Marzetti (MZTI) FY2023 results: revenue $1.8 billion, up 8.7% on the year
Marzetti Co. (MZTI) reported revenue of $1.8 billion for fiscal 2023, the year ended 30 June 2023, up 8.7% on the year before. Net income was $111 million, up 24.2%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2023.
Revenue
$1.8 billion
+8.7% on the year
FY2016FY2023
Operating margin
7.8%
6.7% a year earlier
FY2016FY2023
Net income
$111 million
+24.2% on the year
FY2016FY2023
Diluted EPS
$4.04
+24.3% 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
226
102
174
+121.9%
Capital expenditure
90.2
132
87.9
-31.7%
Free cash flow
136
-30.2
86.3
Free cash flow margin
7.4%
-1.8%
5.9%
Cash from investing
-90.8
-132
-89.0
Cash from financing
-107
-97.3
-95.4
Depreciation and amortisation
51.2
45.9
44.5
+11.6%
Share-based compensation
9.1
9.6
7.1
-5.0%
Buybacks
9.2
7.6
8.5
+21.7%
Dividends paid
92.4
86.8
81.2
+6.5%
Dividend per share
$3.35
$3.15
$2.95
+6.3%
Diluted shares, weighted
27m
27m
28m
+0.0%
Shares outstanding at period end
28m
28m
28m
+0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
862
845
843
+2.1%
Debt
0.0
0.0
0.0
Operating lease liabilities
17.0
20.5
17.2
-17.2%
Finance lease liabilities
2.3
4.3
6.7
-47.8%
Other liabilities
232
221
234
+4.8%
Total liabilities and equity
1,113
1,090
1,101
+2.1%
Fixed assets
482
451
365
+6.8%
Goodwill
208
208
208
0.0%
Intangible assets
4.8
32.3
58.8
-85.0%
Cash and equivalents
88.5
60.3
188
+46.8%
Receivables
115
135
97.9
-15.2%
Inventory
158
145
122
+9.4%
Other assets
55.9
57.8
61.7
-3.4%
Total assets
1,113
1,090
1,101
+2.1%
10-K for the year ended 30 June 2023, filed 23 August 2023: the filing.