Aptiv (APTV) FY2020 results: revenue $13.1 billion, down 9.0% on the year
Aptiv plc (APTV) reported revenue of $13.1 billion for fiscal 2020, the year ended 31 December 2020, down 9.0% on the year before. Net income was $1.8 billion, up 82.2%, and diluted earnings per share $6.66. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2021.
Revenue
$13.1 billion
-9.0% on the year
FY2013FY2020
Operating margin
16.2%
8.9% a year earlier
FY2013FY2020
Net income
$1.8 billion
+82.2% on the year
FY2013FY2020
Diluted EPS
$6.66
+73.0% 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
13,066
14,357
14,435
-9.0%
Cost of revenue
11,126
11,711
11,706
-5.0%
Gross profit
1,940
2,646
2,729
-26.7%
Gross margin
14.8%
18.4%
18.9%
Research and development
1,024
1,165
1,155
-12.1%
Selling, general and administrative
976
1,076
993
-9.3%
Operating income
2,118
1,276
1,473
+66.0%
Operating margin
16.2%
8.9%
10.2%
Interest expense
164
164
141
0.0%
Pre-tax income
1,954
1,126
1,334
+73.5%
Income tax
49.0
132
250
-62.9%
Effective tax rate
2.5%
11.7%
18.7%
Net income
1,804
990
1,067
+82.2%
Net margin
13.8%
6.9%
7.4%
Diluted EPS
$6.66
$3.85
$4.02
+73.0%
$ 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
1,413
1,624
1,628
-13.0%
Capital expenditure
584
781
846
-25.2%
Free cash flow
829
843
782
-1.7%
Free cash flow margin
6.3%
5.9%
5.4%
Cash from investing
-626
-1,111
-2,048
Cash from financing
1,613
-649
-555
Depreciation and amortisation
764
717
676
+6.6%
Share-based compensation
60.0
66.0
58.0
-9.1%
Buybacks
57.0
420
499
-86.4%
Dividends paid
56.0
226
233
-75.2%
Dividend per share
$0.22
$0.88
$0.88
-75.0%
Diluted shares, weighted
271m
257m
265m
+5.2%
Shares outstanding at period end
270m
255m
260m
+5.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
7,905
3,819
3,459
+107.0%
Non-controlling interest
195
192
211
+1.6%
Debt
4,101
4,364
4,344
-6.0%
Operating lease liabilities
300
329
0.0
-8.8%
Finance lease liabilities
14.0
18.0
n/a
-22.2%
Other liabilities
5,007
4,737
4,466
+5.7%
Total liabilities and equity
17,522
13,459
12,480
+30.2%
Fixed assets
3,301
3,309
3,179
-0.2%
Goodwill
2,580
2,407
2,524
+7.2%
Intangible assets
1,091
1,186
1,380
-8.0%
Cash and equivalents
2,821
412
567
+584.7%
Receivables
2,812
2,569
2,487
+9.5%
Inventory
1,297
1,286
1,277
+0.9%
Other assets
3,620
2,290
1,066
+58.1%
Total assets
17,522
13,459
12,480
+30.2%
10-K for the year ended 31 December 2020, filed 8 February 2021: the filing.