Ralph Lauren (RL) FY2020 results: revenue $6.2 billion, down 2.4% on the year
Ralph Lauren Corp. (RL) reported revenue of $6.2 billion for fiscal 2020, the year ended 28 March 2020, down 2.4% on the year before. Net income was $384 million, down 10.8%, and diluted earnings per share $4.98. The figures are the company's own, from the 10-K it filed with the SEC on 27 May 2020.
Revenue
$6.2 billion
-2.4% on the year
FY2013FY2020
Operating margin
5.1%
8.9% a year earlier
FY2013FY2020
Net income
$384 million
-10.8% on the year
FY2013FY2020
Diluted EPS
$4.98
-5.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,160
6,313
6,182
-2.4%
Cost of revenue
2,506
2,427
2,431
+3.3%
Gross profit
3,653
3,886
3,752
-6.0%
Gross margin
59.3%
61.6%
60.7%
Selling, general and administrative
3,238
3,168
3,096
+2.2%
Operating income
317
562
498
-43.6%
Operating margin
5.1%
8.9%
8.1%
Interest expense
17.6
20.7
18.2
-15.0%
Pre-tax income
326
582
489
-44.0%
Income tax
-57.9
152
326
Effective tax rate
-17.7%
26.0%
66.7%
Net income
384
431
163
-10.8%
Net margin
6.2%
6.8%
2.6%
Diluted EPS
$4.98
$5.27
$1.97
-5.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
755
784
975
-3.7%
Capital expenditure
270
198
162
+36.7%
Free cash flow
484
586
814
-17.4%
Free cash flow margin
7.9%
9.3%
13.2%
Cash from investing
702
-879
-189
Cash from financing
-438
-606
-198
Depreciation and amortisation
270
281
295
-4.2%
Share-based compensation
101
88.6
74.5
+13.5%
Buybacks
695
503
17.1
+38.2%
Dividends paid
204
191
162
+6.9%
Dividend per share
$2.75
$2.50
$2.00
+10.0%
Diluted shares, weighted
77m
82m
82m
-5.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,693
3,287
3,457
-18.1%
Debt
1,171
689
596
+69.9%
Operating lease liabilities
1,568
0.0
n/a
Finance lease liabilities
189
213
n/a
-10.9%
Other liabilities
1,658
1,754
2,090
-5.5%
Total liabilities and equity
7,280
5,943
6,143
+22.5%
Fixed assets
980
1,039
1,186
-5.7%
Goodwill
916
920
950
-0.4%
Intangible assets
141
164
188
-13.9%
Investments
496
1,448
786
-65.8%
Cash and equivalents
1,620
584
1,305
+177.4%
Receivables
277
398
421
-30.4%
Inventory
736
818
761
-10.0%
Other assets
2,114
572
546
+269.6%
Total assets
7,280
5,943
6,143
+22.5%
10-K for the year ended 28 March 2020, filed 27 May 2020: the filing.