Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.3B | $11.8B | $13.7B | $14.9B | $14.3B | $16.2B | $17.7B | $15.9B | $15.6B | $14.3B |
| Revenue growth | — | 5.0% | 15.7% | 8.6% | -3.8% | 13.4% | 9.4% | -10.3% | -1.9% | -8.2% |
| Gross profit | $9.08B | $9.39B | $10.8B | $11.5B | $10.7B | $12.4B | $13.4B | $11.3B | $11.2B | $10.6B |
| Gross margin | 80.6% | 79.4% | 79.2% | 77.2% | 75.2% | 76.4% | 75.7% | 71.3% | 71.7% | 74.0% |
| Operating income | $1.61B | $1.70B | $2.06B | $2.31B | $606M | $2.62B | $3.17B | $1.51B | $970M | -$785M |
| Operating margin | 14.3% | 14.4% | 15.0% | 15.6% | 4.2% | 16.1% | 17.9% | 9.5% | 6.2% | -5.5% |
| Net income | $1.12B | $1.26B | $1.12B | $1.79B | $696M | $2.88B | $2.41B | $1.01B | $409M | -$1.13B |
| Net margin | 10.0% | 10.6% | 8.2% | 12.1% | 4.9% | 17.7% | 13.6% | 6.3% | 2.6% | -7.9% |
| EPS (diluted) | $2.96 | $3.35 | $2.95 | $4.82 | $1.86 | $7.79 | $6.55 | $2.79 | $1.08 | -$3.15 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.79B | $1.79B | $2.56B | $2.52B | $2.28B | $3.63B | $3.04B | $1.73B | $2.36B | $1.27B |
| Capital expenditures | $525M | $504M | $629M | $744M | $623M | $637M | $1.04B | $1.00B | $919M | $602M |
| Free cash flow | $1.26B | $1.29B | $1.93B | $1.77B | $1.66B | $2.99B | $2.00B | $728M | $1.44B | $670M |
| Share buybacks | $890M | $413M | $759M | $1.55B | $893M | $733M | $2.31B | $271M | $35.0M | $35.0M |
| Dividends paid | $423M | $486M | $546M | $609M | $503M | $753M | $840M | $925M | $947M | $618M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $914M | $1.14B | $2.18B | $2.99B | $5.02B | $4.96B | $3.96B | $4.03B | $3.40B | $2.92B |
| Total assets | $9.22B | $11.6B | $12.6B | $13.2B | $17.8B | $22.0B | $20.9B | $23.4B | $21.7B | $19.9B |
| Total liabilities | — | — | — | $8.74B | — | — | — | — | — | — |
| Shareholders' equity | $3.59B | $4.40B | $4.71B | $4.41B | $3.96B | $6.09B | $5.59B | $5.58B | $5.31B | $3.87B |
| Retained earnings | $7.69B | $8.45B | $9.04B | $9.98B | $10.1B | $12.2B | $13.9B | $14.0B | $13.4B | $11.7B |
| Shares (wtd avg diluted) | 377M | 373M | 376M | 370M | 367M | 368M | 365M | 361M | 361M | 360M |
Every figure is extracted from ESTEE LAUDER COMPANIES INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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