Cash flow Valmet Oyj

Equities

VALMT

FI4000074984

Industrial Machinery & Equipment

Market Closed - Nasdaq Helsinki Other stock markets 12:00:00 2025-07-16 EDT			After hours 13:54:22
26.45 ^EUR	-1.56%		26.57	+0.45%

07-08	Global markets live: Apple, Honeywell Int., BP, Newmont, Nissan…
07-08	Valmet to Deliver Key Pulp Mill Technology to Shandong Sun Paper's Yandian Pulp Mill in China	CI

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Published financial data: VALMET OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	3.74B	3.94B	5.07B	5.53B	5.36B
Total Revenues	3.74B	3.94B	5.07B	5.53B	5.36B
Cost of Goods Sold, Total	2.84B	2.94B	3.81B	4.1B	3.85B
Gross Profit	904M	993M	1.26B	1.43B	1.51B
Selling General & Admin Expenses, Total	568M	594M	832M	905M	988M
Other Operating Expenses	3M	-7M	6M	14M	10M
Other Operating Expenses, Total	571M	587M	838M	919M	998M
Operating Income	333M	406M	426M	510M	514M
Interest Expense, Total	-11M	-1M	-10M	-38M	-89M
Interest And Investment Income	4M	4M	9M	14M	22M
Net Interest Expenses	-7M	3M	-1M	-24M	-67M
Income (Loss) On Equity Invest.	0	3M	7M	3M	2M
Currency Exchange Gains (Loss)	-3M	-11M	-6M	6M	-8M
Other Non Operating Income (Expenses)	-4M	-1M	-4M	-4M	-5M
EBT, Excl. Unusual Items	319M	400M	422M	491M	436M
Restructuring Charges	-11M	-	-4M	-8M	-18M
Merger & Related Restructuring Charges	-1M	-6M	-11M	-6M	-19M
Gain (Loss) On Sale Of Investments	-	-	59M	-	-
Gain (Loss) On Sale Of Assets	-	1M	1M	3M	1M
Asset Writedown	-1M	-1M	-4M	-2M	-13M
Insurance Settlements	2M	-	22M	34M	6M
Other Unusual Items	-2M	2M	-53M	-39M	-10M
EBT, Incl. Unusual Items	306M	396M	432M	473M	383M
Income Tax Expense	75M	99M	94M	114M	102M
Earnings From Continuing Operations	231M	297M	338M	359M	281M
Net Income to Company	231M	297M	338M	359M	281M
Minority Interest	-	-1M	-	-2M	-1M
Net Income - (IS)	231M	296M	338M	357M	280M
Net Income to Common Incl Extra Items	231M	296M	338M	357M	280M
Net Income to Common Excl. Extra Items	231M	296M	338M	357M	280M
Per Share Items
Net EPS - Basic	1.55	1.98	1.92	1.94	1.52
Basic EPS - Continuing Operations	1.55	1.98	1.92	1.94	1.52
Basic Weighted Average Shares Outstanding	149M	149M	176M	184M	184M
Net EPS - Diluted	1.54	1.98	1.92	1.94	1.52
Diluted EPS - Continuing Operations	1.54	1.98	1.92	1.94	1.52
Diluted Weighted Average Shares Outstanding	149M	149M	176M	184M	184M
Normalized Basic EPS	1.33	1.67	1.5	1.66	1.47
Normalized Diluted EPS	1.33	1.67	1.5	1.66	1.47
Dividend Per Share	0.9	1.2	1.3	1.35	1.35
Payout Ratio	51.95	45.61	52.96	66.95	88.57
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	405M	490M	579M	647M	665M
EBITA	357M	443M	524M	589M	602M
EBIT	333M	406M	426M	510M	514M
EBITDAR	415M	499M	588M	658M	676M
Effective Tax Rate - (Ratio)	24.51	25	21.76	24.1	26.63
Total Current Taxes	75M	103M	112M	135M	119M
Total Deferred Taxes	-	-4M	-18M	-21M	-17M
Normalized Net Income	199M	249M	264M	305M	272M
Interest on Long-Term Debt	2M	2M	3M	5M	8M
Non-Cash Pension Expense	4M	2M	3M	5M	4M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	75M	82M	95M	114M	123M
Net Rental Expense, Total	10M	9M	9M	11M	11M
Imputed Operating Lease Interest Expense	2.28M	147K	1.12M	2.92M	5.17M
Imputed Operating Lease Depreciation	7.72M	8.85M	7.88M	8.08M	5.83M
Stock-Based Comp., Other (Total)	4.34M	6.98M	6.83M	6.66M	7.74M
Total Stock-Based Compensation	4.34M	6.98M	6.83M	6.66M	7.74M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	274M	517M	277M	432M	482M
Short Term Investments	74M	47M	31M	25M	38M
Total Cash And Short Term Investments	348M	564M	308M	457M	520M
Accounts Receivable, Total	831M	924M	1.32B	1.45B	1.21B
Other Receivables	161M	178M	268M	314M	64M
Total Receivables	992M	1.1B	1.59B	1.76B	1.27B
Inventory	554M	662M	935M	1.05B	903M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	49M	35M	57M	29M	251M
Total Current Assets	1.94B	2.36B	2.89B	3.3B	2.94B
Gross Property Plant And Equipment	1.45B	1.5B	1.63B	1.74B	1.82B
Accumulated Depreciation	-1.01B	-1.03B	-1.03B	-1.05B	-1.1B
Net Property Plant And Equipment	441M	468M	600M	698M	726M
Long-term Investments	471M	472M	25M	26M	29M
Goodwill	711M	730M	1.61B	1.74B	1.81B
Other Intangibles, Total	272M	274M	1.03B	1.14B	1.13B
Accounts Receivable Long-Term	-	-	-	8M	22M
Loans Receivable Long-Term	1M	1M	-	-	-
Deferred Tax Assets Long-Term	61M	66M	62M	90M	94M
Other Long-Term Assets, Total	59M	46M	58M	69M	82M
Total Assets	3.96B	4.42B	6.27B	7.06B	6.83B
Liabilities
Accounts Payable, Total	372M	374M	442M	520M	460M
Accrued Expenses, Total	145M	159M	214M	237M	239M
Current Portion of Long-Term Debt	18M	222M	155M	103M	115M
Current Portion of Leases	22M	22M	35M	43M	50M
Current Income Taxes Payable	65M	79M	79M	85M	75M
Unearned Revenue Current, Total	1B	1.26B	1.2B	1.15B	904M
Other Current Liabilities	405M	450M	608M	525M	513M
Total Current Liabilities	2.03B	2.57B	2.74B	2.66B	2.36B
Long-Term Debt	421M	196M	555M	1.24B	1.27B
Long-Term Leases	40M	37M	63M	98M	107M
Pension & Other Post Retirement Benefits	201M	189M	132M	154M	157M
Deferred Tax Liability Non Current	65M	69M	238M	283M	284M
Other Non Current Liabilities	60M	28M	46M	54M	42M
Total Liabilities	2.82B	3.09B	3.77B	4.49B	4.22B
Common Stock, Total	100M	100M	140M	140M	140M
Retained Earnings	633M	804M	999M	1.1B	1.14B
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	404M	422M	1.36B	1.33B	1.33B
Total Common Equity	1.14B	1.33B	2.5B	2.56B	2.61B
Minority Interest	6M	6M	5M	6M	7M
Total Equity	1.14B	1.33B	2.5B	2.57B	2.61B
Total Liabilities And Equity	3.96B	4.42B	6.27B	7.06B	6.83B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	149M	149M	184M	184M	184M
ECS Total Common Shares Outstanding	149M	149M	184M	184M	184M
Book Value / Share	7.61	8.87	13.55	13.93	14.16
Tangible Book Value	154M	322M	-145M	-312M	-328M
Tangible Book Value Per Share	1.03	2.15	-0.79	-1.69	-1.78
Total Debt	501M	477M	808M	1.48B	1.54B
Net Debt	153M	-87M	500M	1.03B	1.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	200M	187M	124M	146M	127M
Debt Equivalent Oper. Leases	80M	72M	72M	88M	88M
Minority Interest, Total (Incl. Fin. Div)	6M	6M	5M	6M	7M
Equity Method Investments, Total	468M	461M	15M	16M	17M
Account Code - Inventory Valuation	5	5	5	5	3
Inventories - Raw Materials, Total	89M	94M	240M	249M	206M
Inventories - Work In Process, Total	355M	425M	424M	472M	396M
Inventories - Finished Goods, Total	110M	143M	271M	327M	301M
Land - (BS)	25M	25M	41M	40M	41M
Buildings, Total	395M	395M	428M	449M	461M
Machinery, Total	916M	941M	975M	1.03B	1.08B
Full Time Employees	12.54K	12.66K	15.51K	16.94K	18.67K
Part Time Employees	214	219	273	326	636
Accumulated Allowance for Doubtful Accounts (Supple)	18M	19M	21M	25M	33M
Order Backlog	3.26B	4.1B	4.4B	3.97B	4.45B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	231M	296M	338M	357M	280M
Depreciation & Amortization - CF	72M	71M	89M	98M	111M
Amortization of Goodwill and Intangible Assets - (CF)	24M	37M	98M	79M	88M
Depreciation & Amortization, Total	96M	108M	187M	177M	199M
Amortization of Deferred Charges, Total - (CF)	10M	12M	16M	19M	20M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Other Operating Activities, Total	35M	-10M	-106M	-21M	12M
Change In Accounts Receivable	88M	-93M	-395M	-130M	242M
Change In Inventories	-40M	-109M	-272M	-114M	145M
Change In Accounts Payable	18M	2M	68M	78M	-59M
Change in Unearned Revenues	89M	261M	-58M	-53M	-247M
Change in Other Net Operating Assets	5M	15M	258M	39M	-38M
Cash from Operations	532M	482M	36M	352M	554M
Capital Expenditure	-60M	-68M	-80M	-98M	-83M
Sale of Property, Plant, and Equipment	1M	2M	2M	6M	2M
Cash Acquisitions	-48M	-15M	117M	-415M	-135M
Sale (Purchase) of Intangible assets	-29M	-29M	-32M	-27M	-24M
Investment in Marketable and Equity Securities, Total	-456M	11M	13M	2M	2M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-592M	-99M	20M	-532M	-238M
Short Term Debt Issued, Total	-	-	96M	-	-
Long-Term Debt Issued, Total	329M	100M	400M	725M	375M
Total Debt Issued	329M	100M	496M	725M	375M
Short Term Debt Repaid, Total	-	-	-	-58M	-42M
Long-Term Debt Repaid, Total	-127M	-145M	-626M	-84M	-342M
Total Debt Repaid	-127M	-145M	-626M	-142M	-384M
Repurchase of Common Stock	-6M	-3M	-5M	-4M	-3M
Common Dividends Paid	-120M	-135M	-179M	-239M	-248M
Common & Preferred Stock Dividends Paid	-120M	-135M	-179M	-239M	-248M
Other Financing Activities, Total	-48M	28M	22M	6M	-8M
Cash from Financing	28M	-155M	-292M	346M	-268M
Foreign Exchange Rate Adjustments	-10M	16M	-4M	-10M	3M
Miscellaneous Cash Flow Adjustments	-	-1M	-	-1M	-1M
Net Change in Cash	-42M	243M	-240M	155M	50M
Supplemental Items
Cash Interest Paid	8M	8M	12M	31M	74M
Cash Income Tax Paid (Refund)	75M	91M	131M	143M	134M
Levered Free Cash Flow	356M	415M	-199M	82.66M	470M
Unlevered Free Cash Flow	362M	416M	-193M	106M	526M
Change In Net Working Capital	-133M	-132M	557M	290M	-85M
Net Debt Issued / Repaid	202M	-45M	-130M	583M	-9M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.62	6.06	4.98	4.78	4.62
Return on Total Capital	14.06	14.7	10.41	8.66	7.82
Return On Equity %	21.11	24	17.64	14.16	10.84
Return on Common Equity	21.22	24.04	17.69	14.11	10.83
Margin Analysis
Gross Profit Margin %	24.17	25.24	24.91	25.83	28.21
SG&A Margin	15.19	15.1	16.4	16.36	18.44
EBITDA Margin %	10.83	12.45	11.41	11.7	12.41
EBITA Margin %	9.55	11.26	10.33	10.65	11.23
EBIT Margin %	8.9	10.32	8.4	9.22	9.59
Income From Continuing Operations Margin %	6.18	7.55	6.66	6.49	5.24
Net Income Margin %	6.18	7.52	6.66	6.45	5.22
Net Avail. For Common Margin %	6.18	7.52	6.66	6.45	5.22
Normalized Net Income Margin	5.33	6.33	5.2	5.51	5.07
Levered Free Cash Flow Margin	9.51	10.55	-3.93	1.49	8.78
Unlevered Free Cash Flow Margin	9.69	10.56	-3.8	1.92	9.82
Asset Turnover
Asset Turnover	1.01	0.94	0.95	0.83	0.77
Fixed Assets Turnover	8.6	8.66	9.5	8.52	7.53
Receivables Turnover (Average Receivables)	4.28	4.48	4.52	4	4.04
Inventory Turnover (Average Inventory)	5.32	4.84	4.77	4.14	3.94
Short Term Liquidity
Current Ratio	0.96	0.92	1.05	1.24	1.25
Quick Ratio	0.66	0.65	0.69	0.83	0.76
Operating Cash Flow to Current Liabilities	0.26	0.19	0.01	0.13	0.24
Days Sales Outstanding (Average Receivables)	85.58	81.39	80.68	91.28	90.63
Days Outstanding Inventory (Average Inventory)	68.85	75.43	76.5	88.16	92.81
Average Days Payable Outstanding	46.18	44.64	36.47	41.63	48.44
Cash Conversion Cycle (Average Days)	108.25	112.19	120.7	137.81	134.99
Long Term Solvency
Total Debt/Equity	43.83	35.81	32.31	57.72	59.07
Total Debt / Total Capital	30.47	26.37	24.42	36.6	37.13
LT Debt/Equity	40.33	17.49	24.71	52.04	52.75
Long-Term Debt / Total Capital	28.04	12.88	18.68	33	33.16
Total Liabilities / Total Assets	71.13	69.86	60.13	63.6	61.74
EBIT / Interest Expense	30.27	406	42.6	13.42	5.78
EBITDA / Interest Expense	39	514	61.3	18.08	8.01
(EBITDA - Capex) / Interest Expense	33.55	446	53.3	15.5	7.08
Total Debt / EBITDA	1.17	0.93	1.32	2.16	2.17
Net Debt / EBITDA	0.36	-0.17	0.82	1.49	1.44
Total Debt / (EBITDA - Capex)	1.36	1.07	1.52	2.52	2.45
Net Debt / (EBITDA - Capex)	0.41	-0.2	0.94	1.74	1.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.44	5.21	28.95	9.03	-3.13
Gross Profit, 1 Yr. Growth %	3.67	9.85	27.29	13.05	5.81
EBITDA, 1 Yr. Growth %	14.41	20.99	18.16	11.74	2.78
EBITA, 1 Yr. Growth %	17.05	23.4	18.28	12.4	2.21
EBIT, 1 Yr. Growth %	18.51	21.92	4.93	19.72	0.78
Earnings From Cont. Operations, 1 Yr. Growth %	14.36	28.57	13.8	6.53	-21.73
Net Income, 1 Yr. Growth %	14.93	28.14	14.19	5.93	-21.57
Normalized Net Income, 1 Yr. Growth %	19.74	24.89	5.92	15.87	-10.95
Diluted EPS Before Extra, 1 Yr. Growth %	14.62	28.57	-3.03	1.03	-21.59
Accounts Receivable, 1 Yr. Growth %	-9.48	11.19	42.75	9.78	-16.71
Inventory, 1 Yr. Growth %	7.99	19.49	41.24	12.21	-13.84
Net Property, Plant and Equip., 1 Yr. Growth %	2.8	6.12	28.21	16.33	4.01
Total Assets, 1 Yr. Growth %	14.69	11.64	41.92	12.65	-3.28
Tangible Book Value, 1 Yr. Growth %	54	109.09	-145.03	112.24	5.13
Common Equity, 1 Yr. Growth %	9.33	16.62	88.24	2.85	1.64
Cash From Operations, 1 Yr. Growth %	80.34	-9.4	-92.53	877.78	57.39
Capital Expenditures, 1 Yr. Growth %	5.26	13.33	17.65	22.5	-15.31
Levered Free Cash Flow, 1 Yr. Growth %	151.24	16.74	-147.98	-141.5	449.13
Unlevered Free Cash Flow, 1 Yr. Growth %	143.21	14.69	-146.4	-155.16	380.77
Dividend Per Share, 1 Yr. Growth %	12.5	33.33	8.33	3.85	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.06	5.33	16.48	18.57	2.77
Gross Profit, 2 Yr. CAGR %	8.71	6.71	18.25	19.96	9.37
EBITDA, 2 Yr. CAGR %	16.38	17.65	19.57	14.91	7.17
EBITA, 2 Yr. CAGR %	18.79	20.52	20.81	15.31	7.18
EBIT, 2 Yr. CAGR %	20.06	20.2	13.11	12.08	9.84
Earnings From Cont. Operations, 2 Yr. CAGR %	23.69	21.26	20.96	9.94	-8.69
Net Income, 2 Yr. CAGR %	23.69	21.35	20.96	9.82	-8.85
Normalized Net Income, 2 Yr. CAGR %	19.6	22.29	15.02	10.65	1.58
Diluted EPS Before Extra, 2 Yr. CAGR %	23.54	21.4	11.66	-1.05	-11
Accounts Receivable, 2 Yr. CAGR %	7.14	0.33	25.99	25.18	-4.38
Inventory, 2 Yr. CAGR %	14.99	13.6	29.91	25.82	-1.67
Net Property, Plant and Equip., 2 Yr. CAGR %	12.57	4.45	16.64	22.12	10
Total Assets, 2 Yr. CAGR %	15.11	13.16	25.88	26.42	4.38
Tangible Book Value, 2 Yr. CAGR %	10.55	79.44	-2.97	-1.56	49.38
Common Equity, 2 Yr. CAGR %	9.75	12.92	48.16	39.08	2.24
Cash From Operations, 2 Yr. CAGR %	36.87	27.82	-73.99	-14.54	292.29
Capital Expenditures, 2 Yr. CAGR %	6.4	9.22	15.47	20.05	1.86
Levered Free Cash Flow, 2 Yr. CAGR %	29.89	71.26	-25.16	-55.38	53.68
Unlevered Free Cash Flow, 2 Yr. CAGR %	29.99	67.02	-27.05	-49.41	65.12
Dividend Per Share, 2 Yr. CAGR %	17.67	22.47	20.18	6.07	1.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.94	5.78	12.68	13.94	10.84
Gross Profit, 3 Yr. CAGR %	8.64	9.08	13.17	16.49	15.04
EBITDA, 3 Yr. CAGR %	14.9	17.9	17.82	16.9	10.72
EBITA, 3 Yr. CAGR %	18.05	20.53	19.77	17.94	10.76
EBIT, 3 Yr. CAGR %	20.36	20.68	14.88	15.27	8.18
Earnings From Cont. Operations, 3 Yr. CAGR %	24.05	25.29	18.72	15.83	-1.83
Net Income, 3 Yr. CAGR %	24.05	25.15	18.92	15.62	-1.84
Normalized Net Income, 3 Yr. CAGR %	21.02	21.34	16.57	15.21	2.93
Diluted EPS Before Extra, 3 Yr. CAGR %	24.02	25.2	12.64	7.98	-8.44
Accounts Receivable, 3 Yr. CAGR %	5.39	8.47	12.84	20.33	9.28
Inventory, 3 Yr. CAGR %	10.11	16.47	22.15	23.68	10.9
Net Property, Plant and Equip., 3 Yr. CAGR %	7.6	10.38	11.83	16.54	15.76
Total Assets, 3 Yr. CAGR %	10.83	13.94	22.03	21.29	15.62
Tangible Book Value, 3 Yr. CAGR %	15.87	36.72	13.19	26.54	0.62
Common Equity, 3 Yr. CAGR %	7.59	11.99	33.89	31.15	25.28
Cash From Operations, 3 Yr. CAGR %	22.28	19.28	-50.4	-12.86	4.75
Capital Expenditures, 3 Yr. CAGR %	8.48	8.66	11.96	17.77	6.87
Levered Free Cash Flow, 3 Yr. CAGR %	18.22	25.35	12.06	-38.51	4.25
Unlevered Free Cash Flow, 3 Yr. CAGR %	17.63	24.68	8.98	-33.54	8.16
Dividend Per Share, 3 Yr. CAGR %	17.84	22.68	17.57	14.47	4
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.02	6.1	10.66	10.72	8.6
Gross Profit, 5 Yr. CAGR %	6.89	8.03	12.39	13.31	11.64
EBITDA, 5 Yr. CAGR %	11.79	14.68	16.74	16.69	13.44
EBITA, 5 Yr. CAGR %	15.06	17.71	19.28	18.41	14.57
EBIT, 5 Yr. CAGR %	18.25	19.73	17.4	17.16	12.84
Earnings From Cont. Operations, 5 Yr. CAGR %	24.57	29.04	22.81	18.91	6.82
Net Income, 5 Yr. CAGR %	24.57	28.96	22.81	18.78	6.85
Normalized Net Income, 5 Yr. CAGR %	19.3	20.94	18.58	16.95	10.27
Diluted EPS Before Extra, 5 Yr. CAGR %	24.74	29.2	18.92	13.95	2.5
Accounts Receivable, 5 Yr. CAGR %	3.7	4.04	13.19	14.87	5.61
Inventory, 5 Yr. CAGR %	1.75	7.05	17.64	20.12	11.97
Net Property, Plant and Equip., 5 Yr. CAGR %	2.75	4.59	11.13	14.94	11.1
Total Assets, 5 Yr. CAGR %	6.47	8.36	16.62	18.78	14.63
Tangible Book Value, 5 Yr. CAGR %	107.54	48.9	7.93	19.88	26.82
Common Equity, 5 Yr. CAGR %	5.87	8.52	22.28	22.13	20.18
Cash From Operations, 5 Yr. CAGR %	46.81	14.4	-34.16	4.39	13.43
Capital Expenditures, 5 Yr. CAGR %	10.15	8.61	11.22	13.08	7.81
Levered Free Cash Flow, 5 Yr. CAGR %	62.35	15.53	-1.54	-17.07	27.15
Unlevered Free Cash Flow, 5 Yr. CAGR %	57.71	14.86	-2.83	-13.08	28.69
Dividend Per Share, 5 Yr. CAGR %	20.79	23.36	18.77	15.74	11.03