Colgate-Palmolive (CL) FY2019 results: revenue $15.7 billion, up 1.0% on the year
Colgate-Palmolive Co. (CL) reported revenue of $15.7 billion for fiscal 2019, the year ended 31 December 2019, up 1.0% on the year before. Net income was $2.4 billion, down 1.4%, and diluted earnings per share $2.75. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$15.7 billion
+1.0% on the year
FY2012FY2019
Operating margin
22.6%
23.8% a year earlier
FY2012FY2019
Net income
$2.4 billion
-1.4% on the year
FY2012FY2019
Diluted EPS
$2.75
0.0% 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
15,693
15,544
15,454
+1.0%
Cost of revenue
6,368
6,313
6,174
+0.9%
Gross profit
9,325
9,231
9,280
+1.0%
Gross margin
59.4%
59.4%
60.0%
Research and development
281
277
285
+1.4%
Selling, general and administrative
5,575
5,389
5,400
+3.5%
Operating income
3,554
3,694
3,707
-3.8%
Operating margin
22.6%
23.8%
24.0%
Interest expense
193
195
156
-1.0%
Pre-tax income
3,301
3,464
3,487
-4.7%
Income tax
774
906
1,313
-14.6%
Effective tax rate
23.4%
26.2%
37.7%
Net income
2,367
2,400
2,024
-1.4%
Net margin
15.1%
15.4%
13.1%
Diluted EPS
$2.75
$2.75
$2.28
0.0%
$ 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
3,133
3,056
3,054
+2.5%
Capital expenditure
335
436
553
-23.2%
Free cash flow
2,798
2,620
2,501
+6.8%
Free cash flow margin
17.8%
16.9%
16.2%
Cash from investing
-2,099
-1,170
-471
Cash from financing
-870
-2,679
-2,450
Depreciation and amortisation
519
511
475
+1.6%
Share-based compensation
100
109
127
-8.3%
Buybacks
1,202
1,238
1,399
-2.9%
Dividends paid
1,614
1,591
1,529
+1.4%
Dividend per share
$1.71
$1.66
$1.59
+3.0%
Diluted shares, weighted
861m
873m
888m
-1.4%
Shares outstanding at period end
855m
863m
875m
-1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
117
-102
-60.0
Non-controlling interest
441
299
303
+47.5%
Debt
7,847
6,354
6,566
+23.5%
Operating lease liabilities
491
n/a
n/a
Other liabilities
6,138
5,610
5,867
+9.4%
Total liabilities and equity
15,034
12,161
12,676
+23.6%
Fixed assets
3,750
3,881
4,072
-3.4%
Goodwill
3,508
2,530
2,218
+38.7%
Intangible assets
2,667
1,637
1,341
+62.9%
Cash and equivalents
883
726
1,535
+21.6%
Receivables
1,440
1,400
1,480
+2.9%
Inventory
1,400
1,250
1,221
+12.0%
Other assets
1,386
737
809
+88.1%
Total assets
15,034
12,161
12,676
+23.6%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.