Everpure (P) FY2024 results: revenue $2.8 billion, up 2.8% on the year

Everpure, Inc. (P) reported revenue of $2.8 billion for fiscal 2024, the year ended 4 February 2024, up 2.8% on the year before. Net income was $61 million, down 16.1%, and diluted earnings per share $0.19. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2024.

Revenue

$2.8 billion

+2.8% on the year

FY2017FY2024

Operating margin

1.9%

3.0% a year earlier

FY2017FY2024

Net income

$61 million

-16.1% on the year

FY2017FY2024

Diluted EPS

$0.19

-17.4% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,831	2,753	2,181	+2.8%
Cost of revenue	809	856	708	-5.4%
Gross profit	2,021	1,898	1,473	+6.5%
Gross margin	71.4%	68.9%	67.5%
Research and development	737	693	582	+6.4%
Operating income	53.6	83.5	-98.4	-35.9%
Operating margin	1.9%	3.0%	-4.5%
Interest expense	7.5	4.7	36.7	+57.6%
Pre-tax income	90.6	91.8	-128	-1.3%
Income tax	29.3	18.7	14.8	+56.2%
Effective tax rate	32.3%	20.4%	n/a
Net income	61.3	73.1	-143	-16.1%
Net margin	2.2%	2.7%	-6.6%
Diluted EPS	$0.19	$0.23	-$0.50	-17.4%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	678	767	410	-11.7%
Capital expenditure	195	158	102	+23.4%
Free cash flow	483	609	308	-20.8%
Free cash flow margin	17.0%	22.1%	14.1%
Cash from investing	3.2	-221	-153
Cash from financing	-560	-431	-128
Depreciation and amortisation	113	87.0	65.9	+29.4%
Share-based compensation	331	328	287	+1.2%
Buybacks	136	219	200	-38.0%
Diluted shares, weighted	333m	339m	286m	-2.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,270	941	754	+34.9%
Debt	100	575	787	-82.6%
Operating lease liabilities	123	142	93.5	-13.5%
Finance lease liabilities	0.2	4.8	1.5	-96.2%
Other liabilities	2,162	1,880	1,499	+15.0%
Total liabilities and equity	3,656	3,543	3,135	+3.2%
Fixed assets	353	272	195	+29.4%
Goodwill	361	361	359	0.0%
Intangible assets	33.0	49.2	62.6	-32.9%
Securities held for sale or to maturity	829	1,001	947	-17.3%
Cash and equivalents	703	581	466	+20.9%
Receivables	662	612	542	+8.1%
Inventory	42.7	50.2	38.9	-14.9%
Other assets	673	616	524	+9.3%
Total assets	3,656	3,543	3,135	+3.2%

10-K for the year ended 4 February 2024, filed 1 April 2024: the filing.