Analysis of Inventory
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Colgate-Palmolive Co. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Analysis of Debt
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Inventory Disclosure
Colgate-Palmolive Co., balance sheet: inventory
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials and supplies | |||||||||||
| Work-in-process | |||||||||||
| Finished goods | |||||||||||
| Inventories, net | |||||||||||
| Non-current inventory, net | |||||||||||
| Current inventories, net |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Item | Description | The company |
|---|---|---|
| Current inventories, net | Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. | Colgate-Palmolive Co. current inventories, net increased from 2020 to 2021 and from 2021 to 2022. |
Adjustment to Inventory: Conversion from LIFO to FIFO
Adjusting LIFO Inventory to FIFO (Current) Cost
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Colgate-Palmolive Co. inventory value on Dec 31, 2022 would be $2,220) (in millions) if the FIFO inventory method was used instead of LIFO. Colgate-Palmolive Co. inventories, valued on a LIFO basis, on Dec 31, 2022 were $2,074). Colgate-Palmolive Co. inventories would have been $146) higher than reported on Dec 31, 2022 if the FIFO method had been used instead.
Colgate-Palmolive Co., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: LIFO vs. FIFO (Summary)
Colgate-Palmolive Co., adjusted financial ratios
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Colgate-Palmolive Co. adjusted current ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Colgate-Palmolive Co. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Colgate-Palmolive Co. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Colgate-Palmolive Co. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Colgate-Palmolive Co. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Colgate-Palmolive Co. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |
Colgate-Palmolive Co., Financial Ratios: Reported vs. Adjusted
Adjusted Current Ratio
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =
| Liquidity ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Colgate-Palmolive Co. adjusted current ratio improved from 2020 to 2021 and from 2021 to 2022. |
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 Net profit margin = 100 × Net income attributable to Colgate-Palmolive Company ÷ Net sales
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Net sales
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Colgate-Palmolive Co. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Colgate-Palmolive Co. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 Financial leverage = Total assets ÷ Total Colgate-Palmolive Company shareholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Colgate-Palmolive Company shareholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Colgate-Palmolive Co. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 ROE = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total Colgate-Palmolive Company shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Adjusted total Colgate-Palmolive Company shareholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Colgate-Palmolive Co. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2022 Calculations
1 ROA = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Colgate-Palmolive Co. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |