Estee Lauder Companies (EL) FY2023 results: revenue $15.9 billion, down 10.3% on the year
Estee Lauder Companies Inc. (EL) reported revenue of $15.9 billion for fiscal 2023, the year ended 30 June 2023, down 10.3% on the year before. Net income was $1.0 billion, down 57.9%, and diluted earnings per share $2.79. The figures are the company's own, from the 10-K it filed with the SEC on 18 August 2023.
Revenue
$15.9 billion
-10.3% on the year
FY2016FY2023
Operating margin
9.5%
17.9% a year earlier
FY2016FY2023
Net income
$1.0 billion
-57.9% on the year
FY2016FY2023
Diluted EPS
$2.79
-57.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,731
3,040
3,631
-43.1%
Capital expenditure
1,003
1,040
637
-3.6%
Free cash flow
728
2,000
2,994
-63.6%
Free cash flow margin
4.6%
11.3%
18.5%
Cash from investing
-3,217
-945
-1,864
Cash from financing
1,590
-3,036
-1,892
Depreciation and amortisation
744
727
651
+2.3%
Share-based compensation
267
331
327
-19.3%
Buybacks
271
2,309
733
-88.3%
Dividends paid
925
840
753
+10.1%
Dividend per share
$2.58
$2.33
$2.07
+10.7%
Diluted shares, weighted
361m
365m
368m
-1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
5,585
5,590
6,057
-0.1%
Non-controlling interest
n/a
0.0
34.0
Redeemable equity
832
842
857
-1.2%
Debt
8,114
5,412
5,569
+49.9%
Operating lease liabilities
1,698
1,868
2,151
-9.1%
Finance lease liabilities
33.0
10.0
27.0
+230.0%
Other liabilities
7,153
7,188
7,276
-0.5%
Total liabilities and equity
23,415
20,910
21,971
+12.0%
Fixed assets
3,179
2,650
2,280
+20.0%
Goodwill
2,486
2,521
2,616
-1.4%
Intangible assets
5,602
3,428
4,095
+63.4%
Cash and equivalents
4,029
3,957
4,958
+1.8%
Receivables
1,452
1,629
1,702
-10.9%
Inventory
2,979
2,920
2,505
+2.0%
Other assets
3,688
3,805
3,815
-3.1%
Total assets
23,415
20,910
21,971
+12.0%
10-K for the year ended 30 June 2023, filed 18 August 2023: the filing.