Church & Dwight (CHD) FY2018 results: revenue $4.1 billion, up 9.8% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $4.1 billion for fiscal 2018, the year ended 31 December 2018, up 9.8% on the year before. Net income was $569 million, down 23.5%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$4.1 billion
+9.8% on the year
FY2011FY2018
Operating margin
19.1%
19.4% a year earlier
FY2011FY2018
Net income
$569 million
-23.5% on the year
FY2011FY2018
Diluted EPS
$2.27
-21.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,146
3,776
3,493
+9.8%
Cost of revenue
2,305
2,047
1,902
+12.6%
Gross profit
1,841
1,730
1,591
+6.4%
Gross margin
44.4%
45.8%
45.5%
Research and development
89.7
70.8
63.2
+26.7%
Selling, general and administrative
566
543
439
+4.3%
Operating income
792
733
724
+8.1%
Operating margin
19.1%
19.4%
20.7%
Interest expense
79.4
52.6
27.7
+51.0%
Pre-tax income
720
693
706
+3.9%
Income tax
151
-50.7
247
Effective tax rate
21.0%
-7.3%
35.0%
Net income
569
743
459
-23.5%
Net margin
13.7%
19.7%
13.1%
Diluted EPS
$2.27
$2.90
$1.75
-21.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
764
682
655
+12.0%
Capital expenditure
60.4
45.0
49.8
+34.2%
Free cash flow
703
636
606
+10.5%
Free cash flow margin
17.0%
16.9%
17.3%
Cash from investing
-112
-1,303
-355
Cash from financing
-609
699
-440
Depreciation and amortisation
141
125
108
+12.5%
Share-based compensation
23.3
18.1
16.0
+28.7%
Buybacks
200
400
400
-50.0%
Dividends paid
213
190
183
+12.0%
Dividend per share
$0.87
$0.76
$0.71
+14.5%
Diluted shares, weighted
251m
256m
262m
-2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,454
2,218
1,978
+10.6%
Short-term borrowings
1.8
n/a
n/a
Debt
2,105
2,374
1,120
-11.3%
Other liabilities
1,508
1,422
1,256
+6.0%
Total liabilities and equity
6,069
6,015
4,354
+0.9%
Fixed assets
598
608
589
-1.6%
Goodwill
1,993
1,959
1,444
+1.7%
Intangible assets
2,274
2,320
1,432
-2.0%
Cash and equivalents
317
279
188
+13.6%
Receivables
345
346
287
-0.2%
Inventory
383
331
258
+15.8%
Other assets
159
172
157
-7.5%
Total assets
6,069
6,015
4,354
+0.9%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.