Ball (BALL) FY2020 results: revenue $11.8 billion, up 2.7% on the year
Ball Corp. (BALL) reported revenue of $11.8 billion for fiscal 2020, the year ended 31 December 2020, up 2.7% on the year before. Net income was $585 million, up 3.4%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$11.8 billion
+2.7% on the year
FY2013FY2020
Operating margin
8.5%
8.1% a year earlier
FY2013FY2020
Net income
$585 million
+3.4% on the year
FY2013FY2020
Diluted EPS
$1.76
+6.0% 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
11,781
11,474
11,635
+2.7%
Cost of revenue
9,323
9,203
9,329
+1.3%
Gross profit
2,458
1,775
1,798
+38.5%
Gross margin
20.9%
15.5%
15.5%
Research and development
47.0
44.0
32.0
+6.8%
Selling, general and administrative
525
417
478
+25.9%
Operating income
1,003
932
935
+7.6%
Operating margin
8.5%
8.1%
8.0%
Interest expense
275
317
301
-13.2%
Pre-tax income
687
608
633
+13.0%
Income tax
99.0
71.0
185
+39.4%
Effective tax rate
14.4%
11.7%
29.2%
Net income
585
566
454
+3.4%
Net margin
5.0%
4.9%
3.9%
Diluted EPS
$1.76
$1.66
$1.29
+6.0%
$ 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
1,432
1,548
1,566
-7.5%
Capital expenditure
1,113
598
816
+86.1%
Free cash flow
319
950
750
-66.4%
Free cash flow margin
2.7%
8.3%
6.4%
Cash from investing
-1,181
-422
-206
Cash from financing
-602
-46.0
-1,040
Depreciation and amortisation
668
678
702
-1.5%
Share-based compensation
43.0
37.0
75.0
+16.2%
Buybacks
57.0
964
739
-94.1%
Dividends paid
198
182
137
+8.8%
Dividend per share
$0.60
$0.55
$0.40
+9.1%
Diluted shares, weighted
333m
340m
352m
-2.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,275
2,949
3,458
+11.1%
Non-controlling interest
62.0
70.0
104
-11.4%
Debt
7,783
7,791
6,518
-0.1%
Operating lease liabilities
232
181
n/a
+28.2%
Finance lease liabilities
10.0
n/a
n/a
Other liabilities
6,890
6,369
6,474
+8.2%
Total liabilities and equity
18,252
17,360
16,554
+5.1%
Fixed assets
n/a
4,470
4,542
Goodwill
4,484
4,419
4,475
+1.5%
Intangible assets
1,883
2,002
2,188
-5.9%
Cash and equivalents
1,366
1,798
721
-24.0%
Receivables
1,344
1,186
1,280
+13.3%
Inventory
1,353
1,274
1,271
+6.2%
Other assets
7,822
2,211
2,077
+253.8%
Total assets
18,252
17,360
16,554
+5.1%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.