Is Unilever financially healthy?

On 30 June 2026 Unilever held 5.87B EUR in cash and short-term investments against total debt of 32.10B EUR. Its current ratio is 0.74: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 7.24B EUR of free cash flow.

Unilever's revenue shrank 0.1% a year over its last five fiscal years, from 50.72B EUR in fiscal year 2020 to 50.50B EUR in fiscal year 2025. Over the last twelve months it was down 23.3% on the twelve months before.

Where can I find Unilever's annual report (20-F)?

Unilever, a company based outside the US, files its annual report (Form 20-F) and its interim reports (Form 6-K) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Unilever
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Arincen ScoreBeta63/100

63/100B

66.000

USD

-1.72

(-2.54%)

Pre Open

Last updated: 9 Nov, 06:16 GMT-5 · Delayed 15 min

Fair value71.93Plus-8%47Price 66.0096

H2 FY2026 · Earnings report

EPS estimate 1.84Revenue estimate 29.76B

H2 FY2026 · Earnings report

Thursday 11 February

EPS estimate 1.84Revenue estimate 29.76B

Fair value71.93Plus-8%47Price 66.0096

H2 FY2026 · Earnings report

EPS estimate 1.84Revenue estimate 29.76B

H2 FY2026 · Earnings report

Thursday 11 February

EPS estimate 1.84Revenue estimate 29.76B

Overview Financials Forecast Earnings Dividends Company

Unilever financials

Yes. Unilever earned 5.88B EUR of net income over the last twelve months, 12.8% of its revenue. It made a profit in 41 of its 41 fiscal years since 1985.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 45.85B EUR
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 5.88B EUR
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 7.24B EUR
Cash and short-term investments: 5.87B EUR
Total debt: 32.10B EUR
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 16.19B EUR

Cash, debt and equity as of 30 Jun 2026.

Unilever earnings

Next earnings · H2 FY2026

11 Feb 2027

EPS estimate

1.84 USD

Revenue estimate

29.76B USD

Last quarter · H1 FY2026

EPS1.83Missed -0.5%Revenue29.14BMissed -0.9%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
H2 FY2026	11 Feb 2027	1.84	—	—	+34.31%	29.76B	—	—	+0.17%
H1 FY2026	28 Jul 2026	1.84	1.83	-0.54%	+9.58%	29.39B	29.14B	-0.85%	-17.86%
H2 FY2025	12 Feb 2026	1.75	1.37	-21.71%	+62.13%	31.39B	29.71B	-5.37%	-3.22%
H1 FY2025	31 Jul 2025	1.83	1.67	-8.74%	+5.70%	34.49B	35.47B	+2.86%	+6.02%
H2 FY2024	13 Feb 2025	1.53	0.85	-44.77%	-33.98%	31.63B	30.70B	-2.94%	-4.33%
H1 FY2024	25 Jul 2024	1.67	1.58	-5.39%	+3.27%	33.81B	33.46B	-1.04%	+0.80%
H2 FY2023	8 Feb 2024	1.41	1.28	-9.22%	-36.00%	30.05B	32.09B	+6.78%	-2.17%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2027	3.74	—	—	+6.40%	59.81B	—	—	+5.01%
FY2026	3.51	—	—	+15.61%	56.95B	—	—	-12.62%
FY2025	3.55	3.04	-14.40%	+25.36%	63.92B	65.18B	+1.97%	+1.60%
FY2024	3.27	2.43	-25.84%	-45.63%	63.14B	64.15B	+1.61%	-35.12%
FY2023	3.05	4.46	+46.26%	+29.28%	64.38B	98.89B	+53.59%	+57.42%
FY2022	2.92	3.45	+18.19%	+15.77%	63.41B	62.82B	-0.93%	+2.96%

Unilever growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 45.85B EUR
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 5.88B EUR
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 100.33%
Operating margin: 19.76%
Net margin: 12.83%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	50.50B	-16.88%	9.47B	+64.85%	100.00%	17.89%	18.75%	11.04B	-11.59%
FY2024	60.76B	+1.94%	5.74B	-11.45%	100.00%	15.47%	9.45%	12.49B	+6.87%
FY2023	59.60B	-0.78%	6.49B	-15.11%	42.24%	16.37%	10.88%	11.68B	+3.91%
FY2022	60.07B	+14.55%	7.64B	+26.33%	40.23%	17.90%	12.72%	11.24B	-1.22%
FY2021	52.44B	+3.39%	6.05B	+8.39%	42.30%	16.59%	11.53%	11.38B	+0.06%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
H1 FY2026	25.62B	3.32B	100.00%	19.06%	12.94%
H2 FY2025	20.23B	2.56B	100.75%	20.64%	12.68%
H1 FY2025	30.13B	3.51B	100.00%	17.64%	11.66%
H2 FY2024	29.64B	2.04B	100.00%	11.64%	6.89%
H1 FY2024	31.12B	3.70B	100.00%	19.11%	11.89%

How Unilever makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Revenue50.50B 100.0%

Cost of revenue26.79B 53.1%

Gross profit50.50B 100.0%

Selling and administration13.62B 27.0%

Operating income9.04B 17.9%

Tax2.48B 4.9%

Net income9.47B 18.7%

FY2025, in EUR. Each band is as wide as its money; the percentage is its share of revenue.

Unilever revenue breakdown

By region

FY2025

32.4%Asia Pacific And Africa26.9%Americas16.2%North America13.7%Europe10.7%Latin America

Region	Revenue	Share of revenue	Change on the year
Asia Pacific And Africa	22.43B	32.4%	-13.7%
Americas	18.62B	26.9%	-17.2%
North America	11.22B	16.2%	-16.2%
Europe	9.45B	13.7%	-23.0%
Latin America	7.40B	10.7%	-18.7%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	8.35B	6.93B
FY2024	9.52B	7.78B
FY2023	9.43B	7.92B
FY2022	7.28B	5.83B
FY2021	7.99B	6.88B
FY2020	9.06B	8.20B
FY2019	8.11B	6.79B
FY2018	7.32B	5.99B
FY2017	7.88B	6.37B
FY2016	7.05B	5.24B

Unilever financial health

Full balance sheet

Cash and short-term investments: 5.87B EUR
Total debt: 32.10B EUR
Net cash: -26.23B EUR
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 7.24B EUR
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 0.74
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 1.98
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 6 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 3.05

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	5.06B	29.59B	6.93B
FY2024	7.63B	30.66B	7.78B
FY2023	6.11B	28.59B	7.92B
FY2022	5.52B	28.44B	5.83B
FY2021	4.50B	29.67B	6.88B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	70.44B	52.86B	15.52B
FY2024	79.75B	57.20B	19.99B
FY2023	75.26B	54.50B	18.10B
FY2022	77.82B	56.12B	19.02B
FY2021	75.10B	55.35B	17.11B
FY2020	67.66B	50.00B	15.27B
FY2019	64.81B	50.92B	13.19B
FY2018	59.46B	47.16B	11.57B
FY2017	60.29B	45.90B	13.63B
FY2016	56.43B	39.45B	16.36B

Unilever valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 23.13
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 18.78
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 2.82
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 7.99
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 14.78

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

144.18B USD

Total debt

35.78B USD

−

Cash and short-term investments

6.54B USD

Enterprise value

173.42B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2027 (est.)	17.65	—	—	—	—
FY2026 (est.)	18.78	17.65	—	—	—
Now (TTM)	23.13	17.80	2.82	7.99	14.78
FY2025	20.77	17.68	2.41	7.83	13.33
FY2024	26.93	22.91	2.54	7.73	14.34
FY2023	19.29	17.58	2.10	6.91	12.80
FY2022	17.65	21.54	2.25	7.12	14.18
FY2021	22.86	20.02	2.65	8.12	14.51

Unilever against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Colgate-Palmolive, The Procter & Gamble, The Estée Lauder Companies, Kimberly-Clark, and Church & Dwight Co., the US Household & Personal Products companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Below its median23.1
16.533.5
Gross marginHighest in 5 years100.0%
40.2%100.0%
Against its peers: 1 of 6Peers' median 50.2%
Operating marginAbove its median17.9%
15.5%17.9%
Against its peers: 2 of 6Peers' median 16.2%
Net marginHighest in 5 years18.7%
9.5%18.7%
Against its peers: 1 of 6Peers' median 11.7%
Return on equityHighest in 5 years61.0%
28.7%61.0%
Against its peers: 3 of 6Peers' median 29.5%
Free cash flow marginHighest in 5 years13.7%
9.7%13.7%
Against its peers: 4 of 6Peers' median 17.4%
Revenue growthLowest in 5 years-16.9%
-16.9%14.5%
Against its peers: 6 of 6Peers' median 1.6%
EPS growthAbove its median13.1%
-14.4%28.9%
Against its peers: 2 of 5Peers' median -9.0%
Debt to EBITDAHighest in 5 years2.68×
2.45×2.68×
Against its peers: 5 of 6Peers' median 1.76×
Current ratioHighest in 5 years0.79
0.700.79
Against its peers: 4 of 6Peers' median 0.83

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	23.1	16.533.5	Below its median	—
Gross margin	100.0%	40.2%100.0%	Highest in 5 years	1 of 6
Operating margin	17.9%	15.5%17.9%	Above its median	2 of 6
Net margin	18.7%	9.5%18.7%	Highest in 5 years	1 of 6
Return on equity	61.0%	28.7%61.0%	Highest in 5 years	3 of 6
Free cash flow margin	13.7%	9.7%13.7%	Highest in 5 years	4 of 6
Revenue growth	-16.9%	-16.9%14.5%	Lowest in 5 years	6 of 6
EPS growth	13.1%	-14.4%28.9%	Above its median	2 of 5
Debt to EBITDA	2.68×	2.45×2.68×	Highest in 5 years	5 of 6
Current ratio	0.79	0.700.79	Highest in 5 years	4 of 6

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Unilever dividends

Annual dividend: 2.09 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 3.16%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 75.41%
Frequency: Quarterly
Next payment: 0.52 USD
Next ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 13 Nov 2026
Next payment date: 18 Dec 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	2.20	2.10	2.09	2.02	2.29	2.08	2.05	2.06	1.76	1.58

Unilever ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 11.82%
Institutional holders: 1,210 (+23)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 98.61%

Who owns the shares

Institutions 11.8% Others 88.2%

As of 30 Jun 2026

Shares free to trade

Free float 2.15B shares ·98.6% Closely held 30.34M shares ·1.4%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	2.18B	2.20B	-12.44%
FY2024	2.51B	2.51B	-1.00%
FY2023	2.53B	2.53B	-1.07%
FY2022	2.56B	2.56B	-1.91%
FY2021	2.61B	2.61B	-0.77%

Common questions about Unilever's financials

Source: Financial Modeling Prep

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Unilever financials

Unilever earnings

Revenue

EPS

Unilever growth and profitability

Revenue / Net income

How Unilever makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Unilever revenue breakdown

By region

Operating and free cash flow

Unilever financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Unilever valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Unilever against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Unilever dividends

Dividends per share

Unilever ownership

Who owns the shares

Shares free to trade

Shares outstanding

Common questions about Unilever's financials

Is Unilever profitable?

Is Unilever financially healthy?

Is Unilever growing?

Where can I find Unilever's annual report (20-F)?

Need help?

Unilever DQuotes are delayed by 15 minutes

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Unilever financials

Unilever earnings

Revenue

EPS

Unilever growth and profitability

Revenue / Net income

How Unilever makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Unilever revenue breakdown

By region

Operating and free cash flow

Unilever financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Unilever valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Unilever against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Unilever dividends

Dividends per share

Unilever ownership

Who owns the shares

Shares free to trade

Shares outstanding

Common questions about Unilever's financials

Is Unilever profitable?

Is Unilever financially healthy?

Is Unilever growing?

Where can I find Unilever's annual report (20-F)?

Need help?

Unilever
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Quotes are delayed by 15 minutes