Church & Dwight (CHD) FY2013 results: revenue $3.2 billion, up 9.3% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $3.2 billion for fiscal 2013, the year ended 31 December 2013, up 9.3% on the year before. Net income was $394 million, up 12.8%, and diluted earnings per share $1.40. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$3.2 billion
+9.3% on the year
FY2008FY2013
Operating margin
19.5%
18.7% a year earlier
FY2008FY2013
Net income
$394 million
+12.8% on the year
FY2008FY2013
Diluted EPS
$1.40
+13.9% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,194
2,922
2,749
+9.3%
Cost of revenue
1,756
1,630
1,535
+7.7%
Gross profit
1,438
1,291
1,214
+11.4%
Gross margin
45.0%
44.2%
44.2%
Research and development
61.8
54.8
55.1
+12.8%
Selling, general and administrative
416
389
368
+6.9%
Operating income
622
545
493
+14.1%
Operating margin
19.5%
18.7%
17.9%
Interest expense
27.7
14.0
8.7
+97.9%
Pre-tax income
598
542
495
+10.2%
Income tax
203
193
185
+5.6%
Effective tax rate
34.0%
35.5%
37.4%
Net income
394
350
310
+12.8%
Net margin
12.3%
12.0%
11.3%
Diluted EPS
$1.40
$1.23
$1.06
+13.9%
$ 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
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
500
524
438
-4.6%
Capital expenditure
67.1
74.5
76.6
-9.9%
Free cash flow
432
449
361
-3.7%
Free cash flow margin
13.5%
15.4%
13.1%
Cash from investing
-77.1
-741
-148
Cash from financing
-260
305
-226
Depreciation and amortisation
90.5
85.0
77.1
+6.5%
Share-based compensation
17.0
12.4
11.0
+37.1%
Buybacks
50.1
250
80.2
-80.0%
Dividends paid
155
134
97.4
+15.4%
Dividend per share
$0.56
$0.48
$0.34
+16.7%
Diluted shares, weighted
282m
285m
292m
-1.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,300
2,061
2,041
+11.6%
Non-controlling interest
0.1
0.2
0.2
-50.0%
Debt
803
903
252
-11.1%
Other liabilities
1,134
1,134
824
+0.0%
Total liabilities and equity
4,237
4,098
3,118
+3.4%
Fixed assets
594
586
506
+1.4%
Goodwill
1,222
1,214
868
+0.7%
Intangible assets
1,204
1,255
904
-4.0%
Investments
n/a
0.0
n/a
Cash and equivalents
497
343
251
+44.9%
Receivables
330
303
265
+8.9%
Inventory
250
242
201
+3.4%
Other assets
139
155
122
-10.3%
Total assets
4,237
4,098
3,118
+3.4%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.