Page: Company Financials
Havas S.A.
$17.70
+0.80 (4.73%)
As of: 2026-01-23
Master Data Export
Enterprise Value
| Metric | 2024 | 2023 |
|---|---|---|
| Stock Price | 17.20 | 18.20 |
| Market Capitalization | 17,000.07M | 23,198.63M |
| (-) Cash & Equivalents | 206.00M | 130.50M |
| (+) Total Debt | 381.50M | 187.00M |
| Enterprise Value | 17,175.57M | 23,255.13M |
Income Statement
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 5,825M | 0.00M | 2,863M | 2,872M | 2,765M | 2,341M |
| Cost of Revenue | 4,037M | 0.00M | 127M | 177M | 175M | 103M |
| Gross Profit | 1,788M | 0.00M | 2,736M | 2,695M | 2,590M | 2,238M |
| Gross Profit Margin | 30.7% | 0.0% | 95.6% | 93.8% | 93.7% | 95.6% |
| R&D Expenses | 0M | 0.00M | 0M | 0M | 0M | 0M |
| SG&A Expenses | 14M | 0.00M | 0M | 0M | 0M | 0M |
| Operating Expenses | 1,147M | 0.00M | 2,421M | 2,385M | 2,304M | 1,999M |
| Operating Income (EBIT) | 641M | 0.00M | 315M | 310M | 286M | 239M |
| Operating Income Margin | 11.0% | 0.0% | 11.0% | 10.8% | 10.3% | 10.2% |
| Interest Income | 0M | 0.00M | 2M | 8M | 0M | 0M |
| Interest Expense | 37M | 0.00M | 13M | 14M | 14M | 15M |
| Net Interest Income | -37M | 0.00M | -11M | -6M | -14M | -15M |
| Unusual Items | -40M | 0.00M | -26M | -25M | 1M | -30M |
| EBT Excluding Unusual Items | 604M | 0.00M | 304M | 304M | 272M | 224M |
| Pre-Tax Income | 564M | 0.00M | 278M | 279M | 273M | 194M |
| Pre-Tax Margin | 9.7% | 0.0% | 9.7% | 9.7% | 9.9% | 8.3% |
| Income Tax Expense | 180M | 0.00M | 89M | 95M | 80M | 58M |
| Net Income | 348M | 0.00M | 173M | 167M | 171M | 113M |
| Net Income Margin | 6.0% | 0.0% | 6.0% | 5.8% | 6.2% | 4.8% |
| Depreciation & Amortization | 125M | 0.00M | 124M | 56M | 138M | 125M |
| EBITDA | 766M | 0.00M | 439M | 366M | 424M | 364M |
| EBITDA Margin | 13.2% | 0.0% | 15.3% | 12.7% | 15.3% | 15.5% |
| NOPAT | 436M | 0.00M | 214M | 204M | 202M | 168M |
| NOPAT Margin | 7.5% | 0.0% | 7.5% | 7.1% | 7.3% | 7.2% |
| Owner's Earnings | 414M | 0.00M | 263M | 188M | 272M | 212M |
| Owner's Earnings Margin | 7.1% | 0.0% | 9.2% | 6.5% | 9.8% | 9.1% |
| EPS (Basic) | 3.71 | 0.00 | 1.70 | 1.70 | 1.70 | 1.10 |
| EPS (Diluted) | 3.05 | 0.00 | 1.73 | 1.68 | 1.72 | 1.14 |
| Shares (Basic) | 117M | 0.00M | 99M | 99M | 99M | 99M |
| Shares (Diluted) | 114M | 0.00M | 100M | 99M | 99M | 99M |
Balance Sheet
| Metric | MRQ | MRQ-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 321.00M | 234.00M | 234.00M | 261.00M | 222.00M | 663.00M | 269.00M |
| Short-Term Investments | 41.00M | 7.00M | 7.00M | 66.00M | 131.00M | 115.00M | 73.00M |
| Cash & Short-Term Investments | 362.00M | 241.00M | 241.00M | 327.00M | 353.00M | 778.00M | 342.00M |
| Net Receivables | 2,971.00M | 2,968.00M | 2,968.00M | 3,161.00M | 3,111.00M | 2,843.00M | 2,461.00M |
| Inventory | 134.00M | 115.00M | 115.00M | 91.00M | 114.00M | 108.00M | 158.00M |
| Other Current Assets | 64.00M | 70.00M | 70.00M | 81.00M | 59.00M | 52.00M | 64.00M |
| Total Current Assets | 3,531.00M | 3,394.00M | 3,394.00M | 3,660.00M | 3,637.00M | 3,781.00M | 3,025.00M |
| Property, Plant & Equipment | 426.00M | 443.00M | 443.00M | 504.00M | 574.00M | 635.00M | 670.00M |
| Goodwill | 2,486.00M | 2,535.00M | 2,535.00M | 2,428.00M | 2,274.00M | 2,135.00M | 2,027.00M |
| Intangible Assets | 48.00M | 49.00M | 49.00M | 51.00M | 50.00M | 50.00M | 52.00M |
| Long-Term Investments | 47.00M | 43.00M | 43.00M | 0.00M | 0.00M | 11.00M | 0.00M |
| Tax Assets | 72.00M | 96.00M | 96.00M | 95.00M | 98.00M | 95.00M | 102.00M |
| Other Non-Current Assets | 28.00M | 19.00M | 19.00M | 69.00M | 39.00M | 14.00M | 32.00M |
| Other Assets | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total Non-Current Assets | 3,107.00M | 3,185.00M | 3,185.00M | 3,147.00M | 3,035.00M | 2,940.00M | 2,883.00M |
| Total Assets | 6,638.00M | 6,579.00M | 6,579.00M | 6,807.00M | 6,672.00M | 6,721.00M | 5,908.00M |
| Accounts Payable | 2,330.00M | 2,692.00M | 2,692.00M | 2,844.00M | 2,867.00M | 2,637.00M | 2,388.00M |
| Short-Term Debt | 428.00M | 19.00M | 19.00M | 4.00M | 5.00M | 396.00M | 122.00M |
| Tax Payables | 23.00M | 180.00M | 180.00M | 66.00M | 58.00M | 57.00M | 51.00M |
| Deferred Revenue | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Current Liabilities | 135.00M | 918.00M | 918.00M | 1,056.00M | 1,030.00M | 1,005.00M | 819.00M |
| Total Current Liabilities | 2,916.00M | 3,809.00M | 3,809.00M | 3,970.00M | 3,960.00M | 4,095.00M | 3,380.00M |
| Long-Term Debt | 2.00M | 4.00M | 4.00M | 3.00M | 3.00M | 4.00M | 5.00M |
| Capital Lease Obligations | 295.00M | 300.00M | 300.00M | 367.00M | 426.00M | 455.00M | 475.00M |
| Deferred Tax Liabilities | 60.00M | 69.00M | 69.00M | 66.00M | 55.00M | 57.00M | 79.00M |
| Other Non-Current Liabilities | 338.00M | 354.00M | 354.00M | 335.00M | 280.00M | 266.00M | 273.00M |
| Total Non-Current Liabilities | 695.00M | 727.00M | 727.00M | 771.00M | 764.00M | 782.00M | 832.00M |
| Total Liabilities | 3,611.00M | 4,536.00M | 4,536.00M | 4,741.00M | 4,724.00M | 4,877.00M | 4,212.00M |
| Preferred Stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock | 198.00M | 198.00M | 198.00M | 170.00M | 170.00M | 170.00M | 170.00M |
| Retained Earnings | -1,503.00M | -1,484.00M | 0.00M | 0.00M | 0.00M | 236.00M | 0.00M |
| Accumulated OCI | -133.00M | -79.00M | 0.00M | 0.00M | 0.00M | -107.00M | 0.00M |
| Minority Interest | 30.00M | 26.00M | 26.00M | 28.00M | 25.00M | 38.00M | 29.00M |
| Total Shareholders’ Equity | -1,438.00M | -1,365.00M | 198.00M | 170.00M | 170.00M | 299.00M | 170.00M |
| Total Equity | -1,408.00M | -1,339.00M | 224.00M | 198.00M | 195.00M | 337.00M | 199.00M |
| Total Liabilities & Equity | 2,203.00M | 3,197.00M | 4,760.00M | 4,939.00M | 4,919.00M | 5,214.00M | 4,411.00M |
| Tangible Assets | 4,104.00M | 3,995.00M | 3,995.00M | 4,328.00M | 4,348.00M | 4,536.00M | 3,829.00M |
| Tangible Equity | -3,942.00M | -3,923.00M | -2,360.00M | -2,281.00M | -2,129.00M | -1,848.00M | -1,880.00M |
| Tangible Book Value | -3,942.00M | -3,923.00M | -2,360.00M | -2,281.00M | -2,129.00M | -1,848.00M | -1,880.00M |
| Total Investments | 88.00M | 50.00M | 50.00M | 66.00M | 131.00M | 126.00M | 73.00M |
| Net Debt | 109.00M | -211.00M | -211.00M | -254.00M | -214.00M | -263.00M | -142.00M |
Capital Metrics
| Metric | MRQ | MRQ-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|
| Working Capital | -729.0M | -628.0M | -628.0M | -498.0M | -462.0M | -494.0M | -533.0M |
| Total Capital | 2,450.0M | 2,204.0M | 2,204.0M | 2,305.0M | 2,297.0M | 2,555.0M | 2,161.0M |
| Capital Employed | 2,378.0M | 2,557.0M | 2,557.0M | 2,649.0M | 2,573.0M | 2,446.0M | 2,350.0M |
| Invested Capital | 2,129.0M | 1,970.0M | 1,970.0M | 2,044.0M | 2,075.0M | 1,892.0M | 1,892.0M |
Cash Flow Statement
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|---|
| Net Income | 348.00M | 0.00M | 189.00M | 184.00M | 193.00M | 136.00M |
| Depreciation & Amortization | 269.00M | 0.00M | 104.00M | 122.00M | 138.00M | 125.00M |
| Deferred Income Tax | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Stock-Based Compensation | 16.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in Working Capital | 36.00M | 0.00M | -71.00M | 11.00M | 40.00M | 39.00M |
| Accounts Receivable | 46.00M | 0.00M | 103.00M | -21.00M | -88.00M | -308.00M |
| Inventory | -39.00M | 0.00M | -22.00M | 20.00M | -6.00M | 56.00M |
| Accounts Payable | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Working Capital | 29.00M | 0.00M | -152.00M | 12.00M | 134.00M | 291.00M |
| Other Non-Cash Items | -104.00M | 0.00M | 20.00M | 24.00M | -1.00M | 32.00M |
| Net Cash from Operating Activities | 565.00M | 0.00M | 242.00M | 341.00M | 370.00M | 332.00M |
| Capital Expenditures (PPE) | -59.00M | 0.00M | -34.00M | -35.00M | -37.00M | -26.00M |
| Acquisitions (Net) | -85.00M | 0.00M | -27.00M | -96.00M | -36.00M | -10.00M |
| Purchases of Investments | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Sales / Maturities of Investments | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Investing Activities | 44.00M | 0.00M | 143.00M | 37.00M | -111.00M | 20.00M |
| Net Cash from Investing Activities | -100.00M | 0.00M | 82.00M | -94.00M | -184.00M | -16.00M |
| Net Debt Issuance | 0.00M | 0.00M | -2.00M | -2.00M | -398.00M | 272.00M |
| Long-Term Debt Issuance | 0.00M | 0.00M | -2.00M | -2.00M | -8.00M | -3.00M |
| Short-Term Debt Issuance | 0.00M | 0.00M | 0.00M | 0.00M | -390.00M | 275.00M |
| Net Stock Issuance | -4.00M | 0.00M | 0.00M | 1.00M | 0.00M | 1.00M |
| Common Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Repurchased | -4.00M | 0.00M | 0.00M | -18.00M | -33.00M | -18.00M |
| Preferred Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Dividends Paid | -314.00M | 0.00M | -235.00M | -85.00M | -77.00M | -33.00M |
| Common Dividends Paid | -314.00M | 0.00M | -235.00M | -85.00M | -77.00M | -33.00M |
| Preferred Dividends Paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Financing Activities | -69.00M | 0.00M | -210.00M | -156.00M | -163.00M | -164.00M |
| Net Cash from Financing Activities | -387.00M | 0.00M | -447.00M | -242.00M | -638.00M | 76.00M |
| Effect of FX on Cash | -54.00M | 0.00M | 23.00M | -28.00M | 22.00M | 44.00M |
| Net Change in Cash | -234.00M | 0.00M | -100.00M | -23.00M | -430.00M | 436.00M |
| Cash at Beginning of Period | 0.00M | 0.00M | 322.00M | 345.00M | 775.00M | 339.00M |
| Cash at End of Period | 0.00M | 0.00M | 222.00M | 322.00M | 345.00M | 775.00M |
| Operating Cash Flow | 565.00M | 0.00M | 242.00M | 341.00M | 370.00M | 332.00M |
| Capital Expenditure | -59.00M | 0.00M | -34.00M | -35.00M | -37.00M | -26.00M |
| Free Cash Flow | 506.00M | 0.00M | 208.00M | 306.00M | 333.00M | 306.00M |
Free Cash Flow
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|---|
| EBITDA | 1,899.00M | 0.00M | 2,860.00M | 2,751.00M | 2,728.00M | 2,363.00M |
| (-) Tax Adjustment | 606.06M | 0.00M | 915.61M | 936.72M | 799.41M | 706.46M |
| (-) Change In Working Capital | 36.00M | 0.00M | -71.00M | 11.00M | 40.00M | 39.00M |
| (-) Capital Expenditure | -59.00M | 0.00M | -34.00M | -35.00M | -37.00M | -26.00M |
| Unlevered Free Cash Flow | 1,197.94M | 0.00M | 1,981.39M | 1,768.28M | 1,851.59M | 1,591.54M |
| (-) Net Interest Income After Taxes | -25.19M | 0.00M | -7.48M | -3.96M | -9.90M | -10.52M |
| Net Debt Issuance | 0.00M | 0.00M | -2.00M | -2.00M | -398.00M | 272.00M |
| Levered Free Cash Flow | 1,223.13M | 0.00M | 1,986.87M | 1,770.24M | 1,463.48M | 1,874.05M |