Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Analysis of Debt
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Colgate-Palmolive Co., consolidated income statement
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net Sales
- Net sales demonstrated a consistent upward trend from 2018 to 2022, increasing from $15,544 million to $17,967 million. This reflects sustained growth in revenue over the five-year period.
- Cost of Sales
- The cost of sales also rose steadily each year, from $6,313 million in 2018 to $7,719 million in 2022. The increase in cost outpaced the growth in sales, which impacted gross profit margins.
- Gross Profit
- Gross profit showed growth from 2018 through 2021, climbing from $9,231 million to $10,375 million, but experienced a slight decline to $10,248 million in 2022, indicating a slight compression in profit margins.
- Selling, General and Administrative Expenses
- These expenses increased consistently from $5,389 million in 2018 to $6,565 million in 2022, reflecting rising operating costs associated with sales and administrative functions.
- Special Items and Adjustments
- Various items such as the Global Growth and Efficiency Program, amortization of intangible assets, acquisition-related costs, and the 2022 Global Productivity Initiative impacted expenses intermittently. Notably, impairment charges to goodwill and intangible assets appeared in 2021 and 2022, with significant amounts of $571 million and $721 million respectively, adversely affecting operating results.
- Operating Profit
- Operating profit increased from 2018 to 2020, peaking at $3,885 million, then declined in 2021 to $3,332 million and further in 2022 to $2,893 million. This decline is attributed partly to rising costs, impairment charges, and other operating expenses.
- Interest and Other Income (Expense)
- Net interest expense remained relatively stable, with minor fluctuations, while other income (expense), net, showed a negative trend overall, particularly peaking negatively in 2019 and then moderating somewhat in subsequent years.
- Income Before Income Taxes and Provision for Income Taxes
- Income before taxes followed a pattern similar to operating profit, rising until 2020 and declining thereafter to $2,660 million in 2022. The provision for income taxes decreased steadily from $906 million in 2018 to $693 million in 2022, implying some reduction in effective tax expenses or taxable income.
- Net Income
- Net income attributable to the company increased in the early years, peaking at $2,695 million in 2020, then declined sharply in 2021 and 2022 to $1,785 million. This downward trend reflects the combined impact of rising costs, impairment charges, and decreased operating profitability.