Estee Lauder Companies (EL) FY2020 results: revenue $14.3 billion, down 3.8% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $14.3 billion for fiscal 2020, the year ended 30 June 2020, down 3.8% on the year before. Net income was $684 million, down 61.7%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2020.
Revenue
$14.3 billion
-3.8% on the year
FY2013FY2020
Operating margin
4.2%
15.6% a year earlier
FY2013FY2020
Net income
$684 million
-61.7% on the year
FY2013FY2020
Diluted EPS
$1.86
-61.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
14,294
14,863
13,683
-3.8%
Cost of revenue
3,552
3,387
2,844
+4.9%
Gross profit
10,742
11,476
10,839
-6.4%
Gross margin
75.2%
77.2%
79.2%
Selling, general and administrative
8,637
8,857
8,556
-2.5%
Operating income
606
2,313
2,052
-73.8%
Operating margin
4.2%
15.6%
15.0%
Interest expense
161
133
128
+21.1%
Pre-tax income
1,046
2,307
1,980
-54.7%
Income tax
350
513
863
-31.8%
Effective tax rate
33.5%
22.2%
43.6%
Net income
684
1,785
1,108
-61.7%
Net margin
4.8%
12.0%
8.1%
Diluted EPS
$1.86
$4.82
$2.95
-61.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,280
2,517
2,562
-9.4%
Capital expenditure
623
744
629
-16.3%
Free cash flow
1,657
1,773
1,933
-6.5%
Free cash flow margin
11.6%
11.9%
14.1%
Cash from investing
-1,698
473
-358
Cash from financing
1,461
-2,173
-1,172
Depreciation and amortisation
611
557
531
+9.7%
Share-based compensation
213
243
236
-12.3%
Buybacks
893
1,555
759
-42.6%
Dividends paid
503
609
546
-17.4%
Dividend per share
$1.39
$1.67
$1.48
-16.8%
Diluted shares, weighted
367m
370m
376m
-0.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,935
4,386
4,688
-10.3%
Non-controlling interest
27.0
25.0
22.0
+8.0%
Redeemable equity
0.0
n/a
n/a
Debt
6,136
3,412
3,544
+79.8%
Operating lease liabilities
2,278
n/a
n/a
Finance lease liabilities
5.0
n/a
n/a
Other liabilities
5,400
5,333
4,313
+1.3%
Total liabilities and equity
17,781
13,156
12,567
+35.2%
Fixed assets
2,055
2,068
1,823
-0.6%
Goodwill
1,401
1,868
1,926
-25.0%
Intangible assets
2,338
1,203
1,276
+94.3%
Investments
n/a
177
1,377
Cash and equivalents
5,022
2,987
2,181
+68.1%
Receivables
1,194
1,831
1,487
-34.8%
Inventory
2,062
2,006
1,618
+2.8%
Other assets
3,709
1,016
879
+265.1%
Total assets
17,781
13,156
12,567
+35.2%
10-K for the year ended 30 June 2020, filed 28 August 2020: the filing.