Cash flow Volvo Car AB

Equities

VOLCAR B

SE0021628898

Auto & Truck Manufacturers

Real-time Estimate Cboe Europe Other stock markets 06:42:33 2024-12-13 am EST			5-day change	1st Jan Change
25.86 ^SEK	+3.88%		+2.09%	-20.61%

Dec. 12	Big bankers have retreated in a handful of large companies - Di	FW
Dec. 10	Volvo Cars Secures EUR2 Billion Sustainability-linked Revolving Credit Facilities	MT

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Published financial data: VOLVO CAR AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	274B	263B	282B	330B	399B
Total Revenues	274B	263B	282B	330B	399B
Cost of Goods Sold, Total	222B	218B	222B	270B	322B
Gross Profit	52.07B	45.01B	60.41B	60.33B	77.62B
Selling General & Admin Expenses, Total	26.99B	24.45B	27.89B	32.71B	38.6B
R&D Expenses	11.45B	11.36B	13.13B	11.51B	12.88B
Other Operating Expenses	-86M	531M	-46M	-756M	-991M
Other Operating Expenses, Total	38.35B	36.35B	40.97B	43.47B	50.49B
Operating Income	13.72B	8.66B	19.44B	16.86B	27.13B
Interest Expense, Total	-1.23B	-1.14B	-1.07B	-819M	-2B
Interest And Investment Income	575M	675M	600M	852M	2.79B
Net Interest Expenses	-652M	-466M	-472M	33M	794M
Income (Loss) On Equity Invest.	-168M	-352M	-951M	4.44B	-5.63B
Currency Exchange Gains (Loss)	460M	-1.06B	1.82B	888M	-1.59B
Other Non Operating Income (Expenses)	-190M	-184M	-163M	-590M	501M
EBT, Excl. Unusual Items	13.17B	6.59B	19.68B	21.64B	21.21B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-4M	-17M	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	1.94B	-900M	-822M	-152M
Asset Writedown	-	-	-	-	-194M
Other Unusual Items	-	1.01B	-	-	-
EBT, Incl. Unusual Items	13.17B	9.55B	18.76B	20.82B	20.86B
Income Tax Expense	3.56B	1.76B	4.58B	3.81B	6.79B
Earnings From Continuing Operations	9.6B	7.79B	14.18B	17B	14.07B
Net Income to Company	9.6B	7.79B	14.18B	17B	14.07B
Minority Interest	-2.49B	-1.95B	-1.63B	-1.43B	-1.01B
Net Income - (IS)	7.12B	5.83B	12.55B	15.58B	13.05B
Preferred Dividend and Other Adjustments	35.01M	158M	360M	-	-
Net Income to Common Incl Extra Items	7.08B	5.68B	12.19B	15.58B	13.05B
Net Income to Common Excl. Extra Items	7.08B	5.68B	12.19B	15.58B	13.05B
Per Share Items
Net EPS - Basic	141.6	113.52	4.72	5.23	4.38
Basic EPS - Continuing Operations	141.6	113.52	4.72	5.23	4.38
Basic Weighted Average Shares Outstanding	50M	50M	2.58B	2.98B	2.98B
Net EPS - Diluted	141.6	113.52	4.72	5.23	4.38
Diluted EPS - Continuing Operations	141.6	113.52	4.72	5.23	4.38
Diluted Weighted Average Shares Outstanding	50M	50M	2.58B	2.98B	2.98B
Normalized Basic EPS	114.84	43.34	4.13	4.06	4.11
Normalized Diluted EPS	114.84	43.34	4.13	4.06	4.11
Dividend Per Share	2.9	-	-	-	-
Payout Ratio	21.25	-	83.39	-	-
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	22.9B	17.48B	27.44B	25.56B	35.99B
EBITA	14.19B	9.17B	20.23B	17.65B	28.05B
EBIT	13.72B	8.66B	19.44B	16.86B	27.13B
EBITDAR	23.1B	17.66B	27.69B	25.84B	36.41B
Effective Tax Rate - (Ratio)	27.07	18.42	24.43	18.31	32.57
Total Current Taxes	3.14B	3.15B	3.59B	3.66B	5.37B
Total Deferred Taxes	300M	-1.18B	1.44B	282M	1.49B
Normalized Net Income	5.74B	2.17B	10.67B	12.1B	12.24B
Interest Capitalized	146M	144M	201M	419M	1.06B
Interest on Long-Term Debt	242M	209M	215M	220M	240M
Non-Cash Pension Expense	248M	314M	212M	274M	257M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	17.29B	15.71B	19.21B	21B	26.06B
General and Administrative Expenses	9.49B	8.54B	8.48B	11.48B	12.54B
Research And Development Expense From Footnotes	11.45B	11.36B	13.13B	11.51B	12.88B
Net Rental Expense, Total	206M	181M	251M	279M	419M
Imputed Operating Lease Interest Expense	75.38M	48.49M	70.27M	81.76M	286M
Imputed Operating Lease Depreciation	131M	133M	181M	197M	133M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	52B	61.59B	62.26B	63.74B	47.86B
Short Term Investments	3.52B	8.09B	8B	3.42B	9.92B
Total Cash And Short Term Investments	55.52B	69.68B	70.26B	67.16B	57.78B
Accounts Receivable, Total	13.24B	14.78B	18.55B	25.24B	19.28B
Other Receivables	7.52B	8.61B	8.25B	11.46B	10.52B
Total Receivables	20.76B	23.38B	26.81B	36.7B	29.81B
Inventory	38.91B	35.51B	36.6B	46.95B	57.06B
Prepaid Expenses	2.14B	2.3B	4.53B	5.8B	9.57B
Restricted Cash	185M	103M	4M	736M	752M
Other Current Assets, Total	-	7.85B	4.73B	1.77B	1.99B
Total Current Assets	118B	139B	143B	159B	157B
Gross Property Plant And Equipment	151B	141B	158B	173B	181B
Accumulated Depreciation	-77.94B	-78.79B	-86.75B	-95.6B	-97.25B
Net Property Plant And Equipment	72.98B	61.94B	70.9B	77.25B	84.11B
Long-term Investments	7.7B	12.45B	8.7B	19.95B	26.21B
Goodwill	-	-	-	-	-
Other Intangibles, Total	8.45B	9.75B	10.21B	37.84B	49.73B
Loans Receivable Long-Term	-	-	5.05B	3.35B	1.33B
Deferred Tax Assets Long-Term	7.28B	7.16B	7.37B	9.13B	10.14B
Deferred Charges Long-Term	24.33B	27.42B	33.63B	19.15B	22.37B
Other Long-Term Assets, Total	3.31B	4.76B	5.03B	5.12B	5.52B
Total Assets	242B	262B	284B	331B	356B
Liabilities
Accounts Payable, Total	44.88B	46.64B	48.28B	68.91B	62.3B
Accrued Expenses, Total	18.47B	23.8B	23.06B	28.49B	33.43B
Current Portion of Long-Term Debt	4.1B	7.53B	4.47B	2.76B	7.6B
Current Portion of Leases	1.07B	1.18B	1.48B	1.52B	1.27B
Current Income Taxes Payable	1.3B	1.49B	1.4B	1.57B	1.61B
Unearned Revenue Current, Total	20.48B	21.84B	22.93B	26.09B	30.82B
Other Current Liabilities	25.44B	23.88B	24.49B	20.04B	23.97B
Total Current Liabilities	116B	126B	126B	149B	161B
Long-Term Debt	26.13B	26.83B	20.94B	26.06B	22.65B
Long-Term Leases	5.08B	4.82B	5.51B	4.84B	4.79B
Unearned Revenue Non Current	5.21B	5.63B	6.97B	7.14B	8.15B
Pension & Other Post Retirement Benefits	12.58B	14.19B	11.96B	6.88B	7.61B
Deferred Tax Liability Non Current	975M	1.04B	2.34B	5.39B	8.29B
Other Non Current Liabilities	12.2B	13.03B	15.01B	13.95B	13.4B
Total Liabilities	178B	192B	189B	214B	226B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	51M	51M	61M	61M	61M
Additional Paid In Capital	19.95B	19.95B	40.11B	40.11B	40.11B
Retained Earnings	37.17B	40.32B	49.84B	68.35B	80.1B
Comprehensive Income and Other	-3.29B	-911M	409M	5.43B	6.11B
Total Common Equity	53.88B	59.41B	90.42B	114B	126B
Minority Interest	9.76B	11.01B	4.56B	3.33B	4.11B
Total Equity	63.65B	70.42B	94.98B	117B	130B
Total Liabilities And Equity	242B	262B	284B	331B	356B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	50M	50M	2.98B	2.98B	2.98B
ECS Total Common Shares Outstanding	50M	50M	2.98B	2.98B	2.98B
Book Value / Share	1.08K	1.19K	30.35	38.24	42.41
Tangible Book Value	45.43B	49.67B	80.21B	76.1B	76.64B
Tangible Book Value Per Share	908.6	993.32	26.92	25.54	25.72
Total Debt	36.39B	40.35B	32.4B	35.17B	36.3B
Net Debt	-19.13B	-29.33B	-37.86B	-31.99B	-21.48B
Debt Equivalent of Unfunded Proj. Benefit Obligation	12.58B	14.19B	11.96B	6.88B	7.61B
Debt Equivalent Oper. Leases	1.65B	1.45B	2.01B	2.23B	3.35B
Minority Interest, Total (Incl. Fin. Div)	9.76B	11.01B	4.56B	3.33B	4.11B
Equity Method Investments, Total	7.41B	10B	6.93B	15.6B	14.14B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	112M	106M	189M	135M	135M
Inventories - Work In Process, Total	8.36B	7.56B	10.73B	13.5B	11.6B
Inventories - Finished Goods, Total	21.7B	19.66B	19.54B	28.58B	38.98B
Inventories - Others	8.74B	8.19B	6.15B	4.73B	6.35B
Buildings, Total	24.09B	23.65B	24.96B	27.15B	30.04B
Machinery, Total	111B	101B	109B	115B	113B
Full Time Employees	41.52K	40.13K	43.07K	42.73K	40.5K
Part Time Employees	-	-	-	3.62K	4.09K
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	128M	113M	127M	128M	126M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	7.12B	5.83B	12.55B	15.58B	13.05B
Depreciation & Amortization - CF	9.91B	9.58B	9.15B	10.23B	10.8B
Amortization of Goodwill and Intangible Assets - (CF)	472M	508M	792M	786M	921M
Depreciation & Amortization, Total	10.38B	10.09B	9.94B	11.01B	11.72B
Amortization of Deferred Charges, Total - (CF)	5.16B	4.34B	4.97B	5.05B	5.54B
(Gain) Loss From Sale Of Asset	388M	1.25B	5.26B	1.14B	1.27B
Asset Writedown & Restructuring Costs	10M	22M	89M	29M	194M
(Income) Loss On Equity Investments - (CF)	168M	352M	951M	-4.44B	5.63B
Other Operating Activities, Total	-761M	1.06B	-2.27B	-1.31B	2.64B
Change In Accounts Receivable	694M	-2.14B	2.84B	-776M	4.75B
Change In Inventories	-3.07B	-454M	3.64B	-7.35B	-11.34B
Change In Accounts Payable	1.97B	5.18B	-3.33B	18.53B	-2.92B
Change in Unearned Revenues	6.5B	3.87B	2.24B	5.94B	8.71B
Change in Other Net Operating Assets	3.82B	4.54B	-7.04B	-9.81B	3.63B
Cash from Operations	32.37B	33.95B	29.85B	33.6B	42.87B
Capital Expenditure	-11.81B	-9.99B	-11.35B	-13.78B	-18.48B
Sale of Property, Plant, and Equipment	353M	431M	123M	161M	642M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-9.18B	-8.57B	-11.97B	-18.33B	-20.68B
Investment in Marketable and Equity Securities, Total	-235M	-4.12B	-11.39B	-7.31B	-1.33B
Other Investing Activities, Total	64M	1.58B	-150M	-400M	-11.99B
Cash from Investing	-20.8B	-20.67B	-34.74B	-39.66B	-51.84B
Long-Term Debt Issued, Total	9.58B	10.22B	1.58B	6.3B	5.47B
Total Debt Issued	9.58B	10.22B	1.58B	6.3B	5.47B
Long-Term Debt Repaid, Total	-4.91B	-5.96B	-12.47B	-6.24B	-4.42B
Total Debt Repaid	-4.91B	-5.96B	-12.47B	-6.24B	-4.42B
Issuance of Common Stock	-	-	20.81B	-	-
Issuance of Preferred Stock	5.01B	-	-	-	-
Repurchase of Preferred Stock	-5.74B	-	-	-	-
Common Dividends Paid	-1.39B	-	-	-	-
Preferred Dividends Paid	-125M	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-10.46B	-	-
Common & Preferred Stock Dividends Paid	-1.51B	-	-10.46B	-	-
Other Financing Activities, Total	-3.26B	-5.09B	1.72B	4.91B	-6.3B
Cash from Financing	-831M	-834M	1.18B	4.97B	-5.25B
Foreign Exchange Rate Adjustments	1.08B	-2.85B	4.38B	2.57B	-1.66B
Net Change in Cash	11.83B	9.6B	673M	1.48B	-15.88B
Supplemental Items
Cash Interest Paid	854M	1.27B	1.14B	1.35B	1.71B
Cash Income Tax Paid (Refund)	4.09B	2.86B	3.67B	4.22B	4.49B
Levered Free Cash Flow	9B	256M	2.07B	-1.34B	-6.39B
Unlevered Free Cash Flow	9.77B	969M	2.74B	-830M	-5.14B
Change In Net Working Capital	-6.64B	311M	1.01B	-4.68B	190M
Net Debt Issued / Repaid	4.67B	4.26B	-10.89B	59M	1.05B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.79	2.14	4.45	3.43	4.93
Return on Total Capital	9.27	5.14	10.2	7.55	10.62
Return On Equity %	15.38	11.62	17.14	16.06	11.35
Return on Common Equity	13.26	10.02	16.27	15.26	10.86
Margin Analysis
Gross Profit Margin %	19	17.12	21.42	18.27	19.44
SG&A Margin	9.85	9.3	9.89	9.91	9.66
EBITDA Margin %	8.35	6.65	9.73	7.74	9.01
EBITA Margin %	5.18	3.49	7.17	5.35	7.02
EBIT Margin %	5	3.3	6.89	5.11	6.79
Income From Continuing Operations Margin %	3.5	2.96	5.03	5.15	3.52
Net Income Margin %	2.6	2.22	4.45	4.72	3.27
Net Avail. For Common Margin %	2.58	2.16	4.32	4.72	3.27
Normalized Net Income Margin	2.09	0.82	3.78	3.66	3.07
Levered Free Cash Flow Margin	3.28	0.1	0.73	-0.41	-1.6
Unlevered Free Cash Flow Margin	3.56	0.37	0.97	-0.25	-1.29
Asset Turnover
Asset Turnover	1.21	1.04	1.03	1.07	1.16
Fixed Assets Turnover	4.01	3.9	4.25	4.44	4.95
Receivables Turnover (Average Receivables)	20.34	18.76	16.92	15.08	17.94
Inventory Turnover (Average Inventory)	6	5.85	6.15	6.46	6.19
Short Term Liquidity
Current Ratio	1.02	1.1	1.13	1.07	0.97
Quick Ratio	0.66	0.74	0.77	0.7	0.54
Operating Cash Flow to Current Liabilities	0.28	0.27	0.24	0.22	0.27
Days Sales Outstanding (Average Receivables)