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Cabot (CBT) FY2024 results: revenue $4.0 billion, up 1.6% on the year

Cabot Corp. (CBT) reported revenue of $4.0 billion for fiscal 2024, the year ended 30 September 2024, up 1.6% on the year before. Net income was $380 million, down 14.6%, and diluted earnings per share $6.72. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2024.

Revenue
$4.0 billion
+1.6% on the year
FY2017FY2024
Operating margin
15.4%
13.4% a year earlier
FY2017FY2024
Net income
$380 million
-14.6% on the year
FY2017FY2024
Diluted EPS
$6.72
-13.1% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue3,9943,9314,321+1.6%
Cost of revenue3,0343,0923,436-1.9%
Gross profit960839885+14.4%
Gross margin24.0%21.3%20.5%
Research and development63.057.055.0+10.5%
Selling, general and administrative283253258+11.9%
Operating income614526389+16.7%
Operating margin15.4%13.4%9.0%
Interest expense81.090.056.0-10.0%
Pre-tax income529451335+17.3%
Income tax111-28.0102
Effective tax rate21.0%-6.2%30.4%
Net income380445209-14.6%
Net margin9.5%11.3%4.8%
Diluted EPS$6.72$7.73$3.62-13.1%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow692595100+16.3%
Capital expenditure241244211-1.2%
Free cash flow451351-111+28.5%
Free cash flow margin11.3%8.9%-2.6%
Cash from investing-235-214-118
Cash from financing-415-403145
Depreciation and amortisation151144146+4.9%
Share-based compensation25.020.023.0+25.0%
Buybacks17298.053.0+75.5%
Dividends paid93.088.084.0+5.7%
Dividend per share$1.66$1.54$1.48+7.8%
Diluted shares, weighted56m56m57m-1.4%
Shares outstanding at period end54m55m56m-1.7%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity1,4251,264898+12.7%
Non-controlling interest165143134+15.4%
Debt1,1401,2761,443-10.7%
Operating lease liabilities88.084.083.0+4.8%
Finance lease liabilities23.024.026.0-4.2%
Other liabilities895813941+10.1%
Total liabilities and equity3,7363,6043,525+3.7%
Fixed assets1,5341,4121,270+8.6%
Goodwill133134129-0.7%
Intangible assets53.060.063.0-11.7%
Cash and equivalents223238206-6.3%
Inventory552585664-5.6%
Other assets1,2411,1751,193+5.6%
Total assets3,7363,6043,525+3.7%

10-K for the year ended 30 September 2024, filed 20 November 2024: the filing.