BN FINANCIAL STATEMENTS

Danone SA — balance sheet, income statement and cash flow trends

BNDanone SA

🇫🇷 France · PA · Consumer Defensive · Packaged Foods

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue27.3 B €-1.2%

Gross Profit13.8 B €+5.5%

Operating Income2.9 B €+44.0%

EBITDA4.4 B €-7.7%

Net Income1.8 B €+107.0%

Peer Comparison· Packaged Foods

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
BN	-0.3%	50.6%	16.1%	6.7%
KHC	-1.7%	33.3%	-14.0%	-23.0%
GIS	-5.4%	33.6%	1.6%	-0.5%
MKC	9.5%	38.6%	18.6%	22.0%
HRL	2.5%	15.7%	8.2%	3.8%
SJM	3.7%	33.5%	11.3%	-1.5%
Industry median	3.5%	20.5%	10.1%	1.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity16.9 B €38%
Current Liabilities14.6 B €32%
Long-term Liabilities13.5 B €30%

Key Figures

YoY change

Total Assets45.1 B €+1.3%

Total Liabilities28.1 B €-0.6%

Total Equity16.9 B €+4.6%

Cash & ST Investments6.6 B €+9.5%

Total Debt15.1 B €-3.1%

Net Debt13.1 B €-0.8%

Peer Comparison· Packaged Foods

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
BN	0.90	89.4%	1.95	37.5%
KHC	1.20	50.4%	-4.82	51.1%
GIS	0.68	183.7%	43.48	24.5%
MKC	0.78	70.5%	3.35	42.5%
HRL	1.94	35.9%	1.99	59.6%
SJM	0.78	127.9%	6.85	34.2%
Industry median	1.55	48.1%	1.99	49.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow3.8 B €+9.8%

Capital Expenditures1.1 B €+24.6%

Free Cash Flow2.7 B €+5.0%

Dividends Paid0 €-100.0%

Peer Comparison· Packaged Foods

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
BN	13.9%	10.0%	3.9%	207.2%
KHC	19.0%	15.8%	3.2%	-82.4%
GIS	11.8%	8.8%	2.9%	-2,472.8%
MKC	16.7%	15.7%	3.3%	75.6%
HRL	8.2%	5.7%	2.6%	215.9%
SJM	16.3%	12.8%	3.5%	-1,062.4%
Industry median	8.3%	5.8%	3.5%	79.8%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 8, 26. This content is for informational purposes only and is not investment advice.