Estee Lauder Companies (EL) FY2018 results: revenue $13.7 billion, up 15.7% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $13.7 billion for fiscal 2018, the year ended 30 June 2018, up 15.7% on the year before. Net income was $1.1 billion, down 11.3%, and diluted earnings per share $2.95. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2019.
Revenue
$13.7 billion
+15.7% on the year
FY2011FY2018
Operating margin
15.0%
14.4% a year earlier
FY2011FY2018
Net income
$1.1 billion
-11.3% on the year
FY2011FY2018
Diluted EPS
$2.95
-11.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
13,683
11,824
11,262
+15.7%
Cost of revenue
2,844
2,437
2,181
+16.7%
Gross profit
10,839
9,387
9,081
+15.5%
Gross margin
79.2%
79.4%
80.6%
Selling, general and administrative
8,556
7,469
7,338
+14.6%
Operating income
2,052
1,704
1,610
+20.4%
Operating margin
15.0%
14.4%
14.3%
Interest expense
128
103
71.0
+24.3%
Pre-tax income
1,980
1,617
1,555
+22.4%
Income tax
863
361
434
+139.1%
Effective tax rate
43.6%
22.3%
27.9%
Net income
1,108
1,249
1,115
-11.3%
Net margin
8.1%
10.6%
9.9%
Diluted EPS
$2.95
$3.35
$2.96
-11.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,562
1,790
1,789
+43.1%
Capital expenditure
629
504
525
+24.8%
Free cash flow
1,933
1,286
1,264
+50.3%
Free cash flow margin
14.1%
10.9%
11.2%
Cash from investing
-358
-2,204
-1,269
Cash from financing
-1,172
630
-605
Depreciation and amortisation
531
464
415
+14.4%
Share-based compensation
236
219
184
+7.8%
Buybacks
759
413
890
+83.8%
Dividends paid
546
486
422
+12.3%
Dividend per share
$1.48
$1.32
$1.14
+12.1%
Diluted shares, weighted
376m
373m
377m
+0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,688
4,384
3,572
+6.9%
Non-controlling interest
22.0
18.0
15.0
+22.2%
Debt
3,544
3,572
2,242
-0.8%
Other liabilities
4,313
3,594
3,395
+20.0%
Total liabilities and equity
12,567
11,568
9,223
+8.6%
Fixed assets
1,823
1,671
1,583
+9.1%
Goodwill
1,926
1,916
1,228
+0.5%
Intangible assets
1,276
1,327
344
-3.8%
Investments
1,377
1,631
1,577
-15.6%
Cash and equivalents
2,181
1,136
914
+92.0%
Receivables
1,487
1,395
1,258
+6.6%
Inventory
1,618
1,479
1,263
+9.4%
Other assets
879
1,013
1,055
-13.2%
Total assets
12,567
11,568
9,223
+8.6%
10-K for the year ended 30 June 2018, filed 23 August 2019: the filing.