Church & Dwight (CHD) FY2020 results: revenue $4.9 billion, up 12.3% on the year
Church & Dwight Co. Inc. (CHD) reported revenue of $4.9 billion for fiscal 2020, the year ended 31 December 2020, up 12.3% on the year before. Net income was $786 million, up 27.6%, and diluted earnings per share $3.12. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$4.9 billion
+12.3% on the year
FY2013FY2020
Operating margin
21.0%
19.3% a year earlier
FY2013FY2020
Net income
$786 million
+27.6% on the year
FY2013FY2020
Diluted EPS
$3.12
+27.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,896
4,358
4,146
+12.3%
Cost of revenue
2,682
2,374
2,305
+13.0%
Gross profit
2,214
1,984
1,841
+11.6%
Gross margin
45.2%
45.5%
44.4%
Research and development
103
93.6
89.7
+9.6%
Selling, general and administrative
593
629
566
-5.6%
Operating income
1,030
840
792
+22.6%
Operating margin
21.0%
19.3%
19.1%
Interest expense
61.0
73.6
79.4
-17.1%
Pre-tax income
974
774
720
+25.9%
Income tax
188
158
151
+19.1%
Effective tax rate
19.3%
20.4%
21.0%
Net income
786
616
569
+27.6%
Net margin
16.1%
14.1%
13.7%
Diluted EPS
$3.12
$2.44
$2.27
+27.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
990
864
764
+14.6%
Capital expenditure
98.9
73.7
60.4
+34.2%
Free cash flow
891
791
703
+12.7%
Free cash flow margin
18.2%
18.1%
17.0%
Cash from investing
-608
-554
-112
Cash from financing
-360
-473
-609
Depreciation and amortisation
190
176
141
+7.5%
Share-based compensation
21.5
20.8
23.3
+3.4%
Buybacks
300
250
200
+20.0%
Dividends paid
237
224
213
+5.9%
Dividend per share
$0.96
$0.91
$0.87
+5.5%
Diluted shares, weighted
252m
252m
251m
+0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,020
2,668
2,454
+13.2%
Short-term borrowings
n/a
n/a
1.8
Debt
2,164
2,063
2,105
+4.9%
Operating lease liabilities
168
144
n/a
+16.9%
Other liabilities
2,062
1,782
1,508
+15.7%
Total liabilities and equity
7,414
6,657
6,069
+11.4%
Fixed assets
613
598
598
+2.4%
Goodwill
2,230
2,080
1,993
+7.2%
Intangible assets
3,110
2,750
2,274
+13.1%
Cash and equivalents
183
156
317
+17.6%
Receivables
399
356
345
+11.9%
Inventory
495
417
383
+18.7%
Other assets
385
300
159
+28.1%
Total assets
7,414
6,657
6,069
+11.4%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.