UNILEVER PLC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UNILEVER PLC files with the SEC in its annual reports.

In EUR millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	52,713	53,715	50,982	51,980	50,724	52,444	60,073	51,680	52,479	50,503
Cost of revenue	30,229	30,484	28,703	29,102	28,684	30,259	35,906	29,180	27,976	26,794
Gross profit	22,484	23,231	22,279	22,878	22,040	22,185	24,167	22,500	24,503	23,709
Research and development					800	847	908	853	892	836
Selling, general and administrative	14,683	13,731	12,816	12,931	12,673	12,549	14,484	13,421	14,305	13,624
Operating income	7,801	8,957	12,639	8,708	8,303	8,702	10,755	8,998	8,829	9,037
Interest expense	584	683	718	821	728	491	818	922	994	1,024
Interest income	115	157	135	224	232	147	281	393	391	398
Pre-tax income	7,469	8,126	12,360	8,289	7,996	8,556	10,337	8,627	8,371	8,693
Income tax	1,922	1,670	2,572	2,263	1,923	1,935	2,068	1,990	2,332	2,481
Income from continuing operations								6,637	6,039	6,213
Net income to minority interests	363	433	419	401	492	572	627	653	625	542
Net income	5,184	6,023	9,369	5,625	5,581	6,049	7,642	6,487	5,744	9,469
EBITDA	9,265	10,982	14,647	10,672	10,321	10,448	12,480	10,145	10,066	10,347
EPS, basic	2.07	2.43	3.94	2.43	2.40	2.63	3.39	2.90	2.59	4.33
EPS, diluted	2.05	2.42	3.93	2.42	2.39	2.62	3.38	2.89	2.58	4.32

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3,382	3,317	3,230	4,185	5,548	3,415	4,326	4,159	6,136	3,941
Receivables	5,102	5,222	6,482	6,695	4,939	5,422	7,056	5,775	6,011	7,346
Inventory	4,278	3,962	4,301	4,164	4,462	4,683	5,931	5,119	5,177	4,043
Total current assets	13,884	16,983	15,478	16,430	16,157	17,401	19,157	17,902	19,194	17,066
Property, plant and equipment	11,673	10,411	12,088	12,062	10,558	10,347	9,416	9,377	10,259	7,826
Lease right-of-use assets							1,354	1,330	1,410	1,166
Goodwill	17,624	16,881	17,341	18,067	18,942	20,330	21,609	21,109	22,311	17,709
Intangible assets	9,809	11,520	12,152	12,962	15,999	18,261	18,880	18,357	18,590	17,055
Total assets	56,429	60,285	61,111	64,806	67,659	75,095	77,821	75,266	79,750	70,471
Accounts payable	13,871	13,426	14,457	14,768	14,132	14,861	18,023	16,857	16,690	16,939
Total current liabilities	20,556	23,177	20,150	20,978	20,592	24,778	25,427	23,507	25,234	21,662
Lease liabilities			1,591	1,536	1,391	1,284	1,068	1,061	1,164	1,049
Total liabilities	39,449	45,898	48,994	50,920	50,004	55,349	56,120	54,502	57,195	52,884
Total debt							26,512	26,692	28,648	26,038
Paid-in capital	134	130	129	134
Retained earnings	23,179	26,648	26,022	18,212
Shareholders' equity	16,354	13,629	11,397	13,192	15,266	17,107	19,021	18,102	19,990	15,530
Minority interests	626	758	720	694	2,389	2,639	2,680	2,662	2,565	2,057
Total equity	16,773	14,198	12,117	13,886	17,655	19,746	21,701	20,764	22,555	17,587
Total liabilities and equity	56,429	60,285	61,111	64,806	67,659	75,095	77,821	75,266	79,750	70,471

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	5,547	6,456	9,788	6,026	6,073	6,621	8,269	7,140	6,369	10,011
Depreciation and amortization	1,464	2,025	2,008	1,964	2,018	1,746	1,725	1,147	1,237	1,310
Cash from operations	7,047	7,879	7,318	8,109	9,058	7,972	7,282	9,426	9,519	8,350
Capital expenditures	-1,804	-1,509	-1,329	-1,316	-863	-1,108	-1,456	-1,194	-1,381	-1,417
Cash from investing	-3,188	-5,879	4,644	-2,237	-1,481	-3,246	2,453	-2,294	-625	-3,118
Debt issued	6,761	8,851	10,595	5,911	3,117	4,748	7,776	4,418	4,234	4,278
Debt repaid	-5,213	-2,604	-6,594	-4,912	-3,577	-3,550	-8,440	-3,470	-3,846	-3,547
Dividends paid	-3,600	-3,916	-4,081	-4,223	-4,300	-4,458	-4,356	-4,327	-4,320	-4,453
Cash from financing	-3,073	-2,020	-12,113	-4,667	-5,804	-7,099	-8,890	-7,193	-6,941	-6,814
Exchange rate effect	284	-9	72	-179	-414	285	-7	-119	-48	-498
Net change in cash	786	-20	-151	1,205	1,773
Free cash flow	5,243	6,370	5,989	6,793	8,195	6,864	5,826	8,232	8,138	6,933
Income taxes paid	2,251	2,164	2,294	2,532	1,875	2,333	2,807	1,933	2,452	2,720

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	46.9%	Gross profit / revenue.
Operating margin	17.9%	Operating income / revenue.
EBITDA margin	20.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.2%	Pre-tax income / revenue.
Net margin	18.7%	Net income / revenue.
FCF margin	13.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.5%	Cash from operations / revenue.
Effective tax rate	28.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	53.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.6%	Net income / average total assets.
Return on invested capital (ROIC)	16.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	1.7%	Research and development expense / revenue.
SG&A / revenue	27.0%	Selling, general and administrative expense / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	2.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-0.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-3.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-0.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	1.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	2.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-5.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	2.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-6.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	0.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	64.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	67.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	8.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-12.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-1.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-14.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	6.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-3.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-22.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-6.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-11.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.79x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.68x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	36.9%	Total debt / total assets.
Liabilities / assets	75.0%	Total liabilities / total assets.
Net debt	€22.10B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.14x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.83x	Operating income / interest expense.
Working capital	-€4.60B	Current assets - current liabilities.
Goodwill and intangibles / assets	49.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-€19.23B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.67x	Revenue / average total assets.
Fixed asset turnover	5.59x	Revenue / average property, plant and equipment.
Inventory turnover	5.81x	Cost of revenue / average inventory.
Days inventory	63 days	365 x average inventory / cost of revenue.
Receivables turnover	7.56x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	229 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-118 days	Days inventory + days sales outstanding - days payables.
FCF conversion	73.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	17.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	€4.32	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	€4.33	Net income per basic share, as reported (split-adjusted).
Payout ratio	47.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	64.2%	Dividends paid / free cash flow, when free cash flow is positive.

What was UNILEVER PLC's revenue in fiscal 2025?

UNILEVER PLC reported revenue of €50.50B for fiscal 2025, 3.8% lower than the year before.

Was UNILEVER PLC profitable in fiscal 2025?

Yes. Net income was €9.47B, a net margin of 18.7%.

How much free cash flow did UNILEVER PLC generate in fiscal 2025?

Cash from operations of €8.35B minus capital expenditures of €1.42B left free cash flow of €6.93B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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