Richemont
Company Overview
Sector : Consumer Discretionary
Industry : Luxury Goods
Headquarter : Bellevue, Switzerland
Description : Compagnie Financière Richemont SA, an investment holding company, engages in the luxury goods business. The company operates through Jewellery Maisons, Specialist Watchmakers, and Other segments. It is involved in the design, manufacture, and distribution of jewelry products, precision timepieces, watches, writing instruments, clothing, and leather goods and accessories. The company provides its products under the Cartier, Van Cleef & Arpels, Vhernier, Buccellati, A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin, Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian, AZ Factory, Watchfinder&Co., TIMEVALLEE, and YOOX NET-A-PORTER brands through retail online retail, and wholesale distribution channels. It offers its products in France, the United Kingdom, Italy, Switzerland, rest of Europe, the United Arab Emirates, rest of the Middle East, Africa, China, Hong Kong, Macau, Japan, South Korea, rest of Asia, the United States, and rest of the Americas. The company was incorporated in 1979 and is headquartered in Bellevue, Switzerland.
S&P Credit Rating
A+
CEO
Nicolas Bos
No. of Employees
38,896
Website
www.richemont.com
Richemont | Key Metrics
| Fiscal Year End Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 11,080 | 10,650 | 10,980 | 13,990 | 14,240 | 13,140 | 19,180 | 19,950 | 20,620 | 21,400 |
| Revenue Growth % | 6.40% | (3.87%) | 3.12% | 27.02% | 1.78% | (7.68%) | 45.93% | 19.14% | 3.32% | 3.80% |
| Gross Profit | 7,120 | 6,800 | 7,150 | 8,650 | 8,610 | 7,860 | 12,030 | 13,720 | 14,040 | 14,320 |
| Gross Margin % | 64.27% | 63.86% | 65.12% | 61.80% | 60.48% | 59.81% | 62.70% | 68.74% | 68.08% | 66.91% |
| Operating Income | 2,070 | 1,580 | 1,840 | 1,940 | 1,520 | 1,480 | 3,370 | 5,030 | 4,790 | 4,460 |
| Operating Margin % | 18.68% | 14.86% | 16.79% | 13.88% | 10.65% | 11.23% | 17.54% | 25.21% | 23.25% | 20.85% |
| EBIT | 2,070 | 1,560 | 1,650 | 3,220 | 1,280 | 1,650 | 2,670 | 4,830 | 4,670 | 4,530 |
| EBIT Margin % | 18.64% | 14.65% | 15.02% | 23.03% | 9.00% | 12.53% | 13.91% | 24.20% | 22.64% | 21.15% |
| EBITDA | 2,620 | 2,120 | 2,190 | 4,030 | 2,770 | 3,170 | 4,220 | 4,920 | 6,100 | 6,090 |
| EBITDA Margin % | 23.62% | 19.92% | 19.93% | 28.80% | 19.48% | 24.11% | 22.01% | 24.63% | 29.59% | 28.44% |
| Net Income | 2,230 | 1,210 | 1,220 | 2,780 | 930 | 1,300 | 2,070 | 310 | 2,360 | 2,750 |
| Net Margin % | 15.24% | 11.36% | 11.12% | 19.92% | 6.54% | 9.81% | 10.84% | 19.60% | 18.52% | 17.58% |
| Diluted EPS (CHF) | 3.94 | 2.14 | 2.16 | 4.93 | 1.65 | 2.30 | 3.61 | 0.54 | 4.08 | 4.67 |
| Dividend Per Share (CHF) | 1.52 | 1.56 | 1.63 | 1.64 | 1.80 | 0.94 | 1.83 | 3.25 | 3.60 | 2.86 |
| Balance Sheet | ||||||||||
| Total Assets | 20,130 | 20,160 | 25,560 | 28,040 | 30,460 | 35,360 | 39,990 | 40,890 | 42,680 | 41,010 |
| Total Liabilities | 5,080 | 4,630 | 10,920 | 11,000 | 13,200 | 17,480 | 20,120 | 21,870 | 22,050 | 18,840 |
| Total Equity | 15,050 | 15,530 | 14,640 | 17,040 | 17,260 | 17,880 | 19,860 | 19,020 | 20,640 | 22,170 |
| Cash & Equivalents | 4,570 | 4,450 | 8,400 | 5,060 | 4,460 | 7,880 | 9,880 | 10,940 | 10,710 | 7,610 |
| Working Capital | 10,160 | 10,530 | 13,270 | 10,980 | 10,930 | 13,070 | 14,880 | 18,060 | 19,440 | 18,560 |
| Book Value Per Share (CHF) | 26.14 | 26.92 | 25.91 | 30.01 | 30.32 | 31.42 | 34.92 | 33.24 | 35.06 | 37.59 |
| Total Debt / Equity | 0.17 | 0.15 | 0.56 | 0.42 | 0.57 | 0.76 | 0.76 | 0.83 | 0.79 | 0.59 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 1,960 | 1,620 | 2,380 | 2,030 | 2,370 | 3,220 | 4,640 | 4,490 | 4,700 | 4,440 |
| Cash from Investing | (1,290) | (480) | (3,300) | (2,840) | (830) | (2,200) | (2,280) | (2,070) | (2,560) | (1,550) |
| Cash from Financing | (1,200) | (960) | 2,850 | (1,460) | (1,920) | 910 | (1,770) | (2,320) | (1,820) | (2,550) |
| Capital Expenditure | 710 | 600 | 490 | 830 | 740 | 510 | 880 | 980 | 1,020 | 1,180 |
| Free Cash Flow | 1,410 | 1,290 | 1,640 | 1,700 | 1,940 | 2,180 | 3,680 | 4,670 | 4,330 | 3,960 |
| Change in Cash | (520) | 190 | 1,940 | (2,270) | (380) | 1,930 | 590 | 100 | 320 | 350 |
| Period ending Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue % | ||||||||||
| Year Over Year | 6.40% | (3.87%) | 3.12% | 27.42% | 1.78% | (7.68%) | 45.93% | 4.02% | 3.32% | 3.80% |
| 3-Year Average | 2.95% | (0.01%) | 1.79% | 8.09% | 10.17% | 6.18% | 11.10% | 11.91% | 16.19% | 3.71% |
| 5-Year Average | 9.95% | 3.73% | 1.58% | 5.61% | 6.46% | 3.48% | 12.49% | 12.69% | 8.06% | 8.49% |
| 10-Year Average | 9.90% | 8.23% | 7.55% | 9.95% | 10.65% | 6.67% | 8.02% | 6.99% | 6.83% | 7.47% |
| Operating Income % | ||||||||||
| Year Over Year | (14.82%) | (23.54%) | 16.50% | 5.32% | (21.90%) | (2.64%) | 127.98% | 49.48% | (4.71%) | (6.91%) |
| 3-Year Average | (5.12%) | (13.09%) | (8.79%) | (2.11%) | (1.41%) | (7.13%) | 20.13% | 49.15% | 48.08% | 9.86% |
| 5-Year Average | 8.83% | (4.72%) | (5.32%) | (4.24%) | (9.00%) | (6.53%) | 16.29% | 22.24% | 19.82% | 24.10% |
| 10-Year Average | 11.32% | 5.67% | 5.34% | 7.05% | 6.21% | 0.86% | 5.26% | 7.58% | 7.12% | 6.27% |
| Net Income % | ||||||||||
| Year Over Year | 66.94% | (45.67%) | 0.91% | 128.01% | (66.49%) | 39.44% | 59.42% | (84.91%) | 654.63% | 16.47% |
| 3-Year Average | 3.43% | (16.41%) | (2.91%) | 7.73% | (8.30%) | 2.14% | (9.35%) | (30.52%) | 21.99% | 9.87% |
| 5-Year Average | 15.36% | (4.76%) | (9.52%) | 6.09% | (6.90%) | (10.19%) | 11.38% | (23.83%) | (3.23%) | 24.14% |
| 10-Year Average | 7.37% | (0.93%) | (2.49%) | 9.98% | 4.53% | 1.79% | 3.00% | (16.98%) | 1.32% | 7.51% |
| EPS % | ||||||||||
| Year Over Year | 67.02% | (45.59%) | 0.79% | 128.31% | (66.59%) | 39.49% | 57.27% | (84.96%) | 650.83% | 14.57% |
| 3-Year Average | 3.06% | (16.49%) | (2.88%) | 7.78% | (8.39%) | 2.09% | (9.84%) | (30.90%) | 21.09% | 8.96% |
| 5-Year Average | 15.37% | (4.95%) | (9.70%) | 6.03% | (6.92%) | (10.21%) | 11.02% | (24.12%) | (3.72%) | 23.20% |
| 10-Year Average | 7.27% | (0.84%) | (2.43%) | 9.91% | 4.39% | 1.78% | 2.72% | (17.22%) | 1.04% | 7.08% |
| Fiscal Year End Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||||
| Return on Assets % | 10.98% | 6.01% | 5.34% | 10.39% | 3.19% | 3.95% | 5.51% | 0.77% | 5.65% | 6.57% |
| Return on Equity % | 15.11% | 7.91% | 8.10% | 17.63% | 5.47% | 7.45% | 11.04% | 1.61% | 11.97% | 12.91% |
| Return on Invested Capital % | 12.67% | 6.79% | 6.00% | 12.02% | 3.91% | 4.85% | 6.48% | 1.07% | 6.63% | 7.71% |
| Working Capital Efficiency | ||||||||||
| Days Sales Outstanding | 21.90 | 21.92 | 20.15 | 16.53 | 15.23 | 15.84 | 13.04 | 14.50 | 15.77 | 15.39 |
| Days Inventory | 497.19 | 504.96 | 488.30 | 380.06 | 416.57 | 448.29 | 342.30 | 415.36 | 418.14 | 438.03 |
| Payables Period | 43.53 | 42.45 | 39.94 | 40.64 | 44.11 | 44.04 | 40.87 | 48.66 | 41.55 | 38.69 |
| Cash Conversion Cycle | 475.57 | 484.43 | 468.51 | 355.95 | 387.69 | 420.09 | 314.47 | 381.19 | 392.36 | 414.73 |
| Asset Turnover | ||||||||||
| Receivables Turnover | 16.67 | 16.65 | 18.12 | 22.08 | 23.97 | 23.04 | 27.98 | 25.18 | 23.15 | 23.71 |
| Inventory Turnover | 0.73 | 0.72 | 0.75 | 0.96 | 0.88 | 0.81 | 1.07 | 0.88 | 0.87 | 0.83 |
| Fixed Assets Turnover | 4.50 | 4.23 | 4.50 | 5.54 | 3.29 | 2.22 | 3.07 | 2.96 | 2.85 | 2.70 |
| Asset Turnover | 0.55 | 0.53 | 0.48 | 0.52 | 0.49 | 0.40 | 0.51 | 0.49 | 0.49 | 0.51 |
| Fiscal Year End Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liquidity | ||||||||||
| Current Ratio | 3.42 | 3.70 | 3.10 | 2.74 | 2.86 | 2.61 | 2.42 | 2.47 | 2.65 | 2.90 |
| Quick Ratio | 2.11 | 2.29 | 2.29 | 1.69 | 1.64 | 1.77 | 1.68 | 1.61 | 1.79 | 1.88 |
| Leverage & Solvency | ||||||||||
| Interest Coverage | 35.30 | 25.92 | 26.43 | 21.98 | 7.24 | 8.05 | 14.28 | 17.52 | 11.75 | 10.29 |
| Financial Leverage | 1.34 | 1.30 | 1.75 | 1.65 | 1.78 | 1.99 | 2.02 | 2.16 | 2.08 | 1.86 |
| Debt / Equity | 0.03 | 0.03 | 0.29 | 0.25 | 0.39 | 0.50 | 0.46 | 0.49 | 0.47 | 0.38 |
| Per Share | ||||||||||
| Book Value Per Share (CHF) | 26.14 | 26.92 | 25.91 | 30.01 | 30.32 | 31.42 | 34.92 | 33.24 | 35.06 | 37.59 |
| Cash Value Per Share (CHF) | — | — | — | 18.97 | 16.53 | 26.21 | 29.43 | 31.56 | 32.73 | 27.21 |
| Capital Expenditure | ||||||||||
| Capex as % of Sales | 6.41% | 5.63% | 4.44% | 5.90% | 5.18% | 3.90% | 4.56% | 4.93% | 4.95% | 5.51% |
| Fiscal Year End Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow Growth | ||||||||||
| Operating CF Growth % YoY | 15.26% | (17.57%) | 47.25% | (15.02%) | 16.98% | 35.78% | 44.13% | (3.17%) | 4.56% | (5.39%) |
| Free Cash Flow Growth % YoY | 25.90% | (18.66%) | 85.98% | (36.74%) | 36.08% | 65.65% | 39.11% | (6.80%) | 4.79% | (11.21%) |
| Cash Flow Margins & Quality | ||||||||||
| Free Cash Flow / Sales % | 11.32% | 9.58% | 17.28% | 8.58% | 11.47% | 20.58% | 19.62% | 17.58% | 17.83% | 15.25% |
| Free Cash Flow / Net Income | 0.56 | 0.84 | 1.55 | 0.43 | 1.75 | 2.08 | 1.81 | 11.20 | 1.56 | 1.19 |
| Free Cash Flow Per Share (CHF) | 2.16 | 1.75 | 3.36 | 2.90 | 2.77 | 3.36 | 6.27 | 5.96 | 6.12 | 5.32 |
| Fiscal Year End Mar | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Price Multiples | ||||||||||
| Price / Sales | 3.38 | 4.10 | — | 2.63 | 3.42 | 4.34 | 3.36 | 3.34 | 4.11 | 4.92 |
| Price / Earnings | 33.85 | 27.86 | — | 27.40 | 189.05 | 30.28 | 22.87 | 17.00 | 24.81 | 28.22 |
| Price / Forward Earnings | 24.45 | 21.79 | — | 22.24 | 29.86 | 24.72 | 17.80 | 15.90 | 20.83 | 27.29 |
| Price / Cash Flow | 21.61 | 19.49 | — | 14.32 | 20.50 | 17.47 | 13.45 | 12.35 | 16.80 | 20.13 |
| Price / Book | 2.45 | 3.04 | — | 2.32 | 2.54 | 3.91 | 3.90 | 3.60 | 4.31 | 4.87 |
| PEG Ratio | 3.70 | 0.47 | — | 4.63 | 17.77 | 1.69 | 1.90 | 1.80 | 1.33 | 0.38 |
| Earnings & Enterprise Value | ||||||||||
| Earnings Yield % | 2.95% | 3.59% | — | 3.65% | 0.53% | 3.30% | 4.37% | 5.88% | 4.03% | 3.54% |
| Enterprise Value (CHF Bil) | 33.15 | 44.60 | — | 44.88 | 46.73 | 77.97 | 67.16 | 66.31 | 79.11 | 99.48 |
| EV / EBIT | 23.82 | 19.50 | — | 22.15 | 68.45 | 25.43 | 17.33 | 14.42 | 19.88 | 22.63 |
| EV / EBITDA | 16.64 | 15.41 | — | 13.57 | 68.45 | 25.43 | 17.33 | 14.42 | 19.62 | 16.88 |