Cash flow Laboratorio Farmaceutico Erfo S.p.A.

Stocks

ERFO

IT0005497885

Pharmaceuticals

Market Closed - Borsa Italiana 23:45:00 07/09/2026 HKT			5-day change	1st Jan Change
1.120 ^EUR	+0.90%		-2.61%	-23.81%

08-31	Milan in the pink at the open, oil stocks lead the MIB	AN
08-31	Futures weak; Brent higher after US-Iran attacks	AN

f0df7be0c6204881ead65d.NT4aw9uKle7UedNzd-jbF96u8rzJIGZbTAPR2YcIsQs.UHB_gYTh07yyNaUnIprtXejqocinbAhtFUWUtMA840lEfEO6sr2l2uIo5w

Published financial data: LABORATORIO FARMACEUTICO ERFO S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Revenues	4.67M	4.62M	5.74M	5.83M	9.49M
Other Revenues, Total	315K	95.07K	195K	204K	237K
Total Revenues	4.99M	4.72M	5.93M	6.03M	9.73M
Cost of Goods Sold, Total	2.23M	2.27M	3.33M	3.49M	6.04M
Gross Profit	2.75M	2.45M	2.6M	2.54M	3.7M
Selling General & Admin Expenses, Total	813K	1.04M	1.24M	1.49M	1.82M
Provision for Bad Debts	15.13K	13.29K	28.1K	8.1K	41.33K
Depreciation & Amortization - (IS)	281K	324K	351K	311K	252K
Amortization of Goodwill and Intangible Assets - (IS)	158K	296K	368K	377K	661K
Other Operating Expenses	-82.77K	-207K	-222K	-170K	-148K
Other Operating Expenses, Total	1.18M	1.46M	1.76M	2.01M	2.63M
Operating Income	1.57M	987K	837K	524K	1.07M
Interest Expense, Total	-16.98K	-38.65K	-29.76K	-27.89K	-61.22K
Net Interest Expenses	-16.98K	-38.65K	-29.76K	-27.89K	-61.22K
Currency Exchange Gains (Loss)	-	-	904	-689	-187
Other Non Operating Income (Expenses)	4.76K	120	7.27K	30.98K	37.44K
EBT, Excl. Unusual Items	1.56M	949K	815K	526K	1.04M
Gain (Loss) On Sale Of Investments	-12K	-	-	-	-
EBT, Incl. Unusual Items	1.54M	949K	815K	526K	1.04M
Income Tax Expense	387K	232K	225K	173K	305K
Earnings From Continuing Operations	1.16M	716K	590K	353K	737K
Net Income to Company	1.16M	716K	590K	353K	737K
Net Income - (IS)	1.16M	716K	590K	353K	737K
Net Income to Common Incl Extra Items	1.16M	716K	590K	353K	737K
Net Income to Common Excl. Extra Items	1.16M	716K	590K	353K	737K
Per Share Items
Net EPS - Basic	0.77	0.08	0.07	0.04	0.09
Basic EPS - Continuing Operations	0.77	0.08	0.07	0.04	0.09
Basic Weighted Average Shares Outstanding	1.5M	9M	8.6M	8.58M	8.52M
Net EPS - Diluted	0.77	0.08	0.07	0.04	0.09
Diluted EPS - Continuing Operations	0.77	0.08	0.07	0.04	0.09
Diluted Weighted Average Shares Outstanding	1.5M	9M	8.6M	8.58M	8.52M
Normalized Basic EPS	0.65	0.07	0.06	0.04	0.08
Normalized Diluted EPS	0.65	0.07	0.06	0.04	0.08
Dividend Per Share	-	-	0.06	-	-
Payout Ratio	185.74	76.78	28.11	157.01	-
Supplemental Items
EBITDA	2.01M	1.47M	1.42M	1.07M	1.83M
EBITA	1.73M	1.15M	1.07M	754K	1.58M
EBIT	1.57M	987K	837K	524K	1.07M
EBITDAR	2.13M	1.62M	1.63M	1.29M	2.14M
Total Revenues (As Reported)	5.1M	5.03M	6.26M	6.34M	10.03M
Effective Tax Rate - (Ratio)	25.07	24.51	27.58	32.96	29.3
Total Current Taxes	387K	247K	223K	186K	310K
Total Deferred Taxes	-	-14.29K	1.6K	-12.59K	-4.51K
Normalized Net Income	973K	593K	509K	329K	652K
Interest on Long-Term Debt	-	-	-	27.89K	61.22K
Supplemental Operating Expense Items
Marketing Expenses	-	100K	-	-	-
Research And Development Expense From Footnotes	-	4K	4K	16.8K	17.6K
Net Rental Expense, Total	119K	145K	203K	227K	307K
Imputed Operating Lease Interest Expense	21.41K	67.72K	92.17K	120K	174K
Imputed Operating Lease Depreciation	97.76K	77.18K	110K	107K	133K

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Cash And Equivalents	347K	1.47M	843K	376K	1.05M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	347K	1.47M	843K	376K	1.05M
Accounts Receivable, Total	361K	405K	589K	511K	1.12M
Other Receivables	412K	1.1M	600K	347K	570K
Total Receivables	773K	1.5M	1.19M	858K	1.69M
Inventory	647K	941K	996K	1.01M	1.46M
Deferred Tax Assets Current	16.81K	37.75K	36.15K	48.74K	17.1K
Other Current Assets, Total	-	-	-1	-	-
Total Current Assets	1.78M	3.95M	3.06M	2.29M	4.22M
Gross Property Plant And Equipment	3.07M	3.46M	3.77M	3.84M	3.91M
Accumulated Depreciation	-1.01M	-1.27M	-1.62M	-1.93M	-2.19M
Net Property Plant And Equipment	2.07M	2.19M	2.15M	1.91M	1.72M
Long-term Investments	699K	264K	907K	1.2M	45.4K
Goodwill	4.28K	3.97K	3.66K	3.36K	2.29M
Other Intangibles, Total	2.37M	2.28M	3.18M	3.33M	3.03M
Deferred Charges Long-Term	631	529K	396K	315K	172K
Other Long-Term Assets, Total	179K	1.32M	449K	651K	578K
Total Assets	7.1M	10.53M	10.15M	9.7M	12.05M
Liabilities
Accounts Payable, Total	313K	658K	590K	622K	750K
Accrued Expenses, Total	47.12K	56.61K	71.94K	82.11K	89.96K
Current Portion of Long-Term Debt	167K	135K	135K	140K	377K
Current Income Taxes Payable	126K	54.31K	72.69K	51.07K	182K
Other Current Liabilities	796K	485K	247K	304K	709K
Total Current Liabilities	1.45M	1.39M	1.12M	1.2M	2.11M
Long-Term Debt	575K	447K	330K	242K	972K
Unearned Revenue Non Current	191K	668K	588K	410K	252K
Pension & Other Post Retirement Benefits	156K	198K	227K	285K	302K
Other Non Current Liabilities	-	1	2.45K	822	32.52K
Total Liabilities	2.37M	2.7M	2.26M	2.14M	3.67M
Common Stock, Total	1.5M	1.75M	1.75M	1.75M	1.75M
Additional Paid In Capital	-	2.75M	2.75M	2.75M	2.75M
Retained Earnings	1.26M	1.43M	1.98M	1.8M	2.11M
Treasury Stock	-	-	-441K	-562K	-542K
Comprehensive Income and Other	1.96M	1.9M	1.82M	1.82M	1.89M
Total Common Equity	4.73M	7.83M	7.86M	7.55M	7.96M
Minority Interest	-	-	21.09K	6.93K	421K
Total Equity	4.73M	7.83M	7.88M	7.56M	8.38M
Total Liabilities And Equity	7.1M	10.53M	10.15M	9.7M	12.05M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.5M	9M	8.6M	8.58M	8.52M
ECS Total Common Shares Outstanding	1.5M	9M	8.6M	8.58M	8.52M
Book Value / Share	3.15	0.87	0.91	0.88	0.93
Tangible Book Value	2.36M	5.55M	4.68M	4.22M	2.65M
Tangible Book Value Per Share	1.57	0.62	0.54	0.49	0.31
Total Debt	742K	581K	465K	382K	1.35M
Net Debt	395K	-890K	-378K	5.77K	295K
Debt Equivalent Oper. Leases	953K	1.16M	1.62M	1.82M	2.46M
Minority Interest, Total (Incl. Fin. Div)	-	-	21.09K	6.93K	421K
Equity Method Investments, Total	-	-	-	-	4.9K
Account Code - Inventory Valuation	8	8	8	3	6
Inventories - Raw Materials, Total	85.65K	198K	204K	159K	221K
Inventories - Finished Goods, Total	528K	713K	755K	779K	1.16M
Inventories - Others	33.39K	30.12K	37.14K	69.25K	77.45K
Land - (BS)	1.56M	1.56M	1.57M	1.59M	1.6M
Machinery, Total	1.21M	1.65M	1.93M	1.98M	2.03M
Full Time Employees	23	29	33	41	50

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	1.16M	716K	590K	353K	737K
Depreciation & Amortization - CF	281K	324K	351K	311K	252K
Amortization of Goodwill and Intangible Assets - (CF)	157K	162K	235K	230K	513K
Depreciation & Amortization, Total	438K	487K	586K	541K	765K
Amortization of Deferred Charges, Total - (CF)	631	134K	133K	147K	147K
Asset Writedown & Restructuring Costs	12K	-	-	-	-
Other Operating Activities, Total	-28.06K	-32.17K	47.46K	35.56K	178K
Change In Accounts Receivable	-24.65K	-42.92K	-185K	78.5K	-608K
Change In Inventories	-12.54K	-295K	-54.98K	-10.57K	-449K
Change In Accounts Payable	116K	326K	-62.65K	32.15K	384K
Change in Other Net Operating Assets	581K	-531K	242K	64.54K	-236K
Cash from Operations	2.24M	762K	1.3M	1.24M	919K
Capital Expenditure	-177K	-460K	-313K	-66.82K	-68.56K
Sale of Property, Plant, and Equipment	-	13.97K	-	-	-
Sale (Purchase) of Intangible assets	-44.3K	-718K	-1.13M	-451K	-2.5M
Investment in Marketable and Equity Securities, Total	-391K	-715K	346K	-432K	1.27M
Other Investing Activities, Total	-	-	-1	-	1
Cash from Investing	-612K	-1.88M	-1.1M	-950K	-1.29M
Short Term Debt Issued, Total	14.9K	-	171	5.04K	237K
Long-Term Debt Issued, Total	-	-	-	-	1.08M
Total Debt Issued	14.9K	-	171	5.04K	1.31M
Short Term Debt Repaid, Total	-42.55K	-32.27K	-	-	-
Long-Term Debt Repaid, Total	-	-129K	-116K	-88.15K	-345K
Total Debt Repaid	-42.55K	-161K	-116K	-88.15K	-345K
Issuance of Common Stock	-	3M	-	-	20.43K
Repurchase of Common Stock	-	-	-441K	-121K	-
Common Dividends Paid	-2.15M	-550K	-166K	-554K	-
Common & Preferred Stock Dividends Paid	-2.15M	-550K	-166K	-554K	-
Other Financing Activities, Total	-	-70.38K	-101K	-35	64.24K
Cash from Financing	-2.18M	2.22M	-824K	-758K	1.05M
Miscellaneous Cash Flow Adjustments	-	-	1	-	-
Net Change in Cash	-550K	1.1M	-627K	-467K	677K
Supplemental Items
Cash Income Tax Paid (Refund)	432K	307K	206K	195K	175K
Levered Free Cash Flow	1.75M	-1.25M	-235K	866K	-1.6M
Unlevered Free Cash Flow	1.76M	-1.22M	-217K	883K	-1.56M
Change In Net Working Capital	-564K	1.28M	13.71K	-386K	578K
Net Debt Issued / Repaid	-27.65K	-161K	-116K	-83.1K	967K

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	13.54	6.98	5.06	3.3	6.13
Return on Total Capital	16.4	8.88	6.24	4.02	7.54
Return On Equity %	22.15	11.39	7.51	4.57	9.25
Return on Common Equity	22.15	11.39	7.52	4.58	9.5
Margin Analysis
Gross Profit Margin %	55.22	51.91	43.84	42.07	37.97
SG&A Margin	16.31	21.94	20.88	24.65	18.73
EBITDA Margin %	40.25	31.23	23.98	17.66	18.82
EBITA Margin %	34.62	24.35	18.06	12.5	16.23
EBIT Margin %	31.47	20.91	14.11	8.68	10.96
Income From Continuing Operations Margin %	23.22	15.17	9.95	5.85	7.57
Net Income Margin %	23.22	15.17	9.95	5.85	7.57
Net Avail. For Common Margin %	23.22	15.17	9.95	5.85	7.57
Normalized Net Income Margin	19.52	12.56	8.59	5.45	6.69
Levered Free Cash Flow Margin	35.13	-26.44	-3.97	14.35	-16.46
Unlevered Free Cash Flow Margin	35.34	-25.93	-3.65	14.64	-16.06
Asset Turnover
Asset Turnover	0.69	0.53	0.57	0.61	0.9
Fixed Assets Turnover	2.35	2.22	2.74	2.97	5.37
Receivables Turnover (Average Receivables)	13.07	12.07	11.55	10.6	11.65
Inventory Turnover (Average Inventory)	3.49	2.86	3.44	3.49	4.9
Short Term Liquidity
Current Ratio	1.23	2.85	2.75	1.91	2
Quick Ratio	0.77	2.14	1.82	1.03	1.3
Operating Cash Flow to Current Liabilities	1.55	0.55	1.16	1.04	0.44
Days Sales Outstanding (Average Receivables)	27.92	30.23	31.61	34.54	31.33
Days Outstanding Inventory (Average Inventory)	104.7	127.7	106.16	104.9	74.45
Average Days Payable Outstanding	49.55	69.07	67.22	63.28	38.61
Cash Conversion Cycle (Average Days)	83.06	88.86	70.55	76.16	67.17
Long Term Solvency
Total Debt/Equity	15.69	7.42	5.9	5.05	16.1
Total Debt / Total Capital	13.56	6.91	5.57	4.81	13.86
LT Debt/Equity	12.16	5.7	4.19	3.2	11.6
Long-Term Debt / Total Capital	10.51	5.31	3.96	3.05	9.99
Total Liabilities / Total Assets	33.39	25.64	22.32	22.04	30.43
EBIT / Interest Expense	92.44	25.54	28.12	18.79	17.42
EBITDA / Interest Expense	118.22	38.13	47.81	38.2	29.92
(EBITDA - Capex) / Interest Expense	107.82	26.22	37.28	35.81	28.8
Total Debt / EBITDA	0.37	0.39	0.33	0.36	0.74
Net Debt / EBITDA	0.2	-0.6	-0.27	0.01	0.16
Total Debt / (EBITDA - Capex)	0.41	0.57	0.42	0.38	0.77
Net Debt / (EBITDA - Capex)	0.22	-0.88	-0.34	0.01	0.17
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	23.57	-5.74	25.7	1.69	61.32
Gross Profit, 1 Yr. Growth %	17.33	-11.47	6.17	-2.43	45.62
EBITDA, 1 Yr. Growth %	12.81	-27.14	-11.51	-31.54	51.16
EBITA, 1 Yr. Growth %	16.03	-34.02	-16.49	-37.42	75.39
EBIT, 1 Yr. Growth %	5.49	-37.53	-15.23	-37.39	103.56
Earnings From Cont. Operations, 1 Yr. Growth %	1.54	-38.59	-17.56	-40.23	108.88
Net Income, 1 Yr. Growth %	1.54	-38.59	-17.56	-40.23	108.88
Normalized Net Income, 1 Yr. Growth %	4.44	-39.5	-14.06	-35.44	98.08
Diluted EPS Before Extra, 1 Yr. Growth %	-	-89.76	-13.72	-40.08	110.31
Accounts Receivable, 1 Yr. Growth %	2.07	11.87	45.68	-13.32	119.1
Inventory, 1 Yr. Growth %	1.98	45.54	5.84	1.06	44.56
Net Property, Plant and Equip., 1 Yr. Growth %	-4.8	5.89	-1.72	-11.37	-9.64
Total Assets, 1 Yr. Growth %	-3.87	47.72	-3.68	-4.44	24.24
Tangible Book Value, 1 Yr. Growth %	-27.18	134.69	-15.68	-9.89	-37.24
Common Equity, 1 Yr. Growth %	-17.35	65.35	0.34	-3.92	5.39
Cash From Operations, 1 Yr. Growth %	61.79	-66.49	70.25	-4.32	-25.97
Capital Expenditures, 1 Yr. Growth %	150.38	159.9	-31.89	-78.68	2.59
Levered Free Cash Flow, 1 Yr. Growth %	535.86	-163.89	-81.14	-467.92	-284.95
Unlevered Free Cash Flow, 1 Yr. Growth %	530.17	-162.32	-82.29	-507.53	-276.97
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.45	8.15	8.85	13.06	28.08
Gross Profit, 2 Yr. CAGR %	-0.63	2.17	-3.05	1.78	19.2
EBITDA, 2 Yr. CAGR %	-0.57	-8.98	-16.13	-18.6	8.5
EBITA, 2 Yr. CAGR %	-2.29	-12.1	-21.56	-23.34	14.5
EBIT, 2 Yr. CAGR %	-6.84	-18.54	-27.23	-27.15	12.89
Earnings From Cont. Operations, 2 Yr. CAGR %	-6	-20.74	-28.85	-29.81	11.73
Net Income, 2 Yr. CAGR %	-6	-20.74	-28.85	-29.81	11.73
Normalized Net Income, 2 Yr. CAGR %	-6.84	-20.24	-27.89	-25.51	13.08
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-70.28	-28.1	12.26
Accounts Receivable, 2 Yr. CAGR %	-9.95	6.95	27.66	12.37	37.81
Inventory, 2 Yr. CAGR %	-6.53	21.83	24.11	3.42	20.87
Net Property, Plant and Equip., 2 Yr. CAGR %	-9.96	0.42	2.02	-6.67	-10.5
Total Assets, 2 Yr. CAGR %	23.62	19.42	19.28	-4.06	8.96
Tangible Book Value, 2 Yr. CAGR %	0.2	30.96	40.68	-12.83	-24.8
Common Equity, 2 Yr. CAGR %	40.66	17.01	28.81	-1.81	0.63
Cash From Operations, 2 Yr. CAGR %	-	-25.81	-24.47	27.63	-15.84
Capital Expenditures, 2 Yr. CAGR %	-	155.5	33.05	-61.89	-53.23
Levered Free Cash Flow, 2 Yr. CAGR %	-	112.85	-65.29	-16.7	160.86
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	109.2	-66.78	-15.04	168.55
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.69	1.08	13.71	6.41	27.28
Gross Profit, 3 Yr. CAGR %	2.21	-4.22	3.49	-2.84	14.69
EBITDA, 3 Yr. CAGR %	4.05	-10.12	-7.18	-19.24	4.45
EBITA, 3 Yr. CAGR %	1.71	-14.02	-10.36	-24.35	7.17
EBIT, 3 Yr. CAGR %	-1.47	-18.27	-17.45	-30.79	2.61
Earnings From Cont. Operations, 3 Yr. CAGR %	-0.32	-18.24	-19.7	-32.86	0.96
Net Income, 3 Yr. CAGR %	-0.32	-18.24	-19.7	-32.86	0.96
Normalized Net Income, 3 Yr. CAGR %	-1.46	-19.14	-18.23	-30.5	3.2
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-62.46	2.83
Accounts Receivable, 3 Yr. CAGR %	-11.31	-3.14	18.56	12.2	40.38
Inventory, 3 Yr. CAGR %	6.63	8.34	16.25	15.9	15.64
Net Property, Plant and Equip., 3 Yr. CAGR %	-1.79	-4.95	-0.3	-2.66	-7.67
Total Assets, 3 Yr. CAGR %	22.05	31.37	11.16	10.78	4.57
Tangible Book Value, 3 Yr. CAGR %	7.02	33.23	13.09	21.26	-21.88
Common Equity, 3 Yr. CAGR %	34.35	48.54	11.17	16.82	0.53
Cash From Operations, 3 Yr. CAGR %	-	-	-2.14	-18.28	6.44
Capital Expenditures, 3 Yr. CAGR %	-	-	64.43	-27.73	-46.99
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-5.11	-23.75	8.67
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-8.14	-23.38	8.5
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	7.63	5.71	19.25
Gross Profit, 5 Yr. CAGR %	-	-	0.18	-1.86	9.51
EBITDA, 5 Yr. CAGR %	-	-	-4.4	-12.1	0.59
EBITA, 5 Yr. CAGR %	-	-	-8.17	-16.04	1.21
EBIT, 5 Yr. CAGR %	-	-	-12.6	-21.94	-6.44
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-12.77	-23.08	-8.35
Net Income, 5 Yr. CAGR %	-	-	-12.77	-23.08	-8.35
Normalized Net Income, 5 Yr. CAGR %	-	-	-12.91	-21.75	-6.91
Accounts Receivable, 5 Yr. CAGR %	-	-	2.64	2.79	25.91
Inventory, 5 Yr. CAGR %	-	-	13.31	6.34	18.07
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-0.28	-5.64	-4.52
Total Assets, 5 Yr. CAGR %	-	-	21.04	15.85	10.28
Tangible Book Value, 5 Yr. CAGR %	-	-	19.47	12.43	-3.94
Common Equity, 5 Yr. CAGR %	-	-	32.15	25.87	6.83
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-7.87
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-0.56
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	42.2
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	41.09