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Faes Farma SA
Buy, Hold or Sell?

Let's analyze Faes Farma SA together

I guess you are interested in Faes Farma SA. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Faes Farma SA. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Faes Farma SA (30 sec.)










1.2. What can you expect buying and holding a share of Faes Farma SA? (30 sec.)

How much money do you get?

How much money do you get?
€0.20
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
€2.13
Expected worth in 1 year
€2.92
How sure are you?
100.0%

+ What do you gain per year?

Total Gains per Share
€0.97
Return On Investment
27.4%

For what price can you sell your share?

Current Price per Share
€3.56
Expected price per share
€3.34 - €3.6254
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Faes Farma SA (5 min.)




Live pricePrice per Share (EOD)
€3.56
Intrinsic Value Per Share
€-1.78 - €0.44
Total Value Per Share
€0.35 - €2.57

2.2. Growth of Faes Farma SA (5 min.)




Is Faes Farma SA growing?

Current yearPrevious yearGrowGrow %
How rich?$690.4m$626.8m$63.5m9.2%

How much money is Faes Farma SA making?

Current yearPrevious yearGrowGrow %
Making money$95.6m$93.1m$2.5m2.6%
Net Profit Margin20.4%20.4%--

How much money comes from the company's main activities?

2.3. Financial Health of Faes Farma SA (5 min.)




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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Faes Farma SA?

Welcome investor! Faes Farma SA's management wants to use your money to grow the business. In return you get a share of Faes Farma SA.

First you should know what it really means to hold a share of Faes Farma SA. And how you can make/lose money.

Speculation

The Price per Share of Faes Farma SA is €3.555. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Faes Farma SA.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Faes Farma SA, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is €2.13. Based on the TTM, the Book Value Change Per Share is €0.20 per quarter. Based on the YOY, the Book Value Change Per Share is €0.21 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is €0.05 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Faes Farma SA.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps0.318.6%0.318.6%0.308.4%0.277.5%0.205.5%
Usd Book Value Change Per Share0.205.7%0.205.7%0.216.0%0.205.7%0.164.4%
Usd Dividend Per Share0.051.4%0.051.4%0.061.7%0.051.3%0.030.9%
Usd Total Gains Per Share0.257.1%0.257.1%0.287.7%0.257.0%0.195.3%
Usd Price Per Share3.29-3.29-3.65-3.88-3.37-
Price to Earnings Ratio10.70-10.70-12.20-15.04-19.32-
Price-to-Total Gains Ratio13.00-13.00-13.26-15.91-19.51-
Price to Book Ratio1.48-1.48-1.81-2.27-2.62-
Price-to-Total Gains Ratio13.00-13.00-13.26-15.91-19.51-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share3.700044
Number of shares270
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.050.05
Usd Book Value Change Per Share0.200.20
Usd Total Gains Per Share0.250.25
Gains per Quarter (270 shares)68.3367.22
Gains per Year (270 shares)273.30268.87
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
15322126350219259
2106441536100438528
3158662809150657797
421188210821998761066
52641103135524910951335
63171323162829913141604
73691544190134915331873
84221764217439917522142
94751985244744919712411
105282206272049921902680

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%19.00.00.0100.0%
Book Value Change Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%18.01.00.094.7%
Dividend per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%19.00.00.0100.0%
Total Gains per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%18.01.00.094.7%
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3.2. Key Performance Indicators

The key performance indicators of Faes Farma SA compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.1960.1960%0.206-5%0.195+1%0.150+31%
Book Value Per Share--2.1312.1310%1.935+10%1.729+23%1.330+60%
Current Ratio--3.3443.3440%3.317+1%3.375-1%3.263+2%
Debt To Asset Ratio--0.1450.1450%0.170-15%0.160-9%0.172-15%
Debt To Equity Ratio--0.1700.1700%0.205-17%0.191-11%0.211-19%
Dividend Per Share--0.0470.0470%0.058-20%0.044+6%0.030+55%
Enterprise Value--918617814.720918617814.7200%1053192961.920-13%1128515142.579-19%980122210.794-6%
Eps--0.2950.2950%0.288+3%0.258+15%0.188+57%
Ev To Ebitda Ratio--7.4727.4720%8.679-14%10.645-30%13.008-43%
Ev To Sales Ratio--2.0362.0360%2.400-15%2.844-28%3.152-35%
Free Cash Flow Per Share---0.004-0.0040%0.083-105%0.092-104%0.100-104%
Free Cash Flow To Equity Per Share---0.118-0.1180%0.024-596%0.001-10521%0.046-357%
Gross Profit Margin--0.7370.7370%0.737+0%0.702+5%0.677+9%
Intrinsic Value_10Y_max--0.442--------
Intrinsic Value_10Y_min---1.784--------
Intrinsic Value_1Y_max--0.088--------
Intrinsic Value_1Y_min---0.009--------
Intrinsic Value_3Y_max--0.232--------
Intrinsic Value_3Y_min---0.175--------
Intrinsic Value_5Y_max--0.335--------
Intrinsic Value_5Y_min---0.500--------
Market Cap1106490166.560+11%983546814.720983546814.7200%1092483961.920-10%1160211742.579-15%1007917610.794-2%
Net Profit Margin--0.2040.2040%0.2040%0.197+3%0.174+17%
Operating Margin--0.2290.2290%0.233-1%0.228+0%0.211+9%
Operating Ratio--1.0001.0000%0.767+30%0.811+23%0.807+24%
Pb Ratio1.668+11%1.4831.4830%1.814-18%2.274-35%2.617-43%
Pe Ratio12.040+11%10.70210.7020%12.200-12%15.045-29%19.320-45%
Price Per Share3.555+11%3.1603.1600%3.510-10%3.728-15%3.238-2%
Price To Free Cash Flow Ratio-906.216-13%-805.526-805.5260%42.279-2005%-131.089-84%-52.446-93%
Price To Total Gains Ratio14.621+11%12.99712.9970%13.265-2%15.912-18%19.507-33%
Quick Ratio--1.8881.8880%2.286-17%2.209-15%2.264-17%
Return On Assets--0.1180.1180%0.123-4%0.126-6%0.114+4%
Return On Equity--0.1390.1390%0.149-7%0.150-7%0.138+0%
Total Gains Per Share--0.2430.2430%0.265-8%0.239+2%0.180+35%
Usd Book Value--690413639.200690413639.2000%626851983.200+10%559997236.000+23%430787432.240+60%
Usd Book Value Change Per Share--0.2040.2040%0.215-5%0.203+1%0.156+31%
Usd Book Value Per Share--2.2182.2180%2.014+10%1.799+23%1.384+60%
Usd Dividend Per Share--0.0490.0490%0.061-20%0.046+6%0.031+55%
Usd Enterprise Value--956097421.561956097421.5610%1096163234.766-13%1174558560.396-19%1020111196.994-6%
Usd Eps--0.3070.3070%0.299+3%0.268+15%0.196+57%
Usd Free Cash Flow---1270816.800-1270816.8000%26894272.000-105%29932159.040-104%32479412.960-104%
Usd Free Cash Flow Per Share---0.004-0.0040%0.086-105%0.096-104%0.104-104%
Usd Free Cash Flow To Equity Per Share---0.122-0.1220%0.025-596%0.001-10521%0.048-357%
Usd Market Cap1151634965.356+11%1023675524.7611023675524.7610%1137057307.566-10%1207548381.676-15%1049040649.314-2%
Usd Price Per Share3.700+11%3.2893.2890%3.653-10%3.880-15%3.370-2%
Usd Profit--95651601.60095651601.6000%93147436.800+3%83326239.840+15%61032303.840+57%
Usd Revenue--469575654.400469575654.4000%456655163.200+3%421756514.720+11%338271032.480+39%
Usd Total Gains Per Share--0.2530.2530%0.275-8%0.249+2%0.187+35%
 EOD+5 -3MRQTTM+0 -0YOY+15 -255Y+22 -1810Y+25 -15

3.3 Fundamental Score

Let's check the fundamental score of Faes Farma SA based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1512.040
Price to Book Ratio (EOD)Between0-11.668
Net Profit Margin (MRQ)Greater than00.204
Operating Margin (MRQ)Greater than00.229
Quick Ratio (MRQ)Greater than11.888
Current Ratio (MRQ)Greater than13.344
Debt to Asset Ratio (MRQ)Less than10.145
Debt to Equity Ratio (MRQ)Less than10.170
Return on Equity (MRQ)Greater than0.150.139
Return on Assets (MRQ)Greater than0.050.118
Total8/10 (80.0%)

3.4 Technical Score

Let's check the technical score of Faes Farma SA based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5060.946
Ma 20Greater thanMa 503.462
Ma 50Greater thanMa 1003.470
Ma 100Greater thanMa 2003.546
OpenGreater thanClose3.505
Total2/5 (40.0%)

4. In-depth Analysis

4.1 About Faes Farma SA

Faes Farma, S.A., researches, develops, produces, and markets pharmaceutical products, healthcare products, and raw materials worldwide. It operates through Pharmaceutical and Healthcare Specialties; Animal Nutrition and Health; and Pharmaceutical Raw Materials segments. It offers products for various therapeutic areas. The company also provides animal nutrition and health products. Faes Farma, S.A. was incorporated in 1933 and is headquartered in Leioa, Spain.

Fundamental data was last updated by Penke on 2025-01-26 16:46:05.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is expensive.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Faes Farma SA earns for each €1 of revenue.

  • Above 10% is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • A Net Profit Margin of 20.4% means that €0.20 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Faes Farma SA:

  • The MRQ is 20.4%. The company is making a huge profit. +2
  • The TTM is 20.4%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ20.4%TTM20.4%0.0%
TTM20.4%YOY20.4%0.0%
TTM20.4%5Y19.7%+0.7%
5Y19.7%10Y17.4%+2.3%
4.3.1.2. Return on Assets

Shows how efficient Faes Farma SA is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • 11.8% Return on Assets means that Faes Farma SA generated €0.12 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Faes Farma SA:

  • The MRQ is 11.8%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 11.8%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ11.8%TTM11.8%0.0%
TTM11.8%YOY12.3%-0.5%
TTM11.8%5Y12.6%-0.7%
5Y12.6%10Y11.4%+1.1%
4.3.1.3. Return on Equity

Shows how efficient Faes Farma SA is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • 13.9% Return on Equity means Faes Farma SA generated €0.14 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Faes Farma SA:

  • The MRQ is 13.9%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 13.9%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ13.9%TTM13.9%0.0%
TTM13.9%YOY14.9%-1.0%
TTM13.9%5Y15.0%-1.1%
5Y15.0%10Y13.8%+1.2%
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4.3.2. Operating Efficiency of Faes Farma SA.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Faes Farma SA is operating .

  • Measures how much profit Faes Farma SA makes for each €1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • An Operating Margin of 22.9% means the company generated €0.23  for each €1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Faes Farma SA:

  • The MRQ is 22.9%. The company is operating efficient. +1
  • The TTM is 22.9%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ22.9%TTM22.9%0.0%
TTM22.9%YOY23.3%-0.3%
TTM22.9%5Y22.8%+0.1%
5Y22.8%10Y21.1%+1.7%
4.3.2.2. Operating Ratio

Measures how efficient Faes Farma SA is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Drug Manufacturers - Specialty & Generic industry mean).
  • An Operation Ratio of 1.00 means that the operating costs are €1.00 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of Faes Farma SA:

  • The MRQ is 1.000. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.000. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.000TTM1.0000.000
TTM1.000YOY0.767+0.233
TTM1.0005Y0.811+0.189
5Y0.81110Y0.807+0.003
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4.4.3. Liquidity of Faes Farma SA.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Faes Farma SA is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Drug Manufacturers - Specialty & Generic industry mean).
  • A Current Ratio of 3.34 means the company has €3.34 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of Faes Farma SA:

  • The MRQ is 3.344. The company is very able to pay all its short-term debts. +2
  • The TTM is 3.344. The company is very able to pay all its short-term debts. +2
Trends
Current periodCompared to+/- 
MRQ3.344TTM3.3440.000
TTM3.344YOY3.317+0.027
TTM3.3445Y3.375-0.031
5Y3.37510Y3.263+0.112
4.4.3.2. Quick Ratio

Measures if Faes Farma SA is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • A Quick Ratio of 1.89 means the company can pay off €1.89 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Faes Farma SA:

  • The MRQ is 1.888. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 1.888. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ1.888TTM1.8880.000
TTM1.888YOY2.286-0.399
TTM1.8885Y2.209-0.321
5Y2.20910Y2.264-0.056
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4.5.4. Solvency of Faes Farma SA.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Faes Farma SA assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Faes Farma SA to Drug Manufacturers - Specialty & Generic industry mean.
  • A Debt to Asset Ratio of 0.15 means that Faes Farma SA assets are financed with 14.5% credit (debt) and the remaining percentage (100% - 14.5%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Faes Farma SA:

  • The MRQ is 0.145. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.145. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.145TTM0.1450.000
TTM0.145YOY0.170-0.025
TTM0.1455Y0.160-0.015
5Y0.16010Y0.172-0.011
4.5.4.2. Debt to Equity Ratio

Measures if Faes Farma SA is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • A Debt to Equity ratio of 17.0% means that company has €0.17 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Faes Farma SA:

  • The MRQ is 0.170. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.170. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.170TTM0.1700.000
TTM0.170YOY0.205-0.035
TTM0.1705Y0.191-0.021
5Y0.19110Y0.211-0.020
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every €1 in earnings Faes Farma SA generates.

  • Above 15 is considered overpriced but always compare Faes Farma SA to the Drug Manufacturers - Specialty & Generic industry mean.
  • A PE ratio of 10.70 means the investor is paying €10.70 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Faes Farma SA:

  • The EOD is 12.040. Based on the earnings, the company is underpriced. +1
  • The MRQ is 10.702. Based on the earnings, the company is underpriced. +1
  • The TTM is 10.702. Based on the earnings, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD12.040MRQ10.702+1.338
MRQ10.702TTM10.7020.000
TTM10.702YOY12.200-1.498
TTM10.7025Y15.045-4.343
5Y15.04510Y19.320-4.276
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Faes Farma SA:

  • The EOD is -906.216. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -805.526. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -805.526. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-906.216MRQ-805.526-100.691
MRQ-805.526TTM-805.5260.000
TTM-805.526YOY42.279-847.804
TTM-805.5265Y-131.089-674.437
5Y-131.08910Y-52.446-78.643
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Faes Farma SA is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Drug Manufacturers - Specialty & Generic industry mean).
  • A PB ratio of 1.48 means the investor is paying €1.48 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of Faes Farma SA:

  • The EOD is 1.668. Based on the equity, the company is underpriced. +1
  • The MRQ is 1.483. Based on the equity, the company is underpriced. +1
  • The TTM is 1.483. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD1.668MRQ1.483+0.185
MRQ1.483TTM1.4830.000
TTM1.483YOY1.814-0.331
TTM1.4835Y2.274-0.791
5Y2.27410Y2.617-0.343
4.6.2. Total Gains per Share
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6. Financial Statements




6.1. Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2019-12-312020-12-312021-12-312022-12-312023-12-31
Accumulated Other Comprehensive Income  298,32544,082342,40740,453382,86054,732437,592-438,303-711
Net Interest Income  -303-93-396-196-592185-407803396



6.2. Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in EUR. All numbers in thousands.

Summary
Total Assets776,029
Total Liabilities112,680
Total Stockholder Equity662,355
 As reported
Total Liabilities 112,680
Total Stockholder Equity+ 662,355
Total Assets = 776,029

Assets

Total Assets776,029
Total Current Assets290,286
Long-term Assets485,743
Total Current Assets
Cash And Cash Equivalents 34,647
Short-term Investments 13,104
Net Receivables 103,025
Inventory 129,029
Other Current Assets 10,481
Total Current Assets  (as reported)290,286
Total Current Assets  (calculated)290,286
+/-0
Long-term Assets
Property Plant Equipment 280,615
Goodwill 56,083
Intangible Assets 128,123
Long-term Assets Other 29,308
Long-term Assets  (as reported)485,743
Long-term Assets  (calculated)494,129
+/- 8,386

Liabilities & Shareholders' Equity

Total Current Liabilities86,818
Long-term Liabilities25,862
Total Stockholder Equity662,355
Total Current Liabilities
Short-term Debt 19,523
Short Long Term Debt 17,290
Accounts payable 35,439
Other Current Liabilities 27,800
Total Current Liabilities  (as reported)86,818
Total Current Liabilities  (calculated)100,052
+/- 13,234
Long-term Liabilities
Capital Lease Obligations 6,606
Long-term Liabilities Other 241
Long-term Liabilities  (as reported)25,862
Long-term Liabilities  (calculated)6,847
+/- 19,015
Total Stockholder Equity
Common Stock31,622
Retained Earnings 640,945
Other Stockholders Equity -10,212
Total Stockholder Equity (as reported)662,355
Total Stockholder Equity (calculated)662,355
+/-0
Other
Capital Stock31,622
Cash and Short Term Investments 47,751
Common Stock Shares Outstanding 310,729
Current Deferred Revenue666
Liabilities and Stockholders Equity 776,029
Net Debt -10,751
Net Invested Capital 679,645
Net Working Capital 203,468
Property Plant and Equipment Gross 367,943
Short Long Term Debt Total 23,896



6.3. Balance Sheets Structured

Currency in EUR. All numbers in thousands.

 Trend2023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-312001-12-312000-12-31
> Total Assets 
24,208,364
24,574,552
176,910
198,010
199,287
216,042
232,434
272,433
275,015
235,965
297,097
291,120
286,844
285,156
267,233
290,677
331,223
430,241
480,804
493,673
564,150
641,764
725,670
776,029
776,029725,670641,764564,150493,673480,804430,241331,223290,677267,233285,156286,844291,120297,097235,965275,015272,433232,434216,042199,287198,010176,91024,574,55224,208,364
   > Total Current Assets 
0
0
0
72,802
76,873
72,633
78,083
96,994
80,132
49,498
87,708
83,558
82,890
85,040
88,677
113,468
153,656
169,834
217,581
222,989
290,007
293,711
313,211
290,286
290,286313,211293,711290,007222,989217,581169,834153,656113,46888,67785,04082,89083,55887,70849,49880,13296,99478,08372,63376,87372,802000
       Cash And Cash Equivalents 
613,529
344,080
2,533
5,954
12,003
5,763
1,572
5,318
7,509
531
2,154
6,058
4,929
7,966
6,719
25,552
58,819
43,269
76,038
52,853
91,210
70,254
66,411
34,647
34,64766,41170,25491,21052,85376,03843,26958,81925,5526,7197,9664,9296,0582,1545317,5095,3181,5725,76312,0035,9542,533344,080613,529
       Short-term Investments 
4,870,065
4,657,986
18,334
12,213
14,249
13,994
16,589
15,452
9,443
11,449
10,216
6,339
5,599
6,705
6,552
7,355
7,184
70
371
1,330
1,926
3,154
17,689
13,104
13,10417,6893,1541,9261,330371707,1847,3556,5526,7055,5996,33910,21611,4499,44315,45216,58913,99414,24912,21318,3344,657,9864,870,065
       Net Receivables 
4,384,438
4,923,638
32,114
33,332
26,918
28,823
34,223
47,599
35,728
23,184
39,048
38,271
41,534
37,046
38,101
46,530
49,346
76,625
81,867
97,352
105,280
112,852
114,111
103,025
103,025114,111112,852105,28097,35281,86776,62549,34646,53038,10137,04641,53438,27139,04823,18435,72847,59934,22328,82326,91833,33232,1144,923,6384,384,438
       Other Current Assets 
51,460
15,190
62
45,648
14,440
42,972
51,060
63,254
9,443
4,545
10,315
38,623
41,906
8,935
10,949
10,852
10,949
4,536
5,177
8,206
8,433
13,652
12,943
10,481
10,48112,94313,6528,4338,2065,1774,53610,94910,85210,9498,93541,90638,62310,3154,5459,44363,25451,06042,97214,44045,6486215,19051,460
   > Long-term Assets 
0
0
0
125,208
122,414
143,409
154,351
175,439
194,883
186,467
209,389
207,562
203,954
200,116
178,556
177,209
177,567
260,407
263,223
270,684
274,143
348,053
412,459
485,743
485,743412,459348,053274,143270,684263,223260,407177,567177,209178,556200,116203,954207,562209,389186,467194,883175,439154,351143,409122,414125,208000
       Property Plant Equipment 
2,918,210
3,030,379
20,724
23,937
25,028
26,828
28,624
30,816
33,311
24,327
32,070
29,157
25,719
23,062
22,531
30,433
38,408
57,648
67,057
83,932
95,245
139,628
205,804
280,615
280,615205,804139,62895,24583,93267,05757,64838,40830,43322,53123,06225,71929,15732,07024,32733,31130,81628,62426,82825,02823,93720,7243,030,3792,918,210
       Goodwill 
0
0
0
84,972
85,101
90,989
94,700
20,543
17,348
5,337
17,348
17,348
17,348
17,348
17,348
17,348
17,348
81,385
53,941
61,503
52,643
65,723
51,776
56,083
56,08351,77665,72352,64361,50353,94181,38517,34817,34817,34817,34817,34817,34817,3485,33717,34820,54394,70090,98985,10184,972000
       Intangible Assets 
6,420,866
6,102,582
65,886
84,972
85,101
90,989
89,036
104,919
112,967
42,924
114,865
110,451
91,383
87,782
81,478
76,190
72,800
77,867
111,737
106,990
112,880
113,688
126,911
128,123
128,123126,911113,688112,880106,990111,73777,86772,80076,19081,47887,78291,383110,451114,86542,924112,967104,91989,03690,98985,10184,97265,8866,102,5826,420,866
       Long-term Assets Other 
0
0
0
16,299
12,285
25,592
31,027
1,800
1,803
58,482
147
7,889
7,149
8,255
8,102
8,905
8,734
1,620
1,921
2,880
3,476
4,704
1,550
29,308
29,3081,5504,7043,4762,8801,9211,6208,7348,9058,1028,2557,1497,88914758,4821,8031,80031,02725,59212,28516,299000
> Total Liabilities 
6,914,864
7,472,492
68,500
80,148
68,885
84,419
92,582
121,375
118,307
113,039
131,589
123,508
102,027
87,349
38,607
36,342
46,335
109,466
120,650
80,019
91,273
103,698
123,391
112,680
112,680123,391103,69891,27380,019120,650109,46646,33536,34238,60787,349102,027123,508131,589113,039118,307121,37592,58284,41968,88580,14868,5007,472,4926,914,864
   > Total Current Liabilities 
6,466,923
7,046,933
50,094
64,159
56,016
71,298
78,222
102,355
65,880
57,538
81,504
74,880
52,886
51,250
30,065
31,102
37,945
56,450
103,751
72,279
84,685
79,307
94,428
86,818
86,81894,42879,30784,68572,279103,75156,45037,94531,10230,06551,25052,88674,88081,50457,53865,880102,35578,22271,29856,01664,15950,0947,046,9336,466,923
       Short-term Debt 
0
0
0
25,741
23,179
0
0
65,768
35,563
31,149
46,138
43,570
25,135
23,760
3,281
1,161
1,632
6,995
51,486
11,592
12,248
14,283
28,285
19,523
19,52328,28514,28312,24811,59251,4866,9951,6321,1613,28123,76025,13543,57046,13831,14935,56365,7680023,17925,741000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
33,961
2,063
0
2,295
7,697
51,876
7,611
10,431
13,619
26,517
17,290
17,29026,51713,61910,4317,61151,8767,6972,29502,06333,9610000000000000
       Accounts payable 
2,870,004
2,374,122
11,537
22,236
16,401
30,630
33,017
31,214
25,747
8,232
28,062
23,023
16,116
16,288
16,494
18,067
20,297
33,171
36,179
36,185
41,973
37,925
36,594
35,439
35,43936,59437,92541,97336,18536,17933,17120,29718,06716,49416,28816,11623,02328,0628,23225,74731,21433,01730,63016,40122,23611,5372,374,1222,870,004
       Other Current Liabilities 
3,594,811
2,336,322
21,731
16,182
16,436
40,668
45,205
5,373
4,570
13,318
2,818
8,287
36,839
34,983
13,669
14,124
18,909
25,488
68,107
24,502
-1,184
25,445
27,242
27,800
27,80027,24225,445-1,18424,50268,10725,48818,90914,12413,66934,98336,8398,2872,81813,3184,5705,37345,20540,66816,43616,18221,7312,336,3223,594,811
   > Long-term Liabilities 
0
0
0
15,989
12,869
13,121
14,360
19,020
52,427
55,501
50,085
48,628
49,141
36,099
8,542
5,240
8,390
53,016
16,899
7,740
6,588
24,391
28,963
25,862
25,86228,96324,3916,5887,74016,89953,0168,3905,2408,54236,09949,14148,62850,08555,50152,42719,02014,36013,12112,86915,989000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,645
2,161
4,400
0
04,4002,1611,64500000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
696
701
705
687
500
157
35
241
241351575006877057016960000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
7,575
7,030
7,276
6,487
4,579
9,630
12,367
15,907
20,302
23,164
0
023,16420,30215,90712,3679,6304,5796,4877,2767,0307,5750000000000000
> Total Stockholder Equity
17,243,630
17,064,963
108,351
117,782
130,318
131,603
139,832
151,038
156,688
122,926
165,500
167,604
184,809
197,799
228,619
254,327
284,883
320,243
359,883
412,968
471,395
536,528
601,076
662,355
662,355601,076536,528471,395412,968359,883320,243284,883254,327228,619197,799184,809167,604165,500122,926156,688151,038139,832131,603130,318117,782108,35117,064,96317,243,630
   Common Stock
1,101,921
1,212,113
8,013
8,903
9,893
11,130
12,521
14,227
16,005
18,006
19,507
20,482
20,482
21,978
23,504
24,792
25,497
26,155
27,009
27,815
28,524
29,742
31,078
31,622
31,62231,07829,74228,52427,81527,00926,15525,49724,79223,50421,97820,48220,48219,50718,00616,00514,22712,52111,1309,8938,9038,0131,212,1131,101,921
   Retained Earnings 
3,355,162
4,761,241
10,084
13,370
16,910
127,550
135,533
54,602
55,277
18,161
42,696
33,240
35,803
39,668
42,911
47,870
52,365
60,923
73,255
90,632
104,268
127,779
147,532
640,945
640,945147,532127,779104,26890,63273,25560,92352,36547,87042,91139,66835,80333,24042,69618,16155,27754,602135,533127,55016,91013,37010,0844,761,2413,355,162
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,460
1,460
1,460
0
01,4601,4601,46000000000000000000000
   Treasury Stock000000-3,746-3,307-3,208-3,359-2,299-2,299-2,29900000000000
   Other Stockholders Equity 
0
0
0
108,879
120,425
-7,077
-8,222
82,209
85,406
86,759
103,297
113,882
128,524
130,880
156,891
-1,748
-1,847
-2,286
-3,804
-3,804
-3,804
-3,086
-3,804
-10,212
-10,212-3,804-3,086-3,804-3,804-3,804-2,286-1,847-1,748156,891130,880128,524113,882103,29786,75985,40682,209-8,222-7,077120,425108,879000



6.4. Balance Sheets

Currency in EUR. All numbers in thousands.




6.5. Cash Flows

Currency in EUR. All numbers in thousands.