Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Colgate-Palmolive Co., adjusted financial ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported	1.14	1.16	1.03	1.04	1.28
Adjusted	1.14	1.16	1.04	1.05	1.22
Liquidity Ratio
Current Ratio
Reported	1.28	1.09	0.99	1.03	1.14
Adjusted	1.34	1.12	1.02	1.09	1.23
Solvency Ratios
Debt to Equity
Reported	21.86	11.90	10.23	67.07	—
Adjusted	7.08	5.93	5.78	7.53	11.14
Debt to Capital
Reported	0.96	0.92	0.91	0.99	1.02
Adjusted	0.88	0.86	0.85	0.88	0.92
Financial Leverage
Reported	39.23	24.70	21.43	128.50	—
Adjusted	12.08	11.35	11.11	13.32	20.37
Profitability Ratios
Net Profit Margin
Reported	9.93%	12.43%	16.36%	15.08%	15.44%
Adjusted	12.44%	12.73%	15.81%	14.96%	15.29%
Return on Equity (ROE)
Reported	445.14%	355.67%	362.72%	2,023.08%	—
Adjusted	170.74%	168.03%	183.25%	208.53%	378.95%
Return on Assets (ROA)
Reported	11.35%	14.40%	16.93%	15.74%	19.74%
Adjusted	14.13%	14.80%	16.50%	15.66%	18.60%

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).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Colgate-Palmolive Co. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Colgate-Palmolive Co. adjusted current ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Colgate-Palmolive Co. adjusted debt-to-equity ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Colgate-Palmolive Co. adjusted debt-to-capital ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Colgate-Palmolive Co. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Colgate-Palmolive Co. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Colgate-Palmolive Co. adjusted ROE deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Colgate-Palmolive Co. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.

Colgate-Palmolive Co., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net sales	17,967)	17,421)	16,471)	15,693)	15,544)
Total assets	15,731)	15,040)	15,920)	15,034)	12,161)
Activity Ratio
Total asset turnover¹	1.14	1.16	1.03	1.04	1.28
Adjusted
Selected Financial Data (US$ in millions)
Net sales	17,967)	17,421)	16,471)	15,693)	15,544)
Adjusted total assets²	15,812)	14,985)	15,783)	14,995)	12,774)
Activity Ratio
Adjusted total asset turnover³	1.14	1.16	1.04	1.05	1.22

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).

¹ 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= 17,967 ÷ 15,731 = 1.14

² Adjusted total assets. See details »

³ 2022 Calculation
Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 17,967 ÷ 15,812 = 1.14

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Colgate-Palmolive Co. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Current assets	5,113)	4,397)	4,338)	4,179)	3,793)
Current liabilities	4,004)	4,051)	4,404)	4,038)	3,341)
Liquidity Ratio
Current ratio¹	1.28	1.09	0.99	1.03	1.14
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	5,329)	4,535)	4,492)	4,317)	3,938)
Adjusted current liabilities³	3,965)	4,044)	4,383)	3,953)	3,193)
Liquidity Ratio
Adjusted current ratio⁴	1.34	1.12	1.02	1.09	1.23

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).

¹ 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 5,113 ÷ 4,004 = 1.28

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2022 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 5,329 ÷ 3,965 = 1.34

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Colgate-Palmolive Co. adjusted current ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt	8,766)	7,245)	7,601)	7,847)	6,366)
Total Colgate-Palmolive Company shareholders’ equity	401)	609)	743)	117)	(102)
Solvency Ratio
Debt to equity¹	21.86	11.90	10.23	67.07	—
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	9,271)	7,833)	8,214)	8,483)	6,986)
Adjusted total equity³	1,309)	1,320)	1,421)	1,126)	627)
Solvency Ratio
Adjusted debt to equity⁴	7.08	5.93	5.78	7.53	11.14

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).

¹ 2022 Calculation
Debt to equity = Total debt ÷ Total Colgate-Palmolive Company shareholders’ equity
= 8,766 ÷ 401 = 21.86

² Adjusted total debt. See details »

³ Adjusted total equity. See details »

⁴ 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 9,271 ÷ 1,309 = 7.08

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Colgate-Palmolive Co. adjusted debt-to-equity ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt	8,766)	7,245)	7,601)	7,847)	6,366)
Total capital	9,167)	7,854)	8,344)	7,964)	6,264)
Solvency Ratio
Debt to capital¹	0.96	0.92	0.91	0.99	1.02
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	9,271)	7,833)	8,214)	8,483)	6,986)
Adjusted total capital³	10,580)	9,153)	9,635)	9,609)	7,613)
Solvency Ratio
Adjusted debt to capital⁴	0.88	0.86	0.85	0.88	0.92

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).

¹ 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,766 ÷ 9,167 = 0.96

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 9,271 ÷ 10,580 = 0.88

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Colgate-Palmolive Co. adjusted debt-to-capital ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets	15,731)	15,040)	15,920)	15,034)	12,161)
Total Colgate-Palmolive Company shareholders’ equity	401)	609)	743)	117)	(102)
Solvency Ratio
Financial leverage¹	39.23	24.70	21.43	128.50	—
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	15,812)	14,985)	15,783)	14,995)	12,774)
Adjusted total equity³	1,309)	1,320)	1,421)	1,126)	627)
Solvency Ratio
Adjusted financial leverage⁴	12.08	11.35	11.11	13.32	20.37

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).

¹ 2022 Calculation
Financial leverage = Total assets ÷ Total Colgate-Palmolive Company shareholders’ equity
= 15,731 ÷ 401 = 39.23

² Adjusted total assets. See details »

³ Adjusted total equity. See details »

⁴ 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 15,812 ÷ 1,309 = 12.08

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Colgate-Palmolive Co. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Colgate-Palmolive Company	1,785)	2,166)	2,695)	2,367)	2,400)
Net sales	17,967)	17,421)	16,471)	15,693)	15,544)
Profitability Ratio
Net profit margin¹	9.93%	12.43%	16.36%	15.08%	15.44%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interests²	2,235)	2,218)	2,604)	2,348)	2,376)
Net sales	17,967)	17,421)	16,471)	15,693)	15,544)
Profitability Ratio
Adjusted net profit margin³	12.44%	12.73%	15.81%	14.96%	15.29%

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).

¹ 2022 Calculation
Net profit margin = 100 × Net income attributable to Colgate-Palmolive Company ÷ Net sales
= 100 × 1,785 ÷ 17,967 = 9.93%

² Adjusted net income including noncontrolling interests. See details »

³ 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income including noncontrolling interests ÷ Net sales
= 100 × 2,235 ÷ 17,967 = 12.44%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Colgate-Palmolive Co. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Colgate-Palmolive Company	1,785)	2,166)	2,695)	2,367)	2,400)
Total Colgate-Palmolive Company shareholders’ equity	401)	609)	743)	117)	(102)
Profitability Ratio
ROE¹	445.14%	355.67%	362.72%	2,023.08%	—
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interests²	2,235)	2,218)	2,604)	2,348)	2,376)
Adjusted total equity³	1,309)	1,320)	1,421)	1,126)	627)
Profitability Ratio
Adjusted ROE⁴	170.74%	168.03%	183.25%	208.53%	378.95%

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).

¹ 2022 Calculation
ROE = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total Colgate-Palmolive Company shareholders’ equity
= 100 × 1,785 ÷ 401 = 445.14%

² Adjusted net income including noncontrolling interests. See details »

³ Adjusted total equity. See details »

⁴ 2022 Calculation
Adjusted ROE = 100 × Adjusted net income including noncontrolling interests ÷ Adjusted total equity
= 100 × 2,235 ÷ 1,309 = 170.74%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Colgate-Palmolive Co. adjusted ROE deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Colgate-Palmolive Company	1,785)	2,166)	2,695)	2,367)	2,400)
Total assets	15,731)	15,040)	15,920)	15,034)	12,161)
Profitability Ratio
ROA¹	11.35%	14.40%	16.93%	15.74%	19.74%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interests²	2,235)	2,218)	2,604)	2,348)	2,376)
Adjusted total assets³	15,812)	14,985)	15,783)	14,995)	12,774)
Profitability Ratio
Adjusted ROA⁴	14.13%	14.80%	16.50%	15.66%	18.60%

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).

¹ 2022 Calculation
ROA = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total assets
= 100 × 1,785 ÷ 15,731 = 11.35%

² Adjusted net income including noncontrolling interests. See details »

³ Adjusted total assets. See details »

⁴ 2022 Calculation
Adjusted ROA = 100 × Adjusted net income including noncontrolling interests ÷ Adjusted total assets
= 100 × 2,235 ÷ 15,812 = 14.13%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Colgate-Palmolive Co. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.

Colgate-Palmolive Co. (NYSE:CL)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Colgate-Palmolive Co., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)