Colgate Palmolive
CL · NYSEPerfumes, Cosmetics & Other Toilet Preparations · Fiscal year ends Dec 31
Colgate Palmolive reported revenue of $20.4B in the fiscal year ended Dec 2025, up 1.4% from the year before. Operating income was $3.3B, an operating margin of 16.2%, and net income was $2.1B. Operating cash flow of $4.2B less capital expenditure of $564M left free cash flow of $3.6B. Net debt was $6.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $17.4B | $18B | $19.5B | $20.1B | $20.4B |
| Cost of revenue | $7B | $7.7B | $8.1B | $7.9B | $8.1B |
| Gross profit | $10.4B | $10.2B | $11.3B | $12.2B | $12.3B |
| Research & development | $307M | $320M | $343M | $355M | $366M |
| Selling, general & admin | $6.4B | $6.6B | $7.2B | $7.7B | $7.9B |
| Operating income | $3.3B | $2.9B | $4B | $4.3B | $3.3B |
| Interest expense | $120M | $167M | $287M | $292M | $267M |
| Pre-tax income | $3.1B | $2.7B | $3.4B | $4B | $3.1B |
| Income tax | $749M | $693M | $937M | $907M | $798M |
| Net income | $2.2B | $1.8B | $2.3B | $2.9B | $2.1B |
| Diluted EPS | 2.55 | 2.13 | 2.77 | 3.51 | 2.63 |
| Diluted shares | 848M | 839M | 829M | 823M | 811M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $832M | $775M | $966M | $1.1B | $1.3B |
| Receivables | $1.3B | $1.5B | $1.6B | $1.5B | $1.7B |
| Inventory | $1.7B | $2.1B | $1.9B | $2B | $2B |
| Current assets | $4.4B | $5.1B | $5.3B | $5.3B | $5.7B |
| Net PP&E | $3.7B | $4.3B | $4.6B | $4.4B | $4.7B |
| Goodwill | $3.3B | $3.4B | $3.4B | $3.3B | $3.1B |
| Total assets | $15B | $15.7B | $16.4B | $16B | $16.3B |
| Payables | $1.5B | $1.6B | $1.7B | $1.8B | $2.1B |
| Current liabilities | $4.1B | $4B | $4.7B | $5.8B | $6.9B |
| Short-term debt | $12M | $14M | $20M | $652M | $1.1B |
| Long-term debt | $7.2B | $8.7B | $8.2B | $7.3B | $6.9B |
| Total liabilities | $14.1B | $14.9B | $15.4B | $15.5B | $16B |
| Shareholders' equity | $609M | $401M | $609M | $212M | $54M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $3.3B | $2.6B | $3.7B | $4.1B | $4.2B |
| Capital expenditure | $567M | $696M | $705M | $561M | $564M |
| Free cash flow | $2.8B | $1.9B | $3B | $3.5B | $3.6B |
| Depreciation & amortisation | $556M | $545M | $567M | $605M | $630M |
| Stock-based compensation | $135M | $125M | $122M | $135M | $155M |
| Acquisitions | $0 | $809M | $0 | $0 | $293M |
| Share buybacks | $1.3B | $1.3B | $1.1B | $1.7B | $1.2B |
| Dividend per share | 1.79 | 1.86 | 1.91 | 2.48 | 2.08 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 3.1% | 8.3% | 3.3% | 1.4% |
| Operating income growth (YoY) | – | −13.2% | 37.7% | 7.1% | −22.5% |
| EPS growth (YoY) | – | −16.5% | 30.0% | 26.7% | −25.1% |
| Gross margin | 59.6% | 57.0% | 58.2% | 60.5% | 60.1% |
| Operating margin | 19.1% | 16.1% | 20.5% | 21.2% | 16.2% |
| Net margin | 12.4% | 9.9% | 11.8% | 14.4% | 10.5% |
| Return on equityBlank when equity is negative | 355.7% | 445.1% | 377.7% | 1362.7% | 3948.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 30.3% | 24.7% | 34.2% | 41.5% | 34.9% |
| Free cash flow margin | 15.8% | 10.4% | 15.6% | 17.6% | 17.8% |
| Cash conversion (CFO ÷ net income) | 1.54x | 1.43x | 1.63x | 1.42x | 1.97x |
| Receivable days | 27 | 31 | 30 | 28 | 30 |
| Inventory days | 88 | 98 | 87 | 91 | 91 |
| Payable days | 77 | 73 | 76 | 83 | 94 |
| Interest cover | 27.8x | 17.3x | 13.9x | 14.6x | 12.4x |
| Debt ÷ equity | 11.8x | 21.8x | 13.5x | 37.5x | 148x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $6.4B | $8B | $7.3B | $6.8B | $6.7B |
| Current ratio | 1.09x | 1.28x | 1.11x | 0.92x | 0.83x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.