Ball (BALL) FY2019 results: revenue $11.5 billion, down 1.4% on the year
Ball Corp. (BALL) reported revenue of $11.5 billion for fiscal 2019, the year ended 31 December 2019, down 1.4% on the year before. Net income was $566 million, up 24.7%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$11.5 billion
-1.4% on the year
FY2012FY2019
Operating margin
8.1%
8.0% a year earlier
FY2012FY2019
Net income
$566 million
+24.7% on the year
FY2012FY2019
Diluted EPS
$1.66
+28.7% 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
11,474
11,635
10,983
-1.4%
Cost of revenue
9,203
9,329
8,717
-1.4%
Gross profit
1,775
1,798
1,757
-1.3%
Gross margin
15.5%
15.5%
16.0%
Research and development
44.0
32.0
27.0
+37.5%
Selling, general and administrative
417
478
514
-12.8%
Operating income
932
935
802
-0.3%
Operating margin
8.1%
8.0%
7.3%
Interest expense
317
301
285
+5.3%
Pre-tax income
608
633
514
-3.9%
Income tax
71.0
185
165
-61.6%
Effective tax rate
11.7%
29.2%
32.1%
Net income
566
454
374
+24.7%
Net margin
4.9%
3.9%
3.4%
Diluted EPS
$1.66
$1.29
$1.05
+28.7%
$ 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
1,548
1,566
1,478
-1.1%
Capital expenditure
598
816
556
-26.7%
Free cash flow
950
750
922
+26.7%
Free cash flow margin
8.3%
6.4%
8.4%
Cash from investing
-422
-206
-545
Cash from financing
-46.0
-1,040
-1,073
Depreciation and amortisation
678
702
729
-3.4%
Share-based compensation
37.0
75.0
46.0
-50.7%
Buybacks
964
739
103
+30.4%
Dividends paid
182
137
129
+32.8%
Dividend per share
$0.55
$0.40
$0.36
+37.5%
Diluted shares, weighted
340m
352m
357m
-3.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,949
3,458
3,941
-14.7%
Non-controlling interest
70.0
104
105
-32.7%
Debt
7,791
6,518
6,631
+19.5%
Operating lease liabilities
181
n/a
n/a
Other liabilities
6,369
6,474
6,492
-1.6%
Total liabilities and equity
17,360
16,554
17,169
+4.9%
Fixed assets
4,470
4,542
4,610
-1.6%
Goodwill
4,419
4,475
4,933
-1.3%
Intangible assets
2,002
2,188
2,462
-8.5%
Cash and equivalents
1,798
721
448
+149.4%
Receivables
1,186
1,280
1,343
-7.3%
Inventory
1,274
1,271
1,526
+0.2%
Other assets
2,211
2,077
1,847
+6.5%
Total assets
17,360
16,554
17,169
+4.9%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.