Estee Lauder Companies (EL) FY2012 results: revenue $9.7 billion, up 10.3% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $9.7 billion for fiscal 2012, the year ended 30 June 2012, up 10.3% on the year before. Net income was $857 million, up 22.3%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 17 August 2012.
Revenue
$9.7 billion
+10.3% on the year
FY2009FY2012
Operating margin
13.5%
12.4% a year earlier
FY2009FY2012
Net income
$857 million
+22.3% on the year
FY2009FY2012
Diluted EPS
$2.16
+24.1% on the year
FY2009FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
9,714
8,810
7,796
+10.3%
Cost of revenue
1,996
1,937
1,829
+3.0%
Gross profit
7,718
6,873
5,966
+12.3%
Gross margin
79.5%
78.0%
76.5%
Research and development
138
85.7
79.5
+60.8%
Selling, general and administrative
6,325
5,697
5,067
+11.0%
Operating income
1,312
1,089
790
+20.4%
Operating margin
13.5%
12.4%
10.1%
Pre-tax income
1,261
1,026
688
+23.0%
Income tax
401
322
206
+24.5%
Effective tax rate
31.8%
31.4%
29.9%
Net income
857
701
478
+22.3%
Net margin
8.8%
8.0%
6.1%
Diluted EPS
$2.16
$1.74
$1.19
+24.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,127
1,027
957
+9.7%
Capital expenditure
421
351
271
+19.9%
Free cash flow
706
676
686
+4.4%
Free cash flow margin
7.3%
7.7%
8.8%
Cash from investing
n/a
-607
-281
Cash from financing
n/a
-313
-406
Depreciation and amortisation
296
294
264
+0.5%
Share-based compensation
125
94.8
57.0
+31.5%
Buybacks
593
397
267
+49.4%
Dividends paid
204
148
109
+37.8%
Dividend per share
$0.53
$0.38
$0.28
+40.0%
Diluted shares, weighted
397m
402m
401m
-1.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,733
2,629
1,948
+3.9%
Non-controlling interest
14.3
17.6
17.0
-18.8%
Debt
1,288
1,218
1,228
+5.7%
Other liabilities
2,557
2,409
2,142
+6.2%
Total liabilities and equity
6,593
6,274
5,336
+5.1%
Fixed assets
1,232
1,143
1,024
+7.8%
Goodwill
883
877
752
+0.6%
Intangible assets
190
228
110
-16.4%
Cash and equivalents
1,348
1,253
1,121
+7.6%
Receivables
1,060
946
746
+12.1%
Inventory
984
996
827
-1.2%
Other assets
897
832
756
+7.8%
Total assets
6,593
6,274
5,336
+5.1%
10-K for the year ended 30 June 2012, filed 17 August 2012: the filing.