Estee Lauder Companies (EL) FY2021 results: revenue $16.2 billion, up 13.4% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $16.2 billion for fiscal 2021, the year ended 30 June 2021, up 13.4% on the year before. Net income was $2.9 billion, up 319.6%, and diluted earnings per share $7.79. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2021.
Revenue
$16.2 billion
+13.4% on the year
FY2014FY2021
Operating margin
16.1%
4.2% a year earlier
FY2014FY2021
Net income
$2.9 billion
+319.6% on the year
FY2014FY2021
Diluted EPS
$7.79
+318.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
16,215
14,294
14,863
+13.4%
Cost of revenue
3,834
3,552
3,387
+7.9%
Gross profit
12,381
10,742
11,476
+15.3%
Gross margin
76.4%
75.2%
77.2%
Selling, general and administrative
9,371
8,637
8,857
+8.5%
Operating income
2,618
606
2,313
+332.0%
Operating margin
16.1%
4.2%
15.6%
Interest expense
173
161
133
+7.5%
Pre-tax income
3,331
1,046
2,307
+218.5%
Income tax
456
350
513
+30.3%
Effective tax rate
13.7%
33.5%
22.2%
Net income
2,870
684
1,785
+319.6%
Net margin
17.7%
4.8%
12.0%
Diluted EPS
$7.79
$1.86
$4.82
+318.8%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
3,631
2,280
2,517
+59.3%
Capital expenditure
637
623
744
+2.2%
Free cash flow
2,994
1,657
1,773
+80.7%
Free cash flow margin
18.5%
11.6%
11.9%
Cash from investing
-1,864
-1,698
473
Cash from financing
-1,892
1,461
-2,173
Depreciation and amortisation
651
611
557
+6.5%
Share-based compensation
327
213
243
+53.5%
Buybacks
733
893
1,555
-17.9%
Dividends paid
753
503
609
+49.7%
Dividend per share
$2.07
$1.39
$1.67
+48.9%
Diluted shares, weighted
368m
367m
370m
+0.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,057
3,935
4,386
+53.9%
Non-controlling interest
34.0
27.0
25.0
+25.9%
Redeemable equity
857
0.0
n/a
Debt
5,569
6,136
3,412
-9.2%
Operating lease liabilities
2,151
2,278
n/a
-5.6%
Finance lease liabilities
27.0
5.0
n/a
+440.0%
Other liabilities
7,276
5,400
5,333
+34.7%
Total liabilities and equity
21,971
17,781
13,156
+23.6%
Fixed assets
2,280
2,055
2,068
+10.9%
Goodwill
2,616
1,401
1,868
+86.7%
Intangible assets
4,095
2,338
1,203
+75.1%
Investments
n/a
n/a
177
Cash and equivalents
4,958
5,022
2,987
-1.3%
Receivables
1,702
1,194
1,831
+42.5%
Inventory
2,505
2,062
2,006
+21.5%
Other assets
3,815
3,709
1,016
+2.9%
Total assets
21,971
17,781
13,156
+23.6%
10-K for the year ended 30 June 2021, filed 27 August 2021: the filing.