Procter & Gamble (PG) FY2018 results: revenue $66.8 billion, up 2.7% on the year
Procter & Gamble Co. (PG) reported revenue of $66.8 billion for fiscal 2018, the year ended 30 June 2018, up 2.7% on the year before. Net income was $9.8 billion, down 36.4%, and diluted earnings per share $3.67. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2019.
Revenue
$66.8 billion
+2.7% on the year
FY2011FY2018
Operating margin
20.0%
21.2% a year earlier
FY2011FY2018
Net income
$9.8 billion
-36.4% on the year
FY2011FY2018
Diluted EPS
$3.67
-34.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
66,832
65,058
65,299
+2.7%
Cost of revenue
34,432
32,638
33,024
+5.5%
Gross profit
32,400
32,420
32,275
-0.1%
Gross margin
48.5%
49.8%
49.4%
Research and development
1,900
1,900
1,900
0.0%
Selling, general and administrative
19,037
18,654
19,017
+2.1%
Operating income
13,363
13,766
13,258
-2.9%
Operating margin
20.0%
21.2%
20.3%
Interest expense
506
465
579
+8.8%
Income tax
3,465
3,063
3,342
+13.1%
Net income
9,750
15,326
10,508
-36.4%
Net margin
14.6%
23.6%
16.1%
Diluted EPS
$3.67
$5.59
$3.69
-34.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
14,867
12,753
15,435
+16.6%
Capital expenditure
3,717
3,384
3,314
+9.8%
Free cash flow
11,150
9,369
12,121
+19.0%
Free cash flow margin
16.7%
14.4%
18.6%
Cash from investing
-3,511
-6,685
-4,579
Cash from financing
-14,375
-8,568
-9,213
Depreciation and amortisation
2,834
2,820
3,078
+0.5%
Share-based compensation
395
351
335
+12.5%
Buybacks
7,004
5,204
4,004
+34.6%
Dividends paid
7,310
7,236
7,436
+1.0%
Dividend per share
$2.79
$2.70
$2.66
+3.3%
Diluted shares, weighted
2,657m
2,740m
2,844m
-3.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
52,883
55,778
57,983
-5.2%
Debt
31,286
31,592
30,598
-1.0%
Other liabilities
34,141
33,036
38,555
+3.3%
Total liabilities and equity
118,310
120,406
127,136
-1.7%
Fixed assets
20,600
19,893
19,385
+3.6%
Goodwill
45,175
44,699
44,350
+1.1%
Intangible assets
23,902
24,187
24,527
-1.2%
Investments
9,281
9,568
6,246
-3.0%
Cash and equivalents
2,569
5,569
8,098
-53.9%
Receivables
4,686
4,594
4,373
+2.0%
Inventory
4,738
4,624
4,716
+2.5%
Other assets
7,359
7,272
15,441
+1.2%
Total assets
118,310
120,406
127,136
-1.7%
10-K for the year ended 30 June 2018, filed 6 August 2019: the filing.