Ralph Lauren (RL) FY2021 results: revenue $4.4 billion, down 28.6% on the year
Ralph Lauren Corp. (RL) reported revenue of $4.4 billion for fiscal 2021, the year ended 27 March 2021, down 28.6% on the year before. Net income was -$121 million, and diluted earnings per share $-1.65. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2021.
Revenue
$4.4 billion
-28.6% on the year
FY2014FY2021
Operating margin
-1.0%
5.1% a year earlier
FY2014FY2021
Net income
-$121 million
FY2014FY2021
Diluted EPS
-$1.65
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
4,401
6,160
6,313
-28.6%
Cost of revenue
1,539
2,506
2,427
-38.6%
Gross profit
2,861
3,653
3,886
-21.7%
Gross margin
65.0%
59.3%
61.6%
Selling, general and administrative
2,638
3,238
3,168
-18.5%
Operating income
-43.6
317
562
Operating margin
-1.0%
5.1%
8.9%
Interest expense
48.5
17.6
20.7
+175.6%
Pre-tax income
-74.8
326
582
Income tax
46.3
-57.9
152
Effective tax rate
n/a
-17.7%
26.0%
Net income
-121
384
431
Net margin
-2.8%
6.2%
6.8%
Diluted EPS
-$1.65
$4.98
$5.27
$ 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
381
755
784
-49.5%
Capital expenditure
108
270
198
-60.1%
Free cash flow
273
484
586
-43.6%
Free cash flow margin
6.2%
7.9%
9.3%
Cash from investing
195
702
-879
-72.2%
Cash from financing
357
-438
-606
Depreciation and amortisation
248
270
281
-8.1%
Share-based compensation
72.7
101
88.6
-27.7%
Buybacks
37.7
695
503
-94.6%
Dividends paid
49.8
204
191
-75.6%
Dividend per share
$0.00
$2.75
$2.50
Diluted shares, weighted
74m
77m
82m
-4.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,604
2,693
3,287
-3.3%
Debt
1,633
1,171
689
+39.4%
Operating lease liabilities
1,294
1,568
0.0
-17.5%
Finance lease liabilities
370
189
213
+95.6%
Other liabilities
1,985
1,658
1,754
+19.7%
Total liabilities and equity
7,888
7,280
5,943
+8.3%
Fixed assets
1,014
980
1,039
+3.5%
Goodwill
935
916
920
+2.1%
Intangible assets
121
141
164
-14.1%
Investments
198
496
1,448
-60.2%
Cash and equivalents
2,579
1,620
584
+59.2%
Receivables
452
277
398
+62.9%
Inventory
759
736
818
+3.1%
Other assets
1,831
2,114
572
-13.4%
Total assets
7,888
7,280
5,943
+8.3%
10-K for the year ended 27 March 2021, filed 20 May 2021: the filing.