On Oct. 31, Procter & Gamble
- Sales increased, mainly because of the addition of the Gillette business, as well as strong organic growth.
- EPS growth was muted by the increase in share count from Gillette.
- Margins improved across the board.
- Free cash flow grew 35%.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|---|
|
Sales |
$18,562 |
$18,785 |
$14,793 |
27.0% |
|
Net Profit |
-- |
$2,698 |
$2,029 |
33.0% |
|
EPS |
$0.78 |
$0.79 |
$0.77 |
2.6% |
|
Diluted Shares |
-- |
3,413 |
2,650 |
28.8% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
52.81% |
51.61% |
1.20 |
|
Operating Margin |
21.58% |
20.67% |
0.91 |
|
Net Margin |
14.36% |
13.72% |
0.64 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$7,758 |
$8,059 |
(3.7%) |
|
Accounts Rec. |
$6,640 |
$4,690 |
41.6% |
|
Inventory |
$6,790 |
$5,161 |
31.6% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$4,507 |
$3,423 |
31.7% |
|
Long-Term Debt |
$35,727 |
$21,046 |
69.8% |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$2,953 |
$2,171 |
36.0% |
|
Capital Expenditures |
$570 |
$401 |
42.1% |
|
Free Cash Flow |
$2,383 |
$1,770 |
34.6% |
Find out why Fools always follow the money.
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