Corteva (CTVA) FY2022 results: revenue $17.5 billion, up 11.5% on the year
Corteva, Inc. (CTVA) reported revenue of $17.5 billion for fiscal 2022, the year ended 31 December 2022, up 11.5% on the year before. Net income was $1.1 billion, down 34.8%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2023.
Revenue
$17.5 billion
+11.5% on the year
FY2017FY2022
Operating margin
n/a
FY2017FY2022
Net income
$1.1 billion
-34.8% on the year
FY2017FY2022
Diluted EPS
$1.58
-33.3% on the year
FY2017FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
872
2,727
2,064
-68.0%
Capital expenditure
605
573
475
+5.6%
Free cash flow
267
2,154
1,589
-87.6%
Free cash flow margin
1.5%
13.8%
11.2%
Cash from investing
-632
-362
-674
Cash from financing
-1,180
-1,266
303
Depreciation and amortisation
1,223
1,243
1,177
-1.6%
Buybacks
1,000
950
275
+5.3%
Dividends paid
418
397
-388
+5.3%
Dividend per share
$0.58
$0.54
$0.52
+7.4%
Diluted shares, weighted
724m
742m
751m
-2.3%
Shares outstanding at period end
713m
727m
743m
-1.8%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
25,302
25,384
24,824
-0.3%
Non-controlling interest
239
239
239
0.0%
Debt
1,307
1,100
1,102
+18.8%
Operating lease liabilities
331
338
391
-2.1%
Finance lease liabilities
2.0
3.0
4.0
-33.3%
Other liabilities
15,437
15,280
16,089
+1.0%
Total liabilities and equity
42,618
42,344
42,649
+0.6%
Fixed assets
4,254
4,329
4,396
-1.7%
Goodwill
9,962
10,107
10,269
-1.4%
Intangible assets
9,339
10,044
10,747
-7.0%
Investments
124
86.0
269
+44.2%
Cash and equivalents
3,191
4,459
3,526
-28.4%
Receivables
4,168
3,441
3,754
+21.1%
Inventory
6,811
5,180
4,882
+31.5%
Other assets
4,769
4,698
4,806
+1.5%
Total assets
42,618
42,344
42,649
+0.6%
10-K for the year ended 31 December 2022, filed 9 February 2023: the filing.