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France
In shortKering is profitable, generates cash and carries moderate debt, with revenue shrinking (−3.9% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 23.7% | 96/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 15.2% | 81/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 20.4% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 12.2% | 81/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | – | n/a |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.82× | 66/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 1.83× | 62/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 22.8% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.49× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 4 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 4 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 3 | 44/100 |
| Revenue growth volatility | 19.3% | 40/100 |
| Operating margin volatility | 1.5% | 95/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 14.3% | 96/100 |
|---|---|---|
| EPS growth, 3-year average | 12.3% | 87/100 |
Weight in the score: 10%
Fiscal year 2023 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
The last 4 fiscal years from the company's annual reports.
EUR millions; negative values in parentheses.
| Fiscal year | FY20 | FY21 | FY22 | FY23 |
|---|---|---|---|---|
| Revenue | 13,100 | 17,645 | 20,351 | 19,566 |
| Cost of revenue | 3,591 | 4,577 | 5,153 | 4,639 |
| Gross profit | 9,510 | 13,069 | 15,198 | 14,927 |
| Operating income | 3,298 | 4,797 | 5,395 | 4,643 |
| Pre-tax income | 2,957 | 4,524 | 5,135 | 4,233 |
| Income tax | 759 | 1,280 | 1,420 | 1,163 |
| Net income | 2,150 | 3,176 | 3,614 | 2,983 |
| Diluted EPS | €17.20 | €25.49 | €29.31 | €24.37 |
Not computed: a required balance-sheet item is missing.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2023 · Data updated Dec 31, 2023