Explain this page
Arphra AIPlain-English read on Corteva, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $15.66B | $17.46B | $17.23B | $16.91B | $17.4B | $18.33B | $18.97B | $19.5B | $19.74B |
| Cost of revenue | $9.22B | $10.44B | $9.92B | $9.53B | $9.82B | $10.53B | $11.01B | $11.17B | $10.96B |
| Gross profit | $6.44B | $7.02B | $7.31B | $7.38B | $7.59B | $7.95B | $8.22B | $8.54B | $8.59B |
| Gross margin | +41.11% | +40.21% | +42.41% | +43.64% | +43.59% | +43.35% | +43.33% | +43.81% | +43.54% |
| Operating | |||||||||
| Research & development | $1.19B | $1.22B | $1.34B | $1.4B | $1.47B | $1.5B | $1.55B | $1.57B | $1.64B |
| Selling, general & administrative | $3.21B | $3.17B | $3.18B | $3.2B | $3.49B | $3.49B | $3.65B | $3.75B | $3.79B |
| Total operating expenses | $5.12B | $5.09B | $5.2B | $5.28B | $4.97B | $5.38B | $5.74B | $5.71B | $5.94B |
| Operating income | $1.32B | $1.93B | $2.11B | $2.1B | $2.62B | $2.45B | $2.57B | $2.64B | $2.64B |
| Operating margin | +8.41% | +11.05% | +12.25% | +12.40% | +15.05% | +13.37% | +13.56% | +13.53% | +13.36% |
| EBITDA | $3.62B | $2.73B | $2.54B | $2.74B | $3.07B | $2.96B | $3.01B | $3.16B | $3.19B |
| EBIT | $2.38B | $1.51B | $1.33B | $1.51B | $1.87B | $1.72B | $1.69B | $1.83B | $1.84B |
| Below the line | |||||||||
| Interest expense | $30M | $79M | $233M | $233M | $180M | $231M | $236.48M | $251.74M | $250.71M |
| Interest income | $77M | $124M | $283M | $132M | $136M | $199.6M | $208.25M | $205.76M | $210.77M |
| Other income / expense | $1.03B | -$502M | -$1.02B | -$821M | -$931M | — | — | — | — |
| Pre-tax income | $2.35B | $1.43B | $1.09B | $1.28B | $1.69B | $1.47B | $1.52B | $1.49B | $1.52B |
| Income tax expense | $524M | $210M | $152M | $412M | $484M | $351.19M | $370.56M | $389.79M | $392.46M |
| Earnings | |||||||||
| Net income | $1.76B | $1.15B | $735M | $907M | $1.09B | $944.62M | $1.01B | $1.05B | $1.03B |
| Net income · continuing ops | $1.82B | $1.22B | $941M | $863M | $1.2B | $1.09B | $1.08B | $1.13B | $1.18B |
| Net margin | +11.24% | +6.57% | +4.27% | +5.36% | +6.29% | +5.15% | +5.35% | +5.39% | +5.20% |
| EPS · basic | $2.39 | $1.59 | $1.04 | $1.31 | $1.61 | $3.74 | $4.14 | $4.64 | $5.28 |
| EPS · diluted | $2.37 | $1.58 | $1.03 | $1.30 | $1.60 | $3.74 | $4.13 | $4.59 | $5.29 |
| EPS · low estimate | — | — | — | — | — | $3.63 | $3.68 | $3.79 | $5.11 |
| EPS · high estimate | — | — | — | — | — | $3.82 | $4.35 | $5.25 | $5.46 |
| Shares · basic | 735.9M | 720.8M | 709M | 693.7M | 673.17M | 672.3M | 675.86M | 674.31M | 667.04M |
| Shares · diluted | 741.6M | 724.5M | 711.9M | 696M | 673.17M | 679.78M | 666.9M | 669.81M | 673.03M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 15 | 15 | 12 | 11 |
| Analysts (EPS) | — | — | — | — | — | 11 | 5 | 3 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro