Cabot (CBT) FY2020 results: revenue $2.6 billion, down 21.7% on the year
Cabot Corp. (CBT) reported revenue of $2.6 billion for fiscal 2020, the year ended 30 September 2020, down 21.7% on the year before. Net income was -$238 million, and diluted earnings per share $-4.21. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2020.
Revenue
$2.6 billion
-21.7% on the year
FY2013FY2020
Operating margin
0.8%
9.2% a year earlier
FY2013FY2020
Net income
-$238 million
FY2013FY2020
Diluted EPS
-$4.21
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
2,614
3,337
3,242
-21.7%
Cost of revenue
2,114
2,652
2,470
-20.3%
Gross profit
500
685
772
-27.0%
Gross margin
19.1%
20.5%
23.8%
Research and development
57.0
60.0
66.0
-5.0%
Selling, general and administrative
292
290
308
+0.7%
Operating income
21.0
306
144
-93.1%
Operating margin
0.8%
9.2%
4.4%
Interest expense
53.0
59.0
54.0
-10.2%
Pre-tax income
-33.0
255
117
Income tax
191
70.0
193
+172.9%
Effective tax rate
n/a
27.5%
165.0%
Net income
-238
157
-113
Net margin
-9.1%
4.7%
-3.5%
Diluted EPS
-$4.21
$2.63
-$1.85
$ 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
377
363
298
+3.9%
Capital expenditure
200
224
229
-10.7%
Free cash flow
177
139
69.0
+27.3%
Free cash flow margin
6.8%
4.2%
2.1%
Cash from investing
-288
-94.0
-246
Cash from financing
-132
-236
-141
Depreciation and amortisation
158
148
149
+6.8%
Share-based compensation
9.0
11.0
22.0
-18.2%
Buybacks
44.0
173
142
-74.6%
Dividends paid
80.0
80.0
80.0
0.0%
Dividend per share
$1.40
$1.36
$1.29
+2.9%
Diluted shares, weighted
57m
59m
62m
-3.7%
Shares outstanding at period end
56m
57m
60m
-1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
691
998
1,154
-30.8%
Non-controlling interest
123
136
125
-9.6%
Debt
1,115
1,064
1,003
+4.8%
Operating lease liabilities
89.0
n/a
n/a
Finance lease liabilities
28.0
n/a
n/a
Other liabilities
735
806
962
-8.8%
Total liabilities and equity
2,781
3,004
3,244
-7.4%
Fixed assets
1,314
1,348
1,296
-2.5%
Goodwill
134
90.0
93.0
+48.9%
Intangible assets
103
96.0
98.0
+7.3%
Cash and equivalents
151
169
175
-10.7%
Inventory
359
466
511
-23.0%
Other assets
720
835
1,071
-13.8%
Total assets
2,781
3,004
3,244
-7.4%
10-K for the year ended 30 September 2020, filed 25 November 2020: the filing.