Cash flow BMW AG

Equities

BMW

DE0005190003

Auto & Truck Manufacturers

Market Closed - Xetra Other stock markets 09:06:09 17/09/2024 pm IST			5-day change	1st Jan Change
72.92 ^EUR	+0.55%		-6.08%	-27.64%

17/09	More than every second new electric car is an SUV	DP
17/09	Bernstein lowers target for BMW to 86 euros - 'Outperform'	DP

697a82.xcJet9I8QJTRpQ3Th8B2tM7y4oQDPNrlHdElYxnJJ44.lPtu3KVGC_W1kWax15Msmby-0MVaTuzWaoJULVquTPmCtA-BvwoS_ajGbg

Published financial data: BMW AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.46TCr	6.89TCr	7.84TCr	11TCr	12TCr
Finance Div. Revenues	2.96TCr	3TCr	3.29TCr	3.51TCr	3.62TCr
Total Revenues	10TCr	9.9TCr	11TCr	14TCr	16TCr
Cost of Goods Sold, Total	6.25TCr	5.84TCr	6.15TCr	8.76TCr	9.43TCr
Finance Div. Operating Exp.	2.27TCr	2.83TCr	2.92TCr	3.2TCr	3.33TCr
Interest Expense - Finance Division	229.5Cr	40L	30L	60L	1.1Cr
Gross Profit	1.67TCr	1.22TCr	2.05TCr	2.3TCr	2.8TCr
Selling General & Admin Expenses, Total	806.7Cr	750.3Cr	787Cr	908.4Cr	947.5Cr
Other Operating Expenses	-11Cr	-13Cr	-74Cr	-5.5Cr	14Cr
Other Operating Expenses, Total	795.3Cr	737.4Cr	713.4Cr	902.9Cr	961.1Cr
Operating Income	872.2Cr	483.7Cr	1.34TCr	1.4TCr	1.84TCr
Interest Expense, Total	-45Cr	-42Cr	-14Cr	-	-64Cr
Interest And Investment Income	18Cr	11Cr	13Cr	42Cr	70Cr
Net Interest Expenses	-28Cr	-31Cr	-70L	42Cr	6Cr
Income (Loss) On Equity Invest.	14Cr	92Cr	152Cr	-10Cr	-16Cr
Currency Exchange Gains (Loss)	-3.3Cr	4Cr	2.8Cr	1.4Cr	2.8Cr
Other Non Operating Income (Expenses)	-48Cr	-23Cr	64Cr	147.7Cr	-112.8Cr
EBT, Excl. Unusual Items	806.8Cr	526.1Cr	1.56TCr	1.58TCr	1.72TCr
Gain (Loss) On Sale Of Investments	8Cr	4.8Cr	58Cr	777Cr	-5.7Cr
Gain (Loss) On Sale Of Assets	4.1Cr	-8.7Cr	-8.5Cr	-4.3Cr	-90L
Asset Writedown	-	-	-	-	-
Legal Settlements	-140Cr	-	-	-	-
Other Unusual Items	33Cr	-	-	-	-
EBT, Incl. Unusual Items	711.8Cr	522.2Cr	1.61TCr	2.35TCr	1.71TCr
Income Tax Expense	214Cr	136.5Cr	359.7Cr	492.7Cr	493.1Cr
Earnings From Continuing Operations	497.8Cr	385.7Cr	1.25TCr	1.86TCr	1.22TCr
Earnings Of Discontinued Operations	4.4Cr	-	-	-	-
Net Income to Company	502.2Cr	385.7Cr	1.25TCr	1.86TCr	1.22TCr
Minority Interest	-11Cr	-8.2Cr	-8.1Cr	-64Cr	-88Cr
Net Income - (IS)	491.5Cr	377.5Cr	1.24TCr	1.79TCr	1.13TCr
Net Income to Common Incl Extra Items	491.5Cr	377.5Cr	1.24TCr	1.79TCr	1.13TCr
Net Income to Common Excl. Extra Items	487.1Cr	377.5Cr	1.24TCr	1.79TCr	1.13TCr
Per Share Items
Net EPS - Basic	7.47	5.73	18.77	27.31	17.68
Basic EPS - Continuing Operations	7.4	5.73	18.77	27.31	17.68
Basic Weighted Average Shares Outstanding	66Cr	66Cr	66Cr	66Cr	64Cr
Net EPS - Diluted	7.47	5.73	18.77	27.31	17.68
Diluted EPS - Continuing Operations	7.4	5.73	18.77	27.31	17.68
Diluted Weighted Average Shares Outstanding	66Cr	66Cr	66Cr	66Cr	64Cr
Normalized Basic EPS	7.5	4.87	14.62	14.04	15.42
Normalized Diluted EPS	7.5	4.87	14.62	14.04	15.42
Dividend Per Share	2.5	1.9	5.8	8.5	6
Payout Ratio	46.86	43.6	10.12	21.33	48.1
American Depositary Receipts Ratio (ADR)	0.33	0.33	0.33	0.33	0.33
Supplemental Items
EBITDA	1.26TCr	876.2Cr	1.75TCr	1.96TCr	2.41TCr
EBITA	887Cr	502Cr	1.36TCr	1.54TCr	1.98TCr
EBIT	872.2Cr	483.7Cr	1.34TCr	1.4TCr	1.84TCr
EBITDAR	1.27TCr	886.6Cr	1.75TCr	1.97TCr	2.42TCr
Effective Tax Rate - (Ratio)	30.06	26.14	22.4	20.96	28.84
Total Current Taxes	331.6Cr	202.3Cr	251.2Cr	506.9Cr	537Cr
Total Deferred Taxes	-117.6Cr	-66Cr	108.5Cr	-14Cr	-44Cr
Normalized Net Income	493.55Cr	320.61Cr	964.46Cr	922.28Cr	985.12Cr
Interest on Long-Term Debt	-	5.5Cr	4.8Cr	5.6Cr	6.6Cr
Non-Cash Pension Expense	-15Cr	8.8Cr	55Cr	2.3Cr	-1.7Cr
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	595.2Cr	568.9Cr	629.9Cr	662.4Cr	753.8Cr
Net Rental Expense, Total	9.7Cr	10Cr	8.8Cr	9.4Cr	9.3Cr
Imputed Operating Lease Interest Expense	39.4L	51.7L	15.92L	-	91.21L
Imputed Operating Lease Depreciation	9.31Cr	9.88Cr	8.64Cr	-	8.39Cr
Stock-Based Comp., SG&A Exp. (Total)	-	90L	-	-	-
Stock-Based Comp., Other (Total)	1.2Cr	18.2L	27.43L	6L	6L
Total Stock-Based Compensation	1.2Cr	1.08Cr	27.43L	6L	6L

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	996.1Cr	1.07TCr	1.25TCr	1.33TCr	1.42TCr
Total Cash And Short Term Investments	996.1Cr	1.07TCr	1.25TCr	1.33TCr	1.42TCr
Accounts Receivable, Total	241.5Cr	219.8Cr	216.7Cr	401.3Cr	397.8Cr
Other Receivables	708Cr	54Cr	724.6Cr	96Cr	522.8Cr
Total Receivables	949.5Cr	274Cr	941.3Cr	497.5Cr	920.6Cr
Inventory	1.51TCr	1.41TCr	1.55TCr	1.95TCr	2.3TCr
Finance Division Loans and Leases Current	4.15TCr	3.64TCr	3.58TCr	3.55TCr	3.7TCr
Finance Division Other Current Assets, Total	296.7Cr	374.5Cr	395.8Cr	418.8Cr	388.5Cr
Other Current Assets, Total	1.16TCr	1.42TCr	894.1Cr	1.48TCr	759.6Cr
Total Current Assets	9.06TCr	8.18TCr	8.62TCr	9.22TCr	9.5TCr
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	2.32TCr	2.18TCr	2.23TCr	3.2TCr	3.52TCr
Long-term Investments	390.2Cr	432Cr	635.3Cr	177.1Cr	164Cr
Other Intangibles, Total	1.13TCr	1.2TCr	1.26TCr	2.14TCr	1.97TCr
Finance Division Loans and Leases Long-Term	5.1TCr	4.8TCr	5.17TCr	5.04TCr	5.05TCr
Finance Division Other Long-Term Assets, Total	4.31TCr	4.24TCr	4.51TCr	4.33TCr	4.36TCr
Deferred Tax Assets Long-Term	219.4Cr	245.9Cr	220.2Cr	175.8Cr	243.1Cr
Other Long-Term Assets, Total	269.5Cr	386Cr	301.7Cr	410.3Cr	292.4Cr
Total Assets	23TCr	22TCr	23TCr	25TCr	25TCr
Liabilities
Accounts Payable, Total	923.9Cr	775.2Cr	1TCr	1.33TCr	1.45TCr
Accrued Expenses, Total	-	-	-	-	-
Current Portion of Long-Term Debt	1.92TCr	1.39TCr	1.69TCr	1.5TCr	1.67TCr
Finance Division Debt Current	2.69TCr	2.51TCr	2.42TCr	2.57TCr	2.54TCr
Finance Division Other Current Liabilities, Total	143.6Cr	147.2Cr	149.4Cr	149.4Cr	177Cr
Current Income Taxes Payable	77Cr	56Cr	78Cr	110.1Cr	126Cr
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	2.51TCr	2.32TCr	2.3TCr	2.78TCr	2.74TCr
Total Current Liabilities	8.26TCr	7.2TCr	7.65TCr	8.44TCr	8.7TCr
Long-Term Debt	5.25TCr	4.97TCr	4.34TCr	3.71TCr	3.49TCr
Finance Division Debt Non Current	1.82TCr	1.77TCr	1.89TCr	1.63TCr	1.8TCr
Finance Division Other Non Current Liabilities, Total	15Cr	20Cr	19Cr	18Cr	18Cr
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	328.8Cr	364.4Cr	121.2Cr	32Cr	41Cr
Deferred Tax Liability Non Current	63Cr	51Cr	145.8Cr	276.5Cr	279.7Cr
Other Non Current Liabilities	1.08TCr	1.14TCr	1.27TCr	1.45TCr	1.47TCr
Total Liabilities	17TCr	16TCr	15TCr	16TCr	16TCr
Common Stock, Total	66Cr	66Cr	66Cr	66Cr	64Cr
Additional Paid In Capital	216.1Cr	219.9Cr	232.5Cr	243.2Cr	245.6Cr
Retained Earnings	5.77TCr	5.96TCr	7.17TCr	8.54TCr	8.91TCr
Treasury Stock	-	-	-	-127.8Cr	-50Cr
Comprehensive Income and Other	-116.3Cr	-151.8Cr	-32Cr	-12Cr	-207.1Cr
Total Common Equity	5.93TCr	6.09TCr	7.44TCr	8.71TCr	8.96TCr
Minority Interest	58Cr	63Cr	77Cr	416.3Cr	332.7Cr
Total Equity	5.99TCr	6.15TCr	7.51TCr	9.13TCr	9.29TCr
Total Liabilities And Equity	23TCr	22TCr	23TCr	25TCr	25TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	66Cr	66Cr	66Cr	65Cr	63Cr
ECS Total Common Shares Outstanding	66Cr	66Cr	66Cr	65Cr	63Cr
Book Value / Share	90.14	92.3	112.44	134.85	141.42
Tangible Book Value	4.76TCr	4.85TCr	6.14TCr	6.53TCr	6.96TCr
Tangible Book Value Per Share	72.32	73.59	92.81	101.15	109.82
Total Debt	12TCr	11TCr	10TCr	9.42TCr	9.5TCr
Net Debt	11TCr	9.57TCr	9.09TCr	8.09TCr	8.08TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	331.2Cr	367.7Cr	-2.2Cr	-70Cr	-43Cr
Debt Equivalent Oper. Leases	78Cr	83Cr	70Cr	75Cr	74Cr
Minority Interest, Total (Incl. Fin. Div)	58Cr	63Cr	77Cr	416.3Cr	332.7Cr
Equity Method Investments, Total	340.3Cr	380.1Cr	536.5Cr	71Cr	68Cr
Account Code - Inventory Valuation	6	6	6	6	6
Full Time Employees	1L	1L	1L	1L	2L
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	491.5Cr	377.5Cr	1.24TCr	1.79TCr	1.13TCr
Depreciation & Amortization - CF	420.2Cr	424.6Cr	435.8Cr	482.7Cr	511.7Cr
Amortization of Goodwill and Intangible Assets - (CF)	15Cr	18Cr	20Cr	147.4Cr	147Cr
Depreciation & Amortization, Total	435Cr	442.9Cr	456Cr	630.1Cr	658.7Cr
Amortization of Deferred Charges, Total - (CF)	166.7Cr	171Cr	193.5Cr	226.5Cr	238.7Cr
(Gain) Loss From Sale Of Asset	40L	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Operating	-356Cr	419.2Cr	96Cr	188.8Cr	-362.2Cr
(Income) Loss On Equity Investments - (CF)	-14Cr	-92Cr	-152Cr	10Cr	16Cr
Net Cash From Discontinued Operations	-4.4Cr	-	-	-	-
Other Operating Activities, Total	-502.5Cr	-81Cr	-132.6Cr	-329.5Cr	10Cr
Change In Accounts Receivable	1.4Cr	16Cr	12Cr	-94Cr	-19Cr
Change In Inventories	-156Cr	37Cr	-56Cr	-12Cr	-413.5Cr
Change In Accounts Payable	43Cr	-152.6Cr	179.9Cr	53Cr	160.7Cr
Change in Other Net Operating Assets	260.8Cr	186.9Cr	-244.8Cr	-115.4Cr	335.1Cr
Cash from Operations	366.2Cr	1.33TCr	1.59TCr	2.35TCr	1.75TCr
Capital Expenditure	-690.2Cr	-615Cr	-661.9Cr	-905Cr	-1.09TCr
Sale of Property, Plant, and Equipment	3.2Cr	3.4Cr	4Cr	10Cr	12Cr
Cash Acquisitions	-	-	-	358.7Cr	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-110.7Cr	140.7Cr	14Cr	49Cr	121.7Cr
Other Investing Activities, Total	69Cr	107.3Cr	5.4Cr	10Cr	-
Cash from Investing	-728.4Cr	-363.6Cr	-638.9Cr	-477.2Cr	-954.8Cr
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	15TCr	17TCr	23TCr	1.6TCr	2.39TCr
Total Debt Issued	15TCr	17TCr	23TCr	1.6TCr	2.39TCr
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-14TCr	-17TCr	-23TCr	-2.73TCr	-2.24TCr
Total Debt Repaid	-14TCr	-17TCr	-23TCr	-2.73TCr	-2.24TCr
Issuance of Common Stock	3.3Cr	2.8Cr	10Cr	8.5Cr	-
Repurchase of Common Stock	-	-	-	-127.8Cr	-124.2Cr
Common Dividends Paid	-230.3Cr	-164.6Cr	-125.3Cr	-382.7Cr	-543Cr
Common & Preferred Stock Dividends Paid	-230.3Cr	-164.6Cr	-125.3Cr	-382.7Cr	-543Cr
Other Financing Activities, Total	-26Cr	-30Cr	-24Cr	-167.7Cr	-167.1Cr
Cash from Financing	479Cr	-825.4Cr	-673.5Cr	-1.8TCr	-685.9Cr
Foreign Exchange Rate Adjustments	-2.8Cr	18Cr	-31Cr	10Cr	-70Cr
Miscellaneous Cash Flow Adjustments	-8.3Cr	-4Cr	-	-1Cr	2.7Cr
Net Change in Cash	105.7Cr	150.1Cr	247.2Cr	86Cr	46Cr
Supplemental Items
Cash Interest Paid	20Cr	28Cr	22Cr	22Cr	19Cr
Cash Income Tax Paid (Refund)	338.9Cr	160.5Cr	321.7Cr	451.2Cr	504.9Cr
Levered Free Cash Flow	3.02TCr	694.64Cr	713.14Cr	1.28TCr	814.77Cr
Unlevered Free Cash Flow	3.05TCr	720.89Cr	721.89Cr	1.28TCr	854.52Cr
Change In Net Working Capital	-2.59TCr	-418.6Cr	102.3Cr	-459.4Cr	102.4Cr
Net Debt Issued / Repaid	732.2Cr	-633.6Cr	-534.4Cr	-1.13TCr	148.4Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.48	1.36	3.75	3.67	4.61
Return on Total Capital	3.2	1.75	4.83	4.8	6.15
Return On Equity %	8.46	6.35	18.24	22.33	13.21
Return on Common Equity	8.36	6.28	18.31	22.22	12.78
Margin Analysis
Gross Profit Margin %	16	12.34	18.44	16.13	17.99
SG&A Margin	7.74	7.58	7.07	6.37	6.09
EBITDA Margin %	12.1	8.85	15.69	13.76	15.51
EBITA Margin %	8.51	5.07	12.21	10.83	12.75
EBIT Margin %	8.37	4.89	12.03	9.8	11.81
Income From Continuing Operations Margin %	4.78	3.9	11.2	13.03	7.82
Net Income Margin %	4.72	3.81	11.13	12.58	7.26
Net Avail. For Common Margin %	4.67	3.81	11.13	12.58	7.26
Normalized Net Income Margin	4.74	3.24	8.67	6.47	6.34
Levered Free Cash Flow Margin	29.02	7.02	6.41	9.01	5.24
Unlevered Free Cash Flow Margin	29.29	7.28	6.49	9.01	5.5
Asset Turnover
Asset Turnover