Balance Sheet Hermès International

Stocks

RMS

FR0000052292

Apparel & Accessories

Market Closed - Euronext Paris Other stock markets 11:55:00 2026-07-17 am EDT			5-day change	1st Jan Change
1,681.00 ^EUR	-1.47%		+2.41%	-20.78%

Jul. 17	Hermès reopens its store at San Diego's Westfield UTC mall in California
Jul. 17	Hermès International Opens Relocated Store in US Mall	MT

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Published financial data: HERMÈS INTERNATIONAL

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	8.98B	11.6B	13.43B	15.17B	16B
Total Revenues	8.98B	11.6B	13.43B	15.17B	16B
Cost of Goods Sold, Total	2.58B	3.39B	3.72B	4.51B	4.62B
Gross Profit	6.4B	8.21B	9.71B	10.66B	11.38B
Selling General & Admin Expenses, Total	2.14B	2.68B	3.17B	3.57B	3.7B
Stock-Based Compensation (IS)	122M	65M	151M	180M	199M
Other Operating Expenses	547M	648M	632M	679M	780M
Other Operating Expenses, Total	2.81B	3.39B	3.95B	4.43B	4.68B
Operating Income	3.6B	4.82B	5.76B	6.23B	6.7B
Interest Expense, Total	-32M	-45M	-56M	-59M	-55M
Interest And Investment Income	12M	67M	331M	400M	286M
Net Interest Expenses	-20M	22M	275M	341M	231M
Income (Loss) On Equity Invest.	34M	50M	105M	44M	47M
Other Non Operating Income (Expenses)	-77M	-84M	-83M	-57M	-24M
EBT, Excl. Unusual Items	3.53B	4.81B	6.05B	6.56B	6.95B
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-65M	-123M	-106M	-83M	-127M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	3.47B	4.68B	5.95B	6.48B	6.82B
Income Tax Expense	1.02B	1.3B	1.62B	1.84B	2.26B
Earnings From Continuing Operations	2.45B	3.38B	4.32B	4.63B	4.56B
Net Income to Company	2.45B	3.38B	4.32B	4.63B	4.56B
Minority Interest	-8M	-13M	-12M	-28M	-36M
Net Income - (IS)	2.44B	3.37B	4.31B	4.6B	4.52B
Net Income to Common Incl Extra Items	2.44B	3.37B	4.31B	4.6B	4.52B
Net Income to Common Excl. Extra Items	2.44B	3.37B	4.31B	4.6B	4.52B
Per Share Items
Net EPS - Basic	23.37	32.2	41.2	43.93	43.15
Basic EPS - Continuing Operations	23.37	32.2	41.2	43.93	43.15
Basic Weighted Average Shares Outstanding	105M	105M	105M	105M	105M
Net EPS - Diluted	23.3	32.09	41.12	43.87	43.07
Diluted EPS - Continuing Operations	23.3	32.09	41.12	43.87	43.07
Diluted Weighted Average Shares Outstanding	105M	105M	105M	105M	105M
Normalized Basic EPS	21.03	28.61	36.03	38.85	41.09
Normalized Diluted EPS	20.96	28.51	35.96	38.8	41.01
Dividend Per Share	8	13	15	16	18
Payout Ratio	19.88	25.07	31.92	34.65	37.68
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	3.91B	5.09B	6.04B	6.56B	7.04B
EBITA	3.68B	4.83B	5.76B	6.24B	6.7B
EBIT	3.6B	4.82B	5.76B	6.23B	6.7B
EBITDAR	4.29B	5.56B	6.61B	7.17B	7.67B
Effective Tax Rate - (Ratio)	29.27	27.85	27.3	28.49	33.17
Total Current Taxes	1.03B	1.36B	1.74B	2.09B	2.36B
Total Deferred Taxes	-14M	-59M	-122M	-249M	-97M
Normalized Net Income	2.2B	2.99B	3.77B	4.07B	4.31B
Interest on Long-Term Debt	32M	43M	56M	59M	55M
Non-Cash Pension Expense	21M	16M	17M	22M	23M
Supplemental Operating Expense Items
Net Rental Expense, Total	383M	479M	565M	609M	626M
Imputed Operating Lease Interest Expense	56.9M	93.77M	129M	139M	124M
Imputed Operating Lease Depreciation	326M	385M	436M	470M	502M
Stock-Based Comp., Other (Total)	122M	65M	151M	180M	199M
Total Stock-Based Compensation	122M	65M	151M	180M	199M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	6.7B	9.22B	10.62B	11.64B	12.24B
Total Cash And Short Term Investments	6.7B	9.22B	10.62B	11.64B	12.24B
Accounts Receivable, Total	333M	383M	431M	478M	418M
Other Receivables	58M	19M	51M	28M	45M
Total Receivables	391M	402M	482M	506M	463M
Inventory	1.45B	1.78B	2.41B	2.8B	2.58B
Other Current Assets, Total	309M	422M	487M	531M	634M
Total Current Assets	8.84B	11.83B	14.01B	15.48B	15.91B
Gross Property Plant And Equipment	6.1B	6.68B	7.43B	8.5B	9.52B
Accumulated Depreciation	-2.7B	-3.09B	-3.37B	-3.74B	-4.03B
Net Property Plant And Equipment	3.4B	3.59B	4.06B	4.77B	5.49B
Long-term Investments	649M	1.15B	1.32B	1.26B	1.41B
Goodwill	42M	-	72M	228M	180M
Other Intangibles, Total	258M	213M	225M	237M	231M
Loans Receivable Long-Term	59M	65M	70M	-	-
Deferred Tax Assets Long-Term	546M	555M	631M	929M	914M
Other Long-Term Assets, Total	50M	60M	62M	183M	190M
Total Assets	13.85B	17.46B	20.45B	23.08B	24.32B
Liabilities
Accounts Payable, Total	450M	659M	685M	683M	626M
Accrued Expenses, Total	40M	15M	16M	677M	679M
Short-term Borrowings	1M	2M	1M	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	248M	268M	289M	332M	325M
Current Income Taxes Payable	347M	496M	586M	773M	452M
Other Current Liabilities	1.49B	1.56B	1.61B	1.16B	1.1B
Total Current Liabilities	2.58B	3B	3.18B	3.63B	3.19B
Long-Term Debt	-	1M	2M	1M	-
Long-Term Leases	1.53B	1.63B	1.72B	1.78B	1.99B
Pension & Other Post Retirement Benefits	220M	181M	151M	173M	146M
Deferred Tax Liability Non Current	15M	20M	2M	5M	14M
Other Non Current Liabilities	96M	168M	186M	161M	143M
Total Liabilities	4.44B	5B	5.24B	5.75B	5.48B
Common Stock, Total	54M	54M	54M	54M	54M
Additional Paid In Capital	50M	50M	50M	50M	50M
Retained Earnings	2.44B	3.37B	4.31B	4.6B	4.52B
Treasury Stock	-551M	-674M	-698M	-670M	-677M
Comprehensive Income and Other	7.4B	9.64B	11.48B	13.29B	14.89B
Total Common Equity	9.4B	12.44B	15.2B	17.33B	18.84B
Minority Interest	12M	16M	2M	7M	6M
Total Equity	9.41B	12.46B	15.2B	17.33B	18.85B
Total Liabilities And Equity	13.85B	17.46B	20.45B	23.08B	24.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	105M	105M	105M	105M	105M
ECS Total Common Shares Outstanding	105M	105M	105M	105M	105M
Book Value / Share	89.83	119	145.14	165.27	179.71
Tangible Book Value	9.1B	12.23B	14.9B	16.86B	18.43B
Tangible Book Value Per Share	86.96	116.96	142.31	160.84	175.79
Total Debt	1.78B	1.9B	2.01B	2.11B	2.31B
Net Debt	-4.92B	-7.32B	-8.61B	-9.53B	-9.93B
Debt Equivalent of Unfunded Proj. Benefit Obligation	260M	197M	167M	189M	165M
Debt Equivalent Oper. Leases	3.06B	3.83B	4.52B	4.87B	5.01B
Minority Interest, Total (Incl. Fin. Div)	12M	16M	2M	7M	6M
Equity Method Investments, Total	51M	54M	200M	238M	227M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	803M	960M	1.3B	1.32B	1.27B
Inventories - Finished Goods, Total	1.44B	1.61B	1.97B	2.69B	2.73B
Land - (BS)	199M	191M	348M	689M	996M
Buildings, Total	1.13B	1.28B	1.32B	1.47B	1.61B
Machinery, Total	1.7B	1.89B	2.08B	2.43B	2.57B
Full Time Employees	16.78K	18.88K	22.04K	24.2K	25.41K
Part Time Employees	813	808	-	982	1.08K
Accumulated Allowance for Doubtful Accounts (Supple)	3M	3M	3M	4M	4M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.44B	3.37B	4.31B	4.6B	4.52B
Depreciation & Amortization - CF	476M	524M	571M	654M	691M
Amortization of Goodwill and Intangible Assets - (CF)	87M	8M	6M	6M	5M
Depreciation & Amortization, Total	563M	532M	577M	660M	696M
Amortization of Deferred Charges, Total - (CF)	-	75M	89M	101M	103M
Minority Interest in Earnings - (CF)	8M	13M	12M	28M	36M
(Gain) Loss From Sale Of Asset	-4M	-1M	-14M	-2M	3M
Asset Writedown & Restructuring Costs	65M	123M	106M	83M	127M
(Income) Loss On Equity Investments - (CF)	-34M	-50M	-105M	-44M	-47M
Stock-Based Compensation (CF)	59M	55M	104M	142M	132M
Other Operating Activities, Total	-43M	-3M	42M	-193M	33M
Change In Accounts Receivable	-30M	-54M	-122M	4M	-49M
Change In Inventories	-116M	-324M	-662M	-313M	127M
Change In Accounts Payable	71M	203M	42M	-60M	-33M
Change In Deferred Taxes	-	-	-	-	-
Change in Other Net Operating Assets	421M	248M	-52M	130M	-278M
Cash from Operations	3.4B	4.18B	4.33B	5.14B	5.37B
Capital Expenditure	-403M	-414M	-578M	-1.07B	-708M
Sale of Property, Plant, and Equipment	3M	1M	-	1M	1M
Cash Acquisitions	-	-1M	-288M	-229M	-60M
Divestitures	-	-	-	-	-
Sale (Purchase) of Real Estate properties	-2M	-	-166M	-	-326M
Sale (Purchase) of Intangible assets	-127M	-104M	-115M	-	-127M
Investment in Marketable and Equity Securities, Total	-192M	-160M	-52M	118M	-171M
Other Investing Activities, Total	52M	99M	204M	-18M	115M
Cash from Investing	-669M	-579M	-995M	-1.2B	-1.28B
Long-Term Debt Issued, Total	-	-	-	-	8M
Total Debt Issued	-	-	-	-	8M
Long-Term Debt Repaid, Total	-220M	-261M	-278M	-306M	-341M
Total Debt Repaid	-220M	-261M	-278M	-306M	-341M
Repurchase of Common Stock	-158M	-123M	-130M	-37M	-8M
Common Dividends Paid	-486M	-844M	-1.38B	-1.59B	-1.7B
Common & Preferred Stock Dividends Paid	-486M	-844M	-1.38B	-1.59B	-1.7B
Special Dividend Paid	-	-	-	-1.05B	-1.05B
Other Financing Activities, Total	-5M	-9M	-10M	-61M	-42M
Cash from Financing	-869M	-1.24B	-1.79B	-3.05B	-3.14B
Foreign Exchange Rate Adjustments	110M	159M	-138M	119M	-364M
Miscellaneous Cash Flow Adjustments	1M	1M	1M	-	-1M
Net Change in Cash	1.98B	2.53B	1.4B	1.02B	597M
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	2.86B	3.09B	3.06B	3.68B	4.04B
Unlevered Free Cash Flow	2.88B	3.12B	3.1B	3.72B	4.07B
Change In Net Working Capital	-476M	46M	621M	47M	274M
Net Debt Issued / Repaid	-220M	-261M	-278M	-306M	-333M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	18.05	19.25	18.98	17.89	17.66
Return on Total Capital	22.2	23.58	22.79	21.24	20.61
Return On Equity %	29.2	30.91	31.26	28.47	25.21
Return on Common Equity	29.14	30.83	31.19	28.3	25.02
Margin Analysis
Gross Profit Margin %	71.28	70.79	72.29	70.26	71.11
SG&A Margin	23.79	23.1	23.6	23.53	23.15
EBITDA Margin %	43.51	43.84	45.01	43.23	44
EBITA Margin %	41	41.61	42.91	41.11	41.88
EBIT Margin %	40.04	41.54	42.86	41.07	41.84
Income From Continuing Operations Margin %	27.31	29.13	32.2	30.53	28.5
Net Income Margin %	27.22	29.02	32.11	30.34	28.27
Net Avail. For Common Margin %	27.22	29.02	32.11	30.34	28.27
Normalized Net Income Margin	24.49	25.79	28.08	26.84	26.92
Levered Free Cash Flow Margin	31.82	26.65	22.83	24.29	25.24
Unlevered Free Cash Flow Margin	32.05	26.9	23.09	24.53	25.46
Asset Turnover
Asset Turnover	0.72	0.74	0.71	0.7	0.68
Fixed Assets Turnover	2.77	3.32	3.51	3.44	3.12
Receivables Turnover (Average Receivables)	30.81	32.41	32.99	33.38	35.72
Inventory Turnover (Average Inventory)	1.88	2.1	1.77	1.73	1.72
Short Term Liquidity
Current Ratio	3.43	3.94	4.4	4.26	4.99
Quick Ratio	2.75	3.2	3.49	3.35	3.99
Operating Cash Flow to Current Liabilities	1.32	1.39	1.36	1.42	1.69
Days Sales Outstanding (Average Receivables)	11.85	11.26	11.06	10.97	10.22
Days Outstanding Inventory (Average Inventory)	193.68	173.83	205.7	211.4	212.07
Average Days Payable Outstanding	54.75	54.42	56.32	51.15	54.28
Cash Conversion Cycle (Average Days)	150.77	130.67	160.45	171.21	168.01
Long Term Solvency
Total Debt/Equity	18.89	15.25	13.23	12.2	12.27
Total Debt / Total Capital	15.89	13.23	11.69	10.87	10.93
LT Debt/Equity	16.25	13.09	11.33	10.28	10.54
Long-Term Debt / Total Capital	13.66	11.35	10	9.16	9.39
Total Liabilities / Total Assets	32.03	28.66	25.65	24.91	22.51
EBIT / Interest Expense	112.38	107.11	102.77	105.61	121.75
EBITDA / Interest Expense	129.97	118.93	113.07	116.8	134.4
(EBITDA - Capex) / Interest Expense	117.38	109.73	102.75	98.71	121.53
Total Debt / EBITDA	0.43	0.36	0.32	0.31	0.31
Net Debt / EBITDA	-1.18	-1.37	-1.36	-1.38	-1.34
Total Debt / (EBITDA - Capex)	0.47	0.38	0.35	0.36	0.35
Net Debt / (EBITDA - Capex)	-1.31	-1.48	-1.5	-1.64	-1.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	40.59	29.17	15.73	12.98	5.48
Gross Profit, 1 Yr. Growth %	46.3	28.29	18.19	9.81	6.75
EBITDA, 1 Yr. Growth %	69.47	32.83	18.84	8.5	7.36
EBITA, 1 Yr. Growth %	75.3	33.96	19.32	8.26	7.44
EBIT, 1 Yr. Growth %	76.71	34.04	19.4	8.27	7.46
Earnings From Cont. Operations, 1 Yr. Growth %	76.6	37.79	27.9	7.12	-1.53
Net Income, 1 Yr. Growth %	76.53	37.71	28.04	6.77	-1.72
Normalized Net Income, 1 Yr. Growth %	79.73	35.99	26.02	7.98	5.81
Diluted EPS Before Extra, 1 Yr. Growth %	76.38	37.73	28.14	6.69	-1.82
Accounts Receivable, 1 Yr. Growth %	33.2	15.02	12.53	10.9	-12.55
Inventory, 1 Yr. Growth %	12.41	22.77	35.69	15.87	-7.94
Net Property, Plant and Equip., 1 Yr. Growth %	9.9	5.62	13.01	17.3	15.15
Total Assets, 1 Yr. Growth %	25.3	26.08	17.11	12.9	5.36
Tangible Book Value, 1 Yr. Growth %	27.86	34.36	21.89	13.14	9.29
Common Equity, 1 Yr. Growth %	27.37	32.34	22.19	13.99	8.73
Cash From Operations, 1 Yr. Growth %	107.37	22.88	3.44	18.74	4.57
Capital Expenditures, 1 Yr. Growth %	20.3	2.73	39.61	84.6	-33.65
Levered Free Cash Flow, 1 Yr. Growth %	174.45	8.18	-0.89	20.22	9.64
Unlevered Free Cash Flow, 1 Yr. Growth %	171.64	8.41	-0.66	20.05	9.48
Dividend Per Share, 1 Yr. Growth %	75.82	62.5	15.38	6.67	12.5
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	14.23	34.76	22.27	14.35	9.17
Gross Profit, 2 Yr. CAGR %	15.99	37	23.14	13.92	8.27
EBITDA, 2 Yr. CAGR %	22.52	48.51	25.64	13.55	7.93
EBITA, 2 Yr. CAGR %	23.53	51.59	26.43	13.66	7.85
EBIT, 2 Yr. CAGR %	23.25	53.9	26.51	13.7	7.87
Earnings From Cont. Operations, 2 Yr. CAGR %	26.41	55.99	32.75	17.05	2.7
Net Income, 2 Yr. CAGR %	26.49	55.92	32.79	16.92	2.44
Normalized Net Income, 2 Yr. CAGR %	23.62	56.34	30.91	16.65	6.89
Diluted EPS Before Extra, 2 Yr. CAGR %	26.55	55.86	32.85	16.92	2.34
Accounts Receivable, 2 Yr. CAGR %	2.35	23.77	13.77	11.72	-1.52
Inventory, 2 Yr. CAGR %	13.11	17.48	29.07	25.39	3.28
Net Property, Plant and Equip., 2 Yr. CAGR %	16.68	7.74	9.25	15.24	16.22
Total Assets, 2 Yr. CAGR %	18.38	25.69	21.52	14.99	9.06
Tangible Book Value, 2 Yr. CAGR %	19.54	31.07	27.98	17.43	11.2
Common Equity, 2 Yr. CAGR %	19.63	29.83	27.17	18.02	11.33
Cash From Operations, 2 Yr. CAGR %	27.72	59.63	12.74	10.83	11.43
Capital Expenditures, 2 Yr. CAGR %	2.9	11.17	19.76	60.54	10.68
Levered Free Cash Flow, 2 Yr. CAGR %	32.28	72.31	3.55	9.15	14.81
Unlevered Free Cash Flow, 2 Yr. CAGR %	32.13	71.6	3.77	9.2	14.64
Dividend Per Share, 2 Yr. CAGR %	32.6	69.03	36.93	10.94	9.54
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	14.61	19.01	28.09	19.09	11.31
Gross Profit, 3 Yr. CAGR %	15.32	19.95	30.42	18.52	11.48
EBITDA, 3 Yr. CAGR %	19.01	25.01	37.88	19.65	11.45
EBITA, 3 Yr. CAGR %	20.57	26	39.97	20.06	11.55
EBIT, 3 Yr. CAGR %	19.61	26.75	41.41	20.11	11.58
Earnings From Cont. Operations, 3 Yr. CAGR %	20.25	30.09	46	23.59	10.5
Net Income, 3 Yr. CAGR %	20.27	30.12	46.01	23.48	10.35
Normalized Net Income, 3 Yr. CAGR %	19.79	27.61	45.5	22.77	12.92
Diluted EPS Before Extra, 3 Yr. CAGR %	20.25	30.17	46.01	23.48	10.31
Accounts Receivable, 3 Yr. CAGR %	5.86	6.41	19.91	12.8	2.96
Inventory, 3 Yr. CAGR %	14.57	16.24	23.26	24.51	13.12
Net Property, Plant and Equip., 3 Yr. CAGR %	13.43	12.87	9.47	11.94	15.21
Total Assets, 3 Yr. CAGR %	17.89	20.89	22.77	18.57	11.68
Tangible Book Value, 3 Yr. CAGR %	19.65	24.29	27.94	22.83	14.66
Common Equity, 3 Yr. CAGR %	19.78	23.73	27.23	22.61	14.84
Cash From Operations, 3 Yr. CAGR %	20.62	26.09	38.14	14.71	8.7
Capital Expenditures, 3 Yr. CAGR %	8.87	2.84	19.94	38.34	19.59
Levered Free Cash Flow, 3 Yr. CAGR %	19.09	23.71	43.3	8.83	9.32
Unlevered Free Cash Flow, 3 Yr. CAGR %	18.99	23.7	43.02	8.94	9.29
Dividend Per Share, 3 Yr. CAGR %	20.7	41.9	48.83	25.99	11.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.54	15.89	17.61	17.12	20.16
Gross Profit, 5 Yr. CAGR %	12.71	16.12	18.39	17.5	21.06
EBITDA, 5 Yr. CAGR %	15.4	18.61	21.13	20.29	25.01
EBITA, 5 Yr. CAGR %	16.61	19.69	22.35	20.91	26.11
EBIT, 5 Yr. CAGR %	16.06	19.65	22.33	21.36	26.9
Earnings From Cont. Operations, 5 Yr. CAGR %	17.31	22.49	25.11	24.71	26.84
Net Income, 5 Yr. CAGR %	17.32	22.48	25.13	24.67	26.71
Normalized Net Income, 5 Yr. CAGR %	16.15	19.91	24.12	23.11	28.61
Diluted EPS Before Extra, 5 Yr. CAGR %	17.35	22.53	25.14	24.7	26.66
Accounts Receivable, 5 Yr. CAGR %	1.63	8.4	8.96	8.5	10.83
Inventory, 5 Yr. CAGR %	9.63	14.7	20.16	19.82	14.84
Net Property, Plant and Equip., 5 Yr. CAGR %	20.55	22.84	11.74	13.81	12.16
Total Assets, 5 Yr. CAGR %	18.21	20.87	19.33	18.5	17.09
Tangible Book Value, 5 Yr. CAGR %	16.59	20.19	22.92	21.5	20.96
Common Equity, 5 Yr. CAGR %	16.49	19.81	22.68	21.41	20.62
Cash From Operations, 5 Yr. CAGR %	18.23	21.11	17.41	19.75	26.76
Capital Expenditures, 5 Yr. CAGR %	13.37	13.9	13.1	22.9	16.14
Levered Free Cash Flow, 5 Yr. CAGR %	18.35	20.04	12.61	17.67	31.14
Unlevered Free Cash Flow, 5 Yr. CAGR %	18.49	20.24	12.65	17.68	30.91
Dividend Per Share, 5 Yr. CAGR %	16.36	25.96	26.95	28.59	31.66