8.4%$5.32B$4.91B
Strong Top-Line Revenue Growth
Revenue grew 8.4% year-over-year to $5.32B in Q1 FY2026, up from $4.91B in the prior-year period, reflecting solid demand across Colgate-Palmolive's product portfolio.
来源: Source: 10-Q Income Statement
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AI核心结论
Colgate-Palmolive (CL) delivered 8.4% revenue growth in Q1 FY2026 to $5.32B, but operating income fell 10.4% to $964M as surging SG&A expenses (+9.4%) compressed operating margin by 380 basis points to 18.1%.
营业收入
$5.32B
同比 ++8.41%
每股收益（基本）
$0.81
同比 -4.71%
毛利率
60.6%
同比 -0.23%
营业利润
$964M
同比 -10.41%
提交于 · 解读更新于 · 来源: SEC EDGAR 10-Q 原文
Colgate Palmolive (CL) Q1 FY2026 营收 $5.32B，同比增长 8.4%。 净利润 $646M，同比下降 6.4%，稀释每股收益 $0.80。 毛利率 60.6%。
Revenue grew 8.4% year-over-year to $5.32B in Q1 FY2026, up from $4.91B in the prior-year period, reflecting solid demand across Colgate-Palmolive's product portfolio.
来源: Source: 10-Q Income Statement
Gross profit increased 8.0% to $3.23B, with gross margin remaining nearly flat at 60.6% versus 60.8% in the prior year, suggesting the company maintained pricing power and managed input costs reasonably well at the product level.
来源: Source: 10-Q Income Statement
SG&A expenses rose 9.4% to $2.08B, outpacing revenue growth and causing operating income to decline 10.4% to $964M. Operating margin contracted sharply from 21.9% to 18.1%, a 380 basis point deterioration.
来源: Source: 10-Q Income Statement
Operating cash flow rose 24.5% year-over-year to $747M, demonstrating strong cash generation despite the earnings pressure, supported by D&A of $156M and working capital management.
来源: Source: 10-Q Cash Flow Statement
Long-term debt increased 20.8% to $7.94B while stockholders' equity collapsed 60.1% to just $145M, driving the debt-to-equity ratio to an extremely elevated 111.2x, reflecting continued capital returns to shareholders via buybacks and dividends.
来源: Source: 10-Q Balance Sheet
Colgate-Palmolive's debt-to-equity ratio stands at an exceptionally high 111.2x, with long-term debt of $7.94B against stockholders' equity of only $145M. This level of leverage leaves the company highly sensitive to interest rate increases and limits financial flexibility in a downturn.
来源: Source: 10-Q Balance Sheet
Operating margin declined sharply from 21.9% to 18.1% year-over-year, a 380 basis point contraction driven by SG&A expenses growing faster than revenue. If this trend continues, it could significantly erode profitability even as top-line growth remains healthy.
来源: Source: 10-Q Income Statement
Net income fell 6.4% to $646M and diluted EPS dropped 5.9% to $0.80, even as revenue grew 8.4%. This divergence between revenue growth and earnings suggests cost pressures are not yet under control and may disappoint investors expecting earnings leverage.
来源: Source: 10-Q Income Statement
Stockholders' equity declined 60.1% year-over-year to just $145M, driven by aggressive share buybacks ($306M in Q1 FY2026) and dividend payments. Continued capital returns at this pace could push equity into negative territory, increasing balance sheet fragility.
来源: Source: 10-Q Balance Sheet
Financing cash outflows increased 22.9% to -$563M, reflecting higher debt service costs and capital return programs. With long-term debt already elevated, the company's ability to sustain buybacks and dividends while managing debt obligations warrants close monitoring.
来源: Source: 10-Q Cash Flow Statement
Q1 FY2026 实际 EPS $0.97，分析师一致预期 $0.97，不及预期 -0.3%。
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营业收入 | $5.32B | $4.91B | +8.41% |
营业成本 | $2.1B | $1.92B | +9.04% |
毛利润 | $3.23B | $2.99B | +8.00% |
营业利润 | $964M | $1.08B | -10.41% |
净利润 | $646M | $690M | -6.38% |
每股收益（基本） | $0.81 | $0.85 | -4.71% |
每股收益（稀释） | $0.80 | $0.85 | -5.88% |
销售及管理费用 | $2.08B | $1.9B | +9.38% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
总资产 | $16.61B | $16.65B | -0.22% |
流动资产 | $6.08B | $5.81B | +4.61% |
总负债 | $16.12B | $15.91B | +1.32% |
流动负债 | $5.93B | $6.86B | -13.51% |
股东权益 | $145M | $363M | -60.06% |
现金及等价物 | $1.33B | $1.11B | +20.05% |
长期债务 | $7.94B | $6.57B | +20.79% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
经营活动现金流 | $747M | $600M | +24.50% |
投资活动现金流 | $-122M | $-159M | +23.27% |
筹资活动现金流 | $-563M | $-458M | -22.93% |
股票回购 | $306M | $284M | +7.75% |
折旧及摊销 | $156M | $148M | +5.41% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
毛利率 | 60.6% | 60.8% | -0.23% |
营业利润率 | 18.1% | 21.9% | -3.80% |
净利率 | 12.1% | — | — |
净资产收益率 | 445.5% | — | — |
总资产收益率 | 3.9% | — | — |
流动比率 | $1.025 | — | — |
资产负债率 | $111.2 | — | — |
Colgate-Palmolive reported diluted EPS of $0.80 in Q1 FY2026, down 5.9% from $0.85 in the prior year. Whether this beat or missed Wall Street consensus estimates would require comparison to analyst forecasts, which are not included in the 10-Q filing itself.
Despite revenue growing 8.4% to $5.32B, operating income fell 10.4% to $964M because SG&A expenses surged 9.4% to $2.08B, growing faster than revenue. This caused operating margin to contract sharply by approximately 380 basis points from 21.9% to 18.1%.
CL's revenue grew 8.4% year-over-year to $5.32B in Q1 FY2026, up from $4.91B in the same quarter of the prior year. Gross profit also grew 8.0% to $3.23B, with gross margin remaining nearly stable at 60.6%.
Colgate-Palmolive's financial health shows a mixed picture: operating cash flow is strong at $747M (+24.5% YoY) and the current ratio is adequate at 1.02x, but the balance sheet is highly leveraged with a debt-to-equity ratio of 111.2x and long-term debt of $7.94B against only $145M in stockholders' equity.
Based on the financial data, key risks include extreme financial leverage (debt-to-equity of 111.2x), sharp operating margin compression (down 380 bps to 18.1%), and rapidly eroding stockholders' equity (down 60.1% to $145M). These factors suggest the company's aggressive capital return program is creating balance sheet vulnerability even as revenue growth remains solid.