Bruker (BRKR) FY2020 results: revenue $2.0 billion, down 4.1% on the year
Bruker Corp. (BRKR) reported revenue of $2.0 billion for fiscal 2020, the year ended 31 December 2020, down 4.1% on the year before. Net income was $158 million, down 20.0%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$2.0 billion
-4.1% on the year
FY2013FY2020
Operating margin
12.5%
14.5% a year earlier
FY2013FY2020
Net income
$158 million
-20.0% on the year
FY2013FY2020
Diluted EPS
$1.02
-19.0% 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
1,988
2,073
1,896
-4.1%
Cost of revenue
1,048
1,077
996
-2.7%
Gross profit
940
995
900
-5.6%
Gross margin
47.3%
48.0%
47.5%
Research and development
198
188
173
+5.5%
Selling, general and administrative
469
500
445
-6.3%
Operating income
248
301
262
-17.5%
Operating margin
12.5%
14.5%
13.8%
Interest expense
14.4
16.0
12.6
-10.0%
Pre-tax income
226
280
245
-19.5%
Income tax
64.4
82.4
63.7
-21.8%
Effective tax rate
28.5%
29.4%
26.0%
Net income
158
197
180
-20.0%
Net margin
7.9%
9.5%
9.5%
Diluted EPS
$1.02
$1.26
$1.14
-19.0%
$ 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
332
213
240
+55.7%
Capital expenditure
97.2
73.0
49.2
+33.2%
Free cash flow
235
140
190
+67.4%
Free cash flow margin
11.8%
6.8%
10.0%
Cash from investing
-193
-158
-123
Cash from financing
-162
300
-112
Depreciation and amortisation
80.4
75.6
64.9
+6.3%
Share-based compensation
16.0
9.6
11.3
+66.7%
Buybacks
123
142
n/a
-13.4%
Dividends paid
24.6
25.0
25.1
-1.6%
Dividend per share
$0.16
$0.16
$0.16
0.0%
Diluted shares, weighted
155m
157m
157m
-1.3%
Shares outstanding at period end
152m
154m
157m
-1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
961
907
897
+6.0%
Non-controlling interest
13.1
10.3
8.5
+27.2%
Redeemable equity
0.0
21.1
22.6
Debt
844
813
341
+3.8%
Operating lease liabilities
47.0
47.0
n/a
0.0%
Finance lease liabilities
2.6
1.1
n/a
+136.4%
Other liabilities
1,181
972
860
+21.5%
Total liabilities and equity
3,049
2,772
2,129
+10.0%
Fixed assets
396
306
271
+29.2%
Goodwill
320
293
276
+9.4%
Intangible assets
229
233
219
-1.8%
Investments
50.0
6.6
0.0
+657.6%
Cash and equivalents
682
678
322
+0.5%
Receivables
335
362
357
-7.4%
Inventory
692
577
510
+19.9%
Other assets
345
315
174
+9.4%
Total assets
3,049
2,772
2,129
+10.0%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.