Procter & Gamble (PG) FY2011 results: revenue $81.1 billion, up 4.6% on the year
Procter & Gamble Co. (PG) reported revenue of $81.1 billion for fiscal 2011, the year ended 30 June 2011, up 4.6% on the year before. Net income was $11.8 billion, down 7.4%, and diluted earnings per share $3.93. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2011.
Revenue
$81.1 billion
+4.6% on the year
FY2007FY2011
Operating margin
19.1%
20.3% a year earlier
FY2007FY2011
Net income
$11.8 billion
-7.4% on the year
FY2007FY2011
Diluted EPS
$3.93
-4.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
81,104
77,567
76,694
+4.6%
Cost of revenue
39,859
37,042
38,690
+7.6%
Gross profit
41,245
40,525
38,004
+1.8%
Gross margin
50.9%
52.2%
49.6%
Research and development
2,000
n/a
n/a
Selling, general and administrative
25,750
24,793
22,630
+3.9%
Operating income
15,495
15,732
15,374
-1.5%
Operating margin
19.1%
20.3%
20.0%
Interest expense
831
946
1,358
-12.2%
Income tax
3,299
4,017
3,733
-17.9%
Net income
11,797
12,736
13,436
-7.4%
Net margin
14.5%
16.4%
17.5%
Diluted EPS
$3.93
$4.11
$4.26
-4.4%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
13,330
16,131
14,983
-17.4%
Capital expenditure
3,306
3,067
3,238
+7.8%
Free cash flow
10,024
13,064
11,745
-23.3%
Free cash flow margin
12.4%
16.8%
15.3%
Cash from investing
-3,482
-597
-2,353
Cash from financing
-10,122
-17,314
-10,878
Depreciation and amortisation
2,838
3,108
3,082
-8.7%
Share-based compensation
414
453
516
-8.6%
Buybacks
7,039
6,004
6,370
+17.2%
Dividends paid
5,767
5,458
5,044
+5.7%
Dividend per share
$1.97
$1.80
$1.64
+9.4%
Diluted shares, weighted
3,002m
3,099m
3,154m
-3.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
68,001
61,439
63,382
+10.7%
Debt
32,014
21,924
27,593
+46.0%
Other liabilities
38,339
44,809
43,858
-14.4%
Total liabilities and equity
138,354
128,172
134,833
+7.9%
Fixed assets
21,293
19,244
19,462
+10.6%
Goodwill
57,562
54,012
56,512
+6.6%
Intangible assets
32,620
31,636
32,606
+3.1%
Cash and equivalents
2,768
2,879
4,781
-3.9%
Receivables
6,275
5,335
5,836
+17.6%
Inventory
7,379
6,384
6,880
+15.6%
Other assets
10,457
8,682
8,756
+20.4%
Total assets
138,354
128,172
134,833
+7.9%
10-K for the year ended 30 June 2011, filed 10 August 2011: the filing.