Amphenol (APH) FY2019 results: revenue $8.2 billion, up 0.3% on the year
Amphenol Corp. (APH) reported revenue of $8.2 billion for fiscal 2019, the year ended 31 December 2019, up 0.3% on the year before. Net income was $1.2 billion, down 4.1%, and diluted earnings per share $0.47. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2020.
Revenue
$8.2 billion
+0.3% on the year
FY2012FY2019
Operating margin
19.7%
20.6% a year earlier
FY2012FY2019
Net income
$1.2 billion
-4.1% on the year
FY2012FY2019
Diluted EPS
$0.47
-2.6% 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
8,225
8,202
7,011
+0.3%
Cost of revenue
5,609
5,547
4,701
+1.1%
Gross profit
2,616
2,655
2,310
-1.5%
Gross margin
31.8%
32.4%
32.9%
Research and development
234
221
194
+6.0%
Selling, general and administrative
971
960
878
+1.2%
Operating income
1,619
1,687
1,428
-4.0%
Operating margin
19.7%
20.6%
20.4%
Interest expense
118
102
92.3
+15.6%
Pre-tax income
1,496
1,588
1,352
-5.8%
Income tax
332
372
692
-10.7%
Effective tax rate
22.2%
23.4%
51.1%
Net income
1,155
1,205
650
-4.1%
Net margin
14.0%
14.7%
9.3%
Diluted EPS
$0.47
$0.48
$0.26
-2.6%
$ 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
1,502
1,113
1,144
+35.0%
Capital expenditure
295
311
227
-5.0%
Free cash flow
1,207
802
918
+50.5%
Free cash flow margin
14.7%
9.8%
13.1%
Cash from investing
-1,229
-442
-380
Cash from financing
-648
-1,070
-140
Depreciation and amortisation
312
300
227
+4.1%
Share-based compensation
63.0
55.6
49.7
+13.3%
Buybacks
602
935
618
-35.7%
Dividends paid
280
254
205
+10.2%
Dividend per share
$0.12
$0.11
$0.09
+9.1%
Diluted shares, weighted
2,463m
2,501m
2,532m
-1.5%
Shares outstanding at period end
2,383m
2,388m
2,446m
-0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,530
4,017
3,990
+12.8%
Non-controlling interest
65.9
47.2
53.6
+39.6%
Debt
3,607
3,571
3,543
+1.0%
Operating lease liabilities
145
n/a
n/a
Other liabilities
2,467
2,410
2,418
+2.4%
Total liabilities and equity
10,816
10,045
10,004
+7.7%
Fixed assets
999
876
817
+14.1%
Goodwill
4,867
4,103
4,043
+18.6%
Intangible assets
442
398
442
+11.1%
Investments
17.4
12.4
34.6
+40.3%
Cash and equivalents
891
1,279
1,719
-30.3%
Receivables
1,736
1,792
1,599
-3.1%
Inventory
1,310
1,234
1,107
+6.2%
Other assets
552
351
244
+57.5%
Total assets
10,816
10,045
10,004
+7.7%
10-K for the year ended 31 December 2019, filed 12 February 2020: the filing.