Cash flow Ipsos

Equities

IPS

FR0000073298

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Market Closed - Euronext Paris Other stock markets 11:55:00 2025-12-10 am EST			After hours 01:09:02 pm
31.80 ^EUR	-1.85%		31.85	+0.16%

02:02am	Dan Lévy Steps Down as Chief Financial Officer of Ipsos
12:54am	French and Benelux stocks-Factors to watch	RE

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Published financial data: IPSOS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.84B	2.15B	2.41B	2.39B	2.44B
Total Revenues	1.84B	2.15B	2.41B	2.39B	2.44B
Cost of Goods Sold, Total	657M	757M	811M	777M	763M
Gross Profit	1.18B	1.39B	1.59B	1.61B	1.68B
Selling General & Admin Expenses, Total	1.01B	1.09B	1.27B	1.28B	1.34B
Amortization of Goodwill and Intangible Assets - (IS)	5.41M	5.27M	7.41M	5.96M	6.32M
Other Operating Expenses	9.23M	22.07M	15.66M	23.66M	21.6M
Other Operating Expenses, Total	1.02B	1.12B	1.29B	1.31B	1.37B
Operating Income	159M	270M	300M	303M	312M
Interest Expense, Total	-27.41M	-19.41M	-19.58M	-21.38M	-19.72M
Interest And Investment Income	2.52M	2.02M	2.29M	4.42M	7.18M
Net Interest Expenses	-24.9M	-17.39M	-17.28M	-16.96M	-12.54M
Income (Loss) On Equity Invest.	-711K	1.67M	-862K	-390K	-2.19M
Currency Exchange Gains (Loss)	-6.57M	733K	7.85M	1.36M	1.67M
Other Non Operating Income (Expenses)	-596K	94K	-242K	-1.29M	816K
EBT, Excl. Unusual Items	126M	256M	290M	286M	300M
Restructuring Charges	-14.34M	-3.36M	8K	-	-
Merger & Related Restructuring Charges	-770K	-882K	-498K	-1.8M	-5.38M
Impairment of Goodwill	-	-	-	-27.8M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-5.92M
Asset Writedown	-	-	-	-	-4.76M
Legal Settlements	-112K	-	-	-	-
Other Unusual Items	38.07M	-1.24M	4.21M	-17.69M	-167K
EBT, Incl. Unusual Items	149M	250M	293M	238M	283M
Income Tax Expense	38.92M	62.91M	72.8M	72.93M	73.71M
Earnings From Continuing Operations	110M	187M	221M	166M	210M
Net Income to Company	110M	187M	221M	166M	210M
Minority Interest	-455K	-3.2M	-5.42M	-5.8M	-5.07M
Net Income - (IS)	109M	184M	215M	160M	205M
Net Income to Common Incl Extra Items	109M	184M	215M	160M	205M
Net Income to Common Excl. Extra Items	109M	184M	215M	160M	205M
Per Share Items
Net EPS - Basic	2.49	4.14	4.87	3.67	4.75
Basic EPS - Continuing Operations	2.49	4.14	4.87	3.67	4.75
Basic Weighted Average Shares Outstanding	44.04M	44.38M	44.21M	43.56M	43.08M
Net EPS - Diluted	2.43	4.04	4.74	3.59	4.66
Diluted EPS - Continuing Operations	2.43	4.04	4.74	3.59	4.66
Diluted Weighted Average Shares Outstanding	44.97M	45.57M	45.38M	44.47M	43.89M
Normalized Basic EPS	1.78	3.53	3.97	3.97	4.23
Normalized Diluted EPS	1.74	3.43	3.87	3.89	4.15
Dividend Per Share	0.9	1.15	1.35	1.65	1.85
Payout Ratio	18.06	21.65	23.73	36.92	34.83
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	181M	293M	324M	330M	337M
EBITA	172M	284M	314M	319M	327M
EBIT	159M	270M	300M	303M	312M
Effective Tax Rate - (Ratio)	26.14	25.16	24.82	30.58	26.02
Total Current Taxes	37.69M	68.82M	68.94M	83.85M	82.48M
Total Deferred Taxes	1.23M	-5.91M	3.87M	-10.92M	-8.77M
Normalized Net Income	78.31M	156M	176M	173M	182M
Interest on Long-Term Debt	4.32M	3.55M	4.07M	3.68M	3.46M
Non-Cash Pension Expense	9K	117K	138K	284K	-1.82M
Supplemental Operating Expense Items
General and Administrative Expenses	174M	183M	215M	214M	235M
Research And Development Expense From Footnotes	16.21M	5.38M	1.99M	-	-
Stock-Based Comp., SG&A Exp. (Total)	8.73M	12.07M	14.36M	16.31M	20.71M
Total Stock-Based Compensation	8.73M	12.07M	14.36M	16.31M	20.71M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	216M	298M	386M	278M	343M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	216M	298M	386M	278M	343M
Accounts Receivable, Total	592M	663M	663M	692M	703M
Other Receivables	70.68M	54.46M	53.78M	51.1M	50.44M
Total Receivables	663M	717M	717M	743M	753M
Prepaid Expenses	13.1M	17.05M	19.73M	18.95M	24.77M
Other Current Assets, Total	5.22M	5.25M	5.74M	6.74M	5.5M
Total Current Assets	897M	1.04B	1.13B	1.05B	1.13B
Gross Property Plant And Equipment	287M	284M	290M	292M	273M
Accumulated Depreciation	-131M	-130M	-138M	-150M	-142M
Net Property Plant And Equipment	156M	154M	152M	142M	131M
Long-term Investments	27.5M	38.63M	43.98M	46.38M	34.96M
Goodwill	1.25B	1.36B	1.37B	1.35B	1.41B
Other Intangibles, Total	39.88M	38.1M	40.78M	42.02M	66.07M
Loans Receivable Long-Term	25.49M	22.25M	21.77M	22.61M	25.02M
Deferred Tax Assets Long-Term	28.84M	25.22M	24.79M	25.43M	26.84M
Deferred Charges Long-Term	48.96M	60.8M	69.31M	76.11M	97.18M
Other Long-Term Assets, Total	-	-	-	-	-
Total Assets	2.47B	2.74B	2.85B	2.75B	2.91B
Liabilities
Accounts Payable, Total	292M	332M	350M	338M	335M
Accrued Expenses, Total	160M	179M	164M	166M	170M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	169M	30.32M	79.53M	22.9M	323M
Current Portion of Leases	36.97M	34.95M	36.59M	37.1M	31.96M
Current Income Taxes Payable	22.24M	25.46M	23.86M	40.77M	41.84M
Unearned Revenue Current, Total	39.51M	64.33M	51.72M	53.92M	54.25M
Other Current Liabilities	11.92M	22.35M	22.94M	46.53M	47.53M
Total Current Liabilities	732M	689M	729M	705M	1B
Long-Term Debt	394M	449M	375M	375M	76.98M
Long-Term Leases	107M	102M	95.67M	87.52M	80.64M
Pension & Other Post Retirement Benefits	32.86M	36.26M	35.94M	37.43M	40.4M
Deferred Tax Liability Non Current	60.5M	66.46M	72.83M	63.28M	74.74M
Other Non Current Liabilities	25.4M	52.58M	42.74M	51.95M	60.41M
Total Liabilities	1.35B	1.4B	1.35B	1.32B	1.34B
Common Stock, Total	11.11M	11.11M	11.06M	10.8M	10.8M
Additional Paid In Capital	516M	508M	496M	446M	446M
Retained Earnings	109M	184M	215M	160M	205M
Treasury Stock	-9.74M	-643K	-548K	-965K	-7.53M
Comprehensive Income and Other	477M	631M	760M	801M	924M
Total Common Equity	1.1B	1.33B	1.48B	1.42B	1.58B
Minority Interest	18.16M	8.96M	18.81M	16.35M	243K
Total Equity	1.12B	1.34B	1.5B	1.43B	1.58B
Total Liabilities And Equity	2.47B	2.74B	2.85B	2.75B	2.91B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	44.06M	44.42M	44.24M	43.19M	43.08M
ECS Total Common Shares Outstanding	44.06M	44.42M	44.24M	43.19M	43.08M
Book Value / Share	25.05	30.02	33.48	32.79	36.62
Tangible Book Value	-185M	-65.09M	69.71M	22.32M	104M
Tangible Book Value Per Share	-4.21	-1.47	1.58	0.52	2.42
Total Debt	707M	616M	587M	522M	512M
Net Debt	491M	318M	201M	244M	170M
Debt Equivalent of Unfunded Proj. Benefit Obligation	32.55M	37.38M	35.92M	35.65M	40.4M
Minority Interest, Total (Incl. Fin. Div)	18.16M	8.96M	18.81M	16.35M	243K
Equity Method Investments, Total	1.86M	8.92M	6.05M	6.39M	3.51M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	7.2M	7.05M	6.83M	6.57M	5.77M
Buildings, Total	-	-	-	-	-
Full Time Employees	17.64K	17.37K	19.46K	19.76K	20K
Accumulated Allowance for Doubtful Accounts (Supple)	8.72M	9.04M	4.7M	-	30.24M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	109M	184M	215M	160M	205M
Depreciation & Amortization - CF	49.21M	46.59M	47.77M	50.61M	46.69M
Amortization of Goodwill and Intangible Assets - (CF)	12.81M	13.66M	13.82M	15.53M	15.41M
Depreciation & Amortization, Total	62.02M	60.25M	61.59M	66.14M	62.1M
Amortization of Deferred Charges, Total - (CF)	16.21M	19.59M	26.6M	7.02M	6.58M
(Gain) Loss From Sale Of Asset	152K	-164K	187K	147K	-3.04M
Asset Writedown & Restructuring Costs	-	-	-	27.8M	-
(Income) Loss On Equity Investments - (CF)	711K	-1.67M	862K	390K	2.19M
Stock-Based Compensation (CF)	8.46M	11.15M	13.12M	14.98M	18.45M
Other Operating Activities, Total	37.27M	39.35M	21.89M	73.23M	65.52M
Change In Accounts Receivable	79.46M	-30.57M	9.52M	-58.86M	10.44M
Change In Accounts Payable	15.56M	18.67M	15.46M	-13.46M	-24.42M
Change in Other Net Operating Assets	39.58M	45.44M	-39.34M	7.07M	-3.95M
Cash from Operations	369M	346M	325M	284M	338M
Capital Expenditure	-35.07M	-43.51M	-54.82M	-58.54M	-70.34M
Sale of Property, Plant, and Equipment	285K	128K	594K	75K	83K
Cash Acquisitions	-13.23M	-29.08M	-7.28M	-46.79M	-34.62M
Investment in Marketable and Equity Securities, Total	-713K	-2M	-3.11M	-3.11M	1.23M
Other Investing Activities, Total	-	-	1K	-1K	-
Cash from Investing	-48.73M	-74.47M	-64.63M	-108M	-104M
Short Term Debt Issued, Total	464K	-	-	-	22K
Long-Term Debt Issued, Total	78.41M	81.27M	-	71.34M	359M
Total Debt Issued	78.87M	81.27M	-	71.34M	359M
Short Term Debt Repaid, Total	-	-1.03M	-763K	-168K	-
Long-Term Debt Repaid, Total	-287M	-208M	-68.55M	-165M	-398M
Total Debt Repaid	-287M	-209M	-69.31M	-165M	-398M
Issuance of Common Stock	2.54M	-	-	-	-
Repurchase of Common Stock	-	-8.69M	-29.94M	-85.76M	-39.05M
Common Dividends Paid	-19.77M	-39.82M	-51.07M	-58.96M	-71.24M
Common & Preferred Stock Dividends Paid	-19.77M	-39.82M	-51.07M	-58.96M	-71.24M
Other Financing Activities, Total	-35.26M	-19.5M	-20.32M	-21.16M	-17.25M
Cash from Financing	-260M	-196M	-171M	-260M	-167M
Foreign Exchange Rate Adjustments	-9.21M	6.56M	-2.56M	-11.52M	3.21M
Miscellaneous Cash Flow Adjustments	-1K	-1K	-	-12.03M	-6.37M
Net Change in Cash	50.52M	82.5M	87.22M	-108M	64.64M
Supplemental Items
Cash Interest Paid	-	-	-	-	9.6M
Cash Income Tax Paid (Refund)	27.76M	60.52M	62.51M	63.44M	74.13M
Levered Free Cash Flow	298M	245M	209M	213M	190M
Unlevered Free Cash Flow	315M	257M	222M	227M	202M
Change In Net Working Capital	-164M	-39.84M	13.83M	-6.36M	11.91M
Net Debt Issued / Repaid	-208M	-128M	-69.31M	-94.14M	-39.42M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.86	6.49	6.71	6.76	6.88
Return on Total Capital	5.13	8.92	9.28	9.37	9.63
Return On Equity %	9.8	15.19	15.52	11.29	13.92
Return on Common Equity	9.92	15.09	15.29	11.03	13.66
Margin Analysis
Gross Profit Margin %	64.25	64.72	66.27	67.49	68.74
SG&A Margin	54.81	50.85	52.83	53.57	54.82
EBITDA Margin %	9.88	13.63	13.47	13.79	13.83
EBITA Margin %	9.34	13.23	13.06	13.33	13.4
EBIT Margin %	8.64	12.6	12.48	12.68	12.77
Income From Continuing Operations Margin %	5.98	8.72	9.17	6.93	8.59
Net Income Margin %	5.96	8.57	8.95	6.68	8.38
Net Avail. For Common Margin %	5.96	8.57	8.95	6.68	8.38
Normalized Net Income Margin	4.26	7.29	7.3	7.23	7.46
Levered Free Cash Flow Margin	16.23	11.42	8.7	8.93	7.77
Unlevered Free Cash Flow Margin	17.17	11.98	9.21	9.49	8.28
Asset Turnover
Asset Turnover	0.71	0.82	0.86	0.85	0.86
Fixed Assets Turnover	10.54	13.83	15.71	16.27	17.9
Receivables Turnover (Average Receivables)	2.8	3.42	3.63	3.53	3.5
Short Term Liquidity
Current Ratio	1.23	1.51	1.55	1.48	1.12
Quick Ratio	1.2	1.47	1.51	1.45	1.09
Operating Cash Flow to Current Liabilities	0.5	0.5	0.45	0.4	0.34
Days Sales Outstanding (Average Receivables)	130.9	106.7	100.58	103.45	104.56
Average Days Payable Outstanding	165.22	150.51	153.47	161.57	161.42
Long Term Solvency
Total Debt/Equity	63.02	45.91	39.13	36.45	32.47
Total Debt / Total Capital	38.66	31.46	28.13	26.71	24.51
LT Debt/Equity	44.65	41.04	31.39	32.26	9.99
Long-Term Debt / Total Capital	27.39	28.13	22.56	23.64	7.54
Total Liabilities / Total Assets	54.64	50.96	47.39	47.96	45.86
EBIT / Interest Expense	5.79	13.93	15.34	14.18	15.81
EBITDA / Interest Expense	8.06	17.03	18.48	17.27	18.96
(EBITDA - Capex) / Interest Expense	6.78	14.79	15.68	14.53	15.39
Total Debt / EBITDA	3.2	1.86	1.62	1.41	1.37
Net Debt / EBITDA	2.22	0.96	0.56	0.66	0.45
Total Debt / (EBITDA - Capex)	3.81	2.15	1.91	1.68	1.69
Net Debt / (EBITDA - Capex)	2.64	1.11	0.66	0.79	0.56
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-8.28	16.83	12.05	-0.64	2.13
Gross Profit, 1 Yr. Growth %	-8.38	17.69	14.74	1.18	4.02
EBITDA, 1 Yr. Growth %	-15.71	48.01	3.81	1.72	2.38
EBITA, 1 Yr. Growth %	-16.24	51.24	3.41	1.44	2.71
EBIT, 1 Yr. Growth %	-17	70.28	11.02	0.94	2.89
Earnings From Cont. Operations, 1 Yr. Growth %	4.03	70.19	17.88	-24.96	26.62
Net Income, 1 Yr. Growth %	4.5	67.97	16.98	-25.76	28.05
Normalized Net Income, 1 Yr. Growth %	-18.21	99.84	12.22	-1.61	5.41
Diluted EPS Before Extra, 1 Yr. Growth %	4.74	66.26	17.33	-24.26	29.8
Accounts Receivable, 1 Yr. Growth %	-17.92	11.84	0.06	4.32	1.62
Net Property, Plant and Equip., 1 Yr. Growth %	-18.8	-1.25	-1.54	-6.6	-7.76
Total Assets, 1 Yr. Growth %	-7.33	10.67	4.15	-3.45	5.86
Tangible Book Value, 1 Yr. Growth %	-29.83	-64.89	-207.09	-67.98	367.98
Common Equity, 1 Yr. Growth %	0.03	20.81	11.07	-4.38	11.38
Cash From Operations, 1 Yr. Growth %	107.43	-6.22	-6.05	-12.57	19.08
Capital Expenditures, 1 Yr. Growth %	-18.88	24.08	26	6.77	20.16
Levered Free Cash Flow, 1 Yr. Growth %	275.95	-17.82	-14.62	1.93	-18.97
Unlevered Free Cash Flow, 1 Yr. Growth %	215.51	-18.44	-13.89	2.33	-18.36
Dividend Per Share, 1 Yr. Growth %	100	27.78	17.39	22.22	12.12
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.48	3.52	14.41	5.51	0.73
Gross Profit, 2 Yr. CAGR %	1.83	3.84	16.2	7.74	2.59
EBITDA, 2 Yr. CAGR %	-0.97	16.58	28.04	2.76	2.05
EBITA, 2 Yr. CAGR %	-1.05	17.75	29.3	2.42	2.07
EBIT, 2 Yr. CAGR %	-0.89	18.88	37.49	5.86	1.91
Earnings From Cont. Operations, 2 Yr. CAGR %	0.64	33.06	41.64	-5.95	-2.52
Net Income, 2 Yr. CAGR %	0.92	32.49	40.18	-6.81	-2.5
Normalized Net Income, 2 Yr. CAGR %	-7.13	27.85	49.75	5.08	1.84
Diluted EPS Before Extra, 2 Yr. CAGR %	0.62	31.96	39.66	-5.73	-0.85
Accounts Receivable, 2 Yr. CAGR %	-3.4	-4.19	5.79	2.17	2.96
Net Property, Plant and Equip., 2 Yr. CAGR %	103.05	-10.45	-1.39	-4.11	-7.18
Total Assets, 2 Yr. CAGR %	2.06	1.27	7.36	0.28	1.1
Tangible Book Value, 2 Yr. CAGR %	-24.38	-50.37	-38.68	-41.44	22.42
Common Equity, 2 Yr. CAGR %	4.2	9.93	15.84	3.06	3.2
Cash From Operations, 2 Yr. CAGR %	47.27	39.47	-6.13	-9.37	2.03
Capital Expenditures, 2 Yr. CAGR %	-15.41	0.32	25.03	15.99	13.27
Levered Free Cash Flow, 2 Yr. CAGR %	100.42	75.77	-16.24	-6.71	-4.8
Unlevered Free Cash Flow, 2 Yr. CAGR %	88.88	60.41	-16.2	-6.13	-4.51
Dividend Per Share, 2 Yr. CAGR %	1.13	59.86	22.47	19.78	17.06
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.06	7.06	6.29	9.16	4.37
Gross Profit, 3 Yr. CAGR %	0.68	6.87	7.35	10.96	6.49
EBITDA, 3 Yr. CAGR %	-4.11	16.5	14.61	18.58	2.63
EBITA, 3 Yr. CAGR %	-4.33	17.46	15.3	19.26	2.52
EBIT, 3 Yr. CAGR %	-4.25	18.71	16.2	24.03	4.86
Earnings From Cont. Operations, 3 Yr. CAGR %	-5.2	19.9	27.79	14.61	3.85
Net Income, 3 Yr. CAGR %	-5.2	19.6	27.1	13.41	3.6
Normalized Net Income, 3 Yr. CAGR %	-7.28	19.9	22.41	30.19	5.19
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.15	18.96	26.89	13.89	4.87
Accounts Receivable, 3 Yr. CAGR %	-1.38	1.43	-2.79	5.3	1.99
Net Property, Plant and Equip., 3 Yr. CAGR %	69.24	59.68	-7.58	-3.16	-5.34
Total Assets, 3 Yr. CAGR %	4.93	4.85	2.22	3.63	2.1
Tangible Book Value, 3 Yr. CAGR %	-11.79	-41.45	-35.86	-50.62	17.08
Common Equity, 3 Yr. CAGR %	5.16	9.46	10.31	8.66	5.76
Cash From Operations, 3 Yr. CAGR %	54.94	26.7	22.26	-8.33	-0.74
Capital Expenditures, 3 Yr. CAGR %	26.03	-3.89	8.24	18.62	17.36
Levered Free Cash Flow, 3 Yr. CAGR %	46.01	48.89	38.17	-10.57	-8.19
Unlevered Free Cash Flow, 3 Yr. CAGR %	42.03	42.76	30.37	-10.43	-7.74
Dividend Per Share, 3 Yr. CAGR %	1.14	9.33	44.22	22.39	17.17
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.58	3.79	6.2	6.44	4.03
Gross Profit, 5 Yr. CAGR %	0.53	3.67	6.63	7.22	5.42
EBITDA, 5 Yr. CAGR %	-1.9	7.99	9.5	12.24	9.41
EBITA, 5 Yr. CAGR %	-1.84	8.51	9.88	12.69	9.81
EBIT, 5 Yr. CAGR %	-1.6	9.31	10.66	13.39	10.26
Earnings From Cont. Operations, 5 Yr. CAGR %	2.77	11.26	11.31	8.8	14.67
Net Income, 5 Yr. CAGR %	3.32	11.46	10.86	8.24	14.31
Normalized Net Income, 5 Yr. CAGR %	-2.52	10.88	12.32	13.73	13.72
Diluted EPS Before Extra, 5 Yr. CAGR %	3.66	11.35	10.02	8.39	14.97
Accounts Receivable, 5 Yr. CAGR %	-1.14	1.19	1.43	1.73	-0.53
Net Property, Plant and Equip., 5 Yr. CAGR %	33.24	34.14	36.35	30.22	-7.42
Total Assets, 5 Yr. CAGR %	1.61	3.6	5.9	3	1.77
Tangible Book Value, 5 Yr. CAGR %	-15.09	-30.83	-23.73	-41.44	-16.94
Common Equity, 5 Yr. CAGR %	3.59	7.71	9.31	6.86	7.41
Cash From Operations, 5 Yr. CAGR %	17.04	15.66	26.79	10.81	13.73
Capital Expenditures, 5 Yr. CAGR %	8.26	19.8	25.63	3.62	10.22
Levered Free Cash Flow, 5 Yr. CAGR %	20.41	14.25	16.91	23.5	19.04
Unlevered Free Cash Flow, 5 Yr. CAGR %	18.59	12.82	15.01	20.72	15.11
Dividend Per Share, 5 Yr. CAGR %	2.38	6.23	9.18	13.4	32.68