Albemarle (ALB) FY2023 results: revenue $9.6 billion, up 31.4% on the year
Albemarle Corp. (ALB) reported revenue of $9.6 billion for fiscal 2023, the year ended 31 December 2023, up 31.4% on the year before. Net income was $1.6 billion, down 41.5%, and diluted earnings per share $13.36. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$9.6 billion
+31.4% on the year
FY2016FY2023
Operating margin
2.6%
33.7% a year earlier
FY2016FY2023
Net income
$1.6 billion
-41.5% on the year
FY2016FY2023
Diluted EPS
$13.36
-41.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,325
1,908
344
-30.5%
Capital expenditure
2,155
1,262
954
+70.8%
Free cash flow
-829
646
-609
Free cash flow margin
-8.6%
8.8%
-18.3%
Cash from investing
-2,565
-1,423
-667
Cash from financing
624
612
50.2
+2.0%
Depreciation and amortisation
430
301
254
+42.9%
Share-based compensation
36.5
30.5
20.1
+19.9%
Dividends paid
187
184
178
+1.5%
Dividend per share
$1.60
$1.58
$1.56
+1.3%
Diluted shares, weighted
118m
118m
117m
-0.0%
Shares outstanding at period end
117m
117m
117m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
9,412
7,983
5,625
+17.9%
Non-controlling interest
253
208
180
+21.5%
Debt
4,167
3,217
2,394
+29.5%
Operating lease liabilities
114
99.3
127
+14.5%
Finance lease liabilities
104
74.4
74.0
+40.4%
Other liabilities
4,221
3,875
2,573
+8.9%
Total liabilities and equity
18,271
15,457
10,974
+18.2%
Fixed assets
9,495
6,963
5,910
+36.4%
Goodwill
1,630
1,618
1,598
+0.7%
Intangible assets
262
288
309
-9.0%
Investments
207
39.5
37.2
+423.7%
Cash and equivalents
890
1,499
439
-40.6%
Receivables
1,213
1,191
557
+1.9%
Inventory
2,161
2,076
799
+4.1%
Other assets
2,412
1,782
1,326
+35.4%
Total assets
18,271
15,457
10,974
+18.2%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.