Boise Cascade (BCC) FY2020 results: revenue $5.5 billion, up 17.9% on the year
Boise Cascade Co. (BCC) reported revenue of $5.5 billion for fiscal 2020, the year ended 31 December 2020, up 17.9% on the year before. Net income was $175 million, up 116.2%, and diluted earnings per share $4.44. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$5.5 billion
+17.9% on the year
FY2013FY2020
Operating margin
6.1%
2.9% a year earlier
FY2013FY2020
Net income
$175 million
+116.2% on the year
FY2013FY2020
Diluted EPS
$4.44
+115.5% 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
5,475
4,643
4,995
+17.9%
Cost of revenue
4,536
3,966
4,308
+14.4%
Gross profit
939
678
688
+38.5%
Gross margin
17.1%
14.6%
13.8%
Operating income
335
136
72.0
+145.5%
Operating margin
6.1%
2.9%
1.4%
Interest expense
26.2
26.1
26.2
+0.7%
Pre-tax income
286
108
22.1
+164.5%
Income tax
111
27.3
1.6
+307.7%
Effective tax rate
38.9%
25.2%
7.4%
Net income
175
80.9
20.5
+116.2%
Net margin
3.2%
1.7%
0.4%
Diluted EPS
$4.44
$2.06
$0.52
+115.5%
$ 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
295
246
164
+19.9%
Capital expenditure
79.4
82.7
80.0
-4.0%
Free cash flow
215
163
83.6
+32.0%
Free cash flow margin
3.9%
3.5%
1.7%
Cash from investing
-78.7
-94.1
-89.3
Cash from financing
-95.7
-58.0
-59.8
Depreciation and amortisation
95.2
80.1
147
+18.8%
Share-based compensation
7.8
8.0
8.8
-1.9%
Buybacks
0.0
0.0
4.9
Dividends paid
79.2
54.0
50.6
+46.8%
Dividend per share
$2.00
$1.37
$1.30
+46.0%
Diluted shares, weighted
39m
39m
39m
+0.5%
Shares outstanding at period end
39m
39m
39m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
851
701
673
+21.3%
Debt
444
441
439
+0.7%
Operating lease liabilities
56.0
58.0
0.0
-3.5%
Finance lease liabilities
31.6
23.4
0.0
+35.0%
Other liabilities
584
470
469
+24.1%
Total liabilities and equity
1,966
1,693
1,581
+16.1%
Fixed assets
461
477
487
-3.2%
Goodwill
60.4
60.4
59.2
0.0%
Intangible assets
16.6
17.8
16.9
-6.9%
Cash and equivalents
405
285
192
+42.1%
Receivables
376
216
214
+74.1%
Inventory
503
498
533
+1.2%
Other assets
143
139
79.0
+2.2%
Total assets
1,966
1,693
1,581
+16.1%
10-K for the year ended 31 December 2020, filed 22 February 2021: the filing.