Cash flow Carrefour

Equities

CA

FR0000120172

Food Retail & Distribution

Market Closed - Euronext Paris Other stock markets 11:35:27 2024-09-13 am EDT			5-day change	1st Jan Change
15.22 ^EUR	+0.63%		+2.49%	-8.12%

Sep. 11	The mood is getting heavier, but Taylor Swift is keeping watch
Sep. 11	France's Carrefour Issues EUR750 Million Green Bond	MT

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Published financial data: CARREFOUR

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	71.65B	69.97B	72.1B	80.54B	82.28B
Other Revenues, Total	2.26B	1.99B	1.98B	2.35B	2.43B
Total Revenues	73.92B	71.95B	74.08B	82.89B	84.71B
Cost of Goods Sold, Total	58.05B	57.43B	59.48B	67.54B	69.06B
Gross Profit	15.86B	14.52B	14.6B	15.35B	15.65B
Selling General & Admin Expenses, Total	11.92B	10.02B	10.01B	10.67B	11.06B
Depreciation & Amortization - (IS)	2.09B	2.04B	2.02B	1.98B	2.03B
Other Operating Expenses	-227M	293M	302M	329M	319M
Other Operating Expenses, Total	13.79B	12.36B	12.33B	12.98B	13.41B
Operating Income	2.07B	2.16B	2.27B	2.37B	2.24B
Interest Expense, Total	-293M	-276M	-274M	-490M	-594M
Interest And Investment Income	10M	7M	4M	26M	176M
Net Interest Expenses	-283M	-269M	-270M	-464M	-418M
Income (Loss) On Equity Invest.	2M	-13M	12M	50M	44M
Currency Exchange Gains (Loss)	-11M	-28M	5M	-8M	12M
Other Non Operating Income (Expenses)	-52M	-35M	-39M	-77M	-58M
EBT, Excl. Unusual Items	1.73B	1.82B	1.98B	1.87B	1.82B
Restructuring Charges	-549M	-93M	-385M	-13M	-352M
Impairment of Goodwill	-1M	-104M	-84M	-1M	-1M
Gain (Loss) On Sale Of Investments	48M	6M	7M	5M	10M
Asset Writedown	-200M	-192M	-134M	-146M	-296M
Legal Settlements	-33M	-19M	-24M	-51M	-38M
Other Unusual Items	-268M	-67M	274M	308M	195M
EBT, Incl. Unusual Items	723M	1.35B	1.63B	1.97B	1.34B
Income Tax Expense	504M	498M	372M	408M	439M
Earnings From Continuing Operations	219M	853M	1.26B	1.56B	900M
Earnings Of Discontinued Operations	1.1B	-22M	42M	-21M	729M
Net Income to Company	1.32B	831M	1.3B	1.54B	1.63B
Minority Interest	-187M	-190M	-229M	-196M	30M
Net Income - (IS)	1.13B	641M	1.07B	1.35B	1.66B
Net Income to Common Incl Extra Items	1.13B	641M	1.07B	1.35B	1.66B
Net Income to Common Excl. Extra Items	32M	663M	1.03B	1.37B	930M
Per Share Items
Net EPS - Basic	1.43	0.8	1.36	1.82	2.32
Basic EPS - Continuing Operations	0.04	0.82	1.31	1.85	1.3
Basic Weighted Average Shares Outstanding	791M	806M	787M	741M	714M
Net EPS - Diluted	1.42	0.79	1.35	1.8	2.3
Diluted EPS - Continuing Operations	0.04	0.82	1.3	1.83	1.29
Diluted Weighted Average Shares Outstanding	792M	808M	791M	747M	719M
Normalized Basic EPS	1.13	1.18	1.28	1.31	1.64
Normalized Diluted EPS	1.13	1.17	1.27	1.3	1.62
Dividend Per Share	0.23	0.48	0.52	0.56	0.87
Payout Ratio	9.39	8.89	35.73	28.19	24.41
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	3.48B	3.54B	3.6B	3.71B	3.61B
EBITA	2.29B	2.42B	2.51B	2.62B	2.5B
EBIT	2.07B	2.16B	2.27B	2.37B	2.24B
EBITDAR	3.54B	3.56B	3.64B	3.77B	3.67B
Total Revenues (As Reported)	74.14B	72.15B	74.29B	83.09B	84.91B
Effective Tax Rate - (Ratio)	69.71	36.86	22.81	20.68	32.79
Total Current Taxes	475M	534M	444M	362M	341M
Total Deferred Taxes	29M	-35M	-71M	46M	98M
Normalized Net Income	892M	948M	1.01B	973M	1.17B
Interest on Long-Term Debt	109M	114M	107M	167M	208M
Non-Cash Pension Expense	-66M	-47M	-26M	-8M	-17M
Supplemental Operating Expense Items
Advertising Expense	791M	611M	641M	656M	682M
Selling and Marketing Expenses	-	611M	641M	656M	682M
General and Administrative Expenses	-	765M	659M	802M	904M
Net Rental Expense, Total	59M	16M	39M	53M	58M
Imputed Operating Lease Interest Expense	8.87M	2.03M	5.25M	11.84M	14.02M
Imputed Operating Lease Depreciation	50.13M	13.97M	33.75M	41.16M	43.98M
Maintenance & Repair Expenses, Total	713M	727M	712M	766M	778M
Stock-Based Comp., SG&A Exp. (Total)	-	23M	26M	22M	53M
Stock-Based Comp., Other (Total)	10M	-	-	-	-
Total Stock-Based Compensation	10M	23M	26M	22M	53M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.47B	4.44B	3.7B	5.22B	6.29B
Short Term Investments	78M	90M	119M	213M	198M
Trading Asset Securities, Total	4M	-	-	1M	191M
Total Cash And Short Term Investments	4.55B	4.53B	3.82B	5.43B	6.68B
Accounts Receivable, Total	6.71B	5.86B	6.09B	7.48B	7.96B
Other Receivables	1.26B	1.19B	1.29B	1.68B	1.5B
Total Receivables	7.97B	7.04B	7.38B	9.16B	9.46B
Inventory	5.87B	5.33B	5.86B	6.89B	6.54B
Prepaid Expenses	299M	304M	477M	419M	443M
Other Current Assets, Total	192M	272M	253M	1.98B	320M
Total Current Assets	18.88B	17.47B	17.78B	23.88B	23.45B
Gross Property Plant And Equipment	34.56B	34.68B	36.15B	37.98B	38.63B
Accumulated Depreciation	-18.8B	-19.67B	-21.07B	-21.18B	-21.81B
Net Property Plant And Equipment	15.76B	15.01B	15.08B	16.8B	16.82B
Long-term Investments	1.81B	1.76B	1.77B	1.62B	1.56B
Goodwill	7.98B	8.03B	8B	8.78B	8.71B
Other Intangibles, Total	1.45B	1.32B	1.33B	1.5B	1.55B
Accounts Receivable Long-Term	2.43B	2.04B	1.9B	1.94B	1.98B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	823M	679M	631M	475M	395M
Other Long-Term Assets, Total	1.68B	1.27B	1.17B	1.56B	1.7B
Total Assets	50.8B	47.59B	47.67B	56.55B	56.17B
Liabilities
Accounts Payable, Total	11.55B	10.56B	10.87B	12.09B	12.24B
Accrued Expenses, Total	2.43B	2.39B	2.4B	2.5B	2.52B
Short-term Borrowings	-	-	-	490M	122M
Current Portion of Long-Term Debt	4.71B	4.15B	4.21B	5.75B	5.87B
Current Portion of Leases	912M	936M	995M	955M	1.01B
Current Income Taxes Payable	180M	177M	218M	210M	239M
Unearned Revenue Current, Total	93M	93M	105M	131M	147M
Other Current Liabilities	3.19B	3.03B	3.36B	4.78B	3.18B
Total Current Liabilities	23.06B	21.34B	22.15B	26.91B	25.33B
Long-Term Debt	8.12B	7.81B	7.06B	8.46B	9.2B
Long-Term Leases	3.66B	3.79B	3.6B	3.57B	3.89B
Pension & Other Post Retirement Benefits	1.18B	1.15B	786M	537M	545M
Deferred Tax Liability Non Current	655M	467M	374M	364M	300M
Other Non Current Liabilities	2.46B	1.73B	1.86B	3.52B	3.52B
Total Liabilities	39.13B	36.29B	35.84B	43.36B	42.78B
Common Stock, Total	2.02B	2.04B	1.94B	1.86B	1.77B
Comprehensive Income and Other	7.92B	7.75B	8.31B	9.29B	9.77B
Total Common Equity	9.94B	9.8B	10.25B	11.14B	11.54B
Minority Interest	1.74B	1.5B	1.58B	2.04B	1.85B
Total Equity	11.68B	11.3B	11.83B	13.19B	13.39B
Total Liabilities And Equity	50.8B	47.59B	47.67B	56.55B	56.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	798M	808M	766M	731M	691M
ECS Total Common Shares Outstanding	798M	808M	766M	731M	691M
Book Value / Share	12.46	12.12	13.37	15.25	16.69
Tangible Book Value	512M	436M	923M	867M	1.28B
Tangible Book Value Per Share	0.64	0.54	1.2	1.19	1.84
Total Debt	17.4B	16.68B	15.87B	19.23B	20.09B
Net Debt	12.85B	12.16B	12.05B	13.8B	13.41B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.18B	1.15B	786M	537M	545M
Debt Equivalent Oper. Leases	472M	128M	312M	424M	464M
Minority Interest, Total (Incl. Fin. Div)	1.74B	1.5B	1.58B	2.04B	1.85B
Equity Method Investments, Total	1.25B	1.17B	1.26B	1.2B	1.14B
Account Code - Inventory Valuation	5	5	5	6	6
Inventories - Others	6.05B	5.5B	6.02B	7.09B	6.75B
Land - (BS)	2.62B	2.6B	2.63B	3.34B	3.19B
Buildings, Total	10.68B	10.15B	10.39B	11.5B	11.45B
Machinery, Total	14.69B	14.43B	14.89B	14.5B	14.14B
Full Time Employees	321K	216K	320K	347K	305K
Part Time Employees	-	80.24K	-	-	-
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	175M	174M	162M	190M	234M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.13B	641M	1.07B	1.35B	1.66B
Depreciation & Amortization - CF	2.1B	2.04B	2.04B	1.99B	2.04B
Amortization of Goodwill and Intangible Assets - (CF)	223M	252M	242M	247M	255M
Depreciation & Amortization, Total	2.33B	2.29B	2.28B	2.24B	2.3B
(Gain) Loss From Sale Of Asset	26M	47M	-235M	-165M	55M
Asset Writedown & Restructuring Costs	201M	296M	218M	147M	296M
Net (Increase) Decrease in Loans Originated / Sold - Operating	-205M	-29M	-104M	135M	-104M
(Income) Loss On Equity Investments - (CF)	101M	60M	43M	26M	38M
Net Cash From Discontinued Operations	109M	-54M	-15M	223M	35M
Other Operating Activities, Total	-498M	127M	437M	161M	-399M
Change In Accounts Receivable	-122M	-6M	-100M	-350M	-75M
Change In Inventories	-313M	79M	-422M	-678M	-6M
Change In Accounts Payable	913M	-66M	376M	1.04B	662M
Change in Other Net Operating Assets	-422M	8M	114M	92M	194M
Cash from Operations	3.25B	3.4B	3.66B	4.22B	4.65B
Capital Expenditure	-1.72B	-1.49B	-1.65B	-1.88B	-1.85B
Sale of Property, Plant, and Equipment	347M	159M	282M	380M	474M
Cash Acquisitions	-86M	-291M	-135M	-914M	-6M
Divestitures	338M	7M	185M	94M	1.07B
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	79M	-3M	-167M	-39M	-11M
Other Investing Activities, Total	34M	-222M	154M	227M	-413M
Cash from Investing	-1.01B	-1.84B	-1.33B	-2.13B	-739M
Long-Term Debt Issued, Total	1.06B	1.23B	302M	3.41B	1.42B
Total Debt Issued	1.06B	1.23B	302M	3.41B	1.42B
Long-Term Debt Repaid, Total	-2.44B	-1.9B	-1.84B	-2.01B	-2.62B
Total Debt Repaid	-2.44B	-1.9B	-1.84B	-2.01B	-2.62B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-702M	-753M	-727M
Common Dividends Paid	-106M	-57M	-383M	-380M	-405M
Common & Preferred Stock Dividends Paid	-106M	-57M	-383M	-380M	-405M
Other Financing Activities, Total	-507M	-404M	-439M	-594M	-396M
Cash from Financing	-1.99B	-1.13B	-3.06B	-326M	-2.72B
Foreign Exchange Rate Adjustments	-81M	-455M	-2M	-11M	-353M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	166M	-27M	-735M	1.75B	839M
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	-	449M	343M
Levered Free Cash Flow	872M	2.2B	1.57B	-171M	1.87B
Unlevered Free Cash Flow	1.05B	2.38B	1.74B	135M	2.24B
Change In Net Working Capital	852M	-199M	329M	1.72B	-346M
Net Debt Issued / Repaid	-1.37B	-665M	-1.54B	1.4B	-1.19B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.64	2.73	2.98	2.84	2.48
Return on Total Capital	4.78	4.69	5.06	4.93	4.25
Return On Equity %	1.91	7.43	10.74	12.51	6.77
Return on Common Equity	0.33	6.72	10.12	12.8	8.2
Margin Analysis
Gross Profit Margin %	21.46	20.18	19.71	18.52	18.48
SG&A Margin	16.13	13.93	13.52	12.88	13.06
EBITDA Margin %	4.71	4.92	4.86	4.48	4.26
EBITA Margin %	3.1	3.36	3.39	3.16	2.95
EBIT Margin %	2.8	3.01	3.06	2.86	2.65
Income From Continuing Operations Margin %	0.3	1.19	1.7	1.89	1.06