Church & Dwight (CHD) FY2019 results: revenue $4.4 billion, up 5.1% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $4.4 billion for fiscal 2019, the year ended 31 December 2019, up 5.1% on the year before. Net income was $616 million, up 8.3%, and diluted earnings per share $2.44. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$4.4 billion
+5.1% on the year
FY2012FY2019
Operating margin
19.3%
19.1% a year earlier
FY2012FY2019
Net income
$616 million
+8.3% on the year
FY2012FY2019
Diluted EPS
$2.44
+7.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,358
4,146
3,776
+5.1%
Cost of revenue
2,374
2,305
2,047
+3.0%
Gross profit
1,984
1,841
1,730
+7.8%
Gross margin
45.5%
44.4%
45.8%
Research and development
93.6
89.7
70.8
+4.3%
Selling, general and administrative
629
566
543
+11.1%
Operating income
840
792
733
+6.1%
Operating margin
19.3%
19.1%
19.4%
Interest expense
73.6
79.4
52.6
-7.3%
Pre-tax income
774
720
693
+7.5%
Income tax
158
151
-50.7
+4.6%
Effective tax rate
20.4%
21.0%
-7.3%
Net income
616
569
743
+8.3%
Net margin
14.1%
13.7%
19.7%
Diluted EPS
$2.44
$2.27
$2.90
+7.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
864
764
682
+13.2%
Capital expenditure
73.7
60.4
45.0
+22.0%
Free cash flow
791
703
636
+12.5%
Free cash flow margin
18.1%
17.0%
16.9%
Cash from investing
-554
-112
-1,303
Cash from financing
-473
-609
699
Depreciation and amortisation
176
141
125
+25.0%
Share-based compensation
20.8
23.3
18.1
-10.7%
Buybacks
250
200
400
+25.0%
Dividends paid
224
213
190
+5.1%
Dividend per share
$0.91
$0.87
$0.76
+4.6%
Diluted shares, weighted
252m
251m
256m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,668
2,454
2,218
+8.7%
Short-term borrowings
n/a
1.8
n/a
Debt
2,063
2,105
2,374
-2.0%
Operating lease liabilities
144
n/a
n/a
Other liabilities
1,782
1,508
1,422
+18.2%
Total liabilities and equity
6,657
6,069
6,015
+9.7%
Fixed assets
598
598
608
0.0%
Goodwill
2,080
1,993
1,959
+4.3%
Intangible assets
2,750
2,274
2,320
+20.9%
Cash and equivalents
156
317
279
-50.8%
Receivables
356
345
346
+3.2%
Inventory
417
383
331
+9.0%
Other assets
300
159
172
+88.4%
Total assets
6,657
6,069
6,015
+9.7%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.