Cash flow Safran

Equities

SAF

FR0000073272

Aerospace & Defense

Market Closed - Euronext Paris Other stock markets 11:35:13 2024-09-17 am EDT			5-day change	1st Jan Change
202.50 ^EUR	-0.39%		+4.35%	+26.99%

Sep. 13	Safran: contract to supply PASEO sighting system	CF
Sep. 12	RBC Capital Begins Safran Coverage at Outperform	MT

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Published financial data: SAFRAN

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	25.1B	16.63B	15.13B	19.52B	23.65B
Other Revenues, Total	166M	149M	160M	151M	-
Total Revenues	25.26B	16.78B	15.29B	19.67B	23.65B
Cost of Goods Sold, Total	13.48B	8.91B	7.66B	10.27B	12.44B
Gross Profit	11.79B	7.87B	7.64B	9.4B	11.21B
Selling General & Admin Expenses, Total	6.36B	5.1B	5B	5.88B	6.98B
Provision for Bad Debts	-4M	83M	15M	25M	5M
Depreciation & Amortization - (IS)	1.6B	1.21B	1.51B	1.17B	1.28B
Other Operating Expenses	131M	51M	-135M	-127M	-240M
Other Operating Expenses, Total	8.09B	6.45B	6.39B	6.96B	8.03B
Operating Income	3.7B	1.42B	1.25B	2.45B	3.18B
Interest Expense, Total	-81M	-80M	-102M	-88M	-119M
Interest And Investment Income	51M	24M	19M	45M	237M
Net Interest Expenses	-30M	-56M	-83M	-43M	118M
Income (Loss) On Equity Invest.	164M	48M	40M	73M	99M
Currency Exchange Gains (Loss)	-283M	-257M	-497M	-5.07B	1.85B
Other Non Operating Income (Expenses)	-37M	-37M	-11M	10M	-7M
EBT, Excl. Unusual Items	3.51B	1.12B	695M	-2.58B	5.24B
Restructuring Charges	-	-182M	-79M	-	-45M
Merger & Related Restructuring Charges	-25M	-	-	-13M	-24M
Impairment of Goodwill	-	-	-	-319M	-327M
Gain (Loss) On Sale Of Investments	-5M	-4M	-3M	-54M	14M
Gain (Loss) On Sale Of Assets	-15M	-7M	-17M	-37M	-
Asset Writedown	-42M	-303M	-161M	-119M	-36M
Other Unusual Items	49M	-50M	-167M	6M	-67M
EBT, Incl. Unusual Items	3.47B	570M	268M	-3.12B	4.76B
Income Tax Expense	962M	184M	200M	-694M	1.24B
Earnings From Continuing Operations	2.51B	386M	68M	-2.43B	3.52B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	2.51B	386M	68M	-2.43B	3.52B
Minority Interest	-65M	-34M	-25M	-33M	-76M
Net Income - (IS)	2.45B	352M	43M	-2.46B	3.44B
Net Income to Common Incl Extra Items	2.45B	352M	43M	-2.46B	3.44B
Net Income to Common Excl. Extra Items	2.45B	352M	43M	-2.46B	3.44B
Per Share Items
Net EPS - Basic	5.69	0.83	0.1	-5.76	8.24
Basic EPS - Continuing Operations	5.69	0.83	0.1	-5.76	8.24
Basic Weighted Average Shares Outstanding	430M	426M	427M	427M	418M
Net EPS - Diluted	5.63	0.8	0.1	-5.76	8.07
Diluted EPS - Continuing Operations	5.63	0.8	0.1	-5.76	8.07
Diluted Weighted Average Shares Outstanding	435M	440M	440M	427M	431M
Normalized Basic EPS	4.96	1.56	0.96	-3.86	7.66
Normalized Diluted EPS	4.9	1.51	0.93	-3.86	7.42
Dividend Per Share	-	0.43	0.5	1.35	2.2
Payout Ratio	32.08	-	425.58	-8.66	16.38
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	5.05B	2.75B	2.52B	3.75B	4.41B
EBITA	4.43B	2.15B	1.92B	2.45B	3.18B
EBIT	3.7B	1.42B	1.25B	2.45B	3.18B
EBITDAR	-	2.82B	2.6B	3.83B	4.61B
Total Revenues (As Reported)	25.4B	16.9B	15.51B	19.96B	24.12B
Effective Tax Rate - (Ratio)	27.69	32.28	74.63	22.24	25.99
Total Current Taxes	1.1B	278M	379M	585M	928M
Total Deferred Taxes	-133M	-94M	-179M	-1.28B	308M
Normalized Net Income	2.13B	664M	409M	-1.65B	3.2B
Interest Capitalized	8M	8M	5M	5M	4M
Interest on Long-Term Debt	10M	8M	13M	14M	14M
Non-Cash Pension Expense	18M	4M	-6M	2M	9M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1.32B	905M	997M	977M	1.42B
Net Rental Expense, Total	-	68M	79M	85M	198M
Imputed Operating Lease Interest Expense	-	6.68M	9.53M	8.95M	28.71M
Imputed Operating Lease Depreciation	-	61.32M	69.47M	76.05M	169M
Stock-Based Comp., SG&A Exp. (Total)	49M	10M	25M	32.9M	64.2M
Stock-Based Comp., Other (Total)	-	5M	-	-	-
Total Stock-Based Compensation	49M	15M	25M	32.9M	64.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.63B	3.75B	5.25B	6.69B	6.68B
Short Term Investments	143M	126M	-	-	-
Total Cash And Short Term Investments	2.78B	3.87B	5.25B	6.69B	6.68B
Accounts Receivable, Total	7.95B	6.07B	6.68B	7.98B	8.99B
Other Receivables	1.12B	1.14B	1.33B	1.16B	1.42B
Total Receivables	9.07B	7.21B	8.02B	9.14B	10.41B
Inventory	6.31B	5.19B	5.06B	6.41B	7.9B
Prepaid Expenses	109M	90M	105M	131M	187M
Other Current Assets, Total	1.81B	1.82B	2.15B	2.63B	4.2B
Total Current Assets	20.07B	18.19B	20.58B	25B	29.38B
Gross Property Plant And Equipment	10.78B	10.81B	11.33B	11.48B	12.28B
Accumulated Depreciation	-5.64B	-6.14B	-6.79B	-7.07B	-7.58B
Net Property Plant And Equipment	5.13B	4.68B	4.54B	4.41B	4.7B
Long-term Investments	2.68B	2.61B	2.26B	1.99B	1.93B
Goodwill	5.2B	5.06B	5.07B	4.99B	4.71B
Other Intangibles, Total	5.4B	4.8B	4.5B	4.17B	3.91B
Deferred Tax Assets Long-Term	251M	316M	449M	1.58B	1.12B
Deferred Charges Long-Term	4.08B	3.88B	3.88B	3.92B	3.92B
Other Long-Term Assets, Total	-	4M	432M	760M	804M
Total Assets	42.81B	39.53B	41.72B	46.83B	50.47B
Liabilities
Accounts Payable, Total	3.2B	2.12B	2.35B	3.11B	4.29B
Accrued Expenses, Total	1.85B	1.38B	1.42B	1.78B	2.3B
Short-term Borrowings	2.45B	1.54B	770M	625M	587M
Current Portion of Long-Term Debt	972M	857M	853M	546M	910M
Current Portion of Leases	121M	114M	97M	106M	111M
Current Income Taxes Payable	111M	118M	109M	105M	104M
Unearned Revenue Current, Total	11.87B	10.53B	11.18B	14.02B	16.35B
Other Current Liabilities	2.31B	2.36B	3.05B	7.18B	6.14B
Total Current Liabilities	22.88B	19.03B	19.83B	27.48B	30.79B
Long-Term Debt	3.14B	4.03B	4.92B	5.22B	4.52B
Long-Term Leases	608M	494M	512M	481M	469M
Deferred Tax Liability Non Current	1.34B	1.28B	1.28B	1.16B	1.02B
Other Non Current Liabilities	2.1B	1.94B	1.91B	1.62B	1.58B
Total Liabilities	30.06B	26.78B	28.45B	35.96B	38.38B
Common Stock, Total	85M	85M	85M	85M	85M
Additional Paid In Capital	4.69B	4.69B	4.69B	4.69B	4.69B
Retained Earnings	2.45B	352M	43M	-2.46B	3.44B
Treasury Stock	-303M	-36M	-50M	-310M	-1.85B
Comprehensive Income and Other	5.45B	7.26B	8.08B	8.41B	5.21B
Total Common Equity	12.37B	12.35B	12.84B	10.41B	11.58B
Minority Interest	377M	401M	429M	455M	511M
Total Equity	12.75B	12.75B	13.27B	10.87B	12.09B
Total Liabilities And Equity	42.81B	39.53B	41.72B	46.83B	50.47B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	425M	427M	427M	425M	414M
ECS Total Common Shares Outstanding	425M	427M	427M	425M	414M
Book Value / Share	29.13	28.93	30.09	24.52	28
Tangible Book Value	1.77B	2.49B	3.27B	1.24B	2.96B
Tangible Book Value Per Share	4.17	5.84	7.67	2.93	7.17
Total Debt	7.28B	7.04B	7.15B	6.98B	6.6B
Net Debt	4.51B	3.16B	1.9B	288M	-77M
Debt Equivalent of Unfunded Proj. Benefit Obligation	973M	946M	710M	560M	647M
Debt Equivalent Oper. Leases	-	544M	632M	680M	1.58B
Minority Interest, Total (Incl. Fin. Div)	377M	401M	429M	455M	511M
Equity Method Investments, Total	2.21B	2.13B	1.97B	1.97B	1.93B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	1.43B	1.28B	1.21B	1.54B	1.93B
Inventories - Work In Process, Total	1.84B	1.34B	1.44B	1.9B	2.41B
Inventories - Finished Goods, Total	3.04B	2.57B	2.41B	2.97B	3.56B
Land - (BS)	231M	226M	225M	223M	230M
Buildings, Total	2.1B	2.13B	2.3B	2.41B	2.49B
Machinery, Total	655M	685M	713M	691M	751M
Full Time Employees	91.61K	78.9K	77.01K	83.22K	87.06K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	253M	321M	345M	382M	379M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.45B	352M	43M	-2.46B	3.44B
Depreciation & Amortization - CF	727M	715M	701M	1.4B	1.34B
Amortization of Goodwill and Intangible Assets - (CF)	736M	732M	679M	-	-
Depreciation & Amortization, Total	1.46B	1.45B	1.38B	1.4B	1.34B
Amortization of Deferred Charges, Total - (CF)	-9M	-3M	-8M	-	-
Minority Interest in Earnings - (CF)	65M	34M	25M	33M	76M
(Gain) Loss From Sale Of Asset	-41M	20M	-57M	289M	344M
(Gain) Loss on Sale of Investments - (CF)	5M	4M	3M	-	-
Asset Writedown & Restructuring Costs	42M	355M	311M	411M	148M
(Income) Loss On Equity Investments - (CF)	-87M	22M	702M	11M	-83M
Provision and Write-off of Bad Debts	-4M	84M	17M	-	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	161M	-441M	-230M	3.13B	-1.75B
Change In Accounts Receivable	-345M	-941M	78M	2.37B	2.55B
Change In Inventories	-590M	1.02B	296M	-1.54B	-1.49B
Change in Other Net Operating Assets	38M	-83M	-124M	-96M	-299M
Cash from Operations	3.14B	1.87B	2.44B	3.54B	4.27B
Capital Expenditure	-768M	-468M	-442M	-536M	-832M
Sale of Property, Plant, and Equipment	73M	19M	55M	38M	9M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-467M	-344M	-369M	-381M	-502M
Investment in Marketable and Equity Securities, Total	57M	-6M	18M	-409M	-379M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-1.1B	-799M	-738M	-1.29B	-1.7B
Short Term Debt Issued, Total	1.26B	-	-	-	-
Long-Term Debt Issued, Total	24M	1.6B	2.15B	510M	17M
Total Debt Issued	1.28B	1.6B	2.15B	510M	17M
Short Term Debt Repaid, Total	-	-831M	-775M	-159M	-161M
Long-Term Debt Repaid, Total	-902M	-788M	-1.38B	-671M	-316M
Total Debt Repaid	-902M	-1.62B	-2.15B	-830M	-477M
Issuance of Common Stock	2M	96M	1M	-	2M
Repurchase of Common Stock	-1.3B	-	-73M	-270M	-1.54B
Common Dividends Paid	-785M	-	-183M	-213M	-564M
Common & Preferred Stock Dividends Paid	-785M	-	-183M	-213M	-564M
Other Financing Activities, Total	-41M	-4M	-5M	-12M	-19M
Cash from Financing	-1.74B	68M	-268M	-815M	-2.58B
Foreign Exchange Rate Adjustments	2M	-20M	70M	-2M	-1M
Net Change in Cash	302M	1.12B	1.5B	1.44B	-11M
Supplemental Items
Cash Interest Paid	93M	72M	79M	87M	116M
Cash Income Tax Paid (Refund)	887M	143M	302M	233M	850M
Levered Free Cash Flow	1.34B	1.65B	2B	7.11B	571M
Unlevered Free Cash Flow	1.39B	1.7B	2.06B	7.16B	645M
Change In Net Working Capital	1.19B	-163M	-696M	-5.12B	1.41B
Net Debt Issued / Repaid	383M	-24M	-8M	-320M	-460M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.54	2.15	1.92	3.46	4.09
Return on Total Capital	12	4.45	3.87	8	10.89
Return On Equity %	20.06	3.03	0.52	-20.1	30.67
Return on Common Equity	20.12	2.85	0.34	-21.15	31.33
Margin Analysis
Gross Profit Margin %	46.66	46.88	49.94	47.79	47.4
SG&A Margin	25.18	30.41	32.71	29.9	29.53
EBITDA Margin %