GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY
Barry Callebaut AG (OTCPK:BRRLY)
[1]
Fairly Valued[5]$ 21.23
GF Score: 80/100Market Cap: $ 11,636 Mil
Industry: Consumer Defensive - Consumer Packaged Goods
Barry Callebaut AG is a manufacturer and supplier of cocoa and ingredient chocolate. Its customers are food and beverage manufacturers and professional users of chocolate.
GF Value Rank
Rank: 5 /10CurrentIndustry MedianHistorical Median
PE Ratio28.1017.5529.25
Forward P/E23.7517.15N/A
PB Ratio4.191.563.81
PS Ratio1.461.131.14
P/FCF29.3716.8135.40
Shiller P/E40.3319.4132.96
PEG Ratio3.561.757.46
Valuation Analysis
Current% of Price
NCAV-0.45-2
Tangible Book3.1615
EPV5.2525
Peter Lynch Value5.6827
Graham Number7.3335
DCF (FCF Based)9.8046
DCF (Earnings Based)10.8351
Median PS Value15.4573
Price21.23
GF Value22.48106
Dividend & Ownership
Dividend Yield (TTM) %1.43
Dividend Yield (Forward) %1.43
Dividend Payout Ratio0.38
Dividend Growth (5Y) %26.40
Yield on Cost (5Y) %4.61
Continuous Div. since2021
Insider Ownership %N/A
Institution Ownership %N/A
Financial Strength
Rank: 6 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.320.550.07
Equity-to-Asset0.360.530.34
Interest Coverage5.7011.144.32
Piotroski F-Score855
Profitability Rank
Rank: 8 /10CurrentIndustry MedianHistorical Median
Operating Margin %7.754.897.24
Net Margin %5.203.724.44
ROE %15.407.0014.24
ROA %5.473.375.14
ROC (Joel Greenblatt) %18.1210.9617.46
Growth Rank(* per share data)
Rank: 7 /1010-Yr5-Yr1-Yr
Revenue Growth %4.51.417.6
EBITDA Growth %6.17.919.9
Oprt. Income Growth %5.26.121.4
EPS w/o NRI Growth %4.39.829.0
FCF Growth %N/A-6.4-21.4
Book Value Growth %7.16.18.7
Momentum Rank
Rank: 3 /10CurrentIndustry MedianHistorical Median
5-Day RSI1.2246.14N/A
9-Day RSI5.3644.96N/A
14-Day RSI12.5745.24N/A
6-1M Momentum %-9.09-3.53N/A
12-1M Momentum %0.22-3.85N/A
Quarterly
Feb20Aug20Feb21Aug21Feb22
Revenue3,8543,4413,8774,0744,367
Net Income213.67118.11229.06194.89243.75
EPS0.390.220.420.360.44
Revenue YoY %1.550.055.729.6413.34
Net Income YoY %15.54-36.2814.9411.7314.08
EPS YoY %15.82-36.0115.2411.9914.43
Free Cash Flow-377.68748.81-212.78581.01-158.43
Cash & Equiv.157.741,548967.221,222793.86
Current Assets4,8114,7715,0264,6644,870
Short-Term Debt & CLO490.78661.08452.16244.96376.35
Current Liabilities3,2672,6052,7552,3562,719
Total Liabilities5,2635,2605,5184,9845,126
Stockholders Equity2,4622,5872,7602,9332,922
Good Signs
GOODAltman Z-Score: Strong
GOODPiotroski F-Score: High
As of 05-20-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
%GainSP500
1W-8.69-0.73
1M-6.89-12.49
3M9.72-10.03
6M-14.14-16.39
YTD-11.20-17.75
1Y-5.34-3.96
3Y12.1112.66
5Y--12.26
10Y--13.75
27.65
6.00
15.65
3544
1772
2012201320142015201620172018201920202021CurrentPerformance
--------------15.6521.5524.9427.65Highest Stock Price
--------------11.7616.9319.8719.35Lowest Stock Price
--------------8,57210,62313,42811,636Market Cap
519.1525.8551.4550.7550.4551.3551.7550.9550.0549.7549.4Shares Outstanding-Diluted
33.0020.6024.5824.6332.0627.1226.7730.1134.8133.4228.10PE Ratio
--------------3.504.114.584.19PB Ratio
0.970.941.060.941.041.121.371.531.601.781.46PS Ratio
12.8714.3415.2014.3316.1614.4614.4716.0617.3517.8515.52EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
9.6110.0311.6911.7012.4912.7912.7513.5613.7714.3315.38Revenue per Share
0.280.460.500.450.410.530.650.690.630.760.80Earnings per Share
-0.110.14-0.39-0.040.790.870.550.510.630.680.77Free Cash Flow per Share
--------------0.250.280.240.30Dividends per Share
1.521.571.801.651.852.242.362.562.753.373.33Tangible Book per Share
--------------10.4212.9215.7615.45Median PS Value
4.054.094.514.074.115.155.896.296.247.617.73Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
4,9895,2746,4486,4456,8757,0507,0337,4687,5767,8808,441Revenue
694.74786.82946.50874.37888.90993.281,1711,2231,1691,2541,289Gross Profit
13.9314.9214.6813.5712.9314.0916.6516.3815.4315.9215.27Gross Margin %
329.40414.86484.62439.71462.47520.50583.79596.16612.42618.53634.52Total Operating Expense
365.34371.96461.88434.66426.43472.77587.34627.10556.61635.66654.44Operating Income
7.327.057.166.746.206.718.358.407.358.077.75Operating Margin %
146.79241.28277.40244.93223.51290.60360.46378.34347.35419.74438.64Net Income
2.944.584.303.803.254.125.135.074.595.335.20Net Margin %
363.33372.29449.33413.21392.23465.09554.01608.04526.28608.84645.73EBIT
451.01475.35575.96543.30534.77620.43737.47788.26779.26861.05902.67EBITDA
10.1515.3314.6612.9011.7713.9916.0815.9313.7915.2115.28ROE %
3.735.625.254.343.935.096.236.034.795.325.43ROA %
2012201320142015201620172018201920202021Feb22Balance Sheet
55.6770.8593.97129.22470.39413.65409.09569.971,5231,198792.25Cash & Equivalents
3,6944,8885,6805,6065,7625,6635,9036,6507,8487,9208,050Total Assets
156.56263.55522.21701.26779.17351.74315.10336.82661.08244.96376.35Short-Term Debt & CLO
873.781,4721,5561,2141,1871,2131,1831,5682,3702,3552,145Long-Term Debt & CLO
2,3583,0673,7063,7613,7793,4613,5904,1845,2604,9845,126Total Liabilities
1,3311,8171,9681,8311,9672,1872,2972,4522,5872,9332,922Total Stockholders Equity
1,3361,8211,9741,8451,9832,2032,3132,4662,5882,9362,924Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
169.89316.4657.59234.05639.98708.58521.77567.84652.32673.05676.14Cash Flow from Operations
-103.84-1,157-249.25-211.54-223.99-213.11-334.30-306.54-317.93-285.98-255.14Cash Flow from Investing
-72.52874.74211.3315.72-70.64-544.55-176.07-196.88639.66-676.70-538.07Cash Flow from Financing
-5.2134.2318.2824.73349.71-55.38-0.1148.30942.06-273.43-158.79Net Change in Cash
20.2655.4074.6794.87444.33391.62382.51434.441,4091,129577.01Ending Cash Position
-224.99-241.32-273.44-257.29-207.00-228.36-220.58-285.66-308.71-300.91-253.55Capital Expenditure
-55.1075.14-215.85-23.23432.98480.22301.19282.18343.61372.14422.58Free Cash Flow
Competitor
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
OTCPK:BRRLYBarry Callebaut AG11,63628.108068573
XKRX:004990Lotte Corp4,6487.8284361098
BSP:SMTO3Sao Martinho SA3,33710.9382591106
XKRX:271560Orion Corp (Spin Co)2,95214.575485401
NYSE:TRTootsie Roll Industries Inc2,20933.067277951
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Financial Strength[2] (Quarterly data, as of Feb. 2022) : Fair (6/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.32

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.36

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.86

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 8

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 4.11% vs ROIC : 10.05%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 1.57%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Profitability[3] (Annual data, as of Aug. 2021) : Good (8/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $4,367 Mil vs Net Income : $244 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $792 Mil vs Long-Term Debt* : $2,145 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 8.03%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.44

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.30

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $-0.29

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Valuation (Quarterly data, as of Feb. 2022)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $21.23)


PE Ratio without NRI : At Loss

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 3.63

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 0.00

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 0.00

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 0.00

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Good Signs

Altman Z-Score : Strong

Altman Z-score of 3.75 is strong.

Piotroski F-Score : High

Piotroski F-Score is 8, indicating very healthy situation.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Medium Warning Signs

Price : Close to 10-year high

Barry Callebaut AG stock Price is close to 10-year high

PS Ratio : Close to 10-year high

Barry Callebaut AG stock PS Ratio (=1.72) is close to 10-year high of 1.83

Long-Term Debt : Issuing new debt

Barry Callebaut AG has been issuing new debt. Over the past 3 years, it issued CHF 321.036 million of debt. But overall, its debt level is acceptable.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
SZSE:301206Shandong Sanyuan Biotechnology Co Ltd10/10No Debt0.910.00170.34N/A12.894.170.0034.64
TSE:2222Kotobuki Spirits Co Ltd9/109.480.730.04297.17419.410.008.740.92
CAS:CSRCie Sucriere Marocaine et de Raffinage COSUMAR8/100.600.450.2115.7773.22-2.577.2913.09
TSE:2201Morinaga & Co Ltd8/103.510.600.08584.6473.330.001.619.61
XKRX:271560Orion Corp (Spin Co)8/102.850.710.12108.7054.48-2.553.5612.24
NYSE:TRTootsie Roll Industries Inc7/109.210.760.02N/A66.65-2.190.957.52
OTCPK:BRRLYBarry Callebaut AG6/100.320.360.865.7083.75-2.404.1110.05
BSP:SMTO3Sao Martinho SA5/100.280.341.094.9382.23-2.877.3112.71
XKRX:004990Lotte Corp3/100.340.350.989.1371.25-2.203.233.03
BOM:532670Shree Renuka Sugars Ltd3/100.04-0.17-4.740.7131.32-1.739.344.49

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
CAS:CSRCie Sucriere Marocaine et de Raffinage COSUMAR9/1011.956.4714.566.3412.7222.172.101.70-100.00
TSE:2201Morinaga & Co Ltd9/109.236.5710.956.630.0023.200.307.0010.50
BSP:SMTO3Sao Martinho SA9/1034.0227.1433.5111.0816.9325.446.5018.1022.10
OTCPK:BRRLYBarry Callebaut AG8/107.755.2015.405.4729.3718.121.402.802.70
TSE:2222Kotobuki Spirits Co Ltd8/100.933.635.684.360.0016.37-14.70-46.200.00
SZSE:301206Shandong Sanyuan Biotechnology Co Ltd8/1035.5031.3933.1225.09222.9385.8276.6094.6096.20
NYSE:TRTootsie Roll Industries Inc7/1012.7510.958.746.6340.9937.794.605.306.00
XKRX:004990Lotte Corp6/102.183.114.581.8119.794.359.60-0.30-15.30
XKRX:271560Orion Corp (Spin Co)5/1015.8310.9412.829.0614.6020.756.909.3022.60
BOM:532670Shree Renuka Sugars Ltd2/104.76-6.150.00-5.330.001.44-23.90117.0056.40

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
BOM:532670Shree Renuka Sugars LtdAt Loss0.001.820.000.000.000.000.000.371.73
XKRX:004990Lotte Corp7.820.350.241.070.000.220.000.361.78-5.70
BSP:SMTO3Sao Martinho SA10.933.392.951.480.291.330.481.3411.3323.43
SZSE:301206Shandong Sanyuan Biotechnology Co Ltd13.301.964.190.000.000.000.511.096.880.00
XKRX:271560Orion Corp (Spin Co)14.571.691.590.000.000.000.001.0611.740.00
TSE:2201Morinaga & Co Ltd14.611.540.961.050.380.990.001.0011.1810.75
OTCPK:BRRLYBarry Callebaut AG28.104.191.462.231.961.373.742.904.6210.73
NYSE:TRTootsie Roll Industries Inc33.062.833.601.820.000.880.002.484.712.13
TSE:2222Kotobuki Spirits Co Ltd199.0710.827.226.290.002.460.009.830.97-14.10
CAS:CSRCie Sucriere Marocaine et de Raffinage COSUMARN/A4.241.951.930.001.390.000.007.272.56
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Per Share Data


Per Share Data

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
5.80
6.60
8.58
8.83
8.40
11.02
9.61
10.03
11.69
11.70
12.49
12.79
12.75
13.56
13.77
14.33
15.38
Revenue per Share
0.65
0.75
0.80
0.84
0.82
1.13
0.87
0.90
1.04
0.99
0.97
1.13
1.34
1.43
1.42
1.57
1.64
EBITDA per Share
0.47
0.57
0.61
0.65
0.64
0.90
0.70
0.71
0.82
0.75
0.71
0.84
1.00
1.10
0.96
1.11
1.18
EBIT per Share
0.29
0.20
0.37
0.41
0.47
0.65
0.28
0.46
0.50
0.45
0.41
0.53
0.65
0.69
0.63
0.76
0.80
Earnings per Share (Diluted)
0.30
0.33
0.37
0.41
0.44
0.65
0.48
0.47
0.50
0.45
0.41
0.53
0.65
0.69
0.63
0.76
0.80
EPS without NRI
--
--
--
--
--
--
--
--
--
--
--
--
--
0.68
0.77
0.84
0.83
Owner Earnings per Share (TTM)
0.16
0.13
-0.15
0.17
0.06
-0.00
-0.11
0.14
-0.39
-0.04
0.79
0.87
0.55
0.51
0.63
0.68
0.77
Free Cash Flow per Share
0.33
0.38
0.29
0.44
0.33
0.43
0.33
0.60
0.10
0.43
1.16
1.29
0.95
1.03
1.19
1.22
1.23
Operating Cash Flow per Share
0.06
0.07
0.06
0.07
0.03
0.11
0.11
0.20
0.19
0.26
0.86
0.80
0.77
1.08
2.83
2.23
1.45
Cash per Share
--
--
--
--
--
--
--
--
--
--
--
--
--
0.25
0.28
0.24
0.30
Dividends per Share
1.57
1.70
2.10
2.27
2.43
3.02
2.58
3.31
3.59
3.34
3.59
3.99
4.20
4.48
4.72
5.35
5.33
Book Value per Share
0.95
1.04
1.26
1.38
1.47
1.87
1.52
1.57
1.80
1.65
1.85
2.24
2.36
2.56
2.75
3.37
3.33
Tangible Book per Share
1.50
1.01
1.22
1.37
1.66
1.75
1.99
3.17
3.79
3.50
3.59
2.86
2.74
3.48
5.54
4.74
4.60
Total Debt per Share
--
--
--
--
--
--
--
--
--
--
--
--
--
15.65
19.40
24.50
21.23
Month End Stock Price

Ratios

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
20.20
12.19
19.20
18.80
19.91
16.18
10.15
15.33
14.66
12.90
11.77
13.99
16.08
15.93
13.79
15.21
15.28
ROE %
--
--
--
--
--
--
--
--
--
--
--
--
--
4.55
3.36
3.32
3.68
ROE % Adjusted to Book Value
6.68
4.18
6.22
6.31
7.20
5.98
3.73
5.62
5.25
4.34
3.93
5.09
6.23
6.03
4.79
5.32
5.43
ROA %
35.03
20.06
31.75
31.16
32.83
26.42
16.77
29.23
30.00
25.90
23.31
25.94
28.59
28.06
23.90
25.07
24.73
Return-on-Tangible-Equity
7.77
4.83
7.13
7.28
8.40
6.97
4.36
6.81
6.43
5.22
4.71
6.11
7.51
7.21
5.62
6.17
6.28
Return-on-Tangible-Asset
18.99
23.88
24.91
22.58
20.22
26.31
19.62
16.67
15.76
13.99
14.39
18.08
22.07
22.47
17.50
18.75
17.97
ROC (Joel Greenblatt) %
17.10
19.95
18.63
16.88
15.78
19.97
14.56
12.57
12.32
11.70
11.70
13.04
14.89
15.12
11.01
11.27
11.80
ROCE %
11.37
12.20
13.08
12.99
11.86
14.80
10.64
9.27
9.03
7.90
8.11
9.50
10.64
10.60
8.84
10.00
9.97
ROIC %
7.20
7.19
8.44
6.91
4.65
4.77
4.64
5.72
5.31
3.80
3.59
4.24
4.12
3.91
3.24
4.33
4.11
WACC %
8.23
14.61
16.36
13.64
8.98
10.63
7.85
6.23
6.42
6.00
6.07
6.48
6.25
8.55
4.37
3.57
4.28
Effective Interest Rate on Debt %
16.48
15.92
14.55
14.50
14.36
14.78
13.93
14.92
14.68
13.57
12.93
14.09
16.65
16.38
15.43
15.92
15.27
Gross Margin %
7.85
7.89
7.08
7.19
7.54
8.12
7.32
7.05
7.16
6.74
6.20
6.71
8.35
8.40
7.35
8.07
7.75
Operating Margin %
4.93
3.02
4.27
4.65
5.56
3.98
2.94
4.58
4.30
3.80
3.25
4.12
5.13
5.07
4.59
5.33
5.20
Net Margin %
11.12
11.43
9.31
9.48
9.80
10.24
9.04
9.01
8.93
8.43
7.78
8.80
10.49
10.56
10.29
10.93
10.69
EBITDA Margin %
2.69
1.99
-1.76
1.96
0.72
-0.02
-1.10
1.42
-3.35
-0.36
6.30
6.81
4.28
3.78
4.54
4.72
5.01
FCF Margin %
0.96
0.59
0.58
0.60
0.68
0.58
0.77
0.96
1.06
1.05
1.00
0.72
0.65
0.78
1.17
0.89
0.86
Debt-to-Equity
0.36
0.33
0.32
0.36
0.37
0.37
0.36
0.37
0.35
0.33
0.34
0.39
0.39
0.37
0.33
0.37
0.36
Equity-to-Asset
0.34
0.20
0.18
0.22
0.25
0.22
0.28
0.36
0.37
0.34
0.34
0.28
0.25
0.29
0.39
0.33
0.31
Debt-to-Asset
0.64
0.67
0.68
0.64
0.64
0.63
0.64
0.63
0.65
0.67
0.66
0.61
0.61
0.63
0.67
0.63
0.64
Liabilities-to-Assets
22.33
22.04
21.23
19.69
18.59
22.17
17.64
18.34
17.91
15.50
15.64
17.39
20.25
19.49
16.13
15.91
15.95
Gross-Profit-to-Asset %
1.36
1.39
1.46
1.36
1.30
1.50
1.27
1.23
1.22
1.14
1.21
1.23
1.22
1.19
1.05
1.00
1.04
Asset Turnover
--
--
--
--
--
--
--
--
--
--
--
--
--
0.36
0.45
0.31
0.38
Dividend Payout Ratio
29.74
25.82
30.29
39.20
44.28
36.98
43.25
38.77
29.22
26.42
36.46
35.33
23.47
22.97
21.31
22.14
34.49
Days Sales Outstanding
34.31
36.77
55.05
74.96
74.37
59.30
64.68
50.53
40.74
43.81
55.76
56.10
42.68
38.33
38.82
46.59
72.85
Days Payable
105
107
107
118
115
93.93
107
110
116
119
102
89.61
87.80
97.54
112
119
128
Days Inventory
100
96.12
82.05
81.84
85.06
71.61
85.29
98.32
105
101
82.26
68.84
68.59
82.18
94.78
94.90
89.72
Cash Conversion Cycle
3.49
3.41
3.42
3.10
3.17
3.89
3.42
3.32
3.14
3.08
3.59
4.07
4.16
3.74
3.25
3.06
2.85
Inventory Turnover
0.84
0.84
0.85
0.85
0.86
0.85
0.86
0.85
0.85
0.86
0.87
0.86
0.83
0.84
0.85
0.84
0.85
COGS-to-Revenue
0.24
0.25
0.25
0.28
0.27
0.22
0.25
0.26
0.27
0.28
0.24
0.21
0.20
0.22
0.26
0.28
0.30
Inventory-to-Revenue
0.03
0.04
0.05
0.03
0.03
0.04
0.05
0.05
0.04
0.04
0.03
0.03
0.03
0.04
0.04
0.04
0.03
Capex-to-Revenue
0.39
0.47
0.73
0.41
0.43
0.48
0.62
0.65
0.59
0.59
0.49
0.48
0.38
0.46
0.56
0.47
0.39
Capex-to-Operating-Income
0.53
0.65
1.52
0.60
0.82
1.01
1.32
0.76
4.75
1.10
0.32
0.32
0.42
0.50
0.47
0.45
0.38
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Financial Statement

Income Statement

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
3,014
3,415
4,442
4,568
4,356
5,718
4,989
5,274
6,448
6,445
6,875
7,050
7,033
7,468
7,576
7,880
8,441
Revenue
2,518
2,871
3,795
3,906
3,730
4,873
4,294
4,487
5,501
5,571
5,987
6,057
5,862
6,245
6,407
6,626
7,152
Cost of Goods Sold
497
544
646
663
625
845
695
787
946
874
889
993
1,171
1,223
1,169
1,254
1,289
Gross Profit
16.48
15.92
14.55
14.50
14.36
14.78
13.93
14.92
14.68
13.57
12.93
14.09
16.65
16.38
15.43
15.92
15.27
Gross Margin %
183
305
361
347
301
390
337
421
495
452
476
533
598
596
612
619
635
Selling, General, & Admin. Expense
77.38
-30.90
-29.31
-12.98
-4.26
-9.35
-7.44
-6.24
-10.87
-12.54
-13.57
-12.94
-14.38
0.00
--
-0.00
-- Other Operating Expense
260
274
332
334
297
380
329
415
485
440
462
521
584
596
612
619
635
Total Operating Expense
237
269
315
328
328
465
365
372
462
435
426
473
587
627
557
636
654
Operating Income
7.85
7.89
7.08
7.19
7.54
8.12
7.32
7.05
7.16
6.74
6.20
6.71
8.35
8.40
7.35
8.07
7.75
Operating Margin %
2.17
25.17
8.36
5.53
1.95
1.74
1.55
0.58
1.91
2.44
3.62
5.37
6.45
10.88
7.36
3.98
6.70
  Interest Income
-64.29
-94.68
-93.97
-91.26
-70.27
-93.38
-75.83
-86.18
-122
-120
-118
-114
-95.64
-145
-108
-100
-115
  Interest Expense
-68.13
-69.51
-85.61
-85.73
-68.32
-91.63
-81.95
-99.40
-131
-127
-127
-122
-99.76
-145
-109
-107
-119
Net Interest Income
10.72
-0.05
-5.93
0.45
-0.22
1.50
4.13
13.55
-3.62
-14.07
-25.50
-0.14
-29.21
-18.99
-29.30
-20.28
-4.88
Other Income (Expense)
179
200
223
243
260
374
288
286
327
293
274
351
458
463
418
508
531
Pre-Tax Income
-25.20
-27.70
-30.25
-30.63
-31.24
-36.39
-38.46
-38.34
-46.61
-45.71
-48.94
-59.50
-96.68
-85.87
-76.06
-88.02
-91.77
Tax Provision
14.06
13.86
13.56
12.60
12.02
9.72
13.38
13.40
14.26
15.58
17.84
16.96
21.09
18.56
18.18
17.31
17.28
Tax Rate %
154
172
193
212
229
227
249
248
280
248
225
291
362
377
342
420
439
Net Income (Continuing Operations)
-4.99
-69.00
-3.34
--
13.76
-111
-102
-7.22
--
--
--
--
--
--
--
--
-- Net Income (Discontinued Operations)
-0.45
0.02
0.81
0.02
0.50
1.10
-0.49
0.74
-2.87
-2.74
-1.97
-0.66
-1.24
1.58
5.01
-0.62
-0.53
  Other Income (Minority Interest)
149
103
190
212
242
228
147
241
277
245
224
291
360
378
347
420
439
Net Income
4.93
3.02
4.27
4.65
5.56
3.98
2.94
4.58
4.30
3.80
3.25
4.12
5.13
5.07
4.59
5.33
5.20
Net Margin %
0.29
0.20
0.37
0.41
0.47
0.66
0.28
0.46
0.51
0.45
0.41
0.53
0.66
0.69
0.63
0.77
0.80
EPS (Basic)
0.29
0.20
0.37
0.41
0.47
0.65
0.28
0.46
0.50
0.45
0.41
0.53
0.65
0.69
0.63
0.76
0.80
EPS (Diluted)
520
517
518
517
518
519
519
526
551
551
550
551
552
551
550
550
549
Shares Outstanding (Diluted Average)
244
295
317
334
330
468
363
372
449
413
392
465
554
608
526
609
646
EBIT
91.83
95.91
96.35
98.64
96.54
118
87.68
103
127
130
143
155
183
180
253
252
257
Depreciation, Depletion and Amortization
335
390
413
433
427
586
451
475
576
543
535
620
737
788
779
861
903
EBITDA
11.12
11.43
9.31
9.48
9.80
10.24
9.04
9.01
8.93
8.43
7.78
8.80
10.49
10.56
10.29
10.93
10.69
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Financial Statement

Cashflow Statement

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
175
136
193
243
260
374
187
280
327
293
274
291
362
377
342
420
439
Net Income From Continuing Operations
91.83
95.91
96.35
98.64
96.54
118
87.68
103
127
130
143
155
183
180
253
252
257
Depreciation, Depletion and Amortization
29.81
-51.33
21.41
-22.65
-23.60
-81.33
-161
-88.47
-35.97
-176
2.98
214
-200
82.32
129
-124
-193
  Change In Receivables
-59.63
-103
-141
-8.71
-138
-245
70.29
-22.63
-393
-74.30
135
327
-217
7.63
-246
-123
-198
  Change In Inventory
13.53
122
-20.84
-21.75
-8.79
95.76
-51.43
44.61
124
160
78.83
-312
361
-56.22
140
202
363
  Change In Other Working Capital
-16.29
-31.92
-140
-53.11
-170
-231
-143
-66.49
-304
-90.11
217
229
-55.22
33.73
22.93
-44.97
-27.85
Change In Working Capital
--
--
--
--
--
--
--
--
--
--
--
59.50
96.68
85.87
76.06
88.02
91.77
Deferred Tax
6.30
6.98
--
--
--
10.74
8.32
13.31
14.06
13.31
12.59
12.70
14.64
15.37
13.75
17.52
17.29
Stock Based Compensation
-84.21
-11.92
2.96
-63.31
-14.84
-51.14
29.62
-13.87
-106
-113
-6.11
-38.71
-79.49
-124
-55.74
-60.10
-101
Cash Flow from Others
173
195
152
225
171
221
170
316
57.59
234
640
709
522
568
652
673
676
Cash Flow from Operations
-91.36
-113
-209
-107
-115
-145
-184
-197
-231
-212
-164
-186
-183
-223
-257
-248
-208
Purchase Of Property, Plant, Equipment
7.16
8.41
15.06
4.14
21.21
5.65
2.51
6.82
4.96
18.99
4.42
3.98
4.48
5.08
3.08
7.02
5.34
Sale Of Property, Plant, Equipment
--
-1.21
-84.78
-16.01
-34.85
-20.61
-19.38
-905
-1.99
-17.52
-27.73
--
-128
-34.72
-14.01
-0.99
-23.84
Purchase Of Business
--
3.85
143
16.10
--
--
137
--
--
38.71
--
2.77
--
--
--
--
0.38
Sale Of Business
--
--
--
-1.31
--
--
-0.19
-17.38
--
-0.89
--
-0.09
-1.61
-0.55
-7.77
-0.07
-0.49
Purchase Of Investment
--
--
0.17
0.16
1.26
0.26
--
--
16.07
--
2.17
--
0.56
0.25
1.85
5.38
-0.07
Sale Of Investment
--
-13.90
-20.36
-29.08
-24.88
-76.95
-40.41
-44.15
-42.40
-43.07
-42.63
-42.35
-33.79
-62.22
-51.82
-52.50
-45.64
Net Intangibles Purchase And Sale
2.48
-9.29
-11.39
2.61
1.78
2.54
1.16
-0.09
4.78
4.24
4.15
8.58
7.27
8.73
7.29
3.56
17.02
Cash From Other Investing Activities
-81.73
-126
-167
-130
-150
-234
-104
-1,157
-249
-212
-224
-213
-334
-307
-318
-286
-255
Cash Flow from Investing
--
--
--
--
0.30
--
--
295
--
--
--
--
--
--
--
--
-- Issuance of Stock
-40.24
-60.19
-66.00
-63.84
-67.97
-104
-3.94
-44.56
-20.49
-16.84
-15.73
-81.99
-63.45
-23.28
-30.04
-20.12
-22.10
Repurchase of Stock
--
--
180
88.45
--
--
--
--
--
--
--
--
--
--
--
--
-- Net Issuance of Preferred Stock
111
771
228
228
254
557
142
697
700
574
524
126
32.96
793
2,216
35.34
43.60
  Issuance of Debt
-166
-796
-326
-237
-209
-410
-130
-17.37
-380
-452
-496
-564
-74.61
-832
-1,338
-516
-346
  Payments of Debt
-54.68
-25.10
-98.57
-9.48
45.65
147
11.49
680
320
123
28.65
-438
-41.65
-39.22
878
-481
-302
Net Issuance of Debt
--
-0.11
-0.32
-0.06
--
-92.71
-82.78
-55.25
-87.48
-87.84
-81.96
-23.82
-70.72
-134
-157
-132
-166
Cash Flow for Dividends
0.60
0.08
-0.03
-88.17
-0.12
92.58
2.71
-0.17
-1.01
-2.30
-1.59
-0.66
-0.25
-0.02
-51.96
-43.67
-47.29
Other Financing
-94.32
-85.33
15.07
-73.10
-22.14
42.54
-72.52
875
211
15.72
-70.64
-545
-176
-197
640
-677
-538
Cash Flow from Financing
-1.13
-4.88
-23.21
-22.99
4.48
4.99
25.46
21.18
56.39
70.15
94.62
447
383
386
467
1,402
736
Beginning Cash Position
-0.14
-0.36
0.35
5.20
0.59
-3.03
1.26
-0.18
-1.39
-13.50
4.35
-6.30
-11.51
-16.12
-31.99
16.21
-41.72
  Effect of Exchange Rate Changes
-3.64
-16.04
0.55
27.35
-0.73
26.61
-5.21
34.23
18.28
24.73
350
-55.38
-0.11
48.30
942
-273
-159
Net Change in Cash
-4.77
-20.92
-22.66
4.36
3.75
31.60
20.26
55.40
74.67
94.87
444
392
383
434
1,409
1,129
577
Ending Cash Position
-91.36
-127
-231
-136
-140
-223
-225
-241
-273
-257
-207
-228
-221
-286
-309
-301
-254
Capital Expenditure
81.18
67.89
-78.39
89.50
31.42
-1.36
-55.10
75.14
-216
-23.23
433
480
301
282
344
372
423
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Financial Satement

Balance Sheet

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
31.04
29.69
32.44
31.82
16.71
53.82
55.67
70.85
93.97
129
470
414
409
570
1,523
1,198
792
  Cash And Cash Equivalents
1.66
4.51
0.87
2.00
0.72
0.56
0.68
37.32
11.09
15.12
0.05
23.06
12.21
19.23
25.17
23.77
1.60
  Marketable Securities
32.70
34.20
33.32
33.82
17.43
54.37
56.35
108
105
144
470
437
421
589
1,548
1,222
794
Cash, Cash Equivalents, Marketable Securities
236
247
490
491
565
593
589
532
501
432
941
424
481
459
426
530
1,005
  Accounts Receivable
236
247
490
491
565
593
589
532
501
432
941
424
481
459
426
530
1,005
Total Receivables
340
--
540
535
470
115
--
585
691
695
--
575
683
914
1,051
1,054
--   Inventories, Raw Materials & Components
--
--
--
--
--
--
--
976
1,246
988
--
750
812
929
1,048
1,180
--   Inventories, Work In Process
428
--
765
677
672
773
--
--
--
--
--
--
--
--
--
--
--   Inventories, Finished Goods
--
916
0.00
--
--
478
1,145
--
-0.00
--
1,649
-0.00
--
--
--
0.00
2,731
  Inventories, Other
768
916
1,305
1,212
1,142
1,366
1,145
1,562
1,937
1,683
1,649
1,325
1,495
1,843
2,099
2,234
2,731
Total Inventories
284
445
299
213
359
620
433
449
746
1,090
318
911
970
1,051
698
678
340
Other Current Assets
1,321
1,642
2,127
1,950
2,084
2,634
2,223
2,651
3,289
3,349
3,378
3,096
3,367
3,942
4,771
4,664
4,870
Total Current Assets
--
--
574
568
512
402
--
--
--
--
--
--
--
--
--
--
--   Land And Improvements
1,264
--
1,371
1,453
1,401
1,389
1,299
1,576
1,774
1,677
1,790
1,978
2,062
2,189
2,393
2,573
--   Machinery, Furniture, Equipment
38.94
--
116
37.95
60.02
59.94
102
162
142
123
151
154
142
114
186
186
--   Construction In Progress
-719
602
--
--
--
0.00
354
457
490
478
509
583
596
692
949
1,123
1,934
  Other Gross PPE
584
602
2,060
2,058
1,972
1,851
1,755
2,194
2,406
2,278
2,449
2,714
2,800
2,995
3,528
3,883
1,934
Gross Property, Plant and Equipment
--
--
-1,238
-1,242
-1,172
-1,011
-929
-1,022
-1,111
-1,055
-1,150
-1,279
-1,362
-1,463
-1,683
-1,844
--   Accumulated Depreciation
584
602
822
817
800
841
826
1,172
1,295
1,223
1,300
1,436
1,438
1,531
1,845
2,039
1,934
Property, Plant and Equipment
322
342
435
462
493
597
544
953
982
925
955
959
1,004
1,049
1,083
1,088
1,097
Intangible Assets
277
--
--
--
--
--
414
788
802
759
784
788
841
878
904
907
--   Goodwill
56.16
63.34
56.67
61.82
60.09
111
102
112
113
108
129
172
94.21
128
149
129
148
Other Long Term Assets
962
1,007
1,313
1,341
1,353
1,549
1,472
2,237
2,391
2,257
2,383
2,567
2,536
2,708
3,077
3,256
3,180
Total Long-Term Assets
2,283
2,650
3,440
3,290
3,437
4,184
3,694
4,888
5,680
5,606
5,762
5,663
5,903
6,650
7,848
7,920
8,050
Total Assets
259
320
825
779
741
843
679
563
665
672
1,157
705
666
646
717
974
1,760
  Accounts Payable
40.59
30.14
30.37
33.72
40.40
89.96
39.54
60.88
64.67
77.74
45.84
97.67
115
114
168
196
148
  Total Tax Payable
122
291
367
209
--
167
-0.00
124
104
160
--
250
160
207
207
219
-0.00
  Other Current Payables
421
641
1,222
1,022
781
1,099
719
748
834
910
1,202
1,053
941
967
1,092
1,389
1,908
Accounts Payable & Accrued Expense
312
50.61
55.10
27.46
182
22.21
157
263
522
701
779
352
314
336
621
200
332
  Short-Term Debt
1.69
--
--
--
--
--
--
0.18
0.12
0.10
--
0.11
0.62
0.62
40.16
44.91
44.22
  Short-Term Capital Lease Obligation
314
50.61
55.10
27.46
182
22.21
157
264
522
701
779
352
315
337
661
245
376
Short-Term Debt & Capital Lease Obligation
119
434
283
160
372
479
413
361
548
708
362
541
923
1,025
852
722
435
Other Current Liabilities
854
1,125
1,561
1,209
1,336
1,600
1,288
1,373
1,904
2,320
2,344
1,946
2,179
2,329
2,605
2,356
2,719
Total Current Liabilities
460
469
574
682
673
878
874
1,472
1,556
1,214
1,187
1,213
1,183
1,568
2,205
2,110
1,905
  Long-Term Debt
1.84
--
--
--
--
--
--
0.49
0.37
--
--
--
--
--
165
245
240
  Long-Term Capital Lease Obligation
462
469
574
682
673
878
874
1,472
1,556
1,214
1,187
1,213
1,183
1,568
2,370
2,355
2,145
Long-Term Debt & Capital Lease Obligation
0.96
0.59
0.58
0.60
0.68
0.58
0.77
0.96
1.06
1.05
1.00
0.72
0.65
0.78
1.17
0.89
0.86
Debt-to-Equity
110
122
124
115
101
61.38
120
143
162
154
182
157
132
189
169
151
133
PensionAndRetirementBenefit
41.13
48.79
96.52
109
72.71
83.76
75.63
79.24
84.40
72.17
66.05
145
95.12
98.61
115
121
129
Other Long-Term Liabilities
614
640
794
905
847
1,023
1,070
1,695
1,802
1,441
1,435
1,515
1,411
1,855
2,655
2,628
2,406
Total Long-Term Liabilities
1,468
1,766
2,355
2,114
2,183
2,623
2,358
3,067
3,706
3,761
3,779
3,461
3,590
4,184
5,260
4,984
5,126
Total Liabilities
353
317
297
245
190
160
129
110
112
105
105
41.45
0.11
0.11
0.12
0.12
0.12
Common Stock
471
564
788
930
1,064
1,400
1,202
1,707
1,856
1,725
1,862
2,146
2,297
2,451
2,586
2,933
3,920
Retained Earnings
-7.62
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Additional Paid-In Capital
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-18.78
Treasury Stock
-5.93
--
--
--
-0.00
--
--
-0.00
0.00
--
--
--
-0.00
--
--
0.00
-980
Other Stockholders Equity
811
881
1,085
1,175
1,254
1,560
1,331
1,817
1,968
1,831
1,967
2,187
2,297
2,452
2,587
2,933
2,922
Total Stockholders Equity
3.44
3.21
0.36
0.55
0.85
-0.35
4.82
4.04
5.59
14.74
15.37
15.46
15.91
14.63
1.95
2.58
2.36
Minority Interest
815
884
1,085
1,176
1,254
1,560
1,336
1,821
1,974
1,845
1,983
2,203
2,313
2,466
2,588
2,936
2,924
Total Equity
0.36
0.33
0.32
0.36
0.37
0.37
0.36
0.37
0.35
0.33
0.34
0.39
0.39
0.37
0.33
0.37
0.36
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Valuation Ratios

Valuation Ratios

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
15.58
36.40
18.32
13.09
14.49
15.01
33.00
20.60
24.58
24.63
32.06
27.12
26.77
30.11
34.81
33.42
28.10
PE Ratio
15.07
21.81
18.00
13.09
15.37
15.01
19.49
20.00
24.58
24.63
32.06
27.12
26.77
30.11
34.81
33.42
28.10
PE Ratio without NRI
--
--
--
--
--
--
--
--
--
--
--
--
--
23.01
25.19
29.17
25.70
Price-to-Owner-Earnings
--
--
--
--
--
--
--
--
--
--
--
--
--
3.50
4.11
4.58
4.19
PB Ratio
--
--
--
--
--
--
--
--
--
--
--
--
--
6.11
7.07
7.28
6.72
Price-to-Tangible-Book
28.51
55.30
--
31.07
112
--
--
66.15
--
--
16.55
16.41
32.04
40.37
35.18
37.69
29.37
Price-to-Free-Cash-Flow
13.41
19.24
22.73
12.34
20.48
22.97
28.52
15.71
118
25.78
11.19
11.12
18.49
20.06
18.53
20.84
18.31
Price-to-Operating-Cash-Flow
0.77
1.10
0.78
0.61
0.80
0.89
0.97
0.94
1.06
0.94
1.04
1.12
1.37
1.53
1.60
1.78
1.46
PS Ratio
12.15
1.42
2.36
1.71
2.20
14.16
--
--
43.12
10.95
12.98
5.64
3.38
3.31
4.06
4.23
3.56
PEG Ratio
1.01
1.24
0.91
0.76
0.99
1.03
1.16
1.29
1.36
1.21
1.26
1.27
1.52
1.69
1.78
1.95
1.66
EV-to-Revenue
9.09
10.86
9.79
7.98
10.15
10.08
12.87
14.34
15.20
14.33
16.16
14.46
14.47
16.06
17.35
17.85
15.52
EV-to-EBITDA
12.52
14.39
12.77
10.33
13.12
12.63
15.97
18.31
19.48
18.85
22.03
19.29
19.26
20.82
25.69
25.24
21.69
EV-to-EBIT
7.99
6.95
7.83
9.68
7.62
7.92
6.26
5.46
5.13
5.31
4.54
5.18
5.19
4.80
3.89
3.96
4.62
Earnings Yield (Joel Greenblatt) %
2.54
17.05
9.29
10.16
8.49
2.00
-0.81
-0.70
0.45
1.77
2.99
6.30
9.73
10.96
11.21
10.64
10.73
Forward Rate of Return (Yacktman) %
--
--
--
--
--
25.02
27.60
25.12
30.32
26.76
31.61
32.22
37.67
41.88
40.94
45.62
40.33
Shiller PE Ratio
--
--
--
--
--
--
--
--
--
--
--
--
--
--
1.38
1.02
1.43
Dividend Yield %

Valuation and Quality

Aug06
Aug07
Aug08
Aug09
Aug10
Aug11
Aug12
Aug13
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
TTM Fiscal Period
--
--
--
--
--
--
--
--
--
--
--
--
--
8,572
10,623
13,428
11,636
Market Cap
--
--
--
--
--
--
--
--
--
--
--
--
--
9,902
12,108
14,810
13,682
Enterprise Value
--
--
--
--
--
--
--
--
--
--
--
--
--
15.65
19.40
24.50
21.23
Month End Stock Price
-2.78
-3.36
-4.49
-4.03
-4.19
-4.98
-4.46
-5.40
-6.58
-6.63
-6.07
-5.55
-5.81
-6.59
-6.78
-6.87
-7.91
Net Cash per Share
-0.29
-0.24
-0.44
-0.32
-0.19
0.02
-0.27
-0.77
-0.77
-0.78
-0.76
-0.69
-0.44
-0.47
-0.90
-0.59
-0.47
Net Current Asset Value
-1.70
-2.11
-2.52
-2.14
-2.27
-2.79
-2.50
-3.25
-4.13
-4.50
-3.27
-3.76
-3.79
-4.28
-4.28
-4.11
-4.04
Net-Net Working Capital
--
--
--
--
--
--
--
--
--
--
--
--
--
5.64
7.28
9.71
-- Intrinsic Value: Projected FCF
--
--
--
--
--
--
--
--
--
--
--
--
--
10.42
12.92
15.76
15.45
Median PS Value
--
--
--
--
--
--
--
--
--
--
--
--
--
4.73
4.78
5.79
5.68
Peter Lynch Fair Value
2.51
2.79
3.24
3.57
3.82
5.24
4.05
4.09
4.51
4.07
4.11
5.15
5.89
6.29
6.24
7.61
7.73
Graham Number
--
--
--
--
--
--
--
--
--
--
--
--
--
3.63
4.41
5.36
5.25
Earnings Power Value (EPV)
3.15
3.46
2.99
3.18
3.24
3.66
3.66
3.15
3.24
3.00
3.22
3.65
3.89
3.86
3.35
3.80
3.75
Altman Z-Score
6.00
6.00
5.00
5.00
4.00
4.00
5.00
6.00
3.00
4.00
6.00
6.00
7.00
5.00
5.00
8.00
8.00
Piotroski F-Score
-2.62
-2.73
-1.73
-2.43
-2.24
-2.68
-2.23
-2.62
-2.39
-2.52
-1.76
-3.33
-2.61
-2.66
-2.85
-2.40
-2.40
Beneish M-Score
0.72
0.60
0.63
0.54
0.64
0.70
0.55
0.93
0.81
0.64
0.62
0.58
0.60
0.64
0.61
0.55
0.59
Scaled Net Operating Assets
2.53
1.26
5.94
3.56
6.44
5.75
2.19
22.13
8.26
3.97
-3.34
-3.62
2.93
1.76
0.17
0.41
0.22
Sloan Ratio %
1.55
1.46
1.36
1.61
1.56
1.65
1.73
1.93
1.73
1.44
1.44
1.59
1.55
1.69
1.83
1.98
1.79
Current Ratio
0.65
0.65
0.53
0.61
0.71
0.79
0.84
0.79
0.71
0.72
0.74
0.91
0.86
0.90
1.03
1.03
0.79
Quick Ratio
0.04
0.03
0.02
0.03
0.01
0.03
0.04
0.08
0.06
0.06
0.20
0.22
0.19
0.25
0.59
0.52
0.29
Cash Ratio
3.68
2.85
3.35
3.60
4.67
4.97
4.82
4.32
3.77
3.63
3.62
4.13
6.14
4.31
5.16
6.33
5.70
Interest Coverage
--
--
--
--
--
--
--
--
--
--
--
--
--
15.65
21.55
24.94
27.65
Highest Stock Price
--
--
--
--
--
--
--
--
--
--
--
--
--
11.76
16.93
19.87
19.35
Lowest Stock Price
--
--
--
--
0.09
0.10
-0.20
-6.09
0.11
0.02
--
0.01
0.03
-0.03
0.03
-0.09
-0.09
Shares Buyback Ratio %
--
--
--
--
--
--
--
--
--
--
--
--
--
0.27
0.28
0.15
0.19
Buyback Yield %
-7.26
13.76
30.04
2.88
-4.80
31.16
-12.79
4.36
16.57
0.09
6.73
2.38
-0.31
6.33
1.61
4.07
15.58
YoY Rev. per Sh. Growth
201
-30.42
83.42
12.33
13.90
40.04
-56.73
62.19
9.59
-11.53
-8.76
29.80
23.91
5.21
-8.15
21.08
26.62
YoY EPS Growth
43.65
16.90
5.97
4.76
-1.67
37.18
-23.03
4.03
15.49
-5.46
-1.52
15.74
18.84
7.03
-0.98
10.52
17.77
YoY EBITDA Growth
1.24
15.31
7.62
7.66
6.98
1.06
-1.06
-0.91
0.57
2.25
2.47
4.81
7.92
9.11
8.57
7.90
7.90
5-Year EBITDA Growth Rate
515
516
516
516
517
519
517
523
549
549
548
548
548
548
548
548
548
Shares Outstanding (Basic Average)
517
517
517
517
517
516
517
549
548
548
548
548
548
548
548
548
548
Shares Outstanding (EOP)
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-0.08
Beta
08/31/08
01/28/10
01/28/10
11/02/10
11/10/11
11/12/12
11/07/13
11/03/14
11/04/15
11/03/16
11/08/17
11/07/18
11/06/19
11/11/20
11/10/21
  Filing Date
08/31/08
01/28/10
11/02/10
11/10/11
11/12/12
11/07/13
11/03/14
11/04/15
11/03/16
11/08/17
11/07/18
11/06/19
11/11/20
11/10/21
11/10/21
  Restated Filing Date
11/02/16
11/08/17
11/07/18
11/06/19
11/11/20
11/10/21
  Earnings Release Date
--
--
7,281
7,281
7,205
5,972
6,100
8,658
9,319
9,430
9,898
10,528
11,500
12,257
12,335
12,783
13,289
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Barry Callebaut AG (OTCPK:BRRLY)
www.gurufocus.com/stock/OTCPK:BRRLY

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.