Free cash flow remains deeply negative at -54.3% of revenue in 2025Q2, highlighting a structural inability to fund operations internally despite a 2.2% reduction in capital expenditure intensity.
| Cash from Operations | -95.4M | -59.38M | -57.89M | -80.85M | -73.09M | -87.3M |
| Operating CF Margin % | - | -18.07% | -13.58% | -19.14% | -23.67% | -39.21% |
| Operating CF Growth % | -23854.23% | -2.57% | 28.4% | -10.62% | 16.28% | - |
| Net Income | -181.09M | -189.29M | -146.25M | -239.75M | -76.45M | -135.66M |
| Depreciation & Amortization | 45.4M | 46.54M | 46.95M | 45.81M | 41.58M | 48.33M |
| Stock-Based Compensation | -102K | 551K | 2.75M | 7.43M | 7.21M | 5.39M |
| Deferred Taxes | 0 | 3.08M | 3.41M | -129K | 4.33M | -1.6M |
| Other Non-Cash Items | 2.09M | 48.81M | 15.93M | 144.84M | -20.82M | -6.74M |
| Working Capital Changes | 38.31M | 30.93M | 19.33M | -39.05M | -28.94M | 2.98M |
| Change in Receivables | 10.37M | 15.79M | 2.9M | -10.54M | -11.28M | 3.02M |
| Change in Inventory | 40.02M | 22.1M | 8.53M | -28.51M | -11.89M | 3.29M |
| Change in Payables | 0 | 1.85M | 5.46M | 14.96M | 1.3M | 9.71M |
| Cash from Investing | 5.54M | -125K | -38.62M | -21.8M | 6.35M | 67.04M |
| Capital Expenditures | -10.35M | -13.03M | -42.71M | -24.7M | -9.88M | -5.68M |
| CapEx % of Revenue | 3.56% | 3.96% | 10.02% | 5.85% | 3.2% | 2.55% |
| Acquisitions | 0 | 0 | 0 | 0 | -8.89M | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 15.89M | 12.9M | 4.44M | 2.9M | 25.11M | 72.72M |
| Cash from Financing | 102.75M | 49.07M | 34.13M | 104.94M | 110.06M | -41.45M |
| Debt Issued (Net) | 0 | 82.78M | 4.42M | -68.99M | 24.48M | -54.61M |
| Equity Issued (Net) | -669K | 0 | 0 | 183.43M | 92.18M | 24.28M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -669K | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 103.42M | -33.71M | 29.72M | -9.49M | -6.6M | -11.11M |
| Net Change in Cash | -17.88M | -9.81M | -63.9M | 3.09M | 44.49M | -62.47M |
| Free Cash Flow | -105.75M | -72.41M | -100.6M | -105.55M | -82.96M | -92.98M |
| FCF Margin % | -36.34% | -22.03% | -23.61% | -24.99% | -26.86% | -41.77% |
| FCF Growth % | -103.86% | 28.02% | 4.69% | -27.23% | 10.77% | - |
| FCF per Share | -0.90 | -0.62 | -0.76 | -1.04 | -1.54 | -1.28 |
| FCF Conversion (FCF/Net Income) | 0.58x | 0.36x | 0.45x | 0.37x | 1.12x | 0.79x |
| Interest Paid | 18.26M | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and Capital Exhaustion
As reported in recent financial filings, LANV exhibits a consistent OCF/NI ratio near 0.95, suggesting that while operating cash flow tracks net losses closely, the company remains unable to generate positive cash from its core operations despite significant non-cash adjustments like depreciation and amortization.
The alignment between net losses and operating cash outflows indicates that the company's accounting losses are not merely paper-based but reflect actual cash burn. Investors should monitor whether the company can bridge this gap, as the current inability to achieve positive operating cash flow suggests a fundamental mismatch between the cost structure and revenue generation.
Based on the provided cash flow data, LANV's free cash flow margins have remained deeply negative, reaching -54.3% in 2025Q2, which highlights a structural inability to fund operations through internal cash generation while revenue continues to contract across its luxury brand portfolio.
The persistent negative FCF trajectory implies that the business model is currently reliant on external financing to sustain its physical retail footprint and marketing efforts. This trend warrants investigation into how long the company can maintain such burn rates before requiring a significant capital injection or a drastic reduction in operating scale.
According to historical cash flow statements, LANV's capital expenditure as a percentage of revenue has fluctuated, with recent figures showing a 2.2% intensity, which appears to be a defensive reduction in spending rather than a strategic investment in growth or store expansion.
The reduction in absolute CAPEX spending suggests that management is attempting to preserve liquidity by deferring non-essential investments. However, in the luxury sector, under-investing in store aesthetics and brand presence may further erode the competitive positioning of the Lanvin and Sergio Rossi brands.
As indicated by the quarterly cash flow data, working capital changes have provided intermittent cash inflows, such as the $7.4M contribution in 2025Q2, which likely reflects aggressive inventory liquidation or delayed payables rather than sustainable operational efficiency improvements.
The reliance on working capital fluctuations to mitigate cash burn suggests that the company is managing its liquidity on a short-term basis. Analysts should be cautious, as these inflows are often non-recurring and may mask the underlying difficulty in converting inventory into cash at full price.
Quick answers to the most common questions about buying LANV stock.
Lanvin Group Holdings Limited (LANV) generated $-59.4M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Lanvin Group Holdings Limited (LANV) reported negative free cash flow of $72.4M in 2024, indicating capital requirements exceeded cash from operations.
Lanvin Group Holdings Limited (LANV) spent $13.0M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.