Estee Lauder Companies (EL) FY2013 results: revenue $10.2 billion, up 4.8% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $10.2 billion for fiscal 2013, the year ended 30 June 2013, up 4.8% on the year before. Net income was $1.0 billion, up 19.0%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2013.
Revenue
$10.2 billion
+4.8% on the year
FY2009FY2013
Operating margin
15.0%
13.5% a year earlier
FY2009FY2013
Net income
$1.0 billion
+19.0% on the year
FY2009FY2013
Diluted EPS
$2.58
+19.4% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
10,182
9,714
8,810
+4.8%
Cost of revenue
2,026
1,996
1,937
+1.5%
Gross profit
8,156
7,718
6,873
+5.7%
Gross margin
80.1%
79.5%
78.0%
Research and development
147
138
85.7
+6.5%
Selling, general and administrative
6,597
6,325
5,697
+4.3%
Operating income
1,526
1,312
1,089
+16.3%
Operating margin
15.0%
13.5%
12.4%
Interest expense
63.1
n/a
n/a
Pre-tax income
1,475
1,261
1,026
+17.0%
Income tax
451
401
322
+12.7%
Effective tax rate
30.6%
31.8%
31.4%
Net income
1,020
857
701
+19.0%
Net margin
10.0%
8.8%
8.0%
Diluted EPS
$2.58
$2.16
$1.74
+19.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,226
1,127
1,027
+8.8%
Capital expenditure
461
421
351
+9.6%
Free cash flow
765
706
676
+8.4%
Free cash flow margin
7.5%
7.3%
7.7%
Cash from investing
n/a
n/a
-607
Cash from financing
n/a
n/a
-313
Depreciation and amortisation
337
296
294
+13.9%
Share-based compensation
146
125
94.8
+16.9%
Buybacks
388
593
397
-34.6%
Dividends paid
419
204
148
+105.5%
Dividend per share
$1.08
$0.53
$0.38
+105.7%
Diluted shares, weighted
395m
397m
402m
-0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,287
2,733
2,629
+20.3%
Non-controlling interest
15.0
14.3
17.6
+4.9%
Debt
1,344
1,288
1,218
+4.4%
Other liabilities
2,499
2,557
2,409
-2.3%
Total liabilities and equity
7,145
6,593
6,274
+8.4%
Fixed assets
1,351
1,232
1,143
+9.7%
Goodwill
882
883
877
-0.1%
Intangible assets
170
190
228
-10.8%
Cash and equivalents
1,496
1,348
1,253
+11.0%
Receivables
1,172
1,060
946
+10.5%
Inventory
1,114
984
996
+13.2%
Other assets
962
897
832
+7.3%
Total assets
7,145
6,593
6,274
+8.4%
10-K for the year ended 30 June 2013, filed 23 August 2013: the filing.