Financial Summary (All financials)
| In millions, except per share items | Jul-31-23 | Jul-31-22 | Jul-31-21 | Jul-31-20 |
| Revenues | 29,734 | 28,566 | 22,792 | 19,940 |
| Revenue growth | 4.1% | 25.3% | 14.3% | |
| Cost of goods sold | 20,709 | 19,810 | 15,812 | 13,957 |
| Gross profit | 9,025 | 8,756 | 6,980 | 5,983 |
| Gross margin | 30.4% | 30.7% | 30.6% | 30.0% |
| Selling, general and administrative | 5,920 | 5,635 | 4,732 | 4,329 |
| EBITA | 2,957 | 2,981 | 2,118 | 1,515 |
| EBITA margin | 9.9% | 10.4% | 9.3% | 7.6% |
| Amortization of intangibles | 173 | 161 | 168 | 143 |
| EBIT | 2,784 | 2,820 | 1,950 | 1,372 |
| EBIT margin | 9.4% | 9.9% | 8.6% | 6.9% |
| Pre-tax income | 2,464 | 2,708 | 1,862 | 1,272 |
| Income taxes | 575 | 609 | 232 | 299 |
| Tax rate | 23.3% | 22.5% | 12.5% | 23.5% |
| Net income | 1,889 | 2,122 | 1,472 | 961 |
| Net margin | 6.4% | 7.4% | 6.5% | 4.8% |
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| Diluted EPS | $9.12 | $9.59 | $7.25 | $4.29 |
| Shares outstanding (diluted) | 207 | 219 | 225 | 227 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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