American Electric Power (AEP) FY2019 results: revenue $15.6 billion, down 3.9% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $15.6 billion for fiscal 2019, the year ended 31 December 2019, down 3.9% on the year before. Net income was $1.9 billion, down 0.1%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$15.6 billion
-3.9% on the year
FY2012FY2019
Operating margin
16.7%
16.6% a year earlier
FY2012FY2019
Net income
$1.9 billion
-0.1% on the year
FY2012FY2019
Diluted EPS
$3.88
-0.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
15,561
16,196
15,425
-3.9%
Operating income
2,592
2,683
3,525
-3.4%
Operating margin
16.7%
16.6%
22.9%
Interest expense
1,072
984
895
+8.9%
Pre-tax income
1,904
2,044
2,899
-6.8%
Income tax
-12.9
115
970
Effective tax rate
-0.7%
5.6%
33.5%
Net income
1,921
1,924
1,913
-0.1%
Net margin
12.3%
11.9%
12.4%
Diluted EPS
$3.88
$3.90
$3.88
-0.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,270
5,223
4,270
-18.2%
Capital expenditure
918
0.0
0.0
Free cash flow
3,352
5,223
4,270
-35.8%
Free cash flow margin
21.5%
32.3%
27.7%
Cash from investing
-7,144
-6,354
-3,656
Cash from financing
2,863
1,162
-605
+146.4%
Dividends paid
1,350
1,256
1,192
+7.5%
Dividend per share
$2.71
$2.53
$2.39
+7.1%
Diluted shares, weighted
495m
494m
493m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
19,632
19,028
18,287
+3.2%
Non-controlling interest
281
31.0
26.6
+806.5%
Redeemable equity
65.7
69.4
0.0
-5.3%
Short-term borrowings
2,838
n/a
1,639
Debt
26,726
25,257
21,173
+5.8%
Operating lease liabilities
735
0.0
n/a
Other liabilities
25,615
24,417
23,604
+4.9%
Total liabilities and equity
75,892
68,803
64,729
+10.3%
Fixed assets
60,138
55,099
50,262
+9.1%
Goodwill
52.5
52.5
52.5
0.0%
Investments
203
159
162
+27.4%
Cash and equivalents
247
234
215
+5.4%
Receivables
1,705
1,926
1,891
-11.5%
Other assets
13,547
11,332
12,148
+19.6%
Total assets
75,892
68,803
64,729
+10.3%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.