Church & Dwight (CHD) FY2014 results: revenue $3.3 billion, up 3.2% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $3.3 billion for fiscal 2014, the year ended 31 December 2014, up 3.2% on the year before. Net income was $414 million, up 4.9%, and diluted earnings per share $1.50. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$3.3 billion
+3.2% on the year
FY2008FY2014
Operating margin
19.4%
19.5% a year earlier
FY2008FY2014
Net income
$414 million
+4.9% on the year
FY2008FY2014
Diluted EPS
$1.50
+7.9% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,298
3,194
2,922
+3.2%
Cost of revenue
1,845
1,756
1,630
+5.0%
Gross profit
1,453
1,438
1,291
+1.0%
Gross margin
44.1%
45.0%
44.2%
Research and development
59.8
61.8
54.8
-3.2%
Selling, general and administrative
395
416
389
-5.1%
Operating income
641
622
545
+3.1%
Operating margin
19.4%
19.5%
18.7%
Interest expense
27.4
27.7
14.0
-1.1%
Pre-tax income
625
598
542
+4.5%
Income tax
211
203
193
+3.7%
Effective tax rate
33.8%
34.0%
35.5%
Net income
414
394
350
+4.9%
Net margin
12.6%
12.3%
12.0%
Diluted EPS
$1.50
$1.40
$1.23
+7.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
540
500
524
+8.1%
Capital expenditure
70.5
67.1
74.5
+5.1%
Free cash flow
470
432
449
+8.6%
Free cash flow margin
14.2%
13.5%
15.4%
Cash from investing
n/a
-77.1
-741
Cash from financing
n/a
-260
305
Depreciation and amortisation
91.2
90.5
85.0
+0.8%
Share-based compensation
17.0
17.0
12.4
0.0%
Buybacks
479
50.1
250
+855.7%
Dividends paid
168
155
134
+7.9%
Dividend per share
$0.62
$0.56
$0.48
+10.7%
Diluted shares, weighted
275m
282m
285m
-2.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,102
2,300
2,061
-8.6%
Non-controlling interest
0.0
0.1
0.2
Debt
1,087
803
903
+35.3%
Other liabilities
1,171
1,134
1,134
+3.2%
Total liabilities and equity
4,359
4,237
4,098
+2.9%
Fixed assets
616
594
586
+3.7%
Goodwill
1,325
1,222
1,214
+8.4%
Intangible assets
1,272
1,204
1,255
+5.7%
Investments
n/a
n/a
0.0
Cash and equivalents
423
497
343
-14.9%
Receivables
323
330
303
-2.2%
Inventory
246
250
242
-1.8%
Other assets
154
139
155
+10.6%
Total assets
4,359
4,237
4,098
+2.9%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.