Edgewell Personal Care (EPC) FY2021 results: revenue $2.1 billion, up 7.1% on the year

Edgewell Personal Care Co. (EPC) reported revenue of $2.1 billion for fiscal 2021, the year ended 30 September 2021, up 7.1% on the year before. Net income was $118 million, up 74.3%, and diluted earnings per share $2.12. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2021.

Revenue

$2.1 billion

+7.1% on the year

FY2014FY2021

Operating margin

11.5%

9.0% a year earlier

FY2014FY2021

Net income

$118 million

+74.3% on the year

FY2014FY2021

Diluted EPS

$2.12

+71.0% on the year

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	2,087	1,950	2,141	+7.1%
Cost of revenue	1,137	1,069	1,174	+6.4%
Gross profit	950	881	967	+7.9%
Gross margin	45.5%	45.2%	45.1%
Research and development	57.8	55.3	53.5	+4.5%
Operating income	240	176	244	+36.3%
Operating margin	11.5%	9.0%	11.4%
Interest expense	67.9	61.2	62.6	+10.9%
Pre-tax income	147	87.3	-390	+68.5%
Income tax	29.3	19.7	-18.1	+48.7%
Effective tax rate	19.9%	22.6%	n/a
Net income	118	67.6	-372	+74.3%
Net margin	5.6%	3.5%	-17.4%
Diluted EPS	$2.12	$1.24	-$6.88	+71.0%

$ million except per share.

Free 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
Operating cash flow	229	233	191	-1.5%
Capital expenditure	56.8	47.7	58.0	+19.1%
Free cash flow	172	185	133	-6.9%
Free cash flow margin	8.2%	9.5%	6.2%
Cash from investing	-48.7	-196	-45.5
Cash from financing	-65.4	-18.7	-63.8
Depreciation and amortisation	87.1	88.8	93.8	-1.9%
Share-based compensation	27.3	19.2	17.8	+42.2%
Buybacks	9.2	0.0	0.0
Dividends paid	25.6	0.0	0.0
Diluted shares, weighted	55m	55m	54m	+1.1%
Shares outstanding at period end	54m	54m	54m	+0.0%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	1,591	1,439	1,304	+10.6%
Debt	1,261	1,259	1,229	+0.1%
Operating lease liabilities	46.9	34.6	0.0	+35.5%
Other liabilities	776	809	888	-4.0%
Total liabilities and equity	3,675	3,541	3,421	+3.8%
Fixed assets	363	371	396	-2.2%
Goodwill	1,163	1,160	1,033	+0.3%
Intangible assets	906	928	913	-2.3%
Cash and equivalents	479	365	342	+31.4%
Receivables	151	159	206	-5.1%
Inventory	346	314	357	+10.1%
Other assets	267	245	175	+9.2%
Total assets	3,675	3,541	3,421	+3.8%

10-K for the year ended 30 September 2021, filed 19 November 2021: the filing.