Church & Dwight (CHD) FY2017 results: revenue $3.8 billion, up 8.1% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $3.8 billion for fiscal 2017, the year ended 31 December 2017, up 8.1% on the year before. Net income was $743 million, up 62.0%, and diluted earnings per share $2.90. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$3.8 billion
+8.1% on the year
FY2010FY2017
Operating margin
19.4%
20.7% a year earlier
FY2010FY2017
Net income
$743 million
+62.0% on the year
FY2010FY2017
Diluted EPS
$2.90
+65.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,776
3,493
3,395
+8.1%
Cost of revenue
2,047
1,902
1,883
+7.6%
Gross profit
1,730
1,591
1,512
+8.7%
Gross margin
45.8%
45.5%
44.5%
Research and development
70.8
63.2
64.7
+12.0%
Selling, general and administrative
543
439
420
+23.6%
Operating income
733
724
674
+1.2%
Operating margin
19.4%
20.7%
19.9%
Interest expense
52.6
27.7
30.5
+89.9%
Pre-tax income
693
706
635
-1.9%
Income tax
-50.7
247
225
Effective tax rate
-7.3%
35.0%
35.4%
Net income
743
459
410
+62.0%
Net margin
19.7%
13.1%
12.1%
Diluted EPS
$2.90
$1.75
$1.53
+65.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
682
655
606
+4.0%
Capital expenditure
45.0
49.8
61.8
-9.6%
Free cash flow
636
606
544
+5.1%
Free cash flow margin
16.9%
17.3%
16.0%
Cash from investing
-1,303
-355
n/a
Cash from financing
699
-440
n/a
Depreciation and amortisation
125
108
101
+16.5%
Share-based compensation
18.1
16.0
16.1
+13.1%
Buybacks
400
400
363
0.0%
Dividends paid
190
183
175
+4.0%
Dividend per share
$0.76
$0.71
$0.67
+7.0%
Diluted shares, weighted
256m
262m
267m
-2.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,218
1,978
2,023
+12.1%
Debt
2,374
1,120
1,050
+112.0%
Other liabilities
1,422
1,256
1,184
+13.3%
Total liabilities and equity
6,015
4,354
4,257
+38.1%
Fixed assets
608
589
610
+3.2%
Goodwill
1,959
1,444
1,355
+35.6%
Intangible assets
2,320
1,432
1,270
+62.1%
Cash and equivalents
279
188
330
+48.5%
Receivables
346
287
276
+20.5%
Inventory
331
258
274
+28.1%
Other assets
172
157
143
+10.0%
Total assets
6,015
4,354
4,257
+38.1%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.