Fleury SA
Ratios
BRL
31.12.201331.12.201431.12.201531.12.201631.12.201731.12.2018
Profitability
ROA2%3%3%8%9%9%
ROC (Oper. Income/Debt+Equity)6%7%9%14%17%17%
ROTC (NI+Interest/Total Capital)10%12%14%20%20%19%
ROE (Return on Equity)4%6%7%15%19%19%
Margin Analysis
Gross Margin23%24%27%29%31%30%
SG&A Margin11%12%12%12%11%11%
EBITDA Margin17%18%19%23%26%26%
EBIT (Oper. Income) Margin10%12%12%16%20%19%
Income before XO Margin4%5%6%11%14%12%
Net Income Margin4%5%6%11%14%12%
Free Cash Flow Margin4%10%14%16%10%14%
Turnover
Total Asset Turnover0.5x0.5x0.6x0.7x0.7x0.7x
Fixed Asset Turnover3.7x3.7x4.3x4.5x3.7x3.4x
Accounts Receivable Turnover4x4x5x5x5x5x
Inventory Turnover (COGS)76x94x85x47x76x70x
Accounts Payable Turnover (COGS)12x24x13x10x11x10x
Short Term Liquidity
Current Ratio4.1x3.8x2.7x2.3x2.0x2.3x
Quick Ratio3.6x3.4x2.5x2.0x1.9x2.1x
Cash from Ops. To Curr Liab0.8x1.1x0.9x1.3x0.8x1.1x
Avg. Days Receivable Out.88d85d77d70d79d69d
Avg. Days Inventory Out.5d4d4d8d5d5d
Avg. Days Payable Out.30d15d27d35d33d38d
Avg. Cash Conversion Cycle63d74d53d43d50d36d
Long Term Solvency
Total Debt/Equity58%66%60%54%62%72%
Total Debt/Capital37%40%37%35%38%42%
LT Debt/Equity54%61%48%45%43%60%
LT Debt/Capital26%28%25%24%23%27%
Total Liabilities/Total Assets47%51%48%49%52%55%
Interest Coverage (EBIT/I)2x2x2x3x6x6x
EBITDA / Interest Exp.3x3x3x4x8x9x
(EBITDA-CAPEX) / Interest Exp.1x2x2x2x4x5x
Total Debt/EBITDA3.5x3.4x2.8x1.7x1.7x1.8x
Net Debt/EBITDA1.6x1.7x1.3x1.1x1.2x1.7x
Capex & Depreciation
Depreciation Expenses109114122145143189
Capital Expenditures(148)(118)(112)(184)(296)(326)
growth, % yoy(9%)(20%)(5%)65%61%10%
Asset Reinvestment Ratio1.4x1.0x0.9x1.3x2.1x1.7x
CAPEX/Sales9%7%6%9%12%12%
CAPEX/Total Assets5%4%4%6%8%8%