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Universal (UVV) FY2025 results: revenue $2.9 billion, up 7.4% on the year

Universal Corp. (UVV) reported revenue of $2.9 billion for fiscal 2025, the year ended 31 March 2025, up 7.4% on the year before. Net income was $95 million, down 20.5%, and diluted earnings per share $3.78. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2025.

Revenue
$2.9 billion
+7.4% on the year
FY2018FY2025
Operating margin
8.0%
8.2% a year earlier
FY2018FY2025
Net income
$95 million
-20.5% on the year
FY2018FY2025
Diluted EPS
$3.78
-20.9% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue2,9232,7222,550+7.4%
Cost of revenue2,3992,2122,112+8.4%
Gross profit524509438+3.0%
Gross margin17.9%18.7%17.2%
Selling, general and administrative305311277-1.7%
Operating income233222181+4.9%
Operating margin8.0%8.2%7.1%
Interest expense79.666.349.3+20.2%
Pre-tax income154164142-6.0%
Income tax40.931.111.7+31.6%
Effective tax rate26.6%19.0%8.3%
Net income95.0120124-20.5%
Net margin3.3%4.4%4.9%
Diluted EPS$3.78$4.78$4.97-20.9%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow327-74.6-10.6
Capital expenditure62.666.054.7-5.2%
Free cash flow264-141-65.2
Free cash flow margin9.0%-5.2%-2.6%
Cash from investing-58.8-60.0-50.4
Cash from financing-63.212638.9
Depreciation and amortisation59.858.357.3+2.5%
Share-based compensation8.512.18.4-29.3%
Buybacks0.04.73.4
Dividends paid79.778.477.4+1.6%
Dividend per share$3.24$3.20$3.16+1.3%
Diluted shares, weighted25m25m25m+0.3%
Shares outstanding at period end25m25m25m+0.6%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity1,4591,4371,397+1.5%
Non-controlling interest42.041.739.9+0.6%
Debt1,0731,035812+3.7%
Operating lease liabilities20.619.325.5+6.8%
Other liabilities395404364-2.2%
Total liabilities and equity2,9902,9372,639+1.8%
Fixed assets373366351+1.9%
Goodwill214214214-0.0%
Intangible assets57.868.980.1-16.0%
Trading assets11.312.411.7-8.8%
Cash and equivalents26055.664.7+367.9%
Receivables626525402+19.2%
Other assets1,4481,6951,516-14.6%
Total assets2,9902,9372,639+1.8%

10-K for the year ended 31 March 2025, filed 30 May 2025: the filing.