Aptiv (APTV) FY2019 results: revenue $14.4 billion, down 0.5% on the year
Aptiv plc (APTV) reported revenue of $14.4 billion for fiscal 2019, the year ended 31 December 2019, down 0.5% on the year before. Net income was $990 million, down 7.2%, and diluted earnings per share $3.85. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2020.
Revenue
$14.4 billion
-0.5% on the year
FY2012FY2019
Operating margin
8.9%
10.2% a year earlier
FY2012FY2019
Net income
$990 million
-7.2% on the year
FY2012FY2019
Diluted EPS
$3.85
-4.2% 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
14,357
14,435
12,884
-0.5%
Cost of revenue
11,711
11,706
10,270
+0.0%
Gross profit
2,646
2,729
2,614
-3.0%
Gross margin
18.4%
18.9%
20.3%
Research and development
1,165
1,155
882
+0.9%
Selling, general and administrative
1,076
993
952
+8.4%
Operating income
1,276
1,473
1,416
-13.4%
Operating margin
8.9%
10.2%
11.0%
Interest expense
164
141
140
+16.3%
Pre-tax income
1,126
1,334
1,255
-15.6%
Income tax
132
250
223
-47.2%
Effective tax rate
11.7%
18.7%
17.8%
Net income
990
1,067
1,355
-7.2%
Net margin
6.9%
7.4%
10.5%
Diluted EPS
$3.85
$4.02
$5.06
-4.2%
$ 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
1,624
1,628
1,468
-0.2%
Capital expenditure
781
846
698
-7.7%
Free cash flow
843
782
770
+7.8%
Free cash flow margin
5.9%
5.4%
6.0%
Cash from investing
-1,111
-2,048
-1,252
Cash from financing
-649
-555
456
Depreciation and amortisation
717
676
546
+6.1%
Share-based compensation
66.0
58.0
62.0
+13.8%
Buybacks
420
499
383
-15.8%
Dividends paid
226
233
310
-3.0%
Dividend per share
$0.88
$0.88
$1.38
0.0%
Diluted shares, weighted
257m
265m
268m
-3.0%
Shares outstanding at period end
255m
260m
266m
-1.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,819
3,459
3,299
+10.4%
Non-controlling interest
192
211
218
-9.0%
Debt
4,364
4,344
4,149
+0.5%
Operating lease liabilities
329
0.0
n/a
Finance lease liabilities
18.0
n/a
n/a
Other liabilities
4,737
4,466
4,503
+6.1%
Total liabilities and equity
13,459
12,480
12,169
+7.8%
Fixed assets
3,309
3,179
2,804
+4.1%
Goodwill
2,407
2,524
1,944
-4.6%
Intangible assets
1,186
1,380
1,219
-14.1%
Cash and equivalents
412
567
1,596
-27.3%
Receivables
2,569
2,487
2,440
+3.3%
Inventory
1,286
1,277
1,083
+0.7%
Other assets
2,290
1,066
1,083
+114.8%
Total assets
13,459
12,480
12,169
+7.8%
10-K for the year ended 31 December 2019, filed 3 February 2020: the filing.