AMETEK (AME) FY2020 results: revenue $4.5 billion, down 12.0% on the year
AMETEK Inc. (AME) reported revenue of $4.5 billion for fiscal 2020, the year ended 31 December 2020, down 12.0% on the year before. Net income was $872 million, up 1.3%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$4.5 billion
-12.0% on the year
FY2013FY2020
Operating margin
22.6%
22.8% a year earlier
FY2013FY2020
Net income
$872 million
+1.3% on the year
FY2013FY2020
Diluted EPS
$3.77
+0.5% 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
4,540
5,159
4,846
-12.0%
Cost of revenue
2,997
3,371
3,186
-11.1%
Gross profit
1,544
1,788
1,660
-13.7%
Gross margin
34.0%
34.7%
34.2%
Research and development
159
162
141
-1.9%
Selling, general and administrative
516
610
584
-15.5%
Operating income
1,028
1,177
1,076
-12.7%
Operating margin
22.6%
22.8%
22.2%
Interest expense
86.1
88.5
82.2
-2.7%
Pre-tax income
1,082
1,070
988
+1.2%
Income tax
210
208
210
+0.7%
Effective tax rate
19.4%
19.5%
21.2%
Net income
872
861
778
+1.3%
Net margin
19.2%
16.7%
16.1%
Diluted EPS
$3.77
$3.75
$3.34
+0.5%
$ 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
1,281
1,114
926
+14.9%
Capital expenditure
74.2
102
82.1
-27.5%
Free cash flow
1,207
1,012
843
+19.2%
Free cash flow margin
26.6%
19.6%
17.4%
Cash from investing
61.6
-1,151
-1,210
Cash from financing
-539
72.9
13.0
Depreciation and amortisation
255
234
199
+9.1%
Share-based compensation
41.6
40.4
27.3
+2.9%
Buybacks
4.7
11.9
368
-60.7%
Dividends paid
165
127
129
+29.4%
Dividend per share
n/a
$0.56
$0.56
Diluted shares, weighted
231m
229m
233m
+0.8%
Shares outstanding at period end
230m
229m
227m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,949
5,115
4,242
+16.3%
Debt
2,414
2,769
2,633
-12.8%
Operating lease liabilities
128
143
n/a
-10.1%
Other liabilities
1,866
1,818
1,788
+2.7%
Total liabilities and equity
10,357
9,845
8,662
+5.2%
Fixed assets
527
549
554
-4.1%
Goodwill
4,225
4,048
3,612
+4.4%
Intangible assets
2,624
2,763
2,404
-5.0%
Securities held for sale or to maturity
n/a
n/a
7.7
Cash and equivalents
1,213
393
354
+208.6%
Receivables
597
745
733
-19.8%
Inventory
559
625
625
-10.5%
Other assets
613
723
373
-15.2%
Total assets
10,357
9,845
8,662
+5.2%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.