Cash flow Partners Group Holding AG

Equities

PGHN

CH0024608827

Investment Management & Fund Operators

Market Closed - Swiss Exchange Other stock markets 09:00:15 06/09/2024 pm IST			5-day change	1st Jan Change
1,091.50 ^CHF	-0.77%		-10.61%	-10.02%

05/09	Such a long wait
04/09	Swiss Equities Remain in the Red Amid Regional Retreat	MT

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Published financial data: PARTNERS GROUP HOLDING AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.55B	1.38B	2.59B	1.81B	1.86B
Interest And Invest. Income (Rev)	60.4M	25.3M	27.5M	51.3M	85M
Other Revenues, Total	-	-	-	-	-100K
Total Revenues	1.61B	1.41B	2.62B	1.87B	1.94B
Cost of Goods Sold, Total	490M	430M	861M	596M	603M
Gross Profit	1.12B	977M	1.76B	1.27B	1.34B
Selling General & Admin Expenses, Total	-	-	-	-	-
Stock-Based Compensation (IS)	800K	600K	800K	800K	900K
Depreciation & Amortization - (IS)	33.8M	38.4M	39.7M	40.5M	41.1M
Other Operating Expenses	74.7M	53M	59.9M	96.4M	104M
Other Operating Expenses, Total	109M	92M	100M	138M	146M
Operating Income	1.01B	885M	1.66B	1.13B	1.19B
Interest Expense, Total	-4.9M	-8.2M	-8.9M	-7.1M	-12.9M
Interest And Investment Income	3.5M	2.8M	2.8M	4M	5M
Net Interest Expenses	-1.4M	-5.4M	-6.1M	-3.1M	-7.9M
Income (Loss) On Equity Invest.	2.8M	700K	2.7M	300K	-900K
Currency Exchange Gains (Loss)	-26.5M	10.3M	-33.4M	-8.7M	-38M
Other Non Operating Income (Expenses)	54.7M	47.6M	113M	9.2M	62.8M
EBT, Excl. Unusual Items	1.04B	939M	1.73B	1.13B	1.21B
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Other Unusual Items	-	-10M	-6M	-	-
EBT, Incl. Unusual Items	1.04B	929M	1.73B	1.13B	1.21B
Income Tax Expense	137M	124M	263M	124M	205M
Earnings From Continuing Operations	900M	805M	1.46B	1B	1B
Net Income to Company	900M	805M	1.46B	1B	1B
Net Income - (IS)	900M	805M	1.46B	1B	1B
Net Income to Common Incl Extra Items	900M	805M	1.46B	1B	1B
Net Income to Common Excl. Extra Items	900M	805M	1.46B	1B	1B
Per Share Items
Net EPS - Basic	33.93	30.63	56.19	39.34	38.7
Basic EPS - Continuing Operations	33.93	30.63	56.19	39.34	38.7
Basic Weighted Average Shares Outstanding	26.52M	26.27M	26.05M	25.54M	25.93M
Net EPS - Diluted	33.66	30.36	55.12	39.09	38.55
Diluted EPS - Continuing Operations	33.66	30.36	55.12	39.09	38.55
Diluted Weighted Average Shares Outstanding	26.74M	26.51M	26.55M	25.71M	26.03M
Normalized Basic EPS	24.44	22.33	41.56	27.63	29.13
Normalized Diluted EPS	24.24	22.13	40.77	27.46	29.02
Dividend Per Share	25.5	27.5	33	37	39
Payout Ratio	65.05	83.06	49.51	85.68	95.59
Supplemental Items
EBITDA	1.02B	895M	1.67B	1.14B	1.2B
EBITA	1.01B	886M	1.66B	1.13B	1.19B
EBIT	1.01B	885M	1.66B	1.13B	1.19B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	13.24	13.33	15.21	11.02	16.98
Total Current Taxes	144M	135M	285M	175M	185M
Total Deferred Taxes	-6.3M	-10.8M	-22.5M	-50.1M	20.4M
Normalized Net Income	648M	587M	1.08B	706M	755M
Interest on Long-Term Debt	8.5M	12.3M	13.3M	1.6M	3.9M
Non-Cash Pension Expense	100K	-900K	100K	100K	2.1M
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	53.7M	56.7M	54.7M	57.1M	57.1M
Stock-Based Comp., Other (Total)	800K	600K	800K	800K	900K
Total Stock-Based Compensation	54.5M	57.3M	55.5M	57.9M	58M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	933M	1.23B	911M	780M	281M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	933M	1.23B	911M	780M	281M
Accounts Receivable, Total	634M	447M	618M	602M	752M
Other Receivables	7.7M	18.7M	24.9M	39.1M	66.8M
Notes Receivable	900M	674M	1.49B	1.32B	1.62B
Total Receivables	1.54B	1.14B	2.13B	1.97B	2.44B
Prepaid Expenses	-	-	-	-	-
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	186M	309M	87.2M	110M	350M
Total Current Assets	2.66B	2.68B	3.13B	2.86B	3.07B
Gross Property Plant And Equipment	285M	298M	336M	422M	547M
Accumulated Depreciation	-47.6M	-61.7M	-79.5M	-98.9M	-110M
Net Property Plant And Equipment	237M	236M	256M	324M	437M
Long-term Investments	650M	644M	740M	788M	836M
Goodwill	32.4M	30.8M	30.7M	30.3M	28M
Other Intangibles, Total	8.7M	9.5M	5.6M	6.4M	5.1M
Accounts Receivable Long-Term	231M	274M	450M	420M	283M
Loans Receivable Long-Term	58.6M	76.4M	75.2M	4.4M	2.1M
Deferred Tax Assets Long-Term	43.8M	64M	104M	110M	105M
Deferred Charges Long-Term	27.7M	22M	29.6M	37.9M	28M
Other Long-Term Assets, Total	-	-	10.5M	-	12M
Total Assets	3.95B	4.03B	4.83B	4.58B	4.8B
Liabilities
Accounts Payable, Total	68.2M	81.3M	139M	97.5M	88.2M
Accrued Expenses, Total	162M	107M	288M	200M	185M
Short-term Borrowings	-	-	-	270M	240M
Current Portion of Long-Term Debt	-	-	-	-	300M
Current Portion of Leases	12.4M	10.3M	10.9M	14.9M	14.3M
Current Income Taxes Payable	83.4M	46.2M	90.9M	115M	73.6M
Other Current Liabilities	216M	394M	200M	189M	191M
Total Current Liabilities	542M	639M	728M	886M	1.09B
Long-Term Debt	799M	799M	799M	799M	830M
Long-Term Leases	55.2M	56.6M	49.9M	62.6M	90.7M
Pension & Other Post Retirement Benefits	209M	214M	296M	335M	293M
Deferred Tax Liability Non Current	4M	3.4M	3.4M	6.7M	6.7M
Other Non Current Liabilities	53.2M	45.8M	57.6M	70.4M	65.2M
Total Liabilities	1.66B	1.76B	1.93B	2.16B	2.38B
Common Stock, Total	300K	300K	300K	300K	300K
Retained Earnings	2.63B	2.76B	3.5B	3.54B	3.62B
Treasury Stock	-213M	-266M	-378M	-848M	-767M
Comprehensive Income and Other	-129M	-224M	-226M	-275M	-424M
Total Common Equity	2.29B	2.27B	2.9B	2.42B	2.43B
Total Equity	2.29B	2.27B	2.9B	2.42B	2.43B
Total Liabilities And Equity	3.95B	4.03B	4.83B	4.58B	4.8B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	26.42M	26.35M	26.37M	25.91M	25.98M
ECS Total Common Shares Outstanding	26.42M	26.35M	26.37M	25.91M	25.98M
Book Value / Share	86.6	86.31	109.92	93.26	93.41
Tangible Book Value	2.25B	2.23B	2.86B	2.38B	2.39B
Tangible Book Value Per Share	85.04	84.79	108.54	91.84	92.14
Total Debt	866M	866M	860M	1.15B	1.48B
Net Debt	-66.8M	-362M	-50.8M	367M	1.19B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.4M	2.4M	-10.5M	-16.1M	-11.2M
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	42.1M	25M	18.3M	13.4M	9.9M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	63.7M	63.1M	63.1M	63.2M	62.6M
Buildings, Total	65M	87.3M	92.4M	93.9M	87.1M
Machinery, Total	49M	53M	54.5M	60.4M	67.5M
Full Time Employees	1.46K	1.53K	1.57K	1.84K	1.93K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	900M	805M	1.46B	1B	1B
Depreciation & Amortization - CF	19.8M	22.4M	21.6M	21.5M	24.4M
Amortization of Goodwill and Intangible Assets - (CF)	800K	900K	800K	600K	600K
Depreciation & Amortization, Total	20.6M	23.3M	22.4M	22.1M	25M
Amortization of Deferred Charges, Total - (CF)	13.2M	15.1M	17.3M	18.4M	16.1M
(Gain) Loss on Sale of Investments - (CF)	-58.2M	-51.7M	-117M	-13.6M	-67.4M
(Income) Loss On Equity Investments - (CF)	-2.8M	-700K	-2.7M	-300K	1M
Stock-Based Compensation (CF)	54.5M	57.3M	55.5M	57.9M	58M
Other Operating Activities, Total	72.5M	-118M	184M	-66.6M	125M
Change In Accounts Receivable	-87.3M	366M	-1B	120M	-597M
Change In Accounts Payable	48.4M	58.4M	81.3M	-83.2M	79.4M
Cash from Operations	961M	1.15B	702M	1.06B	643M
Capital Expenditure	-114M	-18.9M	-34.3M	-60.5M	-102M
Sale of Property, Plant, and Equipment	-	-	200K	-	-
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-21.9M	-12M	-21.9M	-28.2M	-6.7M
Investment in Marketable and Equity Securities, Total	-45.4M	20.4M	31.4M	14.6M	-347M
Other Investing Activities, Total	3.5M	2.8M	2.8M	4M	5M
Cash from Investing	-178M	-7.7M	-21.8M	-70.1M	-451M
Short Term Debt Issued, Total	1.02B	375M	375M	1.22B	1.5B
Long-Term Debt Issued, Total	499M	-	-	-	330M
Total Debt Issued	1.51B	375M	375M	1.22B	1.83B
Short Term Debt Repaid, Total	-1.02B	-375M	-375M	-950M	-1.53B
Long-Term Debt Repaid, Total	-12.1M	-12.1M	-11.7M	-12.9M	-15.8M
Total Debt Repaid	-1.03B	-387M	-387M	-963M	-1.55B
Issuance of Common Stock	300M	74.3M	153M	25.2M	78.5M
Repurchase of Common Stock	-457M	-221M	-386M	-569M	-67M
Common Dividends Paid	-585M	-668M	-725M	-861M	-959M
Common & Preferred Stock Dividends Paid	-585M	-668M	-725M	-861M	-959M
Other Financing Activities, Total	-3.6M	-8.4M	-8.7M	-5.6M	-13.6M
Cash from Financing	-260M	-836M	-978M	-1.15B	-677M
Foreign Exchange Rate Adjustments	-2.7M	-16.2M	-18.9M	33.5M	-14.1M
Net Change in Cash	521M	295M	-317M	-131M	-498M
Supplemental Items
Cash Interest Paid	3.6M	8.4M	8.7M	5.6M	9M
Cash Income Tax Paid (Refund)	107M	150M	206M	184M	216M
Levered Free Cash Flow	497M	992M	386M	740M	-46.89M
Unlevered Free Cash Flow	501M	997M	392M	744M	-38.82M
Change In Net Working Capital	81.9M	-379M	683M	-27.3M	775M
Net Debt Issued / Repaid	487M	-12.1M	-11.7M	257M	285M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	18.26	13.87	23.36	15.03	15.89
Return on Total Capital	23.23	17.58	30.01	19.32	19.97
Return On Equity %	42.29	35.28	56.58	37.82	41.44
Return on Common Equity	42.29	35.28	56.58	37.82	41.44
Margin Analysis
Gross Profit Margin %	69.49	69.45	67.12	68.06	68.93
SG&A Margin	-	-	-	-	-
EBITDA Margin %	63.16	63.6	63.67	61.15	61.88
EBITA Margin %	62.74	62.97	63.31	60.71	61.46
EBIT Margin %	62.69	62.91	63.28	60.67	61.43
Income From Continuing Operations Margin %	55.99	57.18	55.92	53.88	51.68
Net Income Margin %	55.99	57.18	55.92	53.88	51.68
Net Avail. For Common Margin %	55.99	57.18	55.92	53.88	51.68
Normalized Net Income Margin	40.33	41.68	41.36	37.84	38.91
Levered Free Cash Flow Margin	30.95	70.47	14.75	39.67	-2.42
Unlevered Free Cash Flow Margin	31.14	70.84	14.96	39.91	-2
Asset Turnover
Asset Turnover	0.47	0.35	0.59	0.4	0.41
Fixed Assets Turnover	10.55	5.95	10.63	6.43	5.11
Receivables Turnover (Average Receivables)	3.11	2.56	4.87	2.97	2.74
Short Term Liquidity
Current Ratio	4.91	4.19	4.3	3.22	2.81
Quick Ratio	2.9	2.65	2.13	1.6	1.01
Operating Cash Flow to Current Liabilities	1.77	1.81	0.96	1.2	0.59
Days Sales Outstanding (Average Receivables)	117.28	143.07	75.02	122.76	133.13
Average Days Payable Outstanding	53.37	63.62	46.63	72.32	56.17
Long Term Solvency
Total Debt/Equity	37.86	38.06