Revenue growth recovered to 8.4% in 2026Q1, though operating margins have compressed from 23.2% in 2024Q1 to 21.7% due to scaling SG&A expenses.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 20.8B | 20.38B | 20.1B | 19.46B | 17.97B | 17.42B | 16.47B | 15.69B | 15.54B | 15.45B | 15.2B | 16.03B | 17.28B | 17.42B | 17.09B | 16.73B | 15.56B | 15.33B | 15.33B | 13.79B | 12.24B | 11.4B | 10.58B | 9.9B | 9.29B | 9.43B | 9.36B | 9.12B | 8.97B | 9.06B | 8.75B |
| Revenue Growth % | 4.26% | 1.4% | 3.31% | 8.29% | 3.13% | 5.77% | 4.96% | 0.96% | 0.58% | 1.7% | -5.23% | -7.19% | -0.82% | 1.96% | 2.1% | 7.52% | 1.55% | -0.02% | 11.17% | 12.68% | 7.38% | 7.68% | 6.87% | 6.55% | -1.42% | 0.75% | 2.63% | 1.63% | -0.94% | 3.52% | 4.68% |
| Cost of Goods Sold | 8.3B | 8.13B | 8B | 8.21B | 7.82B | 7.13B | 6.54B | 6.42B | 6.34B | 6.13B | 6.06B | 6.66B | 7.17B | 7.2B | 7.17B | 7.12B | 6.39B | 6.3B | 6.66B | 5.92B | 5.36B | 5.11B | 4.76B | 4.46B | 4.22B | 4.24B | 4.27B | 3.88B | 3.96B | 4.14B | 4.13B |
| COGS % of Revenue | - | 39.89% | 39.77% | 42.18% | 43.51% | 40.92% | 39.69% | 40.88% | 40.77% | 39.67% | 39.9% | 41.56% | 41.51% | 41.35% | 41.96% | 42.54% | 41.03% | 41.12% | 43.47% | 42.95% | 43.77% | 44.81% | 44.95% | 45% | 45.45% | 44.94% | 45.58% | 42.59% | 44.14% | 45.73% | 47.26% |
| Gross Profit | 12.49B | 12.25B | 12.11B | 11.25B | 10.15B | 10.29B | 9.93B | 9.28B | 9.21B | 9.32B | 9.13B | 9.37B | 10.11B | 10.22B | 9.92B | 9.62B | 9.18B | 9.02B | 8.67B | 7.87B | 6.88B | 6.29B | 5.83B | 5.45B | 5.07B | 5.19B | 5.09B | 5.23B | 5.01B | 4.92B | 4.61B |
| Gross Margin % | 60.06% | 60.11% | 60.23% | 57.82% | 56.49% | 59.08% | 60.31% | 59.12% | 59.23% | 60.33% | 60.1% | 58.44% | 58.49% | 58.65% | 58.04% | 57.46% | 58.97% | 58.88% | 56.53% | 57.05% | 56.23% | 55.19% | 55.05% | 55% | 54.55% | 55.06% | 54.42% | 57.41% | 55.86% | 54.27% | 52.74% |
| Gross Profit Growth % | - | 1.2% | 7.6% | 10.85% | -1.39% | 3.62% | 7.07% | 0.77% | -1.26% | 2.09% | -2.54% | -7.27% | -1.1% | 3.04% | 3.13% | 4.76% | 1.71% | 4.13% | 10.15% | 14.33% | 9.41% | 7.96% | 6.95% | 7.44% | -2.33% | 1.93% | -2.71% | 4.45% | 1.96% | 6.52% | 7.17% |
| Operating Expenses | 8.09B | 7.9B | 7.72B | 7.12B | 6.57B | 6.41B | 6.02B | 5.51B | 5.36B | 5.31B | 5.17B | 5.4B | 5.92B | 6.09B | 5.91B | 5.75B | 5.41B | 5.28B | 5.34B | 4.93B | 4.31B | 3.92B | 3.62B | 3.22B | 3.06B | 3.33B | 3.37B | 3.59B | 3.53B | 3.56B | 3.37B |
| OpEx % of Revenue | - | 38.77% | 38.42% | 36.59% | 36.54% | 36.78% | 36.56% | 35.14% | 34.46% | 34.39% | 34.04% | 33.68% | 34.27% | 34.94% | 34.59% | 34.35% | 34.79% | 34.46% | 34.84% | 35.75% | 35.21% | 34.39% | 34.25% | 32.53% | 32.89% | 35.32% | 36.03% | 39.42% | 39.32% | 39.27% | 38.5% |
| Selling, General & Admin | 8.12B | 7.9B | 7.81B | 6.78B | 6.25B | 6.1B | 5.73B | 5.23B | 5.08B | 5.03B | 4.88B | 5.13B | 5.64B | 5.82B | 5.65B | 5.49B | 5.16B | 5.01B | 5.09B | 4.68B | 4.07B | 3.67B | 3.4B | 3.3B | 3.03B | 3.26B | 3.3B | 3.25B | 3.2B | 3.24B | 3.05B |
| SG&A % of Revenue | - | 38.77% | 38.85% | 34.83% | 34.76% | 35.02% | 34.8% | 33.35% | 32.67% | 32.54% | 32.14% | 31.97% | 32.66% | 33.4% | 33.08% | 32.78% | 33.14% | 32.71% | 33.19% | 33.92% | 33.24% | 32.23% | 32.08% | 33.28% | 32.64% | 34.6% | 35.26% | 35.69% | 35.64% | 35.74% | 34.89% |
| Research & Development | 0 | 0 | 355M | 343M | 320M | 307M | 290M | 281M | 277M | 285M | 289M | 274M | 277M | 267M | 259M | 262M | 256M | 269M | 253.1M | 247M | 241.5M | 246.3M | 229.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 1.77% | 1.76% | 1.78% | 1.76% | 1.76% | 1.79% | 1.78% | 1.84% | 1.9% | 1.71% | 1.6% | 1.53% | 1.52% | 1.57% | 1.64% | 1.76% | 1.65% | 1.79% | 1.97% | 2.16% | 2.17% | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | -442M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.2M | 0 | 0 | 0 | -74.3M | 23M | 68M | 72.1M | 340.2M | 330.3M | 319.9M | 316.3M |
| Operating Income | 4.41B | 4.35B | 4.38B | 4.13B | 3.58B | 3.89B | 3.91B | 3.76B | 3.85B | 4.01B | 3.96B | 3.97B | 4.18B | 4.13B | 4.01B | 3.87B | 3.76B | 3.74B | 3.33B | 2.94B | 2.57B | 2.37B | 2.2B | 2.17B | 2.01B | 1.86B | 1.72B | 1.64B | 1.48B | 1.36B | 1.25B |
| Operating Margin % | 21.21% | 21.33% | 21.8% | 21.23% | 19.95% | 22.31% | 23.74% | 23.97% | 24.77% | 25.94% | 26.06% | 24.76% | 24.22% | 23.71% | 23.45% | 23.11% | 24.18% | 24.41% | 21.69% | 21.3% | 21.02% | 20.8% | 20.8% | 21.87% | 21.66% | 19.74% | 18.39% | 17.98% | 16.54% | 15% | 14.24% |
| Operating Income Growth % | - | -0.8% | 6.1% | 15.23% | -7.75% | -0.64% | 3.96% | -2.29% | -3.97% | 1.24% | -0.25% | -5.14% | 1.31% | 3.12% | 3.59% | 2.74% | 0.59% | 12.54% | 13.19% | 14.19% | 8.51% | 7.68% | 1.64% | 7.6% | 8.16% | 8.17% | 4.93% | 10.48% | 9.28% | 9.02% | 10.69% |
| EBITDA | 5.05B | 4.98B | 4.99B | 4.7B | 4.13B | 4.44B | 4.45B | 4.28B | 4.36B | 4.48B | 4.4B | 4.42B | 4.63B | 4.57B | 4.43B | 4.29B | 4.14B | 4.09B | 3.67B | 3.27B | 2.9B | 2.7B | 2.53B | 2.48B | 2.31B | 2.2B | 2.06B | 1.98B | 1.81B | 1.68B | 1.56B |
| EBITDA Margin % | 24.28% | 24.42% | 24.81% | 24.15% | 22.99% | 25.5% | 27.02% | 27.28% | 28.06% | 29.02% | 28.98% | 27.56% | 26.78% | 26.23% | 25.94% | 25.62% | 26.6% | 26.7% | 23.96% | 23.72% | 23.71% | 23.69% | 23.9% | 25.06% | 24.85% | 23.31% | 22% | 21.71% | 20.22% | 18.53% | 17.85% |
| EBITDA Growth % | -0.06% | -0.2% | 6.17% | 13.75% | -7.02% | -0.18% | 3.95% | -1.83% | -2.74% | 1.84% | -0.36% | -4.5% | 1.25% | 3.14% | 3.33% | 3.57% | 1.15% | 11.44% | 12.27% | 12.76% | 7.45% | 6.74% | 1.93% | 7.44% | 5.1% | 6.75% | 3.96% | 9.12% | 8.13% | 7.43% | 9.56% |
| D&A (Non-Cash Add-back) | 638M | 630M | 605M | 567M | 545M | 556M | 539M | 519M | 511M | 475M | 443M | 449M | 442M | 439M | 425M | 421M | 376M | 351M | 347.6M | 333.9M | 328.7M | 329.3M | 327.8M | 315.5M | 296.5M | 336.2M | 337.8M | 340.2M | 330.3M | 319.9M | 316.3M |
| EBIT | 3.25B | 3.33B | 4.25B | 3.68B | 2.83B | 3.2B | 3.81B | 3.49B | 3.66B | 3.64B | 3.89B | 2.9B | 3.66B | 3.68B | 3.95B | 3.85B | 3.5B | 3.63B | 3.11B | 2.73B | 2.23B | 2.28B | 2.17B | 2.23B | 2.01B | 1.83B | 1.74B | 1.64B | 1.48B | 1.36B | 1.25B |
| Net Interest Income | -188M | -192M | -225M | -232M | -153M | -100M | -141M | -145M | -143M | -102M | -99M | -26M | -24M | 9M | -15M | -52M | -59M | -77M | -95.6M | -156.6M | -158.7M | -136M | -119.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 76M | 75M | 67M | 55M | 14M | 17M | 19M | 47M | 50M | 51M | 50M | 107M | 106M | 125M | 65M | 6M | 6M | 11M | 10M | 10M | 7.9M | 6.5M | 4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 264M | 267M | 292M | 287M | 167M | 117M | 160M | 192M | 193M | 153M | 149M | 133M | 130M | 116M | 80M | 58M | 65M | 88M | 105.6M | 166.6M | 166.6M | 142.5M | 123.7M | 0 | 0 | 2.02B | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.41B | -1.29B | -427M | -739M | -925M | -799M | -264M | -461M | -386M | -522M | -222M | -1.21B | -652M | -566M | -132M | -78M | -334M | -204M | -319.7M | -373.9M | -513.1M | -236.3M | -151.2M | -124.1M | -142.8M | -166.1M | -173.3M | -245.2M | -234.1M | -255.9M | -291.2M |
| Pretax Income | 3B | 3.06B | 3.96B | 3.39B | 2.66B | 3.09B | 3.65B | 3.3B | 3.46B | 3.49B | 3.74B | 2.76B | 3.53B | 3.56B | 3.87B | 3.79B | 3.43B | 3.54B | 3.01B | 2.56B | 2.06B | 2.13B | 2.05B | 2.04B | 1.87B | 1.67B | 1.57B | 1.39B | 1.25B | 1.1B | 954.6M |
| Pretax Margin % | 14.42% | 15.01% | 19.68% | 17.43% | 14.8% | 17.72% | 22.14% | 21.03% | 22.29% | 22.56% | 24.6% | 17.23% | 20.45% | 20.46% | 22.67% | 22.64% | 22.04% | 23.08% | 19.6% | 18.59% | 16.83% | 18.73% | 19.37% | 20.62% | 20.12% | 17.7% | 16.75% | 15.29% | 13.93% | 12.17% | 10.91% |
| Income Tax | 783M | 798M | 907M | 937M | 693M | 749M | 787M | 774M | 906M | 1.31B | 1.15B | 1.22B | 1.19B | 1.16B | 1.24B | 1.24B | 1.12B | 1.14B | 967.9M | 759.1M | 648.4M | 727.6M | 675.3M | 620.6M | 582M | 522.1M | 503.4M | 457.3M | 401.5M | 361.9M | 319.6M |
| Effective Tax Rate % | 26.12% | 26.09% | 22.93% | 27.62% | 26.05% | 24.26% | 21.58% | 23.45% | 26.15% | 37.65% | 30.82% | 43.97% | 33.8% | 32.4% | 32.09% | 32.59% | 32.57% | 32.25% | 32.21% | 29.61% | 31.49% | 34.09% | 32.94% | 30.39% | 31.12% | 31.29% | 32.12% | 32.79% | 32.12% | 32.83% | 33.48% |
| Net Income | 2.09B | 2.13B | 2.89B | 2.3B | 1.78B | 2.17B | 2.69B | 2.37B | 2.4B | 2.02B | 2.44B | 1.38B | 2.18B | 2.24B | 2.47B | 2.43B | 2.2B | 2.29B | 1.96B | 1.74B | 1.35B | 1.35B | 1.33B | 1.42B | 1.29B | 1.15B | 1.06B | 937.3M | 848.6M | 740.4M | 635M |
| Net Margin % | 10.04% | 10.46% | 14.37% | 11.82% | 9.93% | 12.43% | 16.36% | 15.08% | 15.44% | 13.1% | 16.06% | 8.63% | 12.62% | 12.86% | 14.47% | 14.53% | 14.15% | 14.95% | 12.77% | 12.6% | 11.06% | 11.86% | 12.54% | 14.35% | 13.86% | 12.16% | 11.37% | 10.28% | 9.46% | 8.18% | 7.26% |
| Net Income Growth % | -27.96% | -26.2% | 25.61% | 28.85% | -17.59% | -19.63% | 13.86% | -1.38% | 18.58% | -17.08% | 76.37% | -36.51% | -2.72% | -9.34% | 1.69% | 10.35% | -3.84% | 17.05% | 12.65% | 28.37% | 0.15% | 1.83% | -6.63% | 10.32% | 12.36% | 7.78% | 13.5% | 10.45% | 14.61% | 16.6% | 269.19% |
| Net Income (Continuing) | 2.21B | 2.26B | 3.05B | 2.46B | 1.97B | 2.34B | 2.86B | 2.53B | 2.56B | 2.17B | 2.59B | 2.63B | 2.34B | 2.41B | 2.63B | 2.55B | 2.31B | 2.4B | 2.04B | 1.74B | 1.35B | 1.35B | 1.33B | 1.42B | 1.29B | 1.15B | 1.06B | 937.3M | 848.6M | 740.4M | 635M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 341M | 311M | 332M | 348M | 405M | 362M | 358M | 441M | 299M | 303M | 260M | 255M | 240M | 231M | 201M | 166M | 142M | 141M | 0 | 109.9M | 0 | 0 | 261M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.59 | 2.63 | 3.51 | 2.77 | 2.13 | 2.55 | 3.14 | 2.75 | 2.75 | 2.28 | 2.72 | 1.52 | 2.36 | 2.38 | 2.58 | 2.47 | 2.15 | 2.19 | 1.83 | 1.60 | 1.23 | 1.22 | 1.17 | 1.23 | 1.10 | 0.95 | 0.85 | 0.74 | 0.65 | 0.56 | 0.49 |
| EPS Growth % | -27.29% | -25.07% | 26.71% | 30.05% | -16.47% | -18.79% | 14.18% | 0% | 20.61% | -16.18% | 78.95% | -35.59% | -0.84% | -7.75% | 4.45% | 14.88% | -1.83% | 19.67% | 14.37% | 30.08% | 0.82% | 4.27% | -4.88% | 11.82% | 15.79% | 11.76% | 14.86% | 13.85% | 16.07% | 14.29% | 276.92% |
| EPS (Basic) | - | 2.64 | 3.53 | 2.78 | 2.13 | 2.56 | 3.15 | 2.76 | 2.76 | 2.30 | 2.74 | 1.53 | 2.38 | 2.41 | 2.60 | 2.49 | 2.23 | 2.27 | 1.91 | 1.68 | 1.29 | 1.27 | 1.23 | 1.30 | 1.17 | 1.01 | 0.91 | 0.79 | 0.70 | 0.61 | 0.53 |
| Diluted Shares Outstanding | 805.1M | 811.1M | 822.5M | 829.2M | 838.8M | 848.3M | 859.3M | 861.1M | 873M | 887.8M | 898.4M | 909.7M | 924.3M | 939.9M | 960.2M | 984M | 1.02B | 1.05B | 1.07B | 1.07B | 1.08B | 1.09B | 1.12B | 1.13B | 1.16B | 1.19B | 1.23B | 1.25B | 1.27B | 1.27B | 1.25B |
| Basic Shares Outstanding | 802.3M | 808.7M | 817.7M | 827.4M | 836.4M | 845M | 856.8M | 859.1M | 870.6M | 881.8M | 891.8M | 902.2M | 915.1M | 930.8M | 952.2M | 976.6M | 975.6M | 999M | 1.01B | 1.02B | 1.03B | 1.04B | 1.06B | 1.07B | 1.09B | 1.11B | 1.15B | 1.17B | 1.18B | 1.18B | 1.17B |
| Dividend Payout Ratio | - | 85.51% | 61.92% | 76.04% | 94.73% | 77.52% | 55.73% | 68.19% | 66.29% | 75.54% | 61.78% | 107.88% | 66.33% | 61.67% | 51.66% | 49.49% | 51.84% | 42.82% | 45.42% | 43.14% | 50.08% | 44.93% | 40.4% | 35.66% | 32.09% | 34.6% | 35.95% | 39.05% | 40.73% | 45.03% | 46.65% |
Emerging market currency volatility
According to the latest quarterly income statement, Colgate-Palmolive reported revenue growth of 8.4% in 2026Q1, a notable recovery from the 3.0% contraction observed in 2025Q1, suggesting that the company's underlying demand remains resilient despite significant geographic exposure to volatile emerging market economies.
The recent acceleration in top-line growth appears to be driven by a combination of pricing actions and volume recovery in the pet nutrition segment. Investors should monitor whether this growth is sustainable or if it remains susceptible to the translation headwinds that have historically masked operational progress in non-USD denominated markets.
As reported in financial statements, Colgate-Palmolive maintained a robust gross margin of 60.6% in 2026Q1, consistently hovering near the 60% threshold over the last ten quarters, which underscores the company's significant pricing power and the premium nature of its therapeutic oral care and pet nutrition portfolios.
This margin profile suggests that the company successfully mitigates raw material inflation through its professional-recommendation flywheel. The ability to sustain these levels despite global supply chain pressures indicates a competitive moat that is structurally superior to traditional household product peers.
Based on the provided income statement data, operating margins have experienced a slight compression from 23.2% in 2024Q1 to 21.7% in 2026Q1, indicating that SG&A expenses are currently scaling at a rate that slightly outpaces the growth in gross profit across the company's primary business segments.
This trend suggests that management is prioritizing market share retention and brand investment over immediate operating margin expansion. Analysts should investigate whether this increased overhead is a temporary strategic investment in pet nutrition capacity or a permanent shift in the company's cost structure.
As evidenced by the 2025Q4 net loss of $37 million followed by a rebound to $646 million in 2026Q1, reported net income appears highly sensitive to non-operating items and periodic accounting adjustments, which may obscure the underlying cash-generating capability of the core business operations.
The significant variance in quarterly net income warrants caution, as it does not necessarily reflect a deterioration in the company's fundamental business model. Investors should focus on normalized earnings metrics to better gauge the true profitability of the firm's global operations.
While the company maintains strong margins, the recent trend of rising SG&A costs relative to revenue growth, as seen in the 2026Q1 figures, suggests that the company may be reaching a point of diminishing returns on its current marketing and distribution spend in competitive global markets.
Short-term investors should be wary of the potential for further margin erosion if the company is forced to increase promotional spending to defend its market share against private label entrants. The reliance on high-margin pet nutrition growth may also be vulnerable if consumer spending patterns shift toward lower-cost alternatives.
Quick answers to the most common questions about buying CL stock.
For fiscal year 2025, Colgate-Palmolive Company (CL) reported total revenue of $20.38B. This represents a 133.0% increase compared to $8.75B in 1996.
Colgate-Palmolive Company (CL) is profitable, generating $2.13B in net income for the fiscal year ending 2025 with a net profit margin of 10.5%.
Colgate-Palmolive Company (CL) reported an operating income of $4.35B, resulting in an operating profit margin of 21.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Colgate-Palmolive Company (CL) generated $12.25B in gross profit for the year, representing a gross profit margin of 60.1%. This demonstrates the company's core pricing power and production efficiency.