Albemarle (ALB) FY2019 results: revenue $3.6 billion, up 6.4% on the year
Albemarle Corp. (ALB) reported revenue of $3.6 billion for fiscal 2019, the year ended 31 December 2019, up 6.4% on the year before. Net income was $533 million, down 23.1%, and diluted earnings per share $5.02. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$3.6 billion
+6.4% on the year
FY2012FY2019
Operating margin
18.6%
27.0% a year earlier
FY2012FY2019
Net income
$533 million
-23.1% on the year
FY2012FY2019
Diluted EPS
$5.02
-20.8% 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
3,589
3,375
3,072
+6.4%
Cost of revenue
2,332
2,158
1,966
+8.1%
Gross profit
1,258
1,217
1,106
+3.3%
Gross margin
35.0%
36.1%
36.0%
Research and development
58.3
70.1
84.3
-16.8%
Selling, general and administrative
533
446
450
+19.6%
Operating income
666
912
572
-26.9%
Operating margin
18.6%
27.0%
18.6%
Pre-tax income
563
795
447
-29.2%
Income tax
88.2
145
432
-39.1%
Effective tax rate
15.7%
18.2%
96.6%
Net income
533
694
54.9
-23.1%
Net margin
14.9%
20.6%
1.8%
Diluted EPS
$5.02
$6.34
$0.49
-20.8%
$ 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
719
546
304
+31.7%
Capital expenditure
852
700
318
+21.7%
Free cash flow
-132
-154
-13.7
Free cash flow margin
-3.7%
-4.6%
-0.4%
Cash from investing
-1,664
-304
-358
Cash from financing
1,043
-787
-1,087
Depreciation and amortisation
213
201
197
+6.4%
Share-based compensation
19.7
15.2
19.4
+29.2%
Buybacks
0.0
500
250
Dividends paid
152
145
141
+5.3%
Dividend per share
$1.47
$1.34
$1.28
+9.7%
Diluted shares, weighted
106m
109m
112m
-2.9%
Shares outstanding at period end
106m
106m
111m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,932
3,585
3,675
+9.7%
Non-controlling interest
161
174
143
-7.2%
Debt
3,050
1,705
1,837
+78.9%
Operating lease liabilities
115
0.0
n/a
Finance lease liabilities
58.9
n/a
n/a
Other liabilities
2,543
2,117
2,096
+20.1%
Total liabilities and equity
9,861
7,582
7,751
+30.1%
Fixed assets
4,909
3,021
2,493
+62.5%
Goodwill
1,579
1,567
1,610
+0.7%
Intangible assets
355
386
422
-8.2%
Investments
33.6
33.5
30.7
+0.4%
Cash and equivalents
613
555
1,137
+10.4%
Receivables
613
606
534
+1.1%
Inventory
769
701
593
+9.8%
Other assets
990
712
931
+39.0%
Total assets
9,861
7,582
7,751
+30.1%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.