Estee Lauder Companies (EL) FY2016 results: revenue $11.3 billion, up 4.5% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $11.3 billion for fiscal 2016, the year ended 30 June 2016, up 4.5% on the year before. Net income was $1.1 billion, up 2.4%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 24 August 2016.
Revenue
$11.3 billion
+4.5% on the year
FY2009FY2016
Operating margin
14.3%
14.9% a year earlier
FY2009FY2016
Net income
$1.1 billion
+2.4% on the year
FY2009FY2016
Diluted EPS
$2.96
+5.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
11,262
10,780
10,969
+4.5%
Cost of revenue
2,181
2,101
2,158
+3.8%
Gross profit
9,081
8,680
8,811
+4.6%
Gross margin
80.6%
80.5%
80.3%
Research and development
n/a
n/a
158
Selling, general and administrative
7,338
7,074
6,986
+3.7%
Operating income
1,610
1,606
1,828
+0.2%
Operating margin
14.3%
14.9%
16.7%
Interest expense
71.0
60.0
59.4
+18.3%
Pre-tax income
1,555
1,561
1,777
-0.3%
Income tax
434
467
568
-7.0%
Effective tax rate
27.9%
29.9%
32.0%
Net income
1,115
1,089
1,204
+2.4%
Net margin
9.9%
10.1%
11.0%
Diluted EPS
$2.96
$2.82
$3.06
+5.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,789
1,943
1,535
-7.9%
Capital expenditure
525
473
510
+11.1%
Free cash flow
1,264
1,470
1,025
-14.0%
Free cash flow margin
11.2%
13.6%
9.3%
Cash from investing
-1,269
-1,616
n/a
Cash from financing
-605
-895
n/a
Depreciation and amortisation
415
409
385
+1.3%
Share-based compensation
184
165
153
+11.5%
Buybacks
890
983
667
-9.5%
Dividends paid
422
350
302
+20.7%
Dividend per share
$1.14
$0.92
$0.78
+23.9%
Diluted shares, weighted
377m
386m
393m
-2.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,572
3,643
3,855
-2.0%
Non-controlling interest
15.0
11.1
14.5
+35.1%
Debt
2,242
1,625
1,343
+37.9%
Other liabilities
3,395
2,960
2,656
+14.7%
Total liabilities and equity
9,223
8,239
7,869
+11.9%
Fixed assets
1,583
1,490
1,503
+6.2%
Goodwill
1,228
1,145
893
+7.3%
Intangible assets
344
327
157
+5.5%
Investments
1,577
924
13.6
+70.7%
Cash and equivalents
914
1,021
1,629
-10.5%
Receivables
1,258
1,174
1,379
+7.1%
Inventory
1,263
1,216
1,294
+3.9%
Other assets
1,055
942
1,000
+12.0%
Total assets
9,223
8,239
7,869
+11.9%
10-K for the year ended 30 June 2016, filed 24 August 2016: the filing.