Summary: Colgate-Palmolive Co.

High brand equity with strong global market position in oral care category. Majority of products are generally non-cyclical, which translates into consistent profitability. Track record of good product innovation. Diversified geographic footprint, though foreign currency headwinds, increased competition and weak economic conditions in emerging markets have weighed on recent results. Negligible private label competition in oral care, though competition from natural and local brands has intensified. Less product diversity than global consumer product peers given focus on oral care. Solid cash flow generation and generally conservative financial policies, notwithstanding high shareholder payments. Historically less acquisitive than most global consumer product peers. S&P Global Ratings' stable outlook on Colgate-Palmolive Co. reflects our expectation for modest profit growth as the company continues

...Business Risk: Excellent Financial Risk: Modest + High brand equity with strong global market position in oral care category. + Majority of products are generally non-cyclical, which translates into consistent profitability. + Track record of good product innovation. + Diversified geographic footprint, though foreign currency headwinds, increased competition and weak economic conditions in emerging markets have weighed on recent results. + Negligible private label competition in oral care, though competition from natural and local brands has intensified. + Less product diversity than global consumer product peers given focus on oral care. + Solid cash flow generation and generally conservative financial policies, notwithstanding high shareholder payments. + Historically less acquisitive than most global consumer product peers....

Summary