Corteva (CTVA) FY2023 results: revenue $17.2 billion, down 1.3% on the year
Corteva, Inc. (CTVA) reported revenue of $17.2 billion for fiscal 2023, the year ended 31 December 2023, down 1.3% on the year before. Net income was $735 million, down 35.9%, and diluted earnings per share $1.03. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$17.2 billion
-1.3% on the year
FY2017FY2023
Operating margin
n/a
FY2017FY2023
Net income
$735 million
-35.9% on the year
FY2017FY2023
Diluted EPS
$1.03
-34.8% on the year
FY2017FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,769
872
2,727
+102.9%
Capital expenditure
595
605
573
-1.7%
Free cash flow
1,174
267
2,154
+339.7%
Free cash flow margin
6.8%
1.5%
13.8%
Cash from investing
-1,987
-632
-362
Cash from financing
-99.0
-1,180
-1,266
Depreciation and amortisation
1,211
1,223
1,243
-1.0%
Buybacks
756
1,000
950
-24.4%
Dividends paid
439
418
397
+5.0%
Dividend per share
$0.58
$0.58
$0.54
0.0%
Diluted shares, weighted
712m
724m
742m
-1.7%
Shares outstanding at period end
701m
713m
727m
-1.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,037
25,302
25,384
-1.0%
Non-controlling interest
242
239
239
+1.3%
Debt
2,489
1,307
1,100
+90.4%
Operating lease liabilities
355
331
338
+7.3%
Finance lease liabilities
1.0
2.0
3.0
-50.0%
Other liabilities
14,872
15,437
15,280
-3.7%
Total liabilities and equity
42,996
42,618
42,344
+0.9%
Fixed assets
4,287
4,254
4,329
+0.8%
Goodwill
10,605
9,962
10,107
+6.5%
Intangible assets
9,626
9,339
10,044
+3.1%
Investments
98.0
124
86.0
-21.0%
Cash and equivalents
2,644
3,191
4,459
-17.1%
Receivables
4,210
4,168
3,441
+1.0%
Inventory
6,899
6,811
5,180
+1.3%
Other assets
4,627
4,769
4,698
-3.0%
Total assets
42,996
42,618
42,344
+0.9%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.