Colgate-Palmolive (CL) FY2014 results: revenue $17.3 billion, down 0.8% on the year
Colgate-Palmolive Co. (CL) reported revenue of $17.3 billion for fiscal 2014, the year ended 31 December 2014, down 0.8% on the year before. Net income was $2.2 billion, down 2.7%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$17.3 billion
-0.8% on the year
FY2007FY2014
Operating margin
20.6%
20.4% a year earlier
FY2007FY2014
Net income
$2.2 billion
-2.7% on the year
FY2007FY2014
Diluted EPS
$2.36
-0.8% on the year
FY2007FY2014
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
17,277
17,420
17,085
-0.8%
Cost of revenue
7,168
7,219
7,153
-0.7%
Gross profit
10,109
10,201
9,932
-0.9%
Gross margin
58.5%
58.6%
58.1%
Research and development
277
267
259
+3.7%
Selling, general and administrative
5,982
6,223
5,930
-3.9%
Operating income
3,557
3,556
3,889
+0.0%
Operating margin
20.6%
20.4%
22.8%
Interest expense
134
119
81.0
+12.6%
Pre-tax income
3,533
3,565
3,874
-0.9%
Income tax
1,194
1,155
1,243
+3.4%
Effective tax rate
33.8%
32.4%
32.1%
Net income
2,180
2,241
2,472
-2.7%
Net margin
12.6%
12.9%
14.5%
Diluted EPS
$2.36
$2.38
$2.58
-0.8%
$ 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
3,298
3,204
3,196
+2.9%
Capital expenditure
757
670
565
+13.0%
Free cash flow
2,541
2,534
2,631
+0.3%
Free cash flow margin
14.7%
14.5%
15.4%
Cash from investing
-859
-890
-865
Cash from financing
-2,170
-2,142
-2,301
Depreciation and amortisation
442
439
425
+0.7%
Share-based compensation
131
128
120
+2.3%
Buybacks
1,530
1,521
1,943
+0.6%
Dividends paid
1,446
1,382
1,277
+4.6%
Diluted shares, weighted
924m
940m
960m
-1.7%
Shares outstanding at period end
907m
920m
936m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,145
2,305
2,189
-50.3%
Non-controlling interest
240
231
201
+3.9%
Debt
6,132
5,644
5,230
+8.6%
Other liabilities
5,942
5,805
5,774
+2.4%
Total liabilities and equity
13,459
13,985
13,394
-3.8%
Fixed assets
4,080
4,083
3,842
-0.1%
Goodwill
2,307
2,474
2,500
-6.8%
Intangible assets
1,413
1,496
1,499
-5.5%
Cash and equivalents
1,089
962
884
+13.2%
Receivables
1,552
1,636
1,668
-5.1%
Inventory
1,382
1,425
1,365
-3.0%
Other assets
1,636
1,909
1,636
-14.3%
Total assets
13,459
13,985
13,394
-3.8%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.