Balance Sheet Bayer AG

Equities

BAYN

DE000BAY0017

Pharmaceuticals

Real-time Estimate Tradegate Other stock markets 08:56:14 18/09/2024 pm IST			5-day change	1st Jan Change
27.95 ^EUR	+1.78%		-2.65%	-16.98%

02:11pm	BAYER AG : Jefferies gives a Neutral rating	ZD
16/09	Bayer: results for prostate cancer treatment	CF

7f60ca8e9e.6WIAmbabkyAGC94h1cmeRWcTPT8Y5PREQu8xpit8qLU.hg8409z_8EVxQelMl5_2Jwkkem5R1KQrIY1pynoMm8eIKETJ99fHV3JDhw

Published financial data: BAYER AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4.35TCr	4.14TCr	4.41TCr	5.07TCr	4.76TCr
Total Revenues	4.35TCr	4.14TCr	4.41TCr	5.07TCr	4.76TCr
Cost of Goods Sold, Total	1.63TCr	1.57TCr	1.7TCr	1.89TCr	1.97TCr
Gross Profit	2.73TCr	2.57TCr	2.7TCr	3.19TCr	2.79TCr
Selling General & Admin Expenses, Total	1.49TCr	1.39TCr	1.46TCr	1.6TCr	1.47TCr
R&D Expenses	532.3Cr	488.4Cr	532.6Cr	616.8Cr	583.5Cr
Other Operating Expenses	36Cr	2.8Cr	2.7Cr	53Cr	-46Cr
Other Operating Expenses, Total	2.05TCr	1.88TCr	2TCr	2.27TCr	2.01TCr
Operating Income	673.2Cr	687.5Cr	707.1Cr	912.1Cr	779.9Cr
Interest Expense, Total	-170.4Cr	-150Cr	-128.6Cr	-105.8Cr	-113.4Cr
Interest And Investment Income	32Cr	20Cr	35Cr	38Cr	48Cr
Net Interest Expenses	-137.9Cr	-129.8Cr	-94Cr	-68Cr	-65Cr
Income (Loss) On Equity Invest.	16Cr	-9.6Cr	4.9Cr	-15Cr	-16Cr
Currency Exchange Gains (Loss)	5.8Cr	-22Cr	-38Cr	-22Cr	-45Cr
Other Non Operating Income (Expenses)	-30L	10Cr	2.3Cr	-84Cr	-79Cr
EBT, Excl. Unusual Items	556.8Cr	536.7Cr	581.8Cr	722.9Cr	575Cr
Restructuring Charges	-	-5.2Cr	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-21Cr	-223.8Cr	-	-73Cr	-669Cr
Gain (Loss) On Sale Of Investments	-10L	54Cr	-3.9Cr	-45Cr	-18Cr
Gain (Loss) On Sale Of Assets	47Cr	3.4Cr	8.6Cr	-	-
Asset Writedown	-3.4Cr	9.2Cr	13Cr	169.1Cr	15Cr
Insurance Settlements	5.3Cr	-	-	-	-
Legal Settlements	-34Cr	-1.33TCr	-368.9Cr	-79Cr	-89Cr
Other Unusual Items	-262.7Cr	-766.4Cr	-26Cr	-227.5Cr	24Cr
EBT, Incl. Unusual Items	288Cr	-1.72TCr	204.6Cr	467Cr	-162.1Cr
Income Tax Expense	45Cr	-168.9Cr	102.4Cr	50Cr	132.1Cr
Earnings From Continuing Operations	243Cr	-1.56TCr	102.2Cr	416.6Cr	-294.2Cr
Earnings Of Discontinued Operations	168Cr	507.4Cr	-	-	-
Net Income to Company	411Cr	-1.05TCr	102.2Cr	416.6Cr	-294.2Cr
Minority Interest	-1.9Cr	-80L	-2.2Cr	-1.6Cr	10L
Net Income - (IS)	409.1Cr	-1.05TCr	100Cr	415Cr	-294.1Cr
Net Income to Common Incl Extra Items	409.1Cr	-1.05TCr	100Cr	415Cr	-294.1Cr
Net Income to Common Excl. Extra Items	241.1Cr	-1.56TCr	100Cr	415Cr	-294.1Cr
Per Share Items
Net EPS - Basic	4.17	-10.68	1.02	4.22	-2.99
Basic EPS - Continuing Operations	2.46	-15.85	1.02	4.22	-2.99
Basic Weighted Average Shares Outstanding	98Cr	98Cr	98Cr	98Cr	98Cr
Net EPS - Diluted	4.17	-10.69	1.02	4.22	-2.99
Diluted EPS - Continuing Operations	2.46	-15.85	1.02	4.22	-2.99
Diluted Weighted Average Shares Outstanding	98Cr	98Cr	98Cr	98Cr	98Cr
Normalized Basic EPS	3.53	3.41	3.68	4.58	3.66
Normalized Diluted EPS	3.53	3.41	3.68	4.58	3.66
Dividend Per Share	2.8	2	2	2.4	0.11
Payout Ratio	63.82	-26.21	199.3	47.83	-80.89
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.06TCr	993.3Cr	834.2Cr	1.27TCr	1.13TCr
EBITA	908.2Cr	869.6Cr	718.8Cr	1.15TCr	1.01TCr
EBIT	673.2Cr	687.5Cr	707.1Cr	912.1Cr	779.9Cr
EBITDAR	1.09TCr	1.02TCr	862.8Cr	1.32TCr	1.18TCr
Effective Tax Rate - (Ratio)	15.62	9.79	50.05	10.79	-81.49
Current Domestic Taxes	108.7Cr	72Cr	60Cr	91Cr	36Cr
Current Foreign Taxes	70Cr	57Cr	102.2Cr	165.9Cr	88Cr
Total Current Taxes	179.1Cr	128.7Cr	162.6Cr	257.1Cr	124.3Cr
Total Deferred Taxes	-134.1Cr	-297.6Cr	-60Cr	-206.7Cr	7.8Cr
Normalized Net Income	346.1Cr	334.64Cr	361.42Cr	450.21Cr	359.48Cr
Interest Capitalized	4.5Cr	3.4Cr	3Cr	3.8Cr	5.3Cr
Interest on Long-Term Debt	-	-	-	-	7.2Cr
Non-Cash Pension Expense	15Cr	9.2Cr	6.2Cr	7.8Cr	12Cr
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.21TCr	1.16TCr	1.23TCr	1.35TCr	1.26TCr
General and Administrative Expenses	259.1Cr	217Cr	225.7Cr	249Cr	214.2Cr
Research And Development Expense From Footnotes	534.9Cr	853.1Cr	572.1Cr	740.4Cr	563Cr
Net Rental Expense, Total	29Cr	27Cr	29Cr	45Cr	46Cr
Imputed Operating Lease Interest Expense	10Cr	8.23Cr	7.29Cr	9.5Cr	10Cr
Imputed Operating Lease Depreciation	19Cr	19Cr	21Cr	35Cr	36Cr
Stock-Based Comp., Other (Total)	30Cr	6.3Cr	24Cr	36Cr	15Cr
Total Stock-Based Compensation	30Cr	6.3Cr	24Cr	36Cr	15Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	318.5Cr	419.1Cr	456.4Cr	517.1Cr	590.7Cr
Short Term Investments	93Cr	131.1Cr	67Cr	3.2Cr	76Cr
Trading Asset Securities, Total	129.1Cr	638.1Cr	250.6Cr	495Cr	392.5Cr
Total Cash And Short Term Investments	540.4Cr	1.19TCr	773.9Cr	1.02TCr	1.06TCr
Accounts Receivable, Total	1.17TCr	955.6Cr	1.01TCr	1.03TCr	934.8Cr
Other Receivables	317.3Cr	258.7Cr	292.8Cr	313.3Cr	317.4Cr
Notes Receivable	-	-	-	-	-
Total Receivables	1.49TCr	1.21TCr	1.3TCr	1.34TCr	1.25TCr
Inventory	1.08TCr	1.1TCr	1.13TCr	1.36TCr	1.39TCr
Other Current Assets, Total	153.4Cr	67Cr	54Cr	52Cr	50Cr
Total Current Assets	3.26TCr	3.57TCr	3.26TCr	3.78TCr	3.76TCr
Gross Property Plant And Equipment	2.44TCr	2.36TCr	2.62TCr	2.83TCr	2.93TCr
Accumulated Depreciation	-1.19TCr	-1.19TCr	-1.35TCr	-1.47TCr	-1.59TCr
Net Property Plant And Equipment	1.25TCr	1.17TCr	1.27TCr	1.37TCr	1.33TCr
Long-term Investments	198.4Cr	199.8Cr	261.2Cr	289.5Cr	306Cr
Goodwill	3.91TCr	3.61TCr	4.01TCr	3.96TCr	3.23TCr
Other Intangibles, Total	2.92TCr	2.16TCr	2.2TCr	2.04TCr	1.98TCr
Accounts Receivable Long-Term	-	10L	2.4Cr	2.4Cr	2.3Cr
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	457.6Cr	468.6Cr	458Cr	560.5Cr	547.1Cr
Deferred Charges Long-Term	551.7Cr	441.8Cr	431.2Cr	379.7Cr	355.8Cr
Other Long-Term Assets, Total	80Cr	85Cr	138.3Cr	105.5Cr	114.9Cr
Total Assets	13TCr	12TCr	12TCr	12TCr	12TCr
Liabilities
Accounts Payable, Total	642.6Cr	568.3Cr	679.2Cr	754.5Cr	745.6Cr
Accrued Expenses, Total	318.9Cr	257.3Cr	350.5Cr	357.3Cr	249.5Cr
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	188.3Cr	835.8Cr	415.5Cr	757.9Cr	653.6Cr
Current Portion of Leases	30Cr	21Cr	24Cr	28Cr	29Cr
Current Income Taxes Payable	76Cr	226.9Cr	69Cr	105.6Cr	62Cr
Unearned Revenue Current, Total	334.6Cr	362.8Cr	409.1Cr	419.8Cr	391.1Cr
Other Current Liabilities	731.4Cr	1.4TCr	993.8Cr	1.09TCr	814.6Cr
Total Current Liabilities	2.32TCr	3.67TCr	2.94TCr	3.51TCr	2.95TCr
Long-Term Debt	3.6TCr	3.23TCr	3.56TCr	3.28TCr	3.72TCr
Long-Term Leases	95Cr	92Cr	93Cr	95Cr	94Cr
Unearned Revenue Non Current	76Cr	74Cr	81Cr	60Cr	47Cr
Pension & Other Post Retirement Benefits	821.3Cr	845.4Cr	717.5Cr	438.8Cr	401.4Cr
Deferred Tax Liability Non Current	375.5Cr	133.1Cr	93Cr	73Cr	79Cr
Other Non Current Liabilities	589Cr	589.5Cr	1.23TCr	1.14TCr	1.03TCr
Total Liabilities	7.87TCr	8.63TCr	8.71TCr	8.6TCr	8.32TCr
Common Stock, Total	251.5Cr	251.5Cr	251.5Cr	251.5Cr	251.5Cr
Retained Earnings	2.62TCr	1.31TCr	1.33TCr	1.72TCr	1.22TCr
Comprehensive Income and Other	1.86TCr	1.5TCr	1.72TCr	1.9TCr	1.82TCr
Total Common Equity	4.73TCr	3.05TCr	3.3TCr	3.88TCr	3.29TCr
Minority Interest	18Cr	18Cr	15Cr	15Cr	15Cr
Total Equity	4.75TCr	3.07TCr	3.32TCr	3.89TCr	3.31TCr
Total Liabilities And Equity	13TCr	12TCr	12TCr	12TCr	12TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	98Cr	98Cr	98Cr	98Cr	98Cr
ECS Total Common Shares Outstanding	98Cr	98Cr	98Cr	98Cr	98Cr
Book Value / Share	48.18	31.07	33.61	39.47	33.52
Tangible Book Value	-2.1TCr	-2.72TCr	-2.9TCr	-2.13TCr	-1.92TCr
Tangible Book Value Per Share	-21.38	-27.68	-29.56	-21.67	-19.54
Total Debt	3.91TCr	4.18TCr	4.09TCr	4.17TCr	4.5TCr
Net Debt	3.37TCr	2.99TCr	3.31TCr	3.15TCr	3.44TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	772.9Cr	796.5Cr	625.6Cr	358.5Cr	306.1Cr
Debt Equivalent Oper. Leases	234.4Cr	216.8Cr	228.8Cr	357.6Cr	368.8Cr
Minority Interest, Total (Incl. Fin. Div)	18Cr	18Cr	15Cr	15Cr	15Cr
Equity Method Investments, Total	52Cr	49Cr	63Cr	89Cr	85Cr
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	253.1Cr	265.2Cr	201.1Cr	269.5Cr	251.5Cr
Inventories - Work In Process, Total	812.3Cr	821Cr	916.4Cr	1.07TCr	1.13TCr
Inventories - Others	12Cr	9.9Cr	14Cr	22Cr	14Cr
Land - (BS)	836.2Cr	907.1Cr	982.7Cr	1.05TCr	1.07TCr
Machinery, Total	1.18TCr	1.2TCr	1.32TCr	1.46TCr	1.53TCr
Full Time Employees	98.74T	95.96T	95.95T	97.92T	96.93T
Accumulated Allowance for Doubtful Accounts (Supple)	68Cr	62Cr	65Cr	70Cr	64Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	409.1Cr	-1.05TCr	100Cr	415Cr	-294.1Cr
Depreciation & Amortization - CF	186.2Cr	162.3Cr	149.2Cr	154.5Cr	159.3Cr
Amortization of Goodwill and Intangible Assets - (CF)	235Cr	182.1Cr	12Cr	240.4Cr	231.6Cr
Depreciation & Amortization, Total	421.2Cr	344.4Cr	160.9Cr	394.9Cr	390.9Cr
(Gain) Loss From Sale Of Asset	-45Cr	-13Cr	-22Cr	-169.2Cr	-15Cr
Asset Writedown & Restructuring Costs	115.3Cr	981.5Cr	144.7Cr	255.4Cr	611.1Cr
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Net Cash From Discontinued Operations	21Cr	33Cr	-	-	-
Other Operating Activities, Total	-246.3Cr	-673.7Cr	19Cr	83Cr	225.5Cr
Change In Accounts Receivable	1.4Cr	70Cr	-6.1Cr	27Cr	69Cr
Change In Inventories	-10Cr	-90Cr	-17Cr	-217Cr	-43Cr
Change In Accounts Payable	76Cr	-35Cr	85Cr	61Cr	8.2Cr
Change in Other Net Operating Assets	79Cr	922Cr	44Cr	-140.7Cr	-440.6Cr
Cash from Operations	820.7Cr	490.3Cr	508.9Cr	709.3Cr	511.7Cr
Capital Expenditure	-265Cr	-241.8Cr	-261.1Cr	-294.9Cr	-275.1Cr
Sale of Property, Plant, and Equipment	28Cr	33Cr	37Cr	113Cr	22Cr
Cash Acquisitions	-41Cr	-226.3Cr	-134Cr	-8.9Cr	-66Cr
Divestitures	254.6Cr	417.2Cr	-60L	228.7Cr	80L
Investment in Marketable and Equity Securities, Total	-58Cr	-402.7Cr	430.2Cr	-297.8Cr	-31Cr
Other Investing Activities, Total	14Cr	13Cr	14Cr	22Cr	-2.1Cr
Cash from Investing	-67Cr	-407.3Cr	86Cr	-238.1Cr	-351.7Cr
Long-Term Debt Issued, Total	746.4Cr	1.09TCr	659.2Cr	663.1Cr	1.63TCr
Total Debt Issued	746.4Cr	1.09TCr	659.2Cr	663.1Cr	1.63TCr
Long-Term Debt Repaid, Total	-1.18TCr	-642.4Cr	-904.4Cr	-760.5Cr	-1.3TCr
Total Debt Repaid	-1.18TCr	-642.4Cr	-904.4Cr	-760.5Cr	-1.3TCr
Issuance of Common Stock	-	-	-	-	2.3Cr
Repurchase of Common Stock	-	-	-	-1Cr	-2.4Cr
Common Dividends Paid	-261.1Cr	-275.1Cr	-199.3Cr	-198.5Cr	-237.9Cr
Common & Preferred Stock Dividends Paid	-261.1Cr	-275.1Cr	-199.3Cr	-198.5Cr	-237.9Cr
Other Financing Activities, Total	-148.2Cr	-129.3Cr	-120Cr	-125.1Cr	-155.2Cr
Cash from Financing	-838.9Cr	42Cr	-564.5Cr	-422Cr	-68Cr
Foreign Exchange Rate Adjustments	60L	-24Cr	3.5Cr	11Cr	-18Cr
Miscellaneous Cash Flow Adjustments	-2Cr	-70L	3.9Cr	30L	-
Net Change in Cash	-87Cr	100.6Cr	37Cr	61Cr	74Cr
Supplemental Items
Cash Interest Paid	151.7Cr	130.1Cr	122.7Cr	129.6Cr	153.7Cr
Cash Income Tax Paid (Refund)	256.1Cr	106.3Cr	215.9Cr	203.4Cr	177Cr
Levered Free Cash Flow	550.55Cr	1.48TCr	-138.24Cr	584.74Cr	151.86Cr
Unlevered Free Cash Flow	657.05Cr	1.58TCr	-58Cr	650.86Cr	222.74Cr
Change In Net Working Capital	-50Cr	-1.04TCr	423.4Cr	56Cr	395.8Cr
Net Debt Issued / Repaid	-429.6Cr	446.7Cr	-245.2Cr	-97Cr	325.3Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.33	3.53	3.73	4.65	4.04
Return on Total Capital	4.83	5.41	6.03	7.37	6.14
Return On Equity %	5.19	-39.83	3.2	11.56	-8.17
Return on Common Equity	5.17	-40.03	3.15	11.56	-8.2
Margin Analysis
Gross Profit Margin %	62.62	62.01	61.33	62.78	58.55
SG&A Margin	34.12	33.54	33.15	31.6	30.89
EBITDA Margin %	24.25	23.99	18.92	25.04	23.79
EBITA Margin %	20.86	21	16.31	22.71	21.23
EBIT Margin %