Allegion (ALLE) FY2020 results: revenue $2.7 billion, down 4.7% on the year
Allegion plc (ALLE) reported revenue of $2.7 billion for fiscal 2020, the year ended 31 December 2020, down 4.7% on the year before. Net income was $314 million, down 21.8%, and diluted earnings per share $3.39. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2021.
Revenue
$2.7 billion
-4.7% on the year
FY2013FY2020
Operating margin
14.8%
19.8% a year earlier
FY2013FY2020
Net income
$314 million
-21.8% on the year
FY2013FY2020
Diluted EPS
$3.39
-20.4% 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
2,720
2,854
2,732
-4.7%
Cost of revenue
1,541
1,602
1,558
-3.8%
Gross profit
1,179
1,252
1,173
-5.9%
Gross margin
43.3%
43.9%
43.0%
Research and development
54.4
54.7
54.4
-0.5%
Selling, general and administrative
636
681
648
-6.7%
Operating income
404
565
526
-28.6%
Operating margin
14.8%
19.8%
19.2%
Interest expense
51.1
56.0
54.0
-8.8%
Pre-tax income
365
475
475
-23.1%
Income tax
50.9
73.1
39.8
-30.4%
Effective tax rate
13.9%
15.4%
8.4%
Net income
314
402
435
-21.8%
Net margin
11.6%
14.1%
15.9%
Diluted EPS
$3.39
$4.26
$4.54
-20.4%
$ 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
490
488
458
+0.4%
Capital expenditure
47.1
65.6
49.1
-28.2%
Free cash flow
443
423
409
+4.9%
Free cash flow margin
16.3%
14.8%
15.0%
Cash from investing
-56.7
-77.6
-444
Cash from financing
-322
-342
-183
Depreciation and amortisation
78.0
78.1
82.3
-0.1%
Share-based compensation
20.8
20.4
19.6
+2.0%
Buybacks
209
226
67.3
-7.6%
Dividends paid
117
101
79.4
+16.6%
Dividend per share
$1.28
$1.08
$0.84
+18.5%
Diluted shares, weighted
93m
94m
96m
-1.6%
Shares outstanding at period end
91m
93m
n/a
-1.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
829
757
651
+9.5%
Non-controlling interest
3.2
3.0
3.0
+6.7%
Debt
1,429
1,428
1,445
+0.1%
Operating lease liabilities
66.3
55.6
n/a
+19.2%
Other liabilities
741
724
711
+2.4%
Total liabilities and equity
3,069
2,967
2,810
+3.4%
Fixed assets
295
291
277
+1.2%
Goodwill
819
873
883
-6.2%
Intangible assets
487
511
547
-4.7%
Cash and equivalents
480
355
284
+35.2%
Receivables
322
330
325
-2.4%
Inventory
283
270
280
+4.9%
Other assets
383
337
214
+13.8%
Total assets
3,069
2,967
2,810
+3.4%
10-K for the year ended 31 December 2020, filed 16 February 2021: the filing.