Procter & Gamble (PG) FY2021 results: revenue $76.1 billion, up 7.3% on the year
Procter & Gamble Co. (PG) reported revenue of $76.1 billion for fiscal 2021, the year ended 30 June 2021, up 7.3% on the year before. Net income was $14.3 billion, up 9.8%, and diluted earnings per share $5.50. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2021.
Revenue
$76.1 billion
+7.3% on the year
FY2014FY2021
Operating margin
23.6%
22.1% a year earlier
FY2014FY2021
Net income
$14.3 billion
+9.8% on the year
FY2014FY2021
Diluted EPS
$5.50
+10.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
76,118
70,950
67,684
+7.3%
Cost of revenue
37,108
35,250
34,768
+5.3%
Gross profit
39,010
35,700
32,916
+9.3%
Gross margin
51.2%
50.3%
48.6%
Research and development
1,900
1,800
1,900
+5.6%
Selling, general and administrative
21,024
19,994
19,084
+5.2%
Operating income
17,986
15,706
5,487
+14.5%
Operating margin
23.6%
22.1%
8.1%
Interest expense
502
465
509
+8.0%
Income tax
3,263
2,731
2,103
+19.5%
Net income
14,306
13,027
3,897
+9.8%
Net margin
18.8%
18.4%
5.8%
Diluted EPS
$5.50
$4.96
$1.43
+10.9%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
18,371
17,403
15,242
+5.6%
Capital expenditure
2,787
3,073
3,347
-9.3%
Free cash flow
15,584
14,330
11,895
+8.8%
Free cash flow margin
20.5%
20.2%
17.6%
Cash from investing
-2,834
3,045
-3,490
Cash from financing
-21,531
-8,367
-9,994
Depreciation and amortisation
2,735
3,013
2,824
-9.2%
Share-based compensation
540
558
515
-3.2%
Buybacks
11,009
7,405
5,003
+48.7%
Dividends paid
8,263
7,789
7,498
+6.1%
Dividend per share
$3.24
$3.03
$3.00
+7.0%
Diluted shares, weighted
2,601m
2,626m
2,540m
-0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
46,654
46,878
47,579
-0.5%
Debt
31,988
34,720
30,092
-7.9%
Operating lease liabilities
631
652
n/a
-3.2%
Other liabilities
40,034
38,450
37,424
+4.1%
Total liabilities and equity
119,307
120,700
115,095
-1.2%
Fixed assets
21,686
20,692
21,271
+4.8%
Goodwill
40,924
39,901
40,273
+2.6%
Intangible assets
23,642
23,792
24,215
-0.6%
Investments
n/a
n/a
6,048
Cash and equivalents
10,288
16,181
4,239
-36.4%
Receivables
4,725
4,178
4,951
+13.1%
Inventory
5,983
5,498
5,017
+8.8%
Other assets
12,059
10,458
9,081
+15.3%
Total assets
119,307
120,700
115,095
-1.2%
10-K for the year ended 30 June 2021, filed 6 August 2021: the filing.