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贵州茅台 — Financial Statements
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line ItemFY 2024Dec 31, 2024FY 2023Dec 31, 2023FY 2022Dec 31, 2022FY 2021Dec 31, 2021FY 2020Dec 31, 2020
+Revenue 170.9B 147.7B 124.1B 106.2B 94.9B
Revenue Growth % 15.7% 19.0% 16.9% 11.9% --
Total Revenue 174.1B 150.6B 127.6B 109.5B 98.0B
Cost Of Revenue 13.8B 11.9B 10.1B 9.0B 8.2B
+Gross Profit 157.1B 135.8B 114.0B 97.2B 86.8B
Gross Margin % 91.9% 92.0% 91.9% 91.5% 91.4%
Total Operating Cost 54.5B 46.9B 39.8B 34.8B 31.4B
Selling Expenses 5.6B 4.6B 3.3B 2.7B 2.5B
Admin Expenses 9.3B 9.7B 9.0B 8.4B 6.8B
Rd Expenses 218.0M 157.0M 135.0M 61.9M 50.4M
Finance Expenses -1.5B -1.8B -1.4B -935.0M -235.0M
+Operating Income 119.7B 103.7B 87.9B 74.8B 66.6B
Operating Margin % 70.0% 70.2% 70.8% 70.4% 70.2%
Non Operating Income 70.9M 86.8M 70.9M 69.0M 11.1M
Non Operating Expenses 121.0M 133.0M 249.0M 292.0M 449.0M
Investment Income 9.1M 34.0M 63.8M 58.3M 305,600
Fair Value Change Income 61.0M 3.2M -- -2.2M 4.9M
Asset Disposal Income 388,900 -479,700 213,200 -- --
Asset Impairment Loss -- -- -- -- --
Other Income 21.2M 34.6M 24.5M 20.5M 13.1M
Income Before Tax 119.6B 103.7B 87.7B 74.5B 66.2B
Income Tax 30.3B 26.1B 22.3B 18.8B 16.7B
+Net Income 89.3B 77.5B 65.4B 55.7B 49.5B
Net Margin % 52.3% 52.5% 52.7% 52.5% 52.2%
Net Income Attributable 86.2B 74.7B 62.7B 52.5B 46.7B
Minority Interest 3.1B 2.8B 2.7B 3.3B 2.8B
Eps Basic 68.64 59.49 49.93 41.76 37.17
Eps Diluted 68.64 59.49 49.93 41.76 37.17
Eps Ttm 68.64 59.49 49.93 41.76 --
Gross Margin 0.92 0.92 0.92 0.92 --
Net Margin 0.52 0.52 0.53 0.52 --
Liquid Shares 1.3B 1.3B 1.3B 1.3B --
Roe Avg 0.38 0.36 0.32 0.30 --
Total Shares 1.3B 1.3B 1.3B 1.3B --
Line ItemFY 2024Dec 31, 2024FY 2023Dec 31, 2023FY 2022Dec 31, 2022FY 2021Dec 31, 2021FY 2020Dec 31, 2020
Cash And Equivalents 59.3B 69.1B 58.3B 51.8B 36.1B
Trading Financial Assets 249.0M 401.0M -- -- --
Accounts Receivable 19.0M 60.4M 20.9M -- --
Notes Receivable 2.0B 13.9M 105.0M -- 1.5B
Notes And Accounts Receivable 2.0B 74.3M 126.0M -- 1.5B
Prepayments 27.0M 34.6M 897.0M 389.0M 898.0M
Inventory 54.3B 46.4B 38.8B 33.4B 28.9B
Total Current Assets 251.7B 225.2B 216.6B 220.8B 185.7B
Long Term Equity Investment -- -- -- -- --
Fixed Assets -- 19.9B 19.7B 17.5B 16.2B
Fixed Assets Total 21.9B 19.9B 19.7B 17.5B 16.2B
Construction In Progress -- 2.1B 2.2B 2.3B 2.4B
Construction In Progress Total 2.1B 2.1B 2.2B 2.3B 2.4B
Intangible Assets 8.8B 8.6B 7.1B 6.2B 4.8B
Long Term Deferred Expenses 152.0M 160.0M 146.0M 139.0M 148.0M
Total Non Current Assets 47.2B 47.5B 37.9B 34.4B 27.7B
Total Assets 298.9B 272.7B 254.5B 255.2B 213.4B
Short Term Borrowings -- -- -- -- --
Accounts Payable 3.5B 3.1B 2.4B 2.0B 1.3B
Advance Receipts -- -- -- -- --
Contract Liabilities 9.6B 14.1B 15.5B 12.7B 13.3B
Total Current Liabilities 56.5B 48.7B 49.1B 57.9B 45.7B
Long Term Borrowings -- -- -- -- --
Total Non Current Liabilities 417.0M 346.0M 497.0M 296.0M 1.5M
Total Liabilities 56.9B 49.0B 49.6B 58.2B 45.7B
Paid In Capital 1.3B 1.3B 1.3B 1.3B 1.3B
Capital Reserve 1.4B 1.4B 1.4B 1.4B 1.4B
Surplus Reserve 46.6B 39.0B 32.5B 25.1B 20.2B
Retained Earnings 182.8B 173.0B 161.3B 160.7B 137.6B
Minority Equity 8.9B 8.0B 7.5B 7.4B 6.4B
Equity Attributable 233.1B 215.7B 197.5B 189.5B 161.3B
Total Equity 242.0B 223.7B 204.9B 197.0B 167.7B
Current Ratio 4.45 4.62 4.41 3.81 --
Line ItemFY 2024Dec 31, 2024FY 2023Dec 31, 2023FY 2022Dec 31, 2022FY 2021Dec 31, 2021FY 2020Dec 31, 2020
Cash From Sales 182.6B 163.7B 140.7B 119.3B 107.0B
Tax Refunds Received -- 1.5M 33.2M -- --
Total Operating Cash Inflow 200.1B 168.3B 137.8B 131.6B 113.5B
Cash Paid For Goods 10.8B 11.0B 8.4B 7.7B 7.2B
Cash Paid To Employees 15.4B 13.8B 11.8B 10.1B 8.2B
Taxes Paid 77.1B 66.7B 62.0B 44.6B 41.6B
Total Operating Cash Outflow 107.6B 101.7B 101.1B 67.6B 61.8B
Operating Cash Flow 92.5B 66.6B 36.7B 64.0B 51.7B
Total Investing Cash Inflow 8.6B 7.7B 11.2M 19.4M 322.0M
Total Investing Cash Outflow 10.4B 17.4B 5.5B 5.6B 2.1B
Investing Cash Flow -1.8B -9.7B -5.5B -5.6B -1.8B
Cash From Borrowings -- -- -- -- --
Dividends And Interest Paid 71.0B 58.8B 57.4B 26.5B 24.1B
Debt Repayments -- -- -- -- --
Total Financing Cash Inflow -- -- -- -- --
Total Financing Cash Outflow 71.1B 58.9B 57.4B 26.6B 24.1B
Financing Cash Flow -71.1B -58.9B -57.4B -26.6B -24.1B
Net Change In Cash 19.6B -2.0B -26.3B 31.9B 25.7B
Ending Cash Balance 170.0B 150.4B 152.4B 178.6B 146.7B
Capex 4.7B 2.6B 5.3B 3.4B 2.1B
Cfo To Net Income 1.04 0.86 0.56 1.15 --
Cfo To Revenue 0.54 0.45 0.30 0.60 --
Current Asset To Asset 0.84 0.83 0.85 0.87 --
Non Current Asset To Asset 0.16 0.17 0.15 0.13 --
Tangible Asset To Asset 0.73 0.74 0.73 0.71 --
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