Estee Lauder Companies (EL) FY2019 results: revenue $14.9 billion, up 8.6% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $14.9 billion for fiscal 2019, the year ended 30 June 2019, up 8.6% on the year before. Net income was $1.8 billion, up 61.1%, and diluted earnings per share $4.82. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2019.
Revenue
$14.9 billion
+8.6% on the year
FY2012FY2019
Operating margin
15.6%
15.0% a year earlier
FY2012FY2019
Net income
$1.8 billion
+61.1% on the year
FY2012FY2019
Diluted EPS
$4.82
+63.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
14,863
13,683
11,824
+8.6%
Cost of revenue
3,387
2,844
2,437
+19.1%
Gross profit
11,476
10,839
9,387
+5.9%
Gross margin
77.2%
79.2%
79.4%
Selling, general and administrative
8,857
8,556
7,469
+3.5%
Operating income
2,313
2,052
1,704
+12.7%
Operating margin
15.6%
15.0%
14.4%
Interest expense
133
128
103
+3.9%
Pre-tax income
2,307
1,980
1,617
+16.5%
Income tax
513
863
361
-40.6%
Effective tax rate
22.2%
43.6%
22.3%
Net income
1,785
1,108
1,249
+61.1%
Net margin
12.0%
8.1%
10.6%
Diluted EPS
$4.82
$2.95
$3.35
+63.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,517
2,562
1,790
-1.8%
Capital expenditure
744
629
504
+18.3%
Free cash flow
1,773
1,933
1,286
-8.3%
Free cash flow margin
11.9%
14.1%
10.9%
Cash from investing
473
-358
-2,204
Cash from financing
-2,173
-1,172
630
Depreciation and amortisation
557
531
464
+4.9%
Share-based compensation
243
236
219
+3.0%
Buybacks
1,555
759
413
+104.9%
Dividends paid
609
546
486
+11.5%
Dividend per share
$1.67
$1.48
$1.32
+12.8%
Diluted shares, weighted
370m
376m
373m
-1.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,386
4,688
4,384
-6.4%
Non-controlling interest
25.0
22.0
18.0
+13.6%
Debt
3,412
3,544
3,572
-3.7%
Other liabilities
5,333
4,313
3,594
+23.6%
Total liabilities and equity
13,156
12,567
11,568
+4.7%
Fixed assets
2,068
1,823
1,671
+13.4%
Goodwill
1,868
1,926
1,916
-3.0%
Intangible assets
1,203
1,276
1,327
-5.7%
Investments
177
1,377
1,631
-87.1%
Cash and equivalents
2,987
2,181
1,136
+37.0%
Receivables
1,831
1,487
1,395
+23.1%
Inventory
2,006
1,618
1,479
+24.0%
Other assets
1,016
879
1,013
+15.6%
Total assets
13,156
12,567
11,568
+4.7%
10-K for the year ended 30 June 2019, filed 23 August 2019: the filing.