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Kering SA
Buy, Hold or Sell?

Let's analyze Kering together

I guess you are interested in Kering 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 Kering 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 Kering (30 sec.)










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

How much money do you get?

How much money do you get?
$1.52
When do you have the money?
1 year
How often do you get paid?
77.5%

What is your share worth?

Current worth
$13.98
Expected worth in 1 year
$14.32
How sure are you?
87.5%

+ What do you gain per year?

Total Gains per Share
$1.86
Return On Investment
7.5%

For what price can you sell your share?

Current Price per Share
$24.90
Expected price per share
$23.90 - $37.14
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Kering (5 min.)




Live pricePrice per Share (EOD)
$24.90
Intrinsic Value Per Share
$-52.54 - $33.27
Total Value Per Share
$-38.55 - $47.25

2.2. Growth of Kering (5 min.)




Is Kering growing?

Current yearPrevious yearGrowGrow %
How rich?$17.1b$16.4b$873.2m5.1%

How much money is Kering making?

Current yearPrevious yearGrowGrow %
Making money$727.6m$1.3b-$664.1m-91.3%
Net Profit Margin11.2%16.6%--

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

2.3. Financial Health of Kering (5 min.)




2.4. Comparing to competitors in the Luxury Goods industry (5 min.)




  Industry Rankings (Luxury Goods)  


Richest
#6 / 105

Most Revenue
#7 / 105

Most Profit
#5 / 105
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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Kering?

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

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

Speculation

The Price per Share of Kering is $24.90. 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 Kering.
  • 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 Kering, 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 $13.98. Based on the TTM, the Book Value Change Per Share is $0.08 per quarter. Based on the YOY, the Book Value Change Per Share is $0.32 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 $0.38 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Kering.

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 Eps0.391.6%0.592.4%0.963.8%0.712.9%0.532.1%
Usd Book Value Change Per Share0.000.0%0.080.3%0.321.3%0.281.1%0.100.4%
Usd Dividend Per Share0.763.1%0.381.5%0.481.9%0.441.8%0.351.4%
Usd Total Gains Per Share0.763.1%0.461.9%0.803.2%0.722.9%0.461.8%
Usd Price Per Share36.28-41.41-54.00-58.39-45.59-
Price to Earnings Ratio23.27-20.13-15.60-29.28-29.11-
Price-to-Total Gains Ratio47.63-67.64-78.78--3,894,710,158.21--1,999,986,221.41-
Price to Book Ratio2.59-2.94-4.03-5.04-4.25-
Price-to-Total Gains Ratio47.63-67.64-78.78--3,894,710,158.21--1,999,986,221.41-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share24.9
Number of shares40
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.380.44
Usd Book Value Change Per Share0.080.28
Usd Total Gains Per Share0.460.72
Gains per Quarter (40 shares)18.5928.62
Gains per Year (40 shares)74.35114.48
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
16113647045104
21222713813989218
318340212209134332
424454286279179446
530567360349224560
636681434418268674
742794508488313788
8487107582558358902
95481216566284031016
106091347306974471130

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 Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%46.00.00.0100.0%
Book Value Change Per Share1.01.02.025.0%6.01.05.050.0%9.04.07.045.0%17.06.017.042.5%18.08.020.039.1%
Dividend per Share2.00.02.050.0%9.00.03.075.0%15.00.05.075.0%31.00.09.077.5%36.00.010.078.3%
Total Gains per Share3.00.01.075.0%11.00.01.091.7%18.01.01.090.0%35.02.03.087.5%40.03.03.087.0%
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3.2. Key Performance Indicators

The key performance indicators of Kering 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---0.084-100%0.323-100%0.280-100%0.104-100%
Book Value Per Share--13.98114.097-1%13.384+4%11.985+17%10.943+28%
Current Ratio--1.3801.3810%1.416-3%1.310+5%1.198+15%
Debt To Asset Ratio--0.6260.620+1%0.562+11%0.587+7%0.558+12%
Debt To Equity Ratio--1.7721.719+3%1.357+31%1.485+19%1.338+32%
Dividend Per Share--0.7620.381+100%0.475+60%0.436+75%0.355+115%
Eps--0.3900.594-34%0.955-59%0.711-45%0.529-26%
Free Cash Flow Per Share--0.4680.653-28%0.610-23%0.792-41%0.587-20%
Free Cash Flow To Equity Per Share---0.0271.877-101%-0.361+1235%0.485-106%0.292-109%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max--33.268--------
Intrinsic Value_10Y_min---52.536--------
Intrinsic Value_1Y_max--3.322--------
Intrinsic Value_1Y_min--1.062--------
Intrinsic Value_3Y_max--9.991--------
Intrinsic Value_3Y_min---2.270--------
Intrinsic Value_5Y_max--16.670--------
Intrinsic Value_5Y_min---11.561--------
Market Cap30521424000.000-46%44470572800.00050761479560.000-12%66196555920.000-33%71576723000.000-38%55878384036.000-20%
Net Profit Margin--0.0970.112-13%0.166-41%0.160-39%0.135-28%
Operating Margin--0.1750.194-10%0.268-35%0.254-31%0.233-25%
Operating Ratio--0.8260.812+2%0.742+11%0.753+10%0.786+5%
Pb Ratio1.781-46%2.5952.936-12%4.027-36%5.042-49%4.253-39%
Pe Ratio15.974-46%23.27420.129+16%15.603+49%29.284-21%29.106-20%
Price Per Share24.900-46%36.28041.412-12%54.005-33%58.394-38%45.587-20%
Price To Free Cash Flow Ratio13.294-46%19.37018.120+7%28.434-32%48.700-60%-199.683+1131%
Price To Total Gains Ratio32.693-46%47.63467.636-30%78.777-40%-3894710158.211+8176332107%-1999986221.409+4198656917%
Quick Ratio--0.6020.625-4%0.647-7%0.653-8%0.575+5%
Return On Assets--0.0100.016-35%0.037-72%0.033-69%0.024-57%
Return On Equity--0.0290.044-33%0.089-67%0.081-64%0.058-49%
Total Gains Per Share--0.7620.465+64%0.798-5%0.716+6%0.459+66%
Usd Book Value--17137575000.00017279028000.000-1%16405827750.000+4%14691025674.109+17%13413982549.554+28%
Usd Book Value Change Per Share---0.084-100%0.323-100%0.280-100%0.104-100%
Usd Book Value Per Share--13.98114.097-1%13.384+4%11.985+17%10.943+28%
Usd Dividend Per Share--0.7620.381+100%0.475+60%0.436+75%0.355+115%
Usd Eps--0.3900.594-34%0.955-59%0.711-45%0.529-26%
Usd Free Cash Flow--573972750.000800297550.000-28%747524700.000-23%970245168.750-41%719503404.750-20%
Usd Free Cash Flow Per Share--0.4680.653-28%0.610-23%0.792-41%0.587-20%
Usd Free Cash Flow To Equity Per Share---0.0271.877-101%-0.361+1235%0.485-106%0.292-109%
Usd Market Cap30521424000.000-46%44470572800.00050761479560.000-12%66196555920.000-33%71576723000.000-38%55878384036.000-20%
Usd Price Per Share24.900-46%36.28041.412-12%54.005-33%58.394-38%45.587-20%
Usd Profit--477675900.000727666875.000-34%1391815912.500-66%1146419439.750-58%767534859.000-38%
Usd Revenue--4906242900.0006301323112.500-22%8387618850.000-42%6930062655.750-29%5239583695.125-6%
Usd Total Gains Per Share--0.7620.465+64%0.798-5%0.716+6%0.459+66%
 EOD+4 -4MRQTTM+6 -29YOY+10 -255Y+13 -2210Y+13 -22

3.3 Fundamental Score

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

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1515.974
Price to Book Ratio (EOD)Between0-11.781
Net Profit Margin (MRQ)Greater than00.097
Operating Margin (MRQ)Greater than00.175
Quick Ratio (MRQ)Greater than10.602
Current Ratio (MRQ)Greater than11.380
Debt to Asset Ratio (MRQ)Less than10.626
Debt to Equity Ratio (MRQ)Less than11.772
Return on Equity (MRQ)Greater than0.150.029
Return on Assets (MRQ)Greater than0.050.010
Total4/10 (40.0%)

3.4 Technical Score

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

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5044.282
Ma 20Greater thanMa 5025.397
Ma 50Greater thanMa 10026.265
Ma 100Greater thanMa 20029.277
OpenGreater thanClose24.930
Total1/5 (20.0%)

4. In-depth Analysis

4.1 About Kering SA

Kering SA manages the development of a series of renowned houses in fashion, leather goods and jewelry in France, the Asia-Pacific, Western Europe, North America, Japan, and internationally. The company offers ready-to-wear products apparel and accessories for men and women. It also offers leather goods and shoes; watches and jewelry; eyewear products; and fragrances and cosmetics. The company provides Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ginori 1735, Kering Beauté, and Kering Eyewear brands. The company was formerly known as PPR SA and changed its name to Kering SA in June 2013. Kering SA was founded in 1963 and is based in Paris, France.

Fundamental data was last updated by Penke on 2024-10-16 09:01:03.

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 less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is just 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 fair priced.
Based on how much money comes from the company's main activities, the company is underpriced.
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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 Kering earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Kering to the Luxury Goods industry mean.
  • A Net Profit Margin of 9.7% means that $0.10 for each $1 in revenue is generated as profit.

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

  • The MRQ is 9.7%. The company is making a profit. +1
  • The TTM is 11.2%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ9.7%TTM11.2%-1.5%
TTM11.2%YOY16.6%-5.4%
TTM11.2%5Y16.0%-4.8%
5Y16.0%10Y13.5%+2.4%
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ9.7%4.2%+5.5%
TTM11.2%5.1%+6.1%
YOY16.6%5.5%+11.1%
5Y16.0%3.6%+12.4%
10Y13.5%3.8%+9.7%
4.3.1.2. Return on Assets

Shows how efficient Kering is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Kering to the Luxury Goods industry mean.
  • 1.0% Return on Assets means that Kering generated $0.01 profit for each $1 in assets.

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

  • The MRQ is 1.0%. Using its assets, the company is less efficient in making profit.
  • The TTM is 1.6%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ1.0%TTM1.6%-0.6%
TTM1.6%YOY3.7%-2.1%
TTM1.6%5Y3.3%-1.7%
5Y3.3%10Y2.4%+0.9%
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0%2.3%-1.3%
TTM1.6%2.4%-0.8%
YOY3.7%3.4%+0.3%
5Y3.3%2.3%+1.0%
10Y2.4%2.2%+0.2%
4.3.1.3. Return on Equity

Shows how efficient Kering is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Kering to the Luxury Goods industry mean.
  • 2.9% Return on Equity means Kering generated $0.03 for each $1 the owners (shareholders) invested.

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

  • The MRQ is 2.9%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 4.4%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ2.9%TTM4.4%-1.5%
TTM4.4%YOY8.9%-4.5%
TTM4.4%5Y8.1%-3.7%
5Y8.1%10Y5.8%+2.3%
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ2.9%6.0%-3.1%
TTM4.4%6.6%-2.2%
YOY8.9%6.7%+2.2%
5Y8.1%5.1%+3.0%
10Y5.8%5.1%+0.7%
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4.3.2. Operating Efficiency of Kering SA.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Kering is operating .

  • Measures how much profit Kering 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 Kering to the Luxury Goods industry mean.
  • An Operating Margin of 17.5% means the company generated $0.18  for each $1 in revenue (before taxes).

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

  • The MRQ is 17.5%. The company is operating efficient. +1
  • The TTM is 19.4%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ17.5%TTM19.4%-1.9%
TTM19.4%YOY26.8%-7.4%
TTM19.4%5Y25.4%-6.0%
5Y25.4%10Y23.3%+2.1%
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ17.5%7.7%+9.8%
TTM19.4%6.2%+13.2%
YOY26.8%8.0%+18.8%
5Y25.4%5.8%+19.6%
10Y23.3%5.8%+17.5%
4.3.2.2. Operating Ratio

Measures how efficient Kering is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Luxury Goods industry mean).
  • An Operation Ratio of 0.83 means that the operating costs are $0.83 for each $1 in net sales.

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

  • The MRQ is 0.826. The company is less efficient in keeping operating costs low.
  • The TTM is 0.812. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.826TTM0.812+0.014
TTM0.812YOY0.742+0.070
TTM0.8125Y0.753+0.059
5Y0.75310Y0.786-0.033
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8260.999-0.173
TTM0.8120.980-0.168
YOY0.7420.997-0.255
5Y0.7531.012-0.259
10Y0.7860.983-0.197
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4.4.3. Liquidity of Kering SA.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Kering is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Luxury Goods industry mean).
  • A Current Ratio of 1.38 means the company has $1.38 in assets for each $1 in short-term debts.

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

  • The MRQ is 1.380. The company is just able to pay all its short-term debts.
  • The TTM is 1.381. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ1.380TTM1.381-0.001
TTM1.381YOY1.416-0.035
TTM1.3815Y1.310+0.071
5Y1.31010Y1.198+0.111
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3801.954-0.574
TTM1.3812.050-0.669
YOY1.4162.245-0.829
5Y1.3102.169-0.859
10Y1.1982.208-1.010
4.4.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Kering to the Luxury Goods industry mean.
  • A Quick Ratio of 0.60 means the company can pay off $0.60 for each $1 in debt (using most liquid assets).

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

  • The MRQ is 0.602. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.625. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.602TTM0.625-0.023
TTM0.625YOY0.647-0.022
TTM0.6255Y0.653-0.028
5Y0.65310Y0.575+0.078
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6020.789-0.187
TTM0.6250.844-0.219
YOY0.6470.966-0.319
5Y0.6531.058-0.405
10Y0.5751.128-0.553
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4.5.4. Solvency of Kering SA.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Kering assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Kering to Luxury Goods industry mean.
  • A Debt to Asset Ratio of 0.63 means that Kering assets are financed with 62.6% credit (debt) and the remaining percentage (100% - 62.6%) is financed by its owners/shareholders. 

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

  • The MRQ is 0.626. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.620. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.626TTM0.620+0.007
TTM0.620YOY0.562+0.057
TTM0.6205Y0.587+0.032
5Y0.58710Y0.558+0.029
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6260.491+0.135
TTM0.6200.491+0.129
YOY0.5620.517+0.045
5Y0.5870.510+0.077
10Y0.5580.497+0.061
4.5.4.2. Debt to Equity Ratio

Measures if Kering is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Kering to the Luxury Goods industry mean.
  • A Debt to Equity ratio of 177.2% means that company has $1.77 debt for each $1 in shareholders equity.

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

  • The MRQ is 1.772. The company is just able to pay all its debts with equity.
  • The TTM is 1.719. The company is just able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ1.772TTM1.719+0.052
TTM1.719YOY1.357+0.363
TTM1.7195Y1.485+0.234
5Y1.48510Y1.338+0.147
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
MRQ1.7720.974+0.798
TTM1.7190.990+0.729
YOY1.3571.069+0.288
5Y1.4851.116+0.369
10Y1.3381.157+0.181
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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 Kering generates.

  • Above 15 is considered overpriced but always compare Kering to the Luxury Goods industry mean.
  • A PE ratio of 23.27 means the investor is paying $23.27 for every $1 in earnings.

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

  • The EOD is 15.974. Based on the earnings, the company is fair priced.
  • The MRQ is 23.274. Based on the earnings, the company is fair priced.
  • The TTM is 20.129. Based on the earnings, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD15.974MRQ23.274-7.301
MRQ23.274TTM20.129+3.145
TTM20.129YOY15.603+4.526
TTM20.1295Y29.284-9.154
5Y29.28410Y29.106+0.178
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
EOD15.97412.862+3.112
MRQ23.27413.263+10.011
TTM20.12915.549+4.580
YOY15.60311.591+4.012
5Y29.28412.783+16.501
10Y29.10615.548+13.558
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 Kering SA:

  • The EOD is 13.294. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 19.370. Based on how much money comes from the company's main activities, the company is underpriced. +1
  • The TTM is 18.120. Based on how much money comes from the company's main activities, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD13.294MRQ19.370-6.076
MRQ19.370TTM18.120+1.250
TTM18.120YOY28.434-10.315
TTM18.1205Y48.700-30.580
5Y48.70010Y-199.683+248.384
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
EOD13.2945.880+7.414
MRQ19.3707.592+11.778
TTM18.1205.361+12.759
YOY28.4345.287+23.147
5Y48.7003.793+44.907
10Y-199.6836.176-205.859
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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 Kering is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Luxury Goods industry mean).
  • A PB ratio of 2.59 means the investor is paying $2.59 for each $1 in book value.

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

  • The EOD is 1.781. Based on the equity, the company is underpriced. +1
  • The MRQ is 2.595. Based on the equity, the company is underpriced. +1
  • The TTM is 2.936. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD1.781MRQ2.595-0.814
MRQ2.595TTM2.936-0.341
TTM2.936YOY4.027-1.092
TTM2.9365Y5.042-2.106
5Y5.04210Y4.253+0.789
Compared to industry (Luxury Goods)
PeriodCompanyIndustry (mean)+/- 
EOD1.7811.693+0.088
MRQ2.5951.664+0.931
TTM2.9361.705+1.231
YOY4.0271.545+2.482
5Y5.0421.910+3.132
10Y4.2532.029+2.224
4.6.2. Total Gains per Share

2.4. Latest News of Kering SA

Does Kering SA still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Kering SA to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2024-10-21
11:32
Gucci Owner Kering Loses a Long-Standing Bull Just Days Before Sales UpdateRead
2024-10-18
15:07
Kering: Monthly statement on the total number of shares and voting rights (October 2024)Read
2024-10-08
17:40
Kering: Stefano Cantino appointed CEO of Gucci, succeeding Jean-François PalusRead
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6. Financial Statements




6.1. Latest Balance Sheet

Balance Sheet of 2024-06-30. Currency in EUR. All numbers in thousands.

Summary
Total Assets42,152,000
Total Liabilities26,402,000
Total Stockholder Equity14,901,000
 As reported
Total Liabilities 26,402,000
Total Stockholder Equity+ 14,901,000
Total Assets = 42,152,000

Assets

Total Assets42,152,000
Total Current Assets11,665,000
Long-term Assets30,487,000
Total Current Assets
Cash And Cash Equivalents 3,934,000
Net Receivables 1,155,000
Inventory 4,346,000
Other Current Assets 2,230,000
Total Current Assets  (as reported)11,665,000
Total Current Assets  (calculated)11,665,000
+/-0
Long-term Assets
Property Plant Equipment 11,412,000
Goodwill 7,090,000
Intangible Assets 8,185,000
Long-term Assets Other 282,000
Long-term Assets  (as reported)30,487,000
Long-term Assets  (calculated)26,969,000
+/- 3,518,000

Liabilities & Shareholders' Equity

Total Current Liabilities8,453,000
Long-term Liabilities17,949,000
Total Stockholder Equity14,901,000
Total Current Liabilities
Short-term Debt 2,838,000
Accounts payable 2,132,000
Other Current Liabilities 2,740,000
Total Current Liabilities  (as reported)8,453,000
Total Current Liabilities  (calculated)7,710,000
+/- 743,000
Long-term Liabilities
Long-term Liabilities  (as reported)17,949,000
Long-term Liabilities  (calculated)0
+/- 17,949,000
Total Stockholder Equity
Common Stock493,000
Retained Earnings 13,998,000
Accumulated Other Comprehensive Income 857,000
Other Stockholders Equity -447,000
Total Stockholder Equity (as reported)14,901,000
Total Stockholder Equity (calculated)14,901,000
+/-0
Other
Cash and Short Term Investments 3,934,000
Common Stock Shares Outstanding 122,627
Current Deferred Revenue743,000
Liabilities and Stockholders Equity 42,152,000
Net Debt 9,922,000
Net Working Capital 3,212,000
Short Long Term Debt Total 13,856,000



6.2. Balance Sheets Structured

Currency in EUR. All numbers in thousands.

 Trend2024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-06-302011-12-312011-06-302010-12-312010-06-302009-12-31
> Total Assets 
24,463,700
25,272,300
24,694,500
23,529,800
24,953,800
25,490,100
25,256,500
21,730,200
21,730,200
22,810,800
22,810,800
22,149,300
22,149,300
23,253,900
23,253,900
24,002,600
24,002,600
23,850,800
23,850,800
23,996,500
23,996,500
24,139,000
24,139,000
24,566,900
24,566,900
25,577,400
25,577,400
20,275,500
20,275,500
21,367,500
21,367,500
26,063,100
26,063,100
27,148,200
27,148,200
27,208,300
27,208,300
28,005,400
28,005,400
28,931,300
28,931,300
31,068,000
31,067,600
33,197,000
33,197,000
33,941,000
33,941,000
34,972,000
34,972,000
41,367,000
41,367,000
42,152,000
42,152,000
42,152,00042,152,00041,367,00041,367,00034,972,00034,972,00033,941,00033,941,00033,197,00033,197,00031,067,60031,068,00028,931,30028,931,30028,005,40028,005,40027,208,30027,208,30027,148,20027,148,20026,063,10026,063,10021,367,50021,367,50020,275,50020,275,50025,577,40025,577,40024,566,90024,566,90024,139,00024,139,00023,996,50023,996,50023,850,80023,850,80024,002,60024,002,60023,253,90023,253,90022,149,30022,149,30022,810,80022,810,80021,730,20021,730,20025,256,50025,490,10024,953,80023,529,80024,694,50025,272,30024,463,700
   > Total Current Assets 
5,267,200
5,899,800
6,940,400
5,466,100
7,445,900
7,471,400
8,590,700
4,988,700
4,988,700
5,646,900
5,646,900
4,977,300
4,977,300
5,361,300
5,361,300
5,529,200
5,529,200
5,364,700
5,364,700
5,506,200
5,506,200
5,640,200
5,640,200
6,137,600
6,137,600
7,316,700
7,316,700
6,348,000
6,348,000
7,070,900
7,070,900
7,383,200
7,383,200
7,545,700
7,545,700
8,095,900
8,095,900
9,020,100
9,020,800
10,198,100
10,198,100
11,414,000
11,432,400
13,071,000
13,071,000
11,662,000
11,662,000
11,194,000
11,194,000
11,930,000
11,930,000
11,665,000
11,665,000
11,665,00011,665,00011,930,00011,930,00011,194,00011,194,00011,662,00011,662,00013,071,00013,071,00011,432,40011,414,00010,198,10010,198,1009,020,8009,020,1008,095,9008,095,9007,545,7007,545,7007,383,2007,383,2007,070,9007,070,9006,348,0006,348,0007,316,7007,316,7006,137,6006,137,6005,640,2005,640,2005,506,2005,506,2005,364,7005,364,7005,529,2005,529,2005,361,3005,361,3004,977,3004,977,3005,646,9005,646,9004,988,7004,988,7008,590,7007,471,4007,445,9005,466,1006,940,4005,899,8005,267,200
       Cash And Cash Equivalents 
944,500
927,200
1,398,200
963,300
1,270,700
1,094,000
2,081,000
934,300
934,300
1,419,200
1,419,200
1,225,800
1,225,800
1,089,900
1,089,900
922,900
922,900
1,146,400
1,146,400
1,032,300
1,032,300
1,049,600
1,049,600
1,085,700
1,085,700
2,136,600
2,136,600
1,926,300
1,926,300
2,216,600
2,216,600
2,450,900
2,450,900
2,285,900
2,285,900
2,801,700
2,801,700
3,442,800
3,442,800
4,786,900
4,786,900
5,249,000
5,248,700
5,790,000
5,790,000
4,336,000
4,336,000
3,328,000
3,328,000
3,922,000
3,922,000
3,934,000
3,934,000
3,934,0003,934,0003,922,0003,922,0003,328,0003,328,0004,336,0004,336,0005,790,0005,790,0005,248,7005,249,0004,786,9004,786,9003,442,8003,442,8002,801,7002,801,7002,285,9002,285,9002,450,9002,450,9002,216,6002,216,6001,926,3001,926,3002,136,6002,136,6001,085,7001,085,7001,049,6001,049,6001,032,3001,032,3001,146,4001,146,400922,900922,9001,089,9001,089,9001,225,8001,225,8001,419,2001,419,200934,300934,3002,081,0001,094,0001,270,700963,3001,398,200927,200944,500
       Short-term Investments 
27,900
128,200
50,300
56,400
45,300
36,900
87,000
8,200
78,200
6,600
107,700
10,600
18,800
10,200
106,300
9,700
86,700
9,200
81,200
9,800
88,800
9,100
131,000
8,100
186,700
7,100
155,600
6,100
49,900
8,300
60,900
7,700
58,400
7,500
38,400
17,100
17,100
0
-193,800
4,700
4,700
0
-212,000
0
-222,000
0
-227,000
0
-224,000
0
136,000
0
0
00136,0000-224,0000-227,0000-222,0000-212,00004,7004,700-193,800017,10017,10038,4007,50058,4007,70060,9008,30049,9006,100155,6007,100186,7008,100131,0009,10088,8009,80081,2009,20086,7009,700106,30010,20018,80010,600107,7006,60078,2008,20087,00036,90045,30056,40050,300128,20027,900
       Net Receivables 
1,234,300
1,459,400
1,317,300
1,330,700
3,351,900
3,386,600
4,191,500
986,000
1,528,100
949,900
1,791,100
988,200
1,210,700
1,030,000
1,256,900
1,115,200
1,337,400
1,137,100
1,260,900
1,122,800
1,274,400
1,196,400
1,302,000
1,299,700
1,398,700
1,366,500
1,445,100
877,100
1,455,100
849,500
1,479,200
956,700
1,259,200
996,000
1,282,800
777,700
1,245,000
910,400
1,583,400
898,100
1,260,700
977,000
1,840,000
1,077,000
2,088,000
1,180,000
1,724,000
1,204,000
1,957,000
1,151,000
1,916,000
1,155,000
1,155,000
1,155,0001,155,0001,916,0001,151,0001,957,0001,204,0001,724,0001,180,0002,088,0001,077,0001,840,000977,0001,260,700898,1001,583,400910,4001,245,000777,7001,282,800996,0001,259,200956,7001,479,200849,5001,455,100877,1001,445,1001,366,5001,398,7001,299,7001,302,0001,196,4001,274,4001,122,8001,260,9001,137,1001,337,4001,115,2001,256,9001,030,0001,210,700988,2001,791,100949,9001,528,100986,0004,191,5003,386,6003,351,9001,330,7001,317,3001,459,4001,234,300
       Inventory 
2,351,600
2,672,000
2,227,000
2,478,700
2,202,500
2,444,500
1,736,500
1,920,500
1,920,500
1,805,500
1,805,500
2,079,700
2,079,700
2,234,700
2,234,700
2,474,000
2,474,000
2,191,200
2,191,200
2,420,500
2,420,500
2,432,200
2,432,200
2,740,600
2,740,600
2,699,100
2,699,100
2,179,400
2,179,400
2,414,700
2,414,700
2,726,000
2,726,000
2,959,200
2,959,200
3,108,300
3,108,300
2,845,500
2,845,500
3,041,100
3,041,100
3,369,000
3,368,900
4,065,000
4,065,000
4,465,000
4,466,000
4,569,000
4,569,000
4,550,000
4,550,000
4,346,000
4,346,000
4,346,0004,346,0004,550,0004,550,0004,569,0004,569,0004,466,0004,465,0004,065,0004,065,0003,368,9003,369,0003,041,1003,041,1002,845,5002,845,5003,108,3003,108,3002,959,2002,959,2002,726,0002,726,0002,414,7002,414,7002,179,4002,179,4002,699,1002,699,1002,740,6002,740,6002,432,2002,432,2002,420,5002,420,5002,191,2002,191,2002,474,0002,474,0002,234,7002,234,7002,079,7002,079,7001,805,5001,805,5001,920,5001,920,5001,736,5002,444,5002,202,5002,478,7002,227,0002,672,0002,351,600
       Other Current Assets 
708,900
713,000
1,947,600
637,000
575,500
509,400
494,700
1,139,700
527,600
1,465,700
523,400
673,000
442,300
996,500
673,500
1,007,400
708,200
880,800
685,000
920,800
690,200
952,900
725,400
1,003,500
725,900
1,107,400
880,300
1,359,100
737,300
1,581,800
899,500
1,241,900
888,700
1,297,100
979,400
1,391,100
940,900
1,821,400
1,149,100
1,467,300
1,109,400
1,819,000
974,800
2,139,000
1,128,000
1,681,000
1,136,000
2,093,000
1,340,000
2,307,000
1,406,000
2,230,000
2,230,000
2,230,0002,230,0001,406,0002,307,0001,340,0002,093,0001,136,0001,681,0001,128,0002,139,000974,8001,819,0001,109,4001,467,3001,149,1001,821,400940,9001,391,100979,4001,297,100888,7001,241,900899,5001,581,800737,3001,359,100880,3001,107,400725,9001,003,500725,400952,900690,200920,800685,000880,800708,2001,007,400673,500996,500442,300673,000523,4001,465,700527,6001,139,700494,700509,400575,500637,0001,947,600713,000708,900
   > Long-term Assets 
19,196,500
19,372,500
17,754,100
18,063,700
17,507,900
18,018,700
16,665,800
16,741,500
16,741,500
17,163,900
17,163,900
17,172,000
17,172,000
17,892,600
17,892,600
18,473,400
18,473,400
18,486,100
18,486,100
18,490,300
18,490,300
18,498,800
18,498,800
18,429,300
18,429,300
18,260,700
18,260,700
13,927,500
13,927,500
14,296,600
14,296,600
18,679,900
18,679,900
19,602,500
19,602,500
19,112,400
19,112,400
18,985,300
18,984,600
18,733,200
18,733,200
19,654,000
19,635,200
20,126,000
20,126,000
22,279,000
22,279,000
23,778,000
23,778,000
29,437,000
29,437,000
30,487,000
30,487,000
30,487,00030,487,00029,437,00029,437,00023,778,00023,778,00022,279,00022,279,00020,126,00020,126,00019,635,20019,654,00018,733,20018,733,20018,984,60018,985,30019,112,40019,112,40019,602,50019,602,50018,679,90018,679,90014,296,60014,296,60013,927,50013,927,50018,260,70018,260,70018,429,30018,429,30018,498,80018,498,80018,490,30018,490,30018,486,10018,486,10018,473,40018,473,40017,892,60017,892,60017,172,00017,172,00017,163,90017,163,90016,741,50016,741,50016,665,80018,018,70017,507,90018,063,70017,754,10019,372,50019,196,500
       Property Plant Equipment 
1,861,500
1,874,100
1,423,600
1,341,900
1,372,000
1,455,700
1,376,300
1,402,100
1,402,100
1,676,900
1,676,900
1,683,400
1,683,400
1,887,200
1,887,200
2,003,100
2,003,100
2,073,000
2,073,000
2,051,200
2,051,200
2,206,500
2,206,500
2,135,900
2,135,900
2,267,600
2,267,600
2,012,800
2,012,800
2,228,500
2,228,500
6,088,900
6,088,900
6,866,000
6,866,000
6,542,500
6,542,500
6,627,000
6,510,800
6,965,100
6,965,100
7,269,000
7,162,400
7,750,000
7,750,000
8,317,000
8,197,000
9,797,000
9,797,000
10,325,000
10,325,000
11,412,000
11,412,000
11,412,00011,412,00010,325,00010,325,0009,797,0009,797,0008,197,0008,317,0007,750,0007,750,0007,162,4007,269,0006,965,1006,965,1006,510,8006,627,0006,542,5006,542,5006,866,0006,866,0006,088,9006,088,9002,228,5002,228,5002,012,8002,012,8002,267,6002,267,6002,135,9002,135,9002,206,5002,206,5002,051,2002,051,2002,073,0002,073,0002,003,1002,003,1001,887,2001,887,2001,683,4001,683,4001,676,9001,676,9001,402,1001,402,1001,376,3001,455,7001,372,0001,341,9001,423,6001,874,1001,861,500
       Goodwill 
5,564,600
0
4,539,800
4,499,000
4,214,900
4,493,700
3,871,000
3,896,700
3,896,700
3,770,100
3,770,100
3,634,600
3,634,600
4,039,900
4,039,900
3,826,300
3,826,300
3,758,800
3,758,800
3,764,800
3,764,800
3,533,500
3,533,500
3,516,300
3,516,300
3,421,200
3,421,200
2,441,900
2,441,900
2,399,200
2,399,200
2,402,100
2,402,100
2,525,900
2,525,900
2,510,600
2,510,600
2,452,200
2,452,200
2,456,600
2,456,600
2,891,000
2,891,200
2,921,000
2,921,000
4,053,000
4,054,000
3,574,000
3,574,000
7,112,000
7,112,000
7,090,000
7,090,000
7,090,0007,090,0007,112,0007,112,0003,574,0003,574,0004,054,0004,053,0002,921,0002,921,0002,891,2002,891,0002,456,6002,456,6002,452,2002,452,2002,510,6002,510,6002,525,9002,525,9002,402,1002,402,1002,399,2002,399,2002,441,9002,441,9003,421,2003,421,2003,516,3003,516,3003,533,5003,533,5003,764,8003,764,8003,758,8003,758,8003,826,3003,826,3004,039,9004,039,9003,634,6003,634,6003,770,1003,770,1003,896,7003,896,7003,871,0004,493,7004,214,9004,499,0004,539,80005,564,600
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
311,900
311,900
529,500
529,500
180,167
179,661
1,382,300
1,382,300
1,224,100
1,224,100
1,457,500
1,457,500
1,229,900
1,229,900
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000001,229,9001,229,9001,457,5001,457,5001,224,1001,224,1001,382,3001,382,300179,661180,167529,500529,500311,900311,900000000000000000000000
       Intangible Assets 
10,122,700
0
10,200,400
10,178,700
10,331,100
10,423,800
10,489,900
10,500,600
10,500,600
10,702,800
10,702,800
10,726,300
10,726,300
10,748,100
10,748,100
11,273,900
11,273,900
11,285,500
11,285,500
11,297,200
11,297,200
11,272,700
11,272,700
11,246,400
11,246,400
11,159,000
11,159,000
7,305,700
7,305,700
7,393,600
7,393,600
7,276,100
7,276,100
7,260,500
7,260,500
7,071,400
7,071,400
6,985,800
7,102,000
7,012,900
7,012,900
7,032,000
7,138,100
7,021,000
7,021,000
7,357,000
7,479,000
8,053,000
8,053,000
8,178,000
8,178,000
8,185,000
8,185,000
8,185,0008,185,0008,178,0008,178,0008,053,0008,053,0007,479,0007,357,0007,021,0007,021,0007,138,1007,032,0007,012,9007,012,9007,102,0006,985,8007,071,4007,071,4007,260,5007,260,5007,276,1007,276,1007,393,6007,393,6007,305,7007,305,70011,159,00011,159,00011,246,40011,246,40011,272,70011,272,70011,297,20011,297,20011,285,50011,285,50011,273,90011,273,90010,748,10010,748,10010,726,30010,726,30010,702,80010,702,80010,500,60010,500,60010,489,90010,423,80010,331,10010,178,70010,200,400010,122,700
       Long-term Assets Other 
114,200
145,600
61,500
71,600
57,500
46,600
273,300
623,300
118,300
818,100
275,900
805,300
54,500
954,200
302,500
884,300
144,800
1,084,600
316,200
875,400
119,800
1,174,200
378,200
1,001,200
216,400
1,182,700
374,400
784,800
66,100
1,051,200
283,500
1,455,300
131,800
1,720,200
391,000
1,465,700
42,200
1,389,300
17,400
1,283,300
5,500
1,589,000
6,000
1,741,000
2,000
1,874,000
4,000
1,832,000
8,000
1,769,000
152,000
1,789,000
282,000
282,0001,789,000152,0001,769,0008,0001,832,0004,0001,874,0002,0001,741,0006,0001,589,0005,5001,283,30017,4001,389,30042,2001,465,700391,0001,720,200131,8001,455,300283,5001,051,20066,100784,800374,4001,182,700216,4001,001,200378,2001,174,200119,800875,400316,2001,084,600144,800884,300302,500954,20054,500805,300275,900818,100118,300623,300273,30046,60057,50071,60061,500145,600114,200
> Total Liabilities 
13,410,400
13,993,200
13,043,300
12,122,900
13,204,300
13,729,800
13,137,800
10,173,800
10,173,800
11,614,900
11,614,900
11,107,500
11,107,500
11,991,600
11,991,600
12,519,300
12,519,300
12,227,700
12,227,700
12,336,000
12,336,000
12,175,100
12,175,100
12,510,800
12,510,800
12,951,000
12,951,000
10,918,900
10,918,900
11,305,900
11,305,900
16,614,400
16,614,400
16,709,600
16,709,600
17,001,100
17,001,100
15,970,400
15,970,400
16,164,800
16,164,800
17,332,000
17,331,400
19,280,000
19,280,000
19,158,000
19,158,000
19,600,000
19,600,000
25,357,000
25,357,000
26,402,000
26,402,000
26,402,00026,402,00025,357,00025,357,00019,600,00019,600,00019,158,00019,158,00019,280,00019,280,00017,331,40017,332,00016,164,80016,164,80015,970,40015,970,40017,001,10017,001,10016,709,60016,709,60016,614,40016,614,40011,305,90011,305,90010,918,90010,918,90012,951,00012,951,00012,510,80012,510,80012,175,10012,175,10012,336,00012,336,00012,227,70012,227,70012,519,30012,519,30011,991,60011,991,60011,107,50011,107,50011,614,90011,614,90010,173,80010,173,80013,137,80013,729,80013,204,30012,122,90013,043,30013,993,20013,410,400
   > Total Current Liabilities 
5,846,100
7,350,100
6,494,800
5,516,000
7,071,500
7,489,600
7,186,100
5,175,900
5,175,900
5,465,600
5,465,600
5,386,100
5,386,100
5,843,600
5,843,600
5,637,200
5,637,200
5,099,400
5,099,400
4,917,300
4,917,300
4,898,600
4,898,600
4,665,900
4,665,900
5,762,600
5,762,600
5,727,600
5,727,600
6,410,500
6,410,500
8,661,900
8,661,900
8,147,500
8,147,500
7,665,500
7,665,500
6,734,700
6,734,700
6,959,900
6,959,900
8,775,000
8,774,000
9,236,000
9,236,000
8,506,000
8,506,000
7,660,000
7,660,000
8,631,000
8,631,000
8,453,000
8,453,000
8,453,0008,453,0008,631,0008,631,0007,660,0007,660,0008,506,0008,506,0009,236,0009,236,0008,774,0008,775,0006,959,9006,959,9006,734,7006,734,7007,665,5007,665,5008,147,5008,147,5008,661,9008,661,9006,410,5006,410,5005,727,6005,727,6005,762,6005,762,6004,665,9004,665,9004,898,6004,898,6004,917,3004,917,3005,099,4005,099,4005,637,2005,637,2005,843,6005,843,6005,386,1005,386,1005,465,6005,465,6005,175,9005,175,9007,186,1007,489,6007,071,5005,516,0006,494,8007,350,1005,846,100
       Short-term Debt 
1,221,000
2,565,200
2,115,800
1,448,200
1,611,400
2,470,700
1,595,100
2,065,100
2,068,900
1,737,400
1,737,400
2,420,200
2,420,200
2,281,500
2,288,400
2,417,600
2,428,600
1,778,300
1,785,900
1,719,900
1,727,500
1,227,000
1,234,500
878,700
885,600
932,600
939,700
1,222,800
1,259,500
720,500
756,400
1,675,300
2,288,800
1,975,900
2,695,900
2,434,300
3,143,400
1,776,200
2,200,800
1,898,400
2,446,500
2,442,000
3,091,000
2,703,000
3,413,000
2,295,000
3,087,000
1,741,000
2,555,000
2,400,000
3,284,000
2,838,000
2,838,000
2,838,0002,838,0003,284,0002,400,0002,555,0001,741,0003,087,0002,295,0003,413,0002,703,0003,091,0002,442,0002,446,5001,898,4002,200,8001,776,2003,143,4002,434,3002,695,9001,975,9002,288,8001,675,300756,400720,5001,259,5001,222,800939,700932,600885,600878,7001,234,5001,227,0001,727,5001,719,9001,785,9001,778,3002,428,6002,417,6002,288,4002,281,5002,420,2002,420,2001,737,4001,737,4002,068,9002,065,1001,595,1002,470,7001,611,4001,448,2002,115,8002,565,2001,221,000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,421,900
5,421,900
5,659,500
5,659,500
528,136
526,653
957,100
957,100
332,600
332,600
307,800
1,675,300
707,800
1,527,600
0
2,434,300
0
1,662,800
0
1,871,100
0
2,415,700
0
2,686,000
0
2,275,000
0
1,723,000
0
2,400,000
0
0
002,400,00001,723,00002,275,00002,686,00002,415,70001,871,10001,662,80002,434,30001,527,600707,8001,675,300307,800332,600332,600957,100957,100526,653528,1365,659,5005,659,5005,421,9005,421,900000000000000000000000
       Accounts payable 
2,053,500
2,131,800
1,928,400
1,815,100
1,535,600
1,345,500
684,500
872,100
872,100
766,100
766,100
929,800
929,800
982,800
982,800
1,051,100
1,051,100
939,700
939,700
1,093,800
1,093,800
1,098,500
1,098,500
1,268,200
1,268,200
1,240,700
1,240,700
746,700
746,700
745,800
745,800
796,400
796,400
808,700
808,700
616,800
616,800
1,489,600
666,000
1,659,400
1,659,400
1,742,000
1,741,900
2,347,000
2,347,000
2,263,000
2,263,000
2,327,000
2,327,000
2,200,000
2,200,000
2,132,000
2,132,000
2,132,0002,132,0002,200,0002,200,0002,327,0002,327,0002,263,0002,263,0002,347,0002,347,0001,741,9001,742,0001,659,4001,659,400666,0001,489,600616,800616,800808,700808,700796,400796,400745,800745,800746,700746,7001,240,7001,240,7001,268,2001,268,2001,098,5001,098,5001,093,8001,093,800939,700939,7001,051,1001,051,100982,800982,800929,800929,800766,100766,100872,100872,100684,5001,345,5001,535,6001,815,1001,928,4002,131,8002,053,500
       Other Current Liabilities 
2,303,300
1,964,400
1,836,100
1,660,100
1,712,100
3,070,400
1,400,400
2,238,700
1,254,800
2,962,100
1,372,300
2,036,100
1,269,500
2,579,300
1,651,000
2,168,500
1,467,800
2,381,400
1,634,100
2,103,600
1,464,700
2,573,100
1,729,300
2,519,000
1,738,000
3,589,300
2,206,100
3,758,100
2,173,600
4,944,200
2,598,900
6,190,200
2,221,900
5,362,900
2,552,500
4,614,400
2,100,700
3,468,900
2,290,400
3,402,100
1,494,600
4,591,000
1,824,900
4,186,000
1,551,000
3,948,000
1,726,000
3,592,000
1,591,000
4,031,000
1,848,000
3,483,000
2,740,000
2,740,0003,483,0001,848,0004,031,0001,591,0003,592,0001,726,0003,948,0001,551,0004,186,0001,824,9004,591,0001,494,6003,402,1002,290,4003,468,9002,100,7004,614,4002,552,5005,362,9002,221,9006,190,2002,598,9004,944,2002,173,6003,758,1002,206,1003,589,3001,738,0002,519,0001,729,3002,573,1001,464,7002,103,6001,634,1002,381,4001,467,8002,168,5001,651,0002,579,3001,269,5002,036,1001,372,3002,962,1001,254,8002,238,7001,400,4003,070,4001,712,1001,660,1001,836,1001,964,4002,303,300
   > Long-term Liabilities 
7,564,300
6,643,100
6,548,500
6,606,900
6,132,800
6,240,200
5,951,700
4,997,900
4,997,900
6,149,300
6,149,300
5,721,400
5,721,400
6,148,000
6,148,000
6,882,100
6,882,100
7,128,300
7,128,300
7,418,700
7,418,700
7,276,500
7,276,500
7,844,900
7,844,900
7,188,400
7,188,400
5,191,300
5,191,300
4,895,400
4,895,400
7,952,500
7,952,500
8,562,100
8,562,100
9,335,600
9,335,600
9,235,700
9,235,700
9,204,900
9,204,900
8,557,000
8,557,400
10,044,000
10,044,000
10,652,000
10,652,000
11,940,000
11,940,000
16,726,000
16,726,000
17,949,000
17,949,000
17,949,00017,949,00016,726,00016,726,00011,940,00011,940,00010,652,00010,652,00010,044,00010,044,0008,557,4008,557,0009,204,9009,204,9009,235,7009,235,7009,335,6009,335,6008,562,1008,562,1007,952,5007,952,5004,895,4004,895,4005,191,3005,191,3007,188,4007,188,4007,844,9007,844,9007,276,5007,276,5007,418,7007,418,7007,128,3007,128,3006,882,1006,882,1006,148,0006,148,0005,721,4005,721,4006,149,3006,149,3004,997,9004,997,9005,951,7006,240,2006,132,8006,606,9006,548,5006,643,1007,564,300
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,089,100
3,089,100
3,071,000
3,071,000
2,302,731
2,296,262
1,730,900
1,730,900
1,723,300
1,723,300
1,782,000
1,782,000
1,841,000
1,841,000
1,792,300
1,792,300
1,874,400
1,874,400
1,862,000
1,862,000
1,756,100
1,756,100
1,784,000
1,784,000
1,885,000
1,885,000
0
0
0
0
0
0
0000001,885,0001,885,0001,784,0001,784,0001,756,1001,756,1001,862,0001,862,0001,874,4001,874,4001,792,3001,792,3001,841,0001,841,0001,782,0001,782,0001,723,3001,723,3001,730,9001,730,9002,296,2622,302,7313,071,0003,071,0003,089,1003,089,100000000000000000000000
> Total Stockholder Equity
9,954,500
10,173,300
10,599,200
10,421,500
10,925,000
11,010,300
11,413,800
10,852,100
10,852,100
10,586,600
10,586,600
10,436,500
10,436,500
10,634,100
10,634,100
10,807,100
10,807,100
10,948,300
10,948,300
11,007,500
11,007,500
11,269,700
11,269,700
11,387,300
11,387,300
11,948,200
11,948,200
9,219,000
9,219,000
9,905,900
9,905,900
9,276,200
9,276,200
10,278,100
10,278,100
10,003,100
10,003,100
11,820,900
11,820,900
12,518,000
12,518,000
13,347,000
13,346,800
13,474,000
13,474,000
13,998,000
13,998,000
14,572,000
14,572,000
15,212,000
15,212,000
14,901,000
14,901,000
14,901,00014,901,00015,212,00015,212,00014,572,00014,572,00013,998,00013,998,00013,474,00013,474,00013,346,80013,347,00012,518,00012,518,00011,820,90011,820,90010,003,10010,003,10010,278,10010,278,1009,276,2009,276,2009,905,9009,905,9009,219,0009,219,00011,948,20011,948,20011,387,30011,387,30011,269,70011,269,70011,007,50011,007,50010,948,30010,948,30010,807,10010,807,10010,634,10010,634,10010,436,50010,436,50010,586,60010,586,60010,852,10010,852,10011,413,80011,010,30010,925,00010,421,50010,599,20010,173,3009,954,500
   Common Stock
506,300
506,600
507,300
507,400
508,000
504,200
504,500
504,800
504,800
504,900
504,900
505,000
505,000
505,100
505,100
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
505,200
500,100
500,100
500,100
500,100
499,000
498,800
499,000
499,000
496,000
496,000
496,000
496,000
493,000
493,000
493,000
493,000
493,000493,000493,000493,000496,000496,000496,000496,000499,000499,000498,800499,000500,100500,100500,100500,100505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,200505,100505,100505,000505,000504,900504,900504,800504,800504,500504,200508,000507,400507,300506,600506,300
   Retained Earnings Total Equity00000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
0
0
0
0
10,480,300
10,480,300
10,092,100
10,092,100
9,940,200
9,940,200
10,132,400
10,132,400
10,307,000
10,307,000
10,448,200
10,448,200
10,502,300
10,502,300
10,764,500
10,764,500
10,883,000
10,883,000
11,443,000
11,443,000
8,713,800
8,713,800
9,569,000
9,569,000
9,093,400
182,800
10,346,500
10,346,500
10,073,200
10,073,200
11,374,700
11,374,700
12,188,200
12,188,200
13,228,000
13,227,500
14,000,000
14,000,000
14,530,000
14,530,000
15,061,000
15,061,000
15,169,000
901,000
857,000
857,000
857,000857,000901,00015,169,00015,061,00015,061,00014,530,00014,530,00014,000,00014,000,00013,227,50013,228,00012,188,20012,188,20011,374,70011,374,70010,073,20010,073,20010,346,50010,346,500182,8009,093,4009,569,0009,569,0008,713,8008,713,80011,443,00011,443,00010,883,00010,883,00010,764,50010,764,50010,502,30010,502,30010,448,20010,448,20010,307,00010,307,00010,132,40010,132,4009,940,2009,940,20010,092,10010,092,10010,480,30010,480,3000000000
   Capital Surplus 00000000000000000000000000000000000000000000000000000
   Treasury Stock00000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
9,448,200
9,666,700
10,091,900
9,914,100
10,417,000
10,506,100
10,909,300
-133,000
-133,000
-10,400
-10,400
-8,700
-8,700
-3,400
-3,400
-5,100
-5,100
-5,100
-5,100
0
10,502,300
0
10,764,500
-900
-900
0
11,443,000
8,713,800
8,713,800
-168,300
-168,300
-322,400
8,588,200
-573,600
-573,600
-575,300
-575,300
-53,900
-53,900
-170,300
-170,300
-380,000
-379,500
-1,025,000
-1,025,000
-1,028,000
-1,028,000
-985,000
-985,000
-450,000
13,818,000
-447,000
-447,000
-447,000-447,00013,818,000-450,000-985,000-985,000-1,028,000-1,028,000-1,025,000-1,025,000-379,500-380,000-170,300-170,300-53,900-53,900-575,300-575,300-573,600-573,6008,588,200-322,400-168,300-168,3008,713,8008,713,80011,443,0000-900-90010,764,500010,502,3000-5,100-5,100-5,100-5,100-3,400-3,400-8,700-8,700-10,400-10,400-133,000-133,00010,909,30010,506,10010,417,0009,914,10010,091,9009,666,7009,448,200



6.3. Balance Sheets

Currency in EUR. All numbers in thousands.




6.4. Cash Flows

Currency in EUR. All numbers in thousands.