Beiersdorf
Company Overview
Sector : Consumer Staples
Industry : Personal Care Products
Headquarter : Hamburg, Germany
Description : Beiersdorf Aktiengesellschaft, together with its subsidiaries, manufactures and distributes consumer goods in Europe, the United States, Africa, Asia, and Australia. The company operates through two segments: Consumer Business and Tesa Business. The Consumer Business Segment offers skin and body care products. The Tesa Business segment provides adhesive tapes and self-adhesive solutions for industries, craft businesses, and consumers. This segment also offers its system solutions to the automotive, consumer electronics, printing and packaging, and electrical systems sectors. It operates an online store. The company offers its products under the NIVEA, Eucerin, Hansaplast, La Prairie, Chantecaille, Coppertone, Labello / NIVEA Lip / Liposan, ATRIX, 8x4, HIDROFUGAL, tesa, SKIN STORIES, GAMMON, Aquaphor, Elastoplast, and CURITAS brand names, as well as regionally focused brands. Beiersdorf Aktiengesellschaft was founded in 1882 and is headquartered in Hamburg, Germany. Beiersdorf Aktiengesellschaft is a subsidiary of maxingvest ag. Beiersdorf Aktiengesellschaft operates as a subsidiary of Maxingvest GmbH & Co. KGaA.
S&P Credit Rating
A+
CEO
Vincent Warnery
No. of Employees
20,778
Website
www.beiersdorf.com
Beiersdorf AG | Key Metrics
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 6,750 | 7,060 | 7,230 | 7,650 | 7,030 | 7,630 | 8,800 | 9,450 | 9,850 | 9,850 |
| Revenue Growth % | 0.99% | 4.50% | 2.51% | 5.81% | (8.21%) | 8.57% | 15.37% | 7.36% | 4.27% | 0.02% |
| Gross Profit | 3,980 | 4,150 | 4,160 | 4,430 | 4,040 | 4,360 | 4,960 | 5,420 | 5,760 | 5,690 |
| Gross Margin % | 58.92% | 58.76% | 57.49% | 57.91% | 57.52% | 57.17% | 56.34% | 57.33% | 58.48% | 57.71% |
| Operating Income | 1,040 | 1,080 | 1,070 | 1,090 | 880 | 970 | 1,200 | 1,160 | 1,340 | 1,360 |
| Operating Margin % | 15.34% | 15.36% | 14.78% | 14.20% | 12.58% | 12.77% | 13.64% | 12.32% | 13.58% | 13.84% |
| EBIT | 1,010 | 1,000 | 1,020 | 1,010 | 800 | 890 | 1,080 | 1,090 | 1,300 | 1,330 |
| EBIT Margin % | 15.02% | 14.10% | 14.13% | 13.24% | 11.40% | 11.66% | 12.23% | 11.52% | 13.19% | 13.45% |
| EBITDA | 1,160 | 1,150 | 1,190 | 1,250 | 1,060 | 1,180 | 1,360 | 1,540 | 1,660 | 1,650 |
| EBITDA Margin % | 17.21% | 16.23% | 16.41% | 16.36% | 15.06% | 15.42% | 15.49% | 16.27% | 16.81% | 16.78% |
| Net Income | 710 | 670 | 730 | 720 | 560 | 640 | 760 | 740 | 910 | 940 |
| Net Margin % | 10.77% | 9.76% | 10.30% | 9.62% | 8.21% | 8.59% | 8.76% | 7.93% | 9.42% | 9.69% |
| Diluted EPS (€) | 3.13 | 2.96 | 3.21 | 3.17 | 2.47 | 2.81 | 3.33 | 3.24 | 4.05 | 4.25 |
| Dividend Per Share (€) | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 1.00 | 1.00 |
| Balance Sheet | ||||||||||
| Total Assets | 7,570 | 8,210 | 8,870 | 10,070 | 10,210 | 11,300 | 12,350 | 12,630 | 13,010 | 12,760 |
| Total Liabilities | 2,900 | 3,080 | 3,220 | 3,970 | 3,940 | 4,410 | 4,540 | 4,290 | 4,520 | 4,140 |
| Total Equity | 4,680 | 5,130 | 5,650 | 6,090 | 6,260 | 6,890 | 7,810 | 8,340 | 8,500 | 8,620 |
| Cash & Equivalents | 870 | 900 | 920 | 1,140 | 1,010 | 1,040 | 1,080 | 1,130 | 1,210 | 1,200 |
| Working Capital | 2,240 | 2,060 | 2,220 | 1,910 | 1,530 | 1,310 | 1,780 | 2,610 | 2,750 | 3,150 |
| Book Value Per Share (€) | 18.81 | 21.54 | 23.46 | 25.47 | 26.90 | 29.12 | 33.94 | 36.04 | 37.78 | 38.25 |
| Total Debt / Equity | 0.00 | 0.00 | 0.00 | 0.07 | 0.07 | 0.02 | 0.03 | 0.01 | 0.01 | 0.01 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 942 | 911 | 868 | 982 | 984 | 993 | 797 | 941 | 1,231 | 785 |
| Cash from Investing | (764) | (633) | (635) | (750) | (731) | (845) | (402) | (341) | (126) | 128 |
| Cash from Financing | (233) | (202) | (210) | (21) | (317) | (141) | (345) | (492) | (1,029) | (847) |
| Capital Expenditure | 162 | 195 | 358 | 320 | 280 | 413 | 548 | 517 | 437 | 463 |
| Free Cash Flow | 694 | 728 | 566 | 513 | 513 | 472 | 521 | 521 | 802 | 601 |
| Change in Cash | (55) | 76 | 23 | 211 | (64) | 7 | 50 | 108 | 76 | 66 |
| Period ending Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue % | ||||||||||
| Year Over Year | 0.99% | 4.50% | 2.51% | 5.81% | (8.21%) | 8.57% | 15.37% | 7.36% | 4.27% | 0.02% |
| 3-Year Average | 3.21% | 3.93% | 2.66% | 4.26% | (0.15%) | 1.78% | 4.76% | 10.38% | 8.90% | 3.84% |
| 5-Year Average | 3.69% | 3.16% | 3.33% | 4.02% | 0.99% | 2.47% | 4.51% | 5.49% | 5.18% | 7.00% |
| 10-Year Average | — | 2.51% | 1.94% | 2.90% | 1.27% | 3.08% | 3.83% | 4.40% | 4.60% | 3.95% |
| Operating Income % | ||||||||||
| Year Over Year | 9.51% | 4.63% | (1.38%) | 1.68% | (18.68%) | 10.18% | 23.20% | (3.00%) | 14.95% | 1.94% |
| 3-Year Average | 7.76% | 11.03% | 4.16% | 1.61% | (6.57%) | (3.05%) | 3.35% | 9.61% | 11.16% | 4.36% |
| 5-Year Average | 19.17% | 6.72% | 5.24% | 6.54% | (1.35%) | (1.23%) | 2.05% | 1.72% | 4.24% | 9.06% |
| 10-Year Average | (13.19%) | 5.81% | 4.38% | 6.36% | 4.25% | 8.49% | 4.36% | 3.46% | 5.38% | 3.73% |
| Net Income % | ||||||||||
| Year Over Year | 7.42% | (5.22%) | 8.33% | (1.37%) | (22.01%) | 13.93% | 18.34% | (2.52%) | 23.91% | 2.96% |
| 3-Year Average | 9.91% | 8.30% | 3.32% | 0.42% | (5.90%) | (4.30%) | 1.69% | 9.54% | 12.65% | 7.54% |
| 5-Year Average | 22.31% | 8.74% | 6.39% | 6.30% | (3.23%) | (2.09%) | 2.36% | 0.22% | 4.90% | 10.89% |
| 10-Year Average | 0.66% | 4.28% | 2.53% | 6.57% | 5.56% | 9.43% | 5.50% | 3.26% | 5.60% | 3.59% |
| EPS % | ||||||||||
| Year Over Year | 7.56% | (5.43%) | 8.45% | (1.25%) | (22.08%) | 13.77% | 18.46% | (2.66%) | 25.00% | 4.94% |
| 3-Year Average | 10.03% | 8.30% | 3.32% | 0.42% | (5.85%) | (4.34%) | 1.64% | 9.47% | 12.96% | 8.49% |
| 5-Year Average | 23.26% | 8.71% | 6.44% | 6.35% | (3.23%) | (2.13%) | 2.38% | 0.19% | 5.02% | 11.47% |
| 10-Year Average | 0.66% | 4.37% | 2.61% | 6.75% | 5.84% | 9.83% | 5.49% | 3.26% | 5.68% | 3.86% |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||||
| Return on Assets % | 9.82% | 8.52% | 8.53% | 7.58% | 5.53% | 5.93% | 6.39% | 5.89% | 7.11% | 7.29% |
| Return on Equity % | 16.03% | 13.77% | 13.57% | 12.29% | 9.10% | 9.73% | 10.30% | 9.14% | 10.86% | 11.00% |
| Return on Invested Capital % | 15.53% | 13.35% | 13.22% | 11.33% | 8.87% | 9.29% | 9.83% | 8.81% | 10.50% | 10.67% |
| Working Capital Efficiency | ||||||||||
| Days Sales Outstanding | 68.95 | 67.74 | 68.63 | 67.63 | 69.78 | 61.02 | 58.37 | 60.00 | 62.81 | 68.58 |
| Days Inventory | 98.68 | 99.40 | 108.79 | 113.09 | 122.99 | 119.43 | 127.92 | 138.63 | 138.91 | 140.62 |
| Payables Period | 157.63 | 167.07 | 176.51 | 182.10 | 201.95 | 201.94 | 204.30 | 206.54 | 214.40 | 221.44 |
| Cash Conversion Cycle | 10.00 | 0.07 | 0.91 | (1.38) | (9.18) | (21.49) | (18.02) | (7.91) | (12.69) | (12.25) |
| Asset Turnover | ||||||||||
| Receivables Turnover | 5.29 | 5.39 | 5.32 | 5.40 | 5.23 | 5.98 | 6.25 | 6.08 | 5.81 | 5.32 |
| Inventory Turnover | 3.70 | 3.67 | 3.36 | 3.23 | 2.97 | 3.06 | 2.85 | 2.63 | 2.63 | 2.60 |
| Fixed Assets Turnover | 6.43 | 6.81 | 6.39 | 5.34 | 4.32 | 4.39 | 4.35 | 3.98 | 3.75 | 3.54 |
| Asset Turnover | 0.93 | 0.89 | 0.85 | 0.81 | 0.69 | 0.71 | 0.74 | 0.76 | 0.77 | 0.76 |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liquidity | ||||||||||
| Current Ratio | 2.10 | 1.93 | 1.94 | 1.67 | 1.56 | 1.39 | 1.47 | 1.74 | 1.74 | 1.90 |
| Quick Ratio | 1.60 | 1.42 | 1.41 | 1.21 | 1.08 | 0.93 | 0.93 | 1.17 | 1.16 | 1.28 |
| Leverage & Solvency | ||||||||||
| Interest Coverage | 261.00 | 128.75 | 117.44 | 80.77 | 64.15 | 65.79 | 69.50 | 43.50 | 30.47 | 40.65 |
| Financial Leverage | 1.63 | 1.61 | 1.58 | 1.66 | 1.64 | 1.64 | 1.59 | 1.52 | 1.54 | 1.48 |
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.02 | — | — | — | — | — | — |
| Per Share | ||||||||||
| Book Value Per Share (€) | 18.81 | 21.54 | 23.46 | 25.47 | 26.90 | 29.12 | 33.94 | 36.04 | 37.78 | 38.25 |
| Cash Value Per Share (€) | — | — | — | 8.44 | 7.28 | 7.28 | 8.16 | 10.40 | 10.52 | 11.13 |
| Capital Expenditure | ||||||||||
| Capex as % of Sales | 2.40% | 2.76% | 4.95% | 4.18% | 3.99% | 5.41% | 6.23% | 5.47% | 4.44% | 4.70% |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow Growth | ||||||||||
| Operating CF Growth % YoY | 17.75% | (3.29%) | (4.72%) | 13.13% | 0.20% | 0.91% | (19.74%) | 18.07% | 30.82% | (36.23%) |
| Free Cash Flow Growth % YoY | 41.56% | (8.21%) | (28.77%) | 29.80% | 6.34% | (17.61%) | (57.07%) | 70.28% | 87.26% | (59.45%) |
| Cash Flow Margins & Quality | ||||||||||
| Free Cash Flow / Sales % | 11.55% | 10.15% | 7.05% | 8.65% | 10.02% | 7.60% | 2.83% | 4.49% | 8.06% | 3.27% |
| Free Cash Flow / Net Income | 1.10 | 1.07 | 0.70 | 0.92 | 1.26 | 0.91 | 0.33 | 0.58 | 0.87 | 0.34 |
| Free Cash Flow Per Share (€) | 3.18 | 3.26 | 2.07 | 2.75 | 2.49 | 3.83 | 1.59 | 1.49 | 3.41 | 1.22 |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Price Multiples | ||||||||||
| Price / Sales | 2.75 | 3.21 | — | 3.24 | 2.95 | 2.75 | 2.95 | 3.32 | 2.90 | 2.12 |
| Price / Earnings | 27.05 | 30.31 | — | 32.71 | 36.05 | 30.64 | 32.98 | 36.59 | 38.15 | 23.72 |
| Price / Forward Earnings | — | — | — | 30.30 | 28.50 | 28.42 | 28.17 | 29.71 | 25.86 | 20.23 |
| Price / Cash Flow | 23.96 | 25.18 | — | 25.44 | 28.68 | 21.62 | 24.46 | 27.63 | 26.06 | 18.99 |
| Price / Book | 4.28 | 4.55 | — | 4.19 | 3.51 | 3.10 | 3.16 | 3.77 | 3.31 | 2.45 |
| PEG Ratio | 1.73 | 1.21 | — | 5.56 | 41.84 | 35.56 | 267.08 | 8.58 | 204.91 | 2.77 |
| Earnings & Enterprise Value | ||||||||||
| Earnings Yield % | 3.70% | 3.30% | — | 3.06% | 2.77% | 3.26% | 3.03% | 2.73% | 2.62% | 4.22% |
| Enterprise Value (€ Bil) | 16.64 | 20.48 | — | 22.38 | 20.31 | 19.26 | 23.58 | 29.16 | 25.62 | 18.90 |
| EV / EBIT | 17.22 | 19.56 | — | 21.44 | 23.70 | 21.03 | 22.42 | 23.57 | 23.50 | 15.19 |
| EV / EBITDA | 15.11 | 17.11 | — | 17.99 | 18.28 | 16.20 | 17.62 | 19.21 | 16.41 | 11.84 |