Cooper Companies, Inc. Q4 FY2023 results: revenue $927 million, up 9.3% on the year

Cooper Companies, Inc. (COO) reported revenue of $927 million for Q4 FY2023, the quarter ended 31 October 2023, up 9.3% on the same quarter a year earlier. Net income was $84 million, up 29.0% on the year, and diluted earnings per share $1.70. The figures are the company's own, from the 10-K it filed with the SEC on 8 December 2023.

Revenue$927 millionup 9.3%

Net income$84 millionup 29.0%

Diluted EPS$1.70

QuarterQ4 FY2023ended 31 October 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	927	n/a	n/a	n/a
Cost of revenue	321	n/a	n/a	n/a
Gross profit	606	n/a	n/a	n/a
Gross margin	65.4%	n/a	n/a
Research and development	36.7	n/a	n/a	n/a
Selling, general and administrative	388	n/a	n/a	n/a
Operating income	136	n/a	n/a	n/a
Operating margin	14.6%	n/a	n/a
Interest expense	26.3	n/a	n/a	n/a
Pre-tax income	106	n/a	n/a	n/a
Income tax	21.9	n/a	n/a	n/a
Effective tax rate	20.6%	n/a	n/a
Net income	84.5	n/a	n/a	n/a
Net margin	9.1%	n/a	n/a
Diluted EPS	$1.70	n/a	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. 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 and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	174	n/a	n/a	n/a
Capital expenditure	145	n/a	n/a	n/a
Free cash flow	29.2	n/a	n/a	n/a
Free cash flow margin	3.1%	n/a	n/a
Depreciation and amortisation	92.7	n/a	n/a	n/a
Share-based compensation	15.2	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividend per share	$0.00	n/a	n/a	n/a
Diluted shares, weighted	50m	n/a	n/a	n/a
Shares outstanding at period end	50m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Total assets	11,659	n/a	n/a	n/a
Cash and equivalents	121	n/a	n/a	n/a
Receivables	610	n/a	n/a	n/a
Inventory	736	n/a	n/a	n/a
Goodwill	3,624	n/a	n/a	n/a
Total debt, as filed	2,569	n/a	n/a	n/a
Long-term debt	2,520	n/a	n/a	n/a
Long-term debt including finance leases	2,524	n/a	n/a	n/a
Operating lease liabilities	216	n/a	n/a	n/a
Finance lease liabilities	3.4	n/a	n/a	n/a
Shareholders' equity	7,551	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	927	932	943	1,003	1,018	965	1,002	1,060	1,065	1,024	1,082	1,066
Cost of revenue	321	308	311	340	341	304	323	368	414	329	346	354
Gross profit	606	624	631	663	678	660	679	692	651	695	735	712
Gross margin	65%	67%	67%	66%	67%	68%	68%	65%	61%	68%	68%	67%
R&D	36.7	39.5	38.9	39.0	37.7	40.7	45.5	44.6	41.4	44.3	42.5	41.6
SG&A	388	381	380	381	391	388	399	422	419	390	676	401
Operating income	136	153	162	192	198	182	185	176	140	213	-31.0	222
Operating margin	15%	16%	17%	19%	19%	19%	18%	17%	13%	21%	-3%	21%
Interest expense	26.3	29.9	28.9	28.5	27.0	26.0	24.2	25.4	24.4	22.4	20.9	21.5
Pre-tax income	106	120	130	164	169	153	144	152	117	192	-48.4	202
Tax rate	21%	32%	32%	36%	30%	32%	39%	35%	28%	32%	n/a	-114%
Net income	84.5	81.2	88.9	105	118	104	87.7	98.3	84.6	131	-77.9	433
Net margin	9%	9%	9%	10%	12%	11%	9%	9%	8%	13%	-7%	41%
Diluted EPS	$1.70	$0.41	$0.44	$0.52	$0.59	$0.52	$0.44	$0.49	$0.42	$0.66	-$0.40	$2.24
Operating cash flow	174	123	111	208	268	191	96.2	261	248	261	183	342
Capital expenditure	145	118	74.1	89.0	140	89.4	78.1	96.9	98.0	102	86.4	68.7
Free cash flow	29.2	4.6	36.9	118	128	101	18.1	164	150	159	96.4	273
Buybacks	0.0	n/a	n/a	0.0	n/a	0.0	40.6	52.7	197	92.5	15.5	339
Dividends paid	n/a	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	50m	199m	199m	199m	200m	200m	200m	199m	196m	195m	195m	190m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless. EPS is as filed for each quarter. A split or a bonus issue changes the share count, so quarters before it are on the old count.

Source

10-K for the period ended 31 October 2023, filed 8 December 2023, accession 0000711404-23-000072: the filing on EDGAR. All of Cooper Companies, Inc.'s filings: EDGAR company page.

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