Allegion (ALLE) FY2019 results: revenue $2.9 billion, up 4.5% on the year
Allegion plc (ALLE) reported revenue of $2.9 billion for fiscal 2019, the year ended 31 December 2019, up 4.5% on the year before. Net income was $402 million, down 7.6%, and diluted earnings per share $4.26. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$2.9 billion
+4.5% on the year
FY2012FY2019
Operating margin
19.8%
19.2% a year earlier
FY2012FY2019
Net income
$402 million
-7.6% on the year
FY2012FY2019
Diluted EPS
$4.26
-6.2% 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
2,854
2,732
2,408
+4.5%
Cost of revenue
1,602
1,558
1,338
+2.8%
Gross profit
1,252
1,173
1,071
+6.7%
Gross margin
43.9%
43.0%
44.5%
Research and development
54.7
54.4
48.3
+0.6%
Selling, general and administrative
681
648
580
+5.2%
Operating income
565
526
492
+7.5%
Operating margin
19.8%
19.2%
20.5%
Interest expense
56.0
54.0
106
+3.7%
Pre-tax income
475
475
396
0.0%
Income tax
73.1
39.8
119
+83.7%
Effective tax rate
15.4%
8.4%
30.1%
Net income
402
435
273
-7.6%
Net margin
14.1%
15.9%
11.3%
Diluted EPS
$4.26
$4.54
$2.85
-6.2%
$ 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
488
458
347
+6.6%
Capital expenditure
65.6
49.1
49.3
+33.6%
Free cash flow
423
409
298
+3.4%
Free cash flow margin
14.8%
15.0%
12.4%
Cash from investing
-77.6
-444
-50.2
Cash from financing
-342
-183
-151
Depreciation and amortisation
78.1
82.3
61.6
-5.1%
Share-based compensation
20.4
19.6
16.2
+4.1%
Buybacks
226
67.3
60.0
+235.8%
Dividends paid
101
79.4
60.9
+26.7%
Dividend per share
$1.08
$0.84
$0.64
+28.6%
Diluted shares, weighted
94m
96m
96m
-1.5%
Shares outstanding at period end
93m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
757
651
402
+16.3%
Non-controlling interest
3.0
3.0
3.9
0.0%
Debt
1,428
1,445
1,477
-1.2%
Operating lease liabilities
55.6
n/a
n/a
Other liabilities
724
711
659
+1.7%
Total liabilities and equity
2,967
2,810
2,542
+5.6%
Fixed assets
291
277
252
+5.3%
Goodwill
873
883
761
-1.1%
Intangible assets
511
547
394
-6.6%
Cash and equivalents
355
284
466
+25.2%
Receivables
330
325
297
+1.5%
Inventory
270
280
240
-3.7%
Other assets
337
214
132
+57.0%
Total assets
2,967
2,810
2,542
+5.6%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.