Everpure (P) FY2023 results: revenue $2.8 billion, up 26.3% on the year

Everpure, Inc. (P) reported revenue of $2.8 billion for fiscal 2023, the year ended 5 February 2023, up 26.3% on the year before. Net income was $73 million, and diluted earnings per share $0.23. The figures are the company's own, from the 10-K it filed with the SEC on 3 April 2023.

Revenue

$2.8 billion

+26.3% on the year

FY2016FY2023

Operating margin

3.0%

-4.5% a year earlier

FY2016FY2023

Net income

$73 million

FY2016FY2023

Diluted EPS

$0.23

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	2,753	2,181	1,684	+26.3%
Cost of revenue	856	708	535	+20.8%
Gross profit	1,898	1,473	1,149	+28.9%
Gross margin	68.9%	67.5%	68.2%
Research and development	693	582	480	+19.0%
Operating income	83.5	-98.4	-261
Operating margin	3.0%	-4.5%	-15.5%
Interest expense	4.7	36.7	31.4	-87.1%
Pre-tax income	91.8	-128	-270
Income tax	18.7	14.8	11.9	+26.9%
Effective tax rate	20.4%	n/a	n/a
Net income	73.1	-143	-282
Net margin	2.7%	-6.6%	-16.7%
Diluted EPS	$0.23	-$0.50	-$1.05

$ 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	FY2023	FY2022	FY2021	On the year
Operating cash flow	767	410	188	+87.1%
Capital expenditure	158	102	95.0	+54.6%
Free cash flow	609	308	92.7	+97.9%
Free cash flow margin	22.1%	14.1%	5.5%
Cash from investing	-221	-153	-418
Cash from financing	-431	-128	200
Depreciation and amortisation	87.0	65.9	57.1	+32.0%
Share-based compensation	328	287	242	+14.2%
Buybacks	219	200	135	+9.4%
Diluted shares, weighted	339m	286m	268m	+18.6%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	941	754	750	+24.8%
Debt	575	787	756	-27.0%
Operating lease liabilities	142	93.5	120	+52.4%
Finance lease liabilities	4.8	1.5	n/a	+220.4%
Other liabilities	1,880	1,499	1,193	+25.4%
Total liabilities and equity	3,543	3,135	2,819	+13.0%
Fixed assets	272	195	163	+39.5%
Goodwill	361	359	359	+0.8%
Intangible assets	49.2	62.6	76.6	-21.4%
Investments	n/a	n/a	916
Securities held for sale or to maturity	1,001	947	n/a	+5.7%
Cash and equivalents	581	466	337	+24.6%
Receivables	612	542	461	+13.0%
Inventory	50.2	38.9	46.7	+28.8%
Other assets	616	524	460	+17.4%
Total assets	3,543	3,135	2,819	+13.0%

10-K for the year ended 5 February 2023, filed 3 April 2023: the filing.