Cooper Companies (COO) FY2022 results: revenue $3.3 billion, up 13.2% on the year

Cooper Companies, Inc. (COO) reported revenue of $3.3 billion for fiscal 2022, the year ended 31 October 2022, up 13.2% on the year before. Net income was $386 million, down 86.9%, and diluted earnings per share $1.94. The figures are the company's own, from the 10-K it filed with the SEC on 9 December 2022.

Revenue

$3.3 billion

+13.2% on the year

FY2015FY2022

Operating margin

15.3%

17.3% a year earlier

FY2015FY2022

Net income

$386 million

-86.9% on the year

FY2015FY2022

Diluted EPS

$1.94

-86.9% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	3,308	2,922	2,431	+13.2%
Cost of revenue	1,169	967	896	+20.9%
Gross profit	2,140	1,956	1,535	+9.4%
Gross margin	64.7%	66.9%	63.1%
Research and development	110	92.7	93.3	+19.0%
Selling, general and administrative	1,342	1,211	992	+10.8%
Operating income	508	506	312	+0.4%
Operating margin	15.3%	17.3%	12.8%
Interest expense	57.3	23.1	36.8	+148.1%
Pre-tax income	475	492	266	-3.3%
Income tax	89.5	-2,453	28.1
Effective tax rate	18.8%	-499.1%	10.5%
Net income	386	2,945	238	-86.9%
Net margin	11.7%	100.8%	9.8%
Diluted EPS	$1.94	$14.79	$1.20	-86.9%

$ million except per share.

Free 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	692	739	487	-6.3%
Capital expenditure	242	214	310	+12.9%
Free cash flow	450	524	176	-14.1%
Free cash flow margin	13.6%	17.9%	7.2%
Cash from investing	-1,831	-450	-364
Cash from financing	1,194	-311	-95.5
Depreciation and amortisation	346	309	287	+11.9%
Share-based compensation	54.2	43.8	37.6	+23.7%
Buybacks	78.5	24.8	47.8	+216.5%
Dividends paid	3.0	3.0	3.0	0.0%
Dividend per share	$0.01	$0.01	$0.01	+100.0%
Diluted shares, weighted	199m	199m	198m	-0.2%
Shares outstanding at period end	197m	197m	196m	0.0%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	7,174	6,942	3,825	+3.4%
Non-controlling interest	0.2	0.2	0.2	0.0%
Debt	2,763	1,479	1,793	+86.8%
Operating lease liabilities	206	232	237	-11.3%
Finance lease liabilities	3.7	1.5	n/a	+146.7%
Other liabilities	1,345	952	883	+41.3%
Total liabilities and equity	11,492	9,606	6,738	+19.6%
Fixed assets	1,414	1,348	1,282	+4.9%
Goodwill	3,610	2,574	2,447	+40.2%
Intangible assets	1,885	1,272	1,289	+48.3%
Cash and equivalents	138	95.9	116	+44.1%
Receivables	558	515	435	+8.2%
Inventory	629	586	570	+7.4%
Other assets	3,259	3,216	598	+1.3%
Total assets	11,492	9,606	6,738	+19.6%

10-K for the year ended 31 October 2022, filed 9 December 2022: the filing.