Cabot (CBT) FY2019 results: revenue $3.3 billion, up 2.9% on the year
Cabot Corp. (CBT) reported revenue of $3.3 billion for fiscal 2019, the year ended 30 September 2019, up 2.9% on the year before. Net income was $157 million, and diluted earnings per share $2.63. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2019.
Revenue
$3.3 billion
+2.9% on the year
FY2012FY2019
Operating margin
9.2%
4.4% a year earlier
FY2012FY2019
Net income
$157 million
FY2012FY2019
Diluted EPS
$2.63
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
3,337
3,242
2,717
+2.9%
Cost of revenue
2,652
2,470
2,060
+7.4%
Gross profit
685
772
657
-11.3%
Gross margin
20.5%
23.8%
24.2%
Research and development
60.0
66.0
57.0
-9.1%
Selling, general and administrative
290
308
262
-5.8%
Operating income
306
144
338
+112.5%
Operating margin
9.2%
4.4%
12.4%
Interest expense
59.0
54.0
53.0
+9.3%
Pre-tax income
255
117
299
+117.9%
Income tax
70.0
193
33.0
-63.7%
Effective tax rate
27.5%
165.0%
11.0%
Net income
157
-113
248
Net margin
4.7%
-3.5%
9.1%
Diluted EPS
$2.63
-$1.85
$3.91
$ 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
363
298
348
+21.8%
Capital expenditure
224
229
147
-2.2%
Free cash flow
139
69.0
201
+101.4%
Free cash flow margin
4.2%
2.1%
7.4%
Cash from investing
-94.0
-246
-149
Cash from financing
-236
-141
-133
Depreciation and amortisation
148
149
155
-0.7%
Share-based compensation
11.0
22.0
16.0
-50.0%
Buybacks
173
142
61.0
+21.8%
Dividends paid
80.0
80.0
77.0
0.0%
Dividend per share
$1.36
$1.29
$1.23
+5.4%
Diluted shares, weighted
59m
62m
63m
-4.7%
Shares outstanding at period end
57m
60m
62m
-5.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
998
1,154
1,504
-13.5%
Non-controlling interest
136
125
121
+8.8%
Redeemable equity
n/a
n/a
27.0
Debt
1,064
1,003
924
+6.1%
Other liabilities
806
962
762
-16.2%
Total liabilities and equity
3,004
3,244
3,338
-7.4%
Fixed assets
1,348
1,296
1,305
+4.0%
Goodwill
90.0
93.0
154
-3.2%
Intangible assets
96.0
98.0
137
-2.0%
Cash and equivalents
169
175
280
-3.4%
Inventory
466
511
433
-8.8%
Other assets
835
1,071
1,029
-22.0%
Total assets
3,004
3,244
3,338
-7.4%
10-K for the year ended 30 September 2019, filed 22 November 2019: the filing.