Albemarle (ALB) FY2020 results: revenue $3.1 billion, down 12.8% on the year
Albemarle Corp. (ALB) reported revenue of $3.1 billion for fiscal 2020, the year ended 31 December 2020, down 12.8% on the year before. Net income was $376 million, down 29.5%, and diluted earnings per share $3.52. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$3.1 billion
-12.8% on the year
FY2013FY2020
Operating margin
16.2%
18.6% a year earlier
FY2013FY2020
Net income
$376 million
-29.5% on the year
FY2013FY2020
Diluted EPS
$3.52
-29.9% 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
3,129
3,589
3,375
-12.8%
Cost of revenue
2,134
2,332
2,158
-8.5%
Gross profit
995
1,258
1,217
-20.9%
Gross margin
31.8%
35.0%
36.1%
Research and development
59.2
58.3
70.1
+1.6%
Selling, general and administrative
430
533
446
-19.4%
Operating income
506
666
912
-24.1%
Operating margin
16.2%
18.6%
27.0%
Pre-tax income
374
563
795
-33.6%
Income tax
54.4
88.2
145
-38.3%
Effective tax rate
14.6%
15.7%
18.2%
Net income
376
533
694
-29.5%
Net margin
12.0%
14.9%
20.6%
Diluted EPS
$3.52
$5.02
$6.34
-29.9%
$ 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
799
719
546
+11.1%
Capital expenditure
850
852
700
-0.2%
Free cash flow
-51.6
-132
-154
Free cash flow margin
-1.6%
-3.7%
-4.6%
Cash from investing
-864
-1,664
-304
Cash from financing
177
1,043
-787
-83.0%
Depreciation and amortisation
232
213
201
+8.7%
Share-based compensation
22.8
19.7
15.2
+16.0%
Buybacks
0.0
0.0
500
Dividends paid
162
152
145
+6.3%
Dividend per share
$1.54
$1.47
$1.34
+4.8%
Diluted shares, weighted
107m
106m
109m
+0.5%
Shares outstanding at period end
107m
106m
106m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,268
3,932
3,585
+8.5%
Non-controlling interest
200
161
174
+24.2%
Debt
3,572
3,050
1,705
+17.1%
Operating lease liabilities
117
115
0.0
+1.8%
Finance lease liabilities
58.5
58.9
n/a
-0.6%
Other liabilities
2,235
2,543
2,117
-12.1%
Total liabilities and equity
10,451
9,861
7,582
+6.0%
Fixed assets
5,355
4,909
3,021
+9.1%
Goodwill
1,666
1,579
1,567
+5.5%
Intangible assets
349
355
386
-1.6%
Investments
37.1
33.6
33.5
+10.3%
Cash and equivalents
747
613
555
+21.8%
Receivables
531
613
606
-13.4%
Inventory
750
769
701
-2.4%
Other assets
1,017
990
712
+2.7%
Total assets
10,451
9,861
7,582
+6.0%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.