Coty (COTY) FY2024 results: revenue $6.1 billion, up 10.2% on the year

Coty Inc. (COTY) reported revenue of $6.1 billion for fiscal 2024, the year ended 30 June 2024, up 10.2% on the year before. Net income was $89 million, down 82.4%, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 20 August 2024.

Revenue

$6.1 billion

+10.2% on the year

FY2017FY2024

Operating margin

8.9%

9.8% a year earlier

FY2017FY2024

Net income

$89 million

-82.4% on the year

FY2017FY2024

Diluted EPS

$0.09

-84.2% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	6,118	5,554	5,304	+10.2%
Cost of revenue	2,179	2,007	1,935	+8.6%
Gross profit	3,939	3,547	3,369	+11.0%
Gross margin	64.4%	63.9%	63.5%
Research and development	127	105	97.3	+20.5%
Selling, general and administrative	3,162	2,818	2,881	+12.2%
Operating income	547	544	241	+0.6%
Operating margin	8.9%	9.8%	4.5%
Interest expense	252	261	241	-3.6%
Pre-tax income	204	705	427	-71.0%
Income tax	95.1	182	165	-47.6%
Effective tax rate	46.5%	25.8%	38.6%
Net income	89.4	508	260	-82.4%
Net margin	1.5%	9.1%	4.9%
Diluted EPS	$0.09	$0.57	$0.08	-84.2%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	615	626	727	-1.8%
Capital expenditure	245	223	174	+10.1%
Free cash flow	369	403	552	-8.3%
Free cash flow margin	6.0%	7.3%	10.4%
Cash from investing	-226	-118	270
Cash from financing	-337	-469	-1,034
Depreciation and amortisation	421	427	516	-1.3%
Share-based compensation	88.8	136	196	-34.7%
Dividends paid	13.4	13.7	57.2	-2.2%
Diluted shares, weighted	883m	886m	834m	-0.3%
Shares outstanding at period end	868m	853m	839m	+1.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	3,827	3,811	3,154	+0.4%
Non-controlling interest	185	186	191	-0.9%
Redeemable equity	142	142	142	0.0%
Short-term borrowings	0.0	n/a	n/a
Debt	3,842	4,236	4,432	-9.3%
Operating lease liabilities	219	248	282	-11.6%
Other liabilities	3,868	4,038	3,914	-4.2%
Total liabilities and equity	12,082	12,662	12,116	-4.6%
Fixed assets	719	713	716	+0.8%
Goodwill	3,906	3,988	3,915	-2.1%
Intangible assets	3,566	3,798	3,903	-6.1%
Cash and equivalents	301	247	233	+21.8%
Receivables	442	361	365	+22.4%
Inventory	764	853	662	-10.5%
Other assets	2,386	2,702	2,324	-11.7%
Total assets	12,082	12,662	12,116	-4.6%

10-K for the year ended 30 June 2024, filed 20 August 2024: the filing.