(RMS) Hermes International SCA - PA
Sector: Consumer Cyclical | Industry: Luxury Goods | Exchange: PA (France) | Market Cap: 169.675m EUR | Total Return: -29.6% in 12m
Avg Turnover: 127M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Hermès International SCA is a French luxury goods manufacturer and retailer specializing in leather goods, saddlery, ready-to-wear, and accessories. The company maintains a vertically integrated business model, controlling internal processes from the tanning of precious leathers to the final production of silk textiles and metal hardware. Its global distribution network spans proprietary boutiques and specialized retail channels across Europe, Asia, and the Americas.
The luxury sector typically benefits from high pricing power and brand equity, which allows firms like Hermès to maintain elevated margins even during periods of economic volatility. Unlike many competitors, the company operates as a Société en commandite par actions (partnership limited by shares), a structure that facilitates long-term family control and strategic stability. Investors looking for deeper fundamental insights into this capital structure should consult ValueRay for further analysis. Founded in 1837, the firm remains a subsidiary of H51 SAS and continues to anchor its operations in Paris.
- Leather goods and saddlery production capacity expansion drives revenue growth
- Ultra-high-net-worth demand resilience maintains industry-leading operating margins
- Asian market exposure fluctuates with Chinese consumer sentiment and traffic
- Vertical integration of supply chain secures raw material quality and margins
| Net Income: 4.52b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.36 > 0.02 and ΔFCF/TA 17.22 > 1.0 |
| NWC/Revenue: 79.52% < 20% (prev 78.09%; Δ 1.43% < -1%) |
| CFO/TA 0.44 > 3% & CFO 10.6b > Net Income 4.52b |
| Net Debt (-9.89b) to EBITDA (7.50b): -1.32 < 3 |
| Current Ratio: 4.99 > 1.5 & < 3 |
| Outstanding Shares: last quarter (105.0m) vs 12m ago 0.12% < -2% |
| Gross Margin: 71.11% > 18% (prev 70.26%; Δ 0.85% > 0.5%) |
| Asset Turnover: 67.51% > 50% (prev 65.72%; Δ 1.79% > 0%) |
| Interest Coverage Ratio: 119.4 > 6 (EBIT TTM 6.57b / Interest Expense TTM 55.0m) |
| A: 0.52 (Total Current Assets 15.9b - Total Current Liabilities 3.19b) / Total Assets 24.3b |
| B: 0.19 (Retained Earnings 4.52b / Total Assets 24.3b) |
| C: 0.28 (EBIT TTM 6.57b / Avg Total Assets 23.7b) |
| D: 3.44 (Book Value of Equity 18.8b / Total Liabilities 5.47b) |
| Altman-Z'' = 9.52 = AAA |
| DSRI: 1.65 (Receivables 833.0m/478.0m, Revenue 16.0b/15.2b) |
| GMI: 0.99 (GM 70.26% / 71.11%) |
| AQI: 0.98 (AQ_t 0.12 / AQ_t-1 0.12) |
| SGI: 1.05 (Revenue 16.0b / 15.2b) |
| TATA: -0.25 (NI 4.52b - CFO 10.6b) / TA 24.3b) |
| Beneish M = -2.50 (Cap -4..+1) = A |
As of June 11, 2026, the stock is trading at EUR 1635.50 with a total of 110,052 shares traded.
Over the past week, the price has changed by +4.57%,
over one month by +1.81%,
over three months by -15.39% and
over the past year by -29.61%.
Hermes International SCA has no consensus analysts rating.
P/E Trailing = 37.59
P/E Forward = 36.4964
P/S = 10.6034
P/B = 9.0051
P/EG = 3.725
Revenue TTM = 16.0b EUR
EBIT TTM = 6.57b EUR
EBITDA TTM = 7.50b EUR
Long Term Debt = 34.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 325.0m EUR (from shortTermDebt, last quarter)
Debt = 2.35b EUR (from shortLongTermDebtTotal, last quarter) (leases 2.31b already included)
Net Debt = -9.89b EUR (calculated: Debt 2.35b - CCE 12.2b)
Enterprise Value = 160b EUR (170b + Debt 2.35b - CCE 12.2b)
Interest Coverage Ratio = 119.4 (Ebit TTM 6.57b / Interest Expense TTM 55.0m)
EV/FCF = 18.48x (Enterprise Value 160b / FCF TTM 8.65b)
FCF Yield = 5.41% (FCF TTM 8.65b / Enterprise Value 160b)
FCF Margin = 54.04% (FCF TTM 8.65b / Revenue TTM 16.0b)
Net Margin = 28.27% (Net Income TTM 4.52b / Revenue TTM 16.0b)
Gross Margin = 71.11% ((Revenue TTM 16.0b - Cost of Revenue TTM 4.62b) / Revenue TTM)
Gross Margin QoQ = 71.55% (prev 66.27%)
Tobins Q-Ratio = 6.57 (Enterprise Value 160b / Total Assets 24.3b)
Interest Expense / Debt = 2.34% (Interest Expense 55.0m / Debt 2.35b)
Taxrate = 31.11% (1.03b / 3.32b)
NOPAT = 4.53b (EBIT 6.57b * (1 - 31.11%))
Current Ratio = 4.99 (Total Current Assets 15.9b / Total Current Liabilities 3.19b)
Debt / Equity = 0.12 (Debt 2.35b / totalStockholderEquity, last quarter 18.8b)
Debt / EBITDA = -1.32 (Net Debt -9.89b / EBITDA 7.50b)
Debt / FCF = -1.14 (Net Debt -9.89b / FCF TTM 8.65b)
Total Stockholder Equity = 17.0b (last 4 quarters mean from totalStockholderEquity)
RoA = 19.09% (Net Income 4.52b / Total Assets 24.3b)
RoE = 26.68% (Net Income TTM 4.52b / Total Stockholder Equity 17.0b)
RoCE = 38.66% (EBIT 6.57b / Capital Employed (Equity 17.0b + L.T.Debt 34.0m))
RoIC = 21.90% (NOPAT 4.53b / Invested Capital 20.7b)
WACC = 7.51% (E(170b)/V(172b) * Re(7.59%) + D(2.35b)/V(172b) * Rd(2.34%) * (1-Tc(0.31)))
Discount Rate = 7.59% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 27.60 | Cagr: 0.02%
[DCF] Terminal Value 77.97% ; FCFF base≈6.88b ; Y1≈7.89b ; Y5≈11.6b
[DCF] Fair Price = 1.76k (EV 175b - Net Debt -9.89b = Equity 185b / Shares 104.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -54.88 | EPS CAGR: -16.72% | SUE: 0.0 | # QB: 0
Revenue Correlation: 98.73 | Revenue CAGR: 9.82% | SUE: 0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=44.63 | Chg30d=-0.90% | Revisions=-67% | GrowthEPS=+3.6% | GrowthRev=+5.1%
EPS next Year (2027-12-31): EPS=51.61 | Chg30d=-0.86% | Revisions=-68% | GrowthEPS=+15.7% | GrowthRev=+9.4%
[Analyst] Revisions Ratio: -68%