Tearsheet

Unilever (UL)


Market Price (10/18/2025): $63.05 | Market Cap: $177.4 Bil
Sector: Consumer Staples | Industry: Household Products

Unilever (UL)


Market Price (10/18/2025): $63.05
Market Cap: $177.4 Bil
Sector: Consumer Staples
Industry: Household Products

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 11%
Trading close to highs
Dist 52W High is -2.9%, Dist 3Y High is -2.9%
Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x, P/EPrice/Earnings or Price/(Net Income) is 42x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 5.5 Bil, FCF LTM is 5.5 Bil
Weak multi-year price returns
2Y Excs Rtn is -13%, 3Y Excs Rtn is -25%
 
2 Low stock price volatility
Vol 12M is 19%
  
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 11%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 5.5 Bil, FCF LTM is 5.5 Bil
2 Low stock price volatility
Vol 12M is 19%
3 Trading close to highs
Dist 52W High is -2.9%, Dist 3Y High is -2.9%
4 Weak multi-year price returns
2Y Excs Rtn is -13%, 3Y Excs Rtn is -25%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x, P/EPrice/Earnings or Price/(Net Income) is 42x

Market Valuation & Key Metrics

UL Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
UL Return9%-8%-3%-0%21%12%29%
Peers Return10%9%-14%-11%12%-45%-43%
S&P 500 Return16%27%-19%24%23%13%103%

Monthly Win Rates [3]
UL Win Rate58%33%42%58%75%56% 
Peers Win Rate42%42%25%31%53%37% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
UL Max Drawdown-21%-13%-18%-6%-3%-3% 
Peers Max Drawdown-22%-4%-21%-19%-11%-46% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: PG, NWL, DSY, LGM, MXRX. See UL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/17/2025 (YTD)

Downturns Compared

Unique KeyEventULS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-29.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven41.5%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven802 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-26.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven36.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven126 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-14.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven17.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven425 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-55.1%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven122.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1318 days1480 days


How Low Can It Go?

Unilever's stock fell -29.3% during the 2022 Inflation Shock from a high on 5/25/2021. A -29.3% loss requires a 41.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Better Bets than Unilever (UL)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to UL. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
IPAR_9302025_Dip_Buyer_FCFYield09302025IPARInterparfumsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-0.0%-0.0%-6.0%
TAP_9302025_Dip_Buyer_FCFYield09302025TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.6%4.6%0.0%
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025STZConstellation BrandsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-15.9%-15.9%-21.1%
SJM_6302025_Dip_Buyer_FCFYield06302025SJMJM SmuckerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
8.3%8.3%0.0%
BF-B_5312025_Dip_Buyer_ValueBuy05312025BF-BBrown-FormanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-12.5%-12.5%-22.4%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
IPAR_9302025_Dip_Buyer_FCFYield09302025IPARInterparfumsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-0.0%-0.0%-6.0%
TAP_9302025_Dip_Buyer_FCFYield09302025TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.6%4.6%0.0%
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025STZConstellation BrandsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-15.9%-15.9%-21.1%
SJM_6302025_Dip_Buyer_FCFYield06302025SJMJM SmuckerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
8.3%8.3%0.0%
BF-B_5312025_Dip_Buyer_ValueBuy05312025BF-BBrown-FormanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-12.5%-12.5%-22.4%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Unilever

Financials

ULPGNWLDSYLGMMXRXMedian
NameUnilever Procter .Newell B.Big Tree.SIXGOMEOWMed-X  
Mkt Price63.12151.404.850.70--33.98
Mkt Cap177.6355.02.0---177.6
Rev LTM44,26284,2847,397---44,262
Op Inc LTM6,35920,450466---6,359
FCF LTM5,49014,044-104---5,490
FCF 3Y Avg4,80614,785167---4,806
CFO LTM5,49017,817161---5,490
CFO 3Y Avg5,04518,170444---5,045

Growth & Margins

ULPGNWLDSYLGMMXRXMedian
NameUnilever Procter .Newell B.Big Tree.SIXGOMEOWMed-X  
Rev Chg LTM11.1%0.3%-5.3%---0.3%
Rev Chg 3Y Avg3.4%1.7%-10.9%---1.7%
Rev Chg Q12.0%1.7%-4.8%---1.7%
QoQ Delta Rev Chg LTM2.7%0.4%-1.3%---0.4%
Op Mgn LTM14.4%24.3%6.3%---14.4%
Op Mgn 3Y Avg7.9%23.3%5.5%---7.9%
QoQ Delta Op Mgn LTM-4.5%0.5%0.1%---0.1%
CFO/Rev LTM12.4%21.1%2.2%---12.4%
CFO/Rev 3Y Avg12.2%21.8%5.6%---12.2%
FCF/Rev LTM12.4%16.7%-1.4%---12.4%
FCF/Rev 3Y Avg11.6%17.7%2.1%---11.6%

Valuation

ULPGNWLDSYLGMMXRXMedian
NameUnilever Procter .Newell B.Big Tree.SIXGOMEOWMed-X  
Mkt Cap177.6355.02.0---177.6
P/S4.04.20.3---4.0
P/EBIT26.916.861.4---26.9
P/E41.822.2-8.3---22.2
P/CFO32.319.912.6---19.9
Total Yield3.7%4.5%-7.6%---3.7%
Dividend Yield1.3%0.0%4.4%---1.3%
FCF Yield 3Y Avg3.0%3.9%5.6%---3.9%
D/E0.10.12.8---0.1
Net D/E0.00.12.7---0.1

Returns

ULPGNWLDSYLGMMXRXMedian
NameUnilever Procter .Newell B.Big Tree.SIXGOMEOWMed-X  
1M Rtn1.1%-5.6%-15.5%-50.0%---10.5%
3M Rtn6.6%-2.4%-12.4%-46.6%---7.4%
6M Rtn0.6%-10.1%5.8%-55.1%---4.8%
12M Rtn3.8%-9.9%-34.1%-87.5%---22.0%
3Y Rtn58.4%27.2%-63.7%---27.2%
1M Excs Rtn2.2%-4.2%-16.9%-50.9%---10.6%
3M Excs Rtn1.0%-8.0%-18.5%-53.5%---13.3%
6M Excs Rtn-25.6%-36.3%-20.4%-81.3%---30.9%
12M Excs Rtn-11.5%-25.2%-47.0%-101.7%---36.1%
3Y Excs Rtn-25.5%-55.0%-147.5%----55.0%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Personal Care13,82913,63611,763  
Nutrition13,20413,89813,104  
Beauty & Wellbeing12,46612,25010,138  
Home Care12,18112,40110,57210,46010,825
Ice Cream7,9247,8886,867  
Beauty & Personal Care   21,12421,868
Foods & Refreshment   19,14019,287
Total59,60460,07352,44450,72451,980


Operating Income by Segment
$ Mil20242023202220212020
Personal Care2,9572,2642,336  
Nutrition2,4134,4972,104  
Beauty & Wellbeing2,2092,1542,135  
Home Care1,4191,0641,2941,2941,377
Ice Cream760776833  
Beauty & Personal Care   4,3114,520
Foods & Refreshment   2,7492,811
Total9,75810,7558,7028,3548,708


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity3,251,432
Short Interest: % Change Since 9152025-31.4%
Average Daily Volume2,428,691
Days-to-Cover Short Interest1.34
Basic Shares Quantity2,812,900,000
Short % of Basic Shares0.1%

SEC Filings

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Report DateFiling DateFiling
12312023314202420-F 12/31/2023
630202372520236-K 6/30/2023
12312022313202320-F 12/31/2022
630202172220216-K 6/30/2021
12312020310202120-F 12/31/2020
630202072320206-K 6/30/2020
12312018311201920-F 12/31/2018
630201871920186-K 6/30/2018
12312017228201820-F 12/31/2017
630201772020176-K 6/30/2017
12312016228201720-F 12/31/2016
630201272720126-K 6/30/2012
6302011102120116-K 6/30/2011
9302010110420106-K 9/30/2010
6302010110520106-K 6/30/2010
331201042920106-K 3/31/2010

Insider Activity

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