	3.43	4.31	3.28	1.65
Net Avail. For Common Margin %	3.14	3.43	3.93	3.1	1.65
Normalized Net Income Margin	3.14	2.88	3.32	2.46	1.67
Levered Free Cash Flow Margin	4.39	0.17	0.68	1.11	-0.16
Unlevered Free Cash Flow Margin	4.53	0.32	1.07	1.65	0.36
Asset Turnover
Asset Turnover	1.25	1.35	1.3	1.29	1.25
Fixed Assets Turnover	2.23	2.47	2.38	2.3	2.22
Receivables Turnover (Average Receivables)	6.24	6.33	6.14	6.46	6.38
Inventory Turnover (Average Inventory)	37.04	35.79	31.3	37.62	40.9
Short Term Liquidity
Current Ratio	0.66	0.74	0.71	0.66	0.72
Quick Ratio	0.59	0.64	0.62	0.59	0.63
Operating Cash Flow to Current Liabilities	0.26	0.17	0.22	0.23	0.17
Days Sales Outstanding (Average Receivables)	58.47	57.69	59.49	56.65	57.24
Days Outstanding Inventory (Average Inventory)	9.85	10.2	11.66	9.73	8.92
Average Days Payable Outstanding	59.87	56.67	58	53.6	51.23
Cash Conversion Cycle (Average Days)	8.45	11.21	13.15	12.78	14.93
Long Term Solvency
Total Debt/Equity	113.62	111.57	100.35	111.6	125.74
Total Debt / Total Capital	53.19	52.73	50.09	52.74	55.7
LT Debt/Equity	60.78	66.3	52.3	64.14	79.92
Long-Term Debt / Total Capital	28.45	31.34	26.1	30.31	35.41
Total Liabilities / Total Assets	69.32	68.91	66.23	67.47	69.03
EBIT / Interest Expense	23.5	18.07	9.07	5.33	4.01
EBITDA / Interest Expense	47.18	35.96	16.18	11.76	10.2
(EBITDA - Capex) / Interest Expense	25.39	14.93	4.26	3.27	3.06
Total Debt / EBITDA	2.96	2.99	2.65	2.93	3.8
Net Debt / EBITDA	2.7	2.77	2.33	2.76	3.53
Total Debt / (EBITDA - Capex)	5.5	7.21	10.09	10.54	12.67
Net Debt / (EBITDA - Capex)	5.01	6.66	8.87	9.91	11.78
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.5	21.6	6.79	8.07	6.64
Gross Profit, 1 Yr. Growth %	10.65	13.02	5.41	5.4	2.27
EBITDA, 1 Yr. Growth %	21.33	10.24	10.73	12.04	-7.91
EBITA, 1 Yr. Growth %	36.48	11.25	11.76	-12.24	-22.52
EBIT, 1 Yr. Growth %	40.14	11.34	11.69	-12.21	-22.59
Earnings From Cont. Operations, 1 Yr. Growth %	51.76	32.94	-1.65	-14.83	-43.31
Net Income, 1 Yr. Growth %	51.18	33.04	30.92	-17.94	-46.42
Normalized Net Income, 1 Yr. Growth %	43.78	10.82	3.45	-19.96	-27.27
Diluted EPS Before Extra, 1 Yr. Growth %	49.83	31.89	-1.85	-14.72	-43.51
Accounts Receivable, 1 Yr. Growth %	20.07	19.89	-2.97	8.42	7.71
Inventory, 1 Yr. Growth %	6.25	46.52	-0.64	-19.04	20.33
Net Property, Plant and Equip., 1 Yr. Growth %	6.45	9.97	6.57	17.02	5.02
Total Assets, 1 Yr. Growth %	12.7	12.25	4.9	11.87	7.89
Tangible Book Value, 1 Yr. Growth %	2.04	16.34	16.71	1.79	-3.27
Common Equity, 1 Yr. Growth %	10.85	13.99	13.96	7.78	2.7
Cash From Operations, 1 Yr. Growth %	66.27	-28.44	35.32	11.42	-23.27
Capital Expenditures, 1 Yr. Growth %	-21.07	40.3	48.53	6.44	-13.47
Levered Free Cash Flow, 1 Yr. Growth %	2.48K	-95.45	63.76	1.25K	-134.03
Unlevered Free Cash Flow, 1 Yr. Growth %	1.3K	-91.38	96.82	272.51	-63.27
Dividend Per Share, 1 Yr. Growth %	-25	33.33	27.5	-18.63	-34.94
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.95	16.44	12.55	7.43	7.35
Gross Profit, 2 Yr. CAGR %	2.05	11.83	10.93	5.4	3.82
EBITDA, 2 Yr. CAGR %	4.72	15.77	13.52	7.48	-2.2
EBITA, 2 Yr. CAGR %	4.36	23.45	19.81	-0.96	-17.54
EBIT, 2 Yr. CAGR %	4.35	25.14	19.79	-0.98	-17.56
Earnings From Cont. Operations, 2 Yr. CAGR %	4.71	42.04	26.14	-8.47	-30.51
Net Income, 2 Yr. CAGR %	4.71	41.82	31.98	3.65	-33.69
Normalized Net Income, 2 Yr. CAGR %	7.33	26.46	15.36	-9.01	-23.7
Diluted EPS Before Extra, 2 Yr. CAGR %	4.11	40.57	25.48	-8.51	-30.59
Accounts Receivable, 2 Yr. CAGR %	7.22	19.98	7.86	2.57	8.06
Inventory, 2 Yr. CAGR %	7.77	24.78	20.66	-10.31	-1.3
Net Property, Plant and Equip., 2 Yr. CAGR %	5.94	8.78	8.25	11.67	10.86
Total Assets, 2 Yr. CAGR %	8.12	12.57	8.51	8.33	9.86
Tangible Book Value, 2 Yr. CAGR %	7.01	10.07	16.53	9	-0.77
Common Equity, 2 Yr. CAGR %	9.61	12.41	13.97	10.83	5.21
Cash From Operations, 2 Yr. CAGR %	17.85	9.08	-1.6	22.79	-7.54
Capital Expenditures, 2 Yr. CAGR %	3.64	5.23	42.86	25.73	-4.03
Levered Free Cash Flow, 2 Yr. CAGR %	22.02	8.92	-55.9	69.72	44.53
Unlevered Free Cash Flow, 2 Yr. CAGR %	20.51	10.56	-45.53	80.9	-7
Dividend Per Share, 2 Yr. CAGR %	-	0	30.38	1.86	-27.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	2.51	7.41	12.2	11.04	7.17
Gross Profit, 3 Yr. CAGR %	8.81	5.59	10.84	9.06	4.35
EBITDA, 3 Yr. CAGR %	6.78	6.61	16.15	10.37	-0.46
EBITA, 3 Yr. CAGR %	9.01	6.74	25.28	8	-8.74
EBIT, 3 Yr. CAGR %	9.21	6.76	26.38	8	-8.78
Earnings From Cont. Operations, 3 Yr. CAGR %	5.11	13.38	34.16	10.66	-21.98
Net Income, 3 Yr. CAGR %	5.22	13.41	38.09	12.64	-16.81
Normalized Net Income, 3 Yr. CAGR %	11.66	8.61	24.3	2.13	-15.55
Diluted EPS Before Extra, 3 Yr. CAGR %	4.75	12.65	33.12	10.32	-22.09
Accounts Receivable, 3 Yr. CAGR %	6.45	11.29	11.78	8.04	4.25
Inventory, 3 Yr. CAGR %	11.07	19.39	15.65	5.63	-1.08
Net Property, Plant and Equip., 3 Yr. CAGR %	9.14	7.65	8.04	11.1	9.41
Total Assets, 3 Yr. CAGR %	8.91	9.54	9.95	9.62	8.18
Tangible Book Value, 3 Yr. CAGR %	8.03	10.78	12.24	11.39	4.74
Common Equity, 3 Yr. CAGR %	9.59	11.05	12.92	11.87	8.05
Cash From Operations, 3 Yr. CAGR %	16.22	-0.21	17.21	2.56	4.98
Capital Expenditures, 3 Yr. CAGR %	-18.23	14.65	17.22	29.51	11.01
Levered Free Cash Flow, 3 Yr. CAGR %	21.29	-59.08	71.78	-30.07	-23.67
Unlevered Free Cash Flow, 3 Yr. CAGR %	25	-49.79	61.41	-20.99	-8.75
Dividend Per Share, 3 Yr. CAGR %	6.27	-	8.44	11.42	-12.28
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.42	7.46	6.42	6.89	10.24
Gross Profit, 5 Yr. CAGR %	7.77	9.41	9.65	6.2	7.98
EBITDA, 5 Yr. CAGR %	7.06	8.19	9.48	8.12	6.89
EBITA, 5 Yr. CAGR %	8.97	9.6	13.29	6.61	5.98
EBIT, 5 Yr. CAGR %	9.04	9.72	13.41	6.61	6.52
Earnings From Cont. Operations, 5 Yr. CAGR %	4.68	9.23	13.07	8.24	3.12
Net Income, 5 Yr. CAGR %	4.79	9.34	15.2	9.4	2.97
Normalized Net Income, 5 Yr. CAGR %	11.67	10.82	13.21	4.25	2.26
Diluted EPS Before Extra, 5 Yr. CAGR %	4.4	8.82	12.59	7.8	2.59
Accounts Receivable, 5 Yr. CAGR %	6.13	9.11	7.01	7.71	10.28
Inventory, 5 Yr. CAGR %	18.65	16.77	14.81	6.48	8.55
Net Property, Plant and Equip., 5 Yr. CAGR %	10.19	11.16	9.02	9.24	9.16
Total Assets, 5 Yr. CAGR %	9.16	10.42	8.79	9.05	9.92
Tangible Book Value, 5 Yr. CAGR %	9.04	9.16	11.81	10.06	6.84
Common Equity, 5 Yr. CAGR %	10.37	10.69	11.32	10.96	9.77
Cash From Operations, 5 Yr. CAGR %	15.33	7.5	8.73	8.42	6.6
Capital Expenditures, 5 Yr. CAGR %	2.07	6.02	2.22	18.46	8.21
Levered Free Cash Flow, 5 Yr. CAGR %	71.56	13.3	-18.9	-12.44	6.6
Unlevered Free Cash Flow, 5 Yr. CAGR %	54.27	7.92	-10.15	-6.26	10.18
Dividend Per Share, 5 Yr. CAGR %	5.92	10.3	15.33	-	-7.56