COTY INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data COTY INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	7,650	9,398	6,288	4,718	4,630	5,304	5,554	6,118	5,893	5,807
Cost of revenue	3,028	2,718	2,499	1,991	1,862	1,935	2,007	2,179	2,072	2,155
Gross profit	4,622	4,124	3,789	2,727	2,768	3,369	3,547	3,939	3,821	3,652
Research and development	139	108	98.5	93.4	96.5	97.3	105	127	123	121
Selling, general and administrative	4,041	3,807	3,468	3,120	2,363	2,881	2,818	3,162	3,103	3,108
Selling and marketing							1,480	1,626	1,574	1,607
Operating income	-421	-156	-3,688	-1,237	-48.6	241	544	547	241	-81.5
Interest expense	220	223	252	233	232	241	261	252	227	184
Interest income	4.4	13.6	19.2	5.4	3.5	7.2	15.4	16.1	16.6	18.4
Other non-operating income	-18.5	-27.7	-31.8	11.6	43.9	410	419	-90.2	-372	-374
Pre-tax income	-658	-395	-3,945	-1,468	-240	427	705	205	-345	-610
Income tax	-260	-32.2	-54.8	-378	-172	165	182	95.1	5.4	-20
Income from continuing operations		-403	-3,905	-1,094	-64	254	508	89.4	-368	-605
Net income	-422	-169	-3,784	-1,007	-201	260	508	89.4	-368	-605
EBITDA	134	582	-2,952	-520	537	757	970	968	661	401
EPS, basic	-0.66	-0.23	-5.04	-1.33	-0.40	0.08	0.58	0.09	-0.44	-0.70
EPS, diluted	-0.66	-0.23	-5.04	-1.33	-0.40	0.08	0.57	0.09	-0.44	-0.70
Shares, basic (weighted)	643	750	751	759	765	821	849	874	871	877
Shares, diluted (weighted)	643	750	751	759	765	834	887	883	871	877
Dividend per share	0.65	0.50	0.50	0.38

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	535	332	340	308	254	233	247	301	257	176
Receivables	1,470	1,536	859	440	348	365	361	442	526	526
Inventory	1,053	1,149	860	678	651	662	853	764	795	839
Other current assets	488	83.3	58.2	34	39.7	46	55.4	142	264	281
Total current assets	3,582	3,651	3,271	6,495	1,783	1,682	2,052	1,964	1,953	1,918
Property, plant and equipment	1,632	1,681	1,333	1,082	918	716	713	719	709	650
Lease right-of-use assets			0	371	319	321	287	255	266	227
Goodwill	8,556	7,596	4,167	3,974	4,118	3,915	3,988	3,906	4,062	3,810
Intangible assets	8,425	8,284	4,531	4,372	4,463	3,903	3,798	3,566	3,215	2,776
Other non-current assets	281	300	103	72.4	55.9	85.9	166	92.1	139	183
Total assets	22,548	22,630	17,710	16,729	13,691	12,116	12,662	12,083	11,908	10,200
Accounts payable	1,732	1,929	1,584	1,190	1,166	1,268	1,445	1,406	1,890	1,875
Accrued liabilities	1,796	1,844	1,189	1,112	1,096	1,097	1,042	475	514	466
Deferred revenue	15.8	25.5	13.5	10	10.1	21.5	6.9	7.5
Short-term debt	209	219	194	188	24.2	23	57.9	3	3.5	14.4
Total current liabilities	3,804	4,044	3,475	3,586	2,415	2,566	2,737	2,602	2,538	2,541
Long-term debt	6,928	7,305	7,470	7,892	5,401	4,409	4,178	3,842	3,956	3,033
Lease liabilities			0	317	269	282	248	219	222	183
Other non-current liabilities	473	389	398	335	328	340	325	347	485	426
Total liabilities	12,679	13,114	12,665	12,705	9,509	8,558	8,428	7,835	7,952	6,821
Total debt	6,928	7,305	7,470	7,892	5,401	4,409	4,178	3,842	3,956	3,033
Paid-in capital	11,203	10,751	10,621	10,447	10,376	10,806	10,899	11,308	11,330	11,367
Retained earnings	-459	-626	-4,541	-5,549	-5,756	-5,496	-4,988	-4,899	-5,266	-5,878
Treasury stock	-1,442	-1,442	-1,442	-1,446	-1,446	-1,446	-1,446	-1,797	-1,797	-1,788
Other comprehensive income	4.4	159	-58.8	-456	-322	-718	-662	-795	-733	-720
Shareholders' equity	9,315	8,850	4,587	3,005	2,861	3,155	3,811	3,827	3,543	2,990
Minority interests	3	5.5	6.5	224	202	191	186	185	176	172
Total equity	9,318	8,855	4,593	3,229	3,062	3,346	3,997	4,012	3,719	3,162
Total liabilities and equity	22,548	22,630	17,710	16,729	13,691	12,116	12,662	12,083	11,908	10,200
Shares outstanding	748	751	754	765	766	839	853	868	872	881

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-399	-128	-3,770	-1,003	-205	268	523	109	-350	-590
Depreciation and amortization	555	737	736	717	585	516	427	421	420	482
Stock-based compensation	24.6	30.6	14.8	29.8	29.9	196	136	88.8	50	46.3
Deferred income tax	-390	-8.3	-193	-468	-246	12.1	56.3	-9.8	-87.5	-155
Change in receivables	-280	-79.6	345	425	10.5	-77.2	36.8	-105	-81.1	-5.4
Change in inventory	162	-60	-21.9	124	81.2	-48.3	-180	67.2	4.8	-50.5
Change in payables	541	160	-127	-374	-49.7	141	138	-19.4	-168	13.6
Cash from operations	758	414	640	-50.9	319	727	626	615	493	538
Capital expenditures	-432	-446	-427	-267	-174	-174	-223	-245	-215	-190
Acquisitions	-743	-278	-40.8	-592	0
Purchases of investments								0	0	-30.7
Cash from investing	-1,164	-688	-454	-833	2,442	270	-118	-226	-128	539
Debt issued	1,075	7,467	0	0
Debt repaid	-136	-6,493	-190	-186	-3,895
Stock issued	22.8	22.6	5.9	2.7	0	0	0.9	13.5
Share buybacks	-36.3	0	0	-4.5	0
Dividends paid	-373	-375	-345	-195	-25.7	-57.2	-13.7	-13.4	-13.3	-13.2
Cash from financing	595	69.3	-160	877	-2,795	-1,034	-469	-337	-427	-1,161
Exchange rate effect	9.2	-3.9	-7.1	-21.4	-7.1	-8.9	-18.2	-14.9	12.4	2.9
Net change in cash	198	-209	18.2	-28.4	-41.6	-46.6	20	36.8	-50.2	-81.5
Free cash flow	325	-32.7	213	-318	145	553	403	369	278	348
Interest paid	190	243	291	281	231	215	229	206	219	175
Income taxes paid	90.1	125	110	123	15.9	97.2	58.6	173	95.4	102

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $2.65 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	62.9%	Gross profit / revenue.
Operating margin	-1.4%	Operating income / revenue.
EBITDA margin	6.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-10.5%	Pre-tax income / revenue.
Net margin	-10.4%	Net income / revenue.
FCF margin	6.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.3%	Cash from operations / revenue.
Return on equity (ROE)	-18.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-5.5%	Net income / average total assets.
Return on invested capital (ROIC)	-1.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.1%	Research and development expense / revenue.
SG&A / revenue	53.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.3%	Capital expenditures / revenue.
D&A / revenue	8.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-133.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-39.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-25.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-5.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	25.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-4.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	19.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-15.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-14.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-7.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-5.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.75x	Current assets / current liabilities.
Quick ratio	0.28x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.01x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	29.7%	Total debt / total assets.
Liabilities / assets	66.9%	Total liabilities / total assets.
Net debt	$2.86B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	7.13x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.44x	Operating income / interest expense.
Working capital	-$622.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	64.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.60B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.53x	Revenue / average total assets.
Fixed asset turnover	8.54x	Revenue / average property, plant and equipment.
Inventory turnover	2.64x	Cost of revenue / average inventory.
Days inventory	138 days	365 x average inventory / cost of revenue.
Receivables turnover	11.0x	Revenue / average receivables.
Days sales outstanding	33 days	365 x average receivables / revenue.
Days payables	319 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-147 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	35.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.70	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.70	Net income per basic share, as reported (split-adjusted).
Revenue per share	$6.62	Revenue / diluted weighted shares.
FCF per share	$0.40	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.61	Cash from operations / diluted weighted shares.
Book value per share	$3.40	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$4.08	Tangible book value / shares outstanding.
Cash per share	$0.20	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	3.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.33B	Share price x shares outstanding.
Enterprise value	$5.19B	Market cap + total debt - cash - short-term investments.
P/S	0.40x	Market cap / revenue.
P/B	0.78x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	6.70x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.34x	Market cap / cash from operations, when positive.
EV/Sales	0.89x	Enterprise value / revenue.
EV/EBITDA	13.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	14.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	14.9%	Free cash flow / market cap.
Earnings yield	-25.9%	Net income / market cap (the inverse of P/E).
Dividend yield	0.6%	Dividends paid over the period / market cap.
Shareholder yield	0.6%	(Dividends paid + share buybacks) / market cap.

What was COTY INC.'s revenue in fiscal 2026?

COTY INC. reported revenue of $5.81B for fiscal 2026, 1.5% lower than the year before.

Was COTY INC. profitable in fiscal 2026?

No. It reported a net loss of $604.8M.

How much free cash flow did COTY INC. generate in fiscal 2026?

Cash from operations of $537.8M minus capital expenditures of $189.6M left free cash flow of $348.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to COTY INC.