Procter & Gamble (PG) FY2019 results: revenue $67.7 billion, up 1.3% on the year
Procter & Gamble Co. (PG) reported revenue of $67.7 billion for fiscal 2019, the year ended 30 June 2019, up 1.3% on the year before. Net income was $3.9 billion, down 60.0%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2019.
Revenue
$67.7 billion
+1.3% on the year
FY2012FY2019
Operating margin
8.1%
20.0% a year earlier
FY2012FY2019
Net income
$3.9 billion
-60.0% on the year
FY2012FY2019
Diluted EPS
$1.43
-61.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
67,684
66,832
65,058
+1.3%
Cost of revenue
34,768
34,432
32,638
+1.0%
Gross profit
32,916
32,400
32,420
+1.6%
Gross margin
48.6%
48.5%
49.8%
Research and development
1,900
1,900
1,900
0.0%
Selling, general and administrative
19,084
19,037
18,654
+0.2%
Operating income
5,487
13,363
13,766
-58.9%
Operating margin
8.1%
20.0%
21.2%
Interest expense
509
506
465
+0.6%
Income tax
2,103
3,465
3,063
-39.3%
Net income
3,897
9,750
15,326
-60.0%
Net margin
5.8%
14.6%
23.6%
Diluted EPS
$1.43
$3.67
$5.59
-61.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
15,242
14,867
12,753
+2.5%
Capital expenditure
3,347
3,717
3,384
-10.0%
Free cash flow
11,895
11,150
9,369
+6.7%
Free cash flow margin
17.6%
16.7%
14.4%
Cash from investing
-3,490
-3,511
-6,685
Cash from financing
-9,994
-14,375
-8,568
Depreciation and amortisation
2,824
2,834
2,820
-0.4%
Share-based compensation
515
395
351
+30.4%
Buybacks
5,003
7,004
5,204
-28.6%
Dividends paid
7,498
7,310
7,236
+2.6%
Dividend per share
$3.00
$2.79
$2.70
+7.5%
Diluted shares, weighted
2,540m
2,657m
2,740m
-4.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
47,579
52,883
55,778
-10.0%
Debt
30,092
31,286
31,592
-3.8%
Other liabilities
37,424
34,141
33,036
+9.6%
Total liabilities and equity
115,095
118,310
120,406
-2.7%
Fixed assets
21,271
20,600
19,893
+3.3%
Goodwill
40,273
45,175
44,699
-10.9%
Intangible assets
24,215
23,902
24,187
+1.3%
Investments
6,048
9,281
9,568
-34.8%
Cash and equivalents
4,239
2,569
5,569
+65.0%
Receivables
4,951
4,686
4,594
+5.7%
Inventory
5,017
4,738
4,624
+5.9%
Other assets
9,081
7,359
7,272
+23.4%
Total assets
115,095
118,310
120,406
-2.7%
10-K for the year ended 30 June 2019, filed 6 August 2019: the filing.