UNIVERSAL CORP /VA/ UVV
Universal Corporation is a global business-to-business agriproducts company with over 100 years of experience supplying products and innovative solutions to meet our customers' evolving needs. With operations in over 30 countries on five continents, we are uniquely positioned to leverage our worldwide network to access a diverse, reliable supply of plant-based materials. This presence, combined with our supply chain expertise, integrated processing capabilities, and commitment to sustainability, enables us to deliver high-quality, customizable, and traceable value-added agriproducts essential to our customers' success.
We have two operating segments: Tobacco Operations and Ingredients Operations. Our Tobacco Operations segment involves procuring and processing flue-cured, burley, dark air-cured, and oriental leaf tobacco for manufacturers of consumer tobacco products and performing related services. We are the leading global leaf tobacco supplier. Through our Ingredients Operations segment, we procure raw materials globally and process the raw materials through a variety of value-added manufacturing processes to produce high-quality, innovative, specialty plant-based ingredients, including fruits, vegetables, botanical extracts, and flavorings for consumer-packaged goods manufacturers, retailers, and food and beverage companies. We do not sell any direct-to-consumer products. Rather, we support consumer product manufacturers by selling them transformed agriproducts and performing related services for them.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.89B | $2.92B | $2.72B | $2.55B | $2.09B | $1.97B | $1.89B | $2.21B | $2.02B | $2.05B |
| Cost of revenue | $2.41B | $2.40B | $2.21B | $2.11B | $1.69B | $1.60B | $1.55B | $1.82B | $1.66B | $1.68B |
| Gross profit | $472.6M | $524.3M | $509.2M | $438.3M | $396.5M | $368.1M | $338.7M | $392.6M | $356.9M | $370.8M |
| SG&A | $300.7M | $305.3M | $310.6M | $277.2M | $240.7M | $219.8M | $222.9M | $225.1M | $201.1M | $211.9M |
| Operating income | $168.5M | $232.8M | $222.0M | $181.1M | $160.3M | $147.8M | $126.4M | $161.2M | $170.8M | $178.4M |
| Interest expense | $74.0M | $79.6M | $66.3M | $49.3M | $27.7M | $25.0M | $19.9M | $17.5M | $15.6M | $16.3M |
| Pre-tax income | $102.7M | $154.2M | $164.1M | $142.0M | $142.3M | $125.7M | $113.3M | $151.3M | $166.7M | $169.2M |
| Income tax | $46.7M | $40.9M | $31.1M | $11.7M | $38.7M | $29.4M | $35.3M | $41.2M | $50.5M | $56.7M |
| Net income | $32.6K | $95.0K | $119.6K | $124.1K | $86.6K | $87.4M | $71.7M | $104.1M | $105.7M | $106.3M |
| EPS, basic | 1.30 | 3.81 | 4.81 | 5.01 | 3.50 | 3.55 | 2.87 | 4.14 | 4.18 | 0.89 |
| EPS, diluted | 1.30 | 3.78 | 4.78 | 4.97 | 3.47 | 3.53 | 2.86 | 4.11 | 4.14 | 0.88 |
| Shares, diluted (wtd. avg.) | $25.2M | $25.1M | $25.0M | $24.9M | $24.9M | $24.8M | $25.1M | $25.3M | $25.5M | $23.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $62.2M | $260.1M | $55.6M | $64.7M | $87.6M | $203.2M | $107.4M | $297.6M | $234.1M | $284.0M |
| Receivables | $563.9M | $625.9M | $525.3M | $402.1M | $385.4M | $367.5M | $340.7M | $368.1M | $377.1M | $439.3M |
| Total current assets | $1.97B | $2.16B | $2.10B | $1.80B | $1.75B | $1.56B | $1.48B | $1.59B | $1.59B | $1.56B |
| Property, plant and equipment | $373.0M | $373.0M | $365.9M | $351.2M | $345.1M | $349.5M | $315.2M | $302.5M | $323.8M | $317.3M |
| Goodwill | $172.7M | $213.8M | $213.9M | $213.9M | $214.0M | $173.1M | $126.8M | $97.9M | $98.8M | $98.8M |
| Other intangibles | $48.6M | $57.8M | $68.9M | $80.1M | $92.6M | $72.3M | $17.9M | $87.0K | — | — |
| Total assets | $2.77B | $2.99B | $2.94B | $2.64B | $2.59B | $2.34B | $2.12B | $2.13B | $2.17B | $2.12B |
| Accounts payable | — | — | — | — | $272.0M | $139.5M | $140.2M | $145.5M | $163.8M | $153.5M |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $564.2M | $750.2M | $711.4M | $442.0M | $518.7M | $293.2M | $267.4M | $253.7M | $267.7M | $268.0M |
| Long-term debt | $616.7M | $617.9M | $617.4M | $616.8M | $518.5M | $518.2M | $368.8M | $368.5M | $369.1M | $368.7M |
| Total liabilities | $1.31B | $1.49B | $1.46B | $1.20B | $1.20B | $993.5M | $831.6M | $753.3M | $783.3M | $796.8M |
| Retained earnings | $1.14B | $1.19B | $1.17B | $1.14B | $1.09B | $1.09B | $1.08B | $1.11B | $1.08B | $1.03B |
| Total equity | $1.42B | $1.46B | $1.48B | $1.44B | $1.38B | $1.35B | $1.29B | $1.38B | $1.39B | $1.33B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $129.1M | $327.0M | -$74.6M | -$10.6M | $44.9M | $220.4M | $10.9M | $164.5M | $81.2M | $250.3M |
| Depreciation and amortisation | $53.4M | $59.8M | $58.3M | $57.3M | $52.5M | $44.7M | $38.4M | $37.1M | $34.9M | $36.0M |
| Stock-based compensation | $7.1M | $8.5M | $12.1M | $8.4M | $6.2M | $6.1M | $5.6M | $8.2M | $7.6M | $6.5M |
| Capital expenditure | $48.8M | $62.6M | $66.0M | $54.7M | $53.2M | $66.2M | $35.2M | $38.8M | $34.0M | $35.6M |
| Investing cash flow | -$43.0M | -$58.8M | -$60.0M | -$50.4M | -$142.7M | -$217.3M | -$106.4M | -$34.7M | -$27.4M | -$33.9M |
| Financing cash flow | -$284.3M | -$63.2M | $125.7M | $38.9M | -$16.8M | $91.4M | -$94.1M | -$65.8M | -$104.6M | -$251.2M |
| Dividends paid | $81.3M | $79.7M | $78.4M | $77.4M | $76.4M | $75.2M | $75.4M | $69.9M | $54.7M | $49.8M |
| Buybacks | $0 | $0 | $4.7M | $3.4M | $3.1M | $0 | $33.5M | $1.4M | $21.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-046310.
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