Table 3. Debt Ratio of LVMH, Richemond and Kering Company 2018 2019 2020 2021 2022 LVMH 0.19 0.42 0.66 0.51 0.42 Richemond 0.29 0.25 0.39 0.50 0.46 Kering 0.32 0.65 0.60 0.49 0.58 Source: Morningstar Valuation - Liquidity/Financial Health (2023)Table 2. ROE, ROA and Debt Ratios of LVMH, Richemont, and Kering Company Year ROE (in %) ROA (in %) LVMH 2018 20.78 8.90 Richemont 2018 8.10 5.34 Kering 2018 34.00 15.83 LVMH 2019 20.82 8.40 Richemont 2019 17.63 10.39 Kering 2019 22.88 9.52 LVMH 2020 12.71 4.58 Richemont 2020 5.47 3.19 Kering 2020 19.46 7.80 LVMH 2021 28.48 10.29 Richemont 2021 7.45 3.95 Kering 2021 25.24 10.75 LVMH 2022 27.55 10.84 Richemont 2022 11.04 5.51 Kering 2022 26.43 11.12 Source: Morningstar Operating Performances (2023)Table 1. Current Ratios of LVMH, Richemont and Kering Company 2018 2019 2020 2021 2022 LVMH 1.40 1.17 1.58 1.23 1.26 Richemont 3.10 2.74 2.86 2.61 2.42 Kering 1.10 0.93 1.34 1.30 1.37 Source: Morningstar Valuation - Liquidity/Financial Health (2023)