Astec Industries (ASTE) FY2020 results: revenue $1.0 billion, down 12.4% on the year
Astec Industries Inc. (ASTE) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, down 12.4% on the year before. Net income was $46 million, up 106.2%, and diluted earnings per share $2.01. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.0 billion
-12.4% on the year
FY2013FY2020
Operating margin
4.0%
2.1% a year earlier
FY2013FY2020
Net income
$46 million
+106.2% on the year
FY2013FY2020
Diluted EPS
$2.01
+105.1% 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
1,024
1,170
1,172
-12.4%
Cost of revenue
787
930
1,036
-15.4%
Gross profit
238
239
136
-0.8%
Gross margin
23.2%
20.5%
11.6%
Research and development
22.1
27.2
28.3
-18.8%
Selling, general and administrative
167
184
181
-9.3%
Operating income
40.5
25.1
-86.4
+61.6%
Operating margin
4.0%
2.1%
-7.4%
Interest expense
0.7
1.4
1.0
-50.0%
Pre-tax income
44.5
25.2
-86.0
+76.6%
Income tax
-1.5
3.0
-25.2
Effective tax rate
-3.4%
11.9%
n/a
Net income
46.0
22.3
-60.4
+106.2%
Net margin
4.5%
1.9%
-5.2%
Diluted EPS
$2.01
$0.98
-$2.64
+105.1%
$ 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
142
112
-30.0
+25.9%
Capital expenditure
15.4
23.4
27.4
-34.1%
Free cash flow
126
89.1
-57.4
+41.6%
Free cash flow margin
12.3%
7.6%
-4.9%
Cash from investing
-20.9
-21.6
-27.4
Cash from financing
-10.4
-68.1
22.8
Depreciation and amortisation
26.9
26.2
27.9
+2.7%
Share-based compensation
5.1
2.6
2.2
+96.2%
Buybacks
0.0
0.0
24.1
Dividends paid
10.0
10.0
9.6
0.0%
Dividend per share
$0.44
$0.44
$0.42
0.0%
Diluted shares, weighted
23m
23m
23m
+0.9%
Shares outstanding at period end
23m
23m
23m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
642
602
585
+6.7%
Non-controlling interest
0.5
0.5
0.7
0.0%
Short-term borrowings
n/a
n/a
0.0
Debt
2.0
2.0
60.1
0.0%
Operating lease liabilities
4.7
2.0
n/a
+135.0%
Other liabilities
198
194
210
+2.3%
Total liabilities and equity
848
800
855
+6.0%
Fixed assets
173
190
192
-9.2%
Goodwill
38.7
33.1
32.7
+16.9%
Intangible assets
31.2
23.5
25.4
+32.6%
Investments
18.0
17.6
16.8
+2.2%
Trading assets
18.0
17.6
16.8
+2.3%
Cash and equivalents
159
48.9
25.8
+224.6%
Receivables
116
120
131
-3.6%
Inventory
250
295
356
-15.2%
Other assets
45.3
54.6
58.9
-17.1%
Total assets
848
800
855
+6.0%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.