Arrow Electronics (ARW) FY2019 results: revenue $28.9 billion, down 2.6% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $28.9 billion for fiscal 2019, the year ended 31 December 2019, down 2.6% on the year before. Net income was -$204 million, and diluted earnings per share $-2.44. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$28.9 billion
-2.6% on the year
FY2012FY2019
Operating margin
0.4%
3.9% a year earlier
FY2012FY2019
Net income
-$204 million
FY2012FY2019
Diluted EPS
-$2.44
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
28,917
29,677
26,555
-2.6%
Cost of revenue
25,618
25,976
23,198
-1.4%
Gross profit
3,298
3,701
3,357
-10.9%
Gross margin
11.4%
12.5%
12.6%
Selling, general and administrative
2,192
2,303
2,163
-4.8%
Operating income
108
1,148
946
-90.6%
Operating margin
0.4%
3.9%
3.6%
Income tax
88.3
188
287
-53.0%
Net income
-204
716
402
Net margin
-0.7%
2.4%
1.5%
Diluted EPS
-$2.44
$8.10
$4.48
$ 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
858
273
125
+214.6%
Capital expenditure
143
135
204
+5.8%
Free cash flow
715
137
-79.4
+420.4%
Free cash flow margin
2.5%
0.5%
-0.3%
Cash from investing
-174
-463
-189
Cash from financing
-906
-36.8
257
Depreciation and amortisation
190
186
154
+1.8%
Share-based compensation
41.1
46.2
39.1
-11.2%
Buybacks
404
243
174
+66.1%
Diluted shares, weighted
84m
88m
90m
-5.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,812
5,325
4,952
-9.6%
Non-controlling interest
54.5
51.4
48.7
+6.0%
Debt
2,972
3,485
3,290
-14.7%
Operating lease liabilities
252
n/a
n/a
Other liabilities
8,311
8,923
8,173
-6.9%
Total liabilities and equity
16,401
17,784
16,463
-7.8%
Fixed assets
803
825
838
-2.6%
Goodwill
2,061
2,625
2,470
-21.5%
Intangible assets
272
373
286
-27.0%
Cash and equivalents
300
509
730
-41.1%
Receivables
8,483
8,945
8,126
-5.2%
Inventory
3,477
3,879
3,303
-10.4%
Other assets
1,005
629
710
+59.7%
Total assets
16,401
17,784
16,463
-7.8%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.