American Electric Power (AEP) FY2020 results: revenue $14.9 billion, down 4.1% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $14.9 billion for fiscal 2020, the year ended 31 December 2020, down 4.1% on the year before. Net income was $2.2 billion, up 14.5%, and diluted earnings per share $4.42. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$14.9 billion
-4.1% on the year
FY2013FY2020
Operating margin
20.0%
16.7% a year earlier
FY2013FY2020
Net income
$2.2 billion
+14.5% on the year
FY2013FY2020
Diluted EPS
$4.42
+13.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
14,918
15,561
16,196
-4.1%
Operating income
2,988
2,592
2,683
+15.3%
Operating margin
20.0%
16.7%
16.6%
Interest expense
1,166
1,072
984
+8.7%
Pre-tax income
2,234
1,904
2,044
+17.4%
Income tax
40.5
-12.9
115
Effective tax rate
1.8%
-0.7%
5.6%
Net income
2,200
1,921
1,924
+14.5%
Net margin
14.7%
12.3%
11.9%
Diluted EPS
$4.42
$3.88
$3.90
+13.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,833
4,270
5,223
-10.2%
Capital expenditure
0.0
918
0.0
Free cash flow
3,833
3,352
5,223
+14.4%
Free cash flow margin
25.7%
21.5%
32.3%
Cash from investing
-6,234
-7,144
-6,354
Cash from financing
2,407
2,863
1,162
-15.9%
Dividends paid
1,425
1,350
1,256
+5.5%
Dividend per share
$2.84
$2.71
$2.53
+4.8%
Diluted shares, weighted
497m
495m
494m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
20,551
19,632
19,028
+4.7%
Non-controlling interest
224
281
31.0
-20.4%
Redeemable equity
0.0
65.7
69.4
Short-term borrowings
2,479
2,838
n/a
-12.6%
Debt
31,072
26,726
25,257
+16.3%
Operating lease liabilities
638
735
0.0
-13.1%
Other liabilities
25,792
25,615
24,417
+0.7%
Total liabilities and equity
80,757
75,892
68,803
+6.4%
Fixed assets
63,902
60,138
55,099
+6.3%
Goodwill
52.5
52.5
52.5
0.0%
Investments
201
203
159
-0.9%
Cash and equivalents
393
247
234
+59.1%
Receivables
1,843
1,705
1,926
+8.1%
Other assets
14,367
13,547
11,332
+6.1%
Total assets
80,757
75,892
68,803
+6.4%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.