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Amcor (AMCR) FY2022 results: revenue $14.5 billion, up 13.1% on the year

Amcor plc (AMCR) reported revenue of $14.5 billion for fiscal 2022, the year ended 30 June 2022, up 13.1% on the year before. Net income was $805 million, down 14.3%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 18 August 2022.

Revenue
$14.5 billion
+13.1% on the year
FY2017FY2022
Operating margin
8.5%
10.3% a year earlier
FY2017FY2022
Net income
$805 million
-14.3% on the year
FY2017FY2022
Diluted EPS
$2.65
-12.1% on the year
FY2017FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue14,54412,86112,468+13.1%
Cost of revenue11,72410,1299,932+15.7%
Gross profit2,8202,7322,536+3.2%
Gross margin19.4%21.2%20.3%
Research and development96.010097.0-4.0%
Selling, general and administrative1,2841,2921,385-0.6%
Operating income1,2391,321994-6.2%
Operating margin8.5%10.3%8.0%
Interest expense159153207+3.9%
Pre-tax income1,1151,193825-6.5%
Income tax300261187+14.9%
Effective tax rate26.9%21.9%22.6%
Net income805939612-14.3%
Net margin5.5%7.3%4.9%
Diluted EPS$2.65$3.01$1.91-12.1%
$ 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

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow1,5261,4611,384+4.4%
Capital expenditure527468400+12.6%
Free cash flow999993985+0.6%
Free cash flow margin6.9%7.7%7.9%
Cash from investing-527-23338.0
Cash from financing-891-1,179-1,236
Depreciation and amortisation625574652+8.9%
Share-based compensation63.058.034.0+8.6%
Buybacks601351537+71.2%
Dividends paid732742761-1.3%
Dividend per share$2.39$2.34$2.33+2.1%
Diluted shares, weighted303m311m320m-2.6%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity4,0824,7644,626-14.3%
Non-controlling interest59.057.061.0+3.5%
Debt6,4906,2896,234+3.2%
Operating lease liabilities493462466+6.7%
Finance lease liabilities52.030.031.0+73.3%
Other liabilities6,2505,5865,024+11.9%
Total liabilities and equity17,42617,18816,442+1.4%
Fixed assets3,6463,7613,615-3.1%
Goodwill5,2855,4195,339-2.5%
Intangible assets1,6571,8351,994-9.7%
Cash and equivalents775850743-8.8%
Receivables1,9351,8641,616+3.8%
Inventory2,4391,9911,832+22.5%
Other assets1,6891,4681,303+15.1%
Total assets17,42617,18816,442+1.4%

10-K for the year ended 30 June 2022, filed 18 August 2022: the filing.