Colgate-Palmolive (CL) FY2020 results: revenue $16.5 billion, up 5.0% on the year
Colgate-Palmolive Co. (CL) reported revenue of $16.5 billion for fiscal 2020, the year ended 31 December 2020, up 5.0% on the year before. Net income was $2.7 billion, up 13.9%, and diluted earnings per share $3.14. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$16.5 billion
+5.0% on the year
FY2013FY2020
Operating margin
23.6%
22.6% a year earlier
FY2013FY2020
Net income
$2.7 billion
+13.9% on the year
FY2013FY2020
Diluted EPS
$3.14
+14.2% 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
16,471
15,693
15,544
+5.0%
Cost of revenue
6,454
6,368
6,313
+1.4%
Gross profit
10,017
9,325
9,231
+7.4%
Gross margin
60.8%
59.4%
59.4%
Research and development
290
281
277
+3.2%
Selling, general and administrative
6,019
5,575
5,389
+8.0%
Operating income
3,885
3,554
3,694
+9.3%
Operating margin
23.6%
22.6%
23.8%
Interest expense
184
193
195
-4.7%
Pre-tax income
3,647
3,301
3,464
+10.5%
Income tax
787
774
906
+1.7%
Effective tax rate
21.6%
23.4%
26.2%
Net income
2,695
2,367
2,400
+13.9%
Net margin
16.4%
15.1%
15.4%
Diluted EPS
$3.14
$2.75
$2.75
+14.2%
$ 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
3,719
3,133
3,056
+18.7%
Capital expenditure
409
335
436
+22.1%
Free cash flow
3,310
2,798
2,620
+18.3%
Free cash flow margin
20.1%
17.8%
16.9%
Cash from investing
-779
-2,099
-1,170
Cash from financing
-2,919
-870
-2,679
Depreciation and amortisation
539
519
511
+3.9%
Share-based compensation
107
100
109
+7.0%
Buybacks
1,476
1,202
1,238
+22.8%
Dividends paid
1,654
1,614
1,591
+2.5%
Dividend per share
$1.75
$1.71
$1.66
+2.3%
Diluted shares, weighted
859m
861m
873m
-0.2%
Shares outstanding at period end
850m
855m
863m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
743
117
-102
+535.0%
Non-controlling interest
358
441
299
-18.8%
Debt
7,601
7,847
6,354
-3.1%
Operating lease liabilities
476
491
n/a
-3.1%
Other liabilities
6,742
6,138
5,610
+9.8%
Total liabilities and equity
15,920
15,034
12,161
+5.9%
Fixed assets
3,716
3,750
3,881
-0.9%
Goodwill
3,824
3,508
2,530
+9.0%
Intangible assets
2,894
2,667
1,637
+8.5%
Cash and equivalents
888
883
726
+0.6%
Receivables
1,264
1,440
1,400
-12.2%
Inventory
1,673
1,400
1,250
+19.5%
Other assets
1,661
1,386
737
+19.8%
Total assets
15,920
15,034
12,161
+5.9%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.