Chemours (CC) FY2020 results: revenue $5.0 billion, down 10.1% on the year
Chemours Co. (CC) reported revenue of $5.0 billion for fiscal 2020, the year ended 31 December 2020, down 10.1% on the year before. Net income was $219 million, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$5.0 billion
-10.1% on the year
FY2013FY2020
Operating margin
7.4%
6.3% a year earlier
FY2013FY2020
Net income
$219 million
FY2013FY2020
Diluted EPS
$1.32
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
4,969
5,526
6,638
-10.1%
Cost of revenue
3,902
4,463
4,667
-12.6%
Gross profit
1,067
1,063
1,971
+0.4%
Gross margin
21.5%
19.2%
29.7%
Research and development
93.0
80.0
82.0
+16.2%
Selling, general and administrative
527
548
657
-3.8%
Operating income
367
348
1,183
+5.5%
Operating margin
7.4%
6.3%
17.8%
Interest expense
210
208
195
+1.0%
Pre-tax income
179
-124
1,155
Income tax
-40.0
-72.0
159
Effective tax rate
-22.3%
n/a
13.8%
Net income
219
-52.0
995
Net margin
4.4%
-0.9%
15.0%
Diluted EPS
$1.32
-$0.32
$5.45
$ 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
807
650
1,140
+24.2%
Capital expenditure
267
481
498
-44.5%
Free cash flow
540
169
642
+219.5%
Free cash flow margin
10.9%
3.1%
9.7%
Cash from investing
-234
-483
-487
Cash from financing
-449
-419
-993
Depreciation and amortisation
320
311
284
+2.9%
Share-based compensation
16.0
19.0
24.0
-15.8%
Buybacks
0.0
322
644
Dividends paid
164
164
148
0.0%
Dividend per share
$1.00
$1.00
$0.67
0.0%
Diluted shares, weighted
166m
165m
183m
+0.9%
Shares outstanding at period end
165m
164m
171m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
813
689
1,014
+18.0%
Non-controlling interest
2.0
6.0
6.0
-66.7%
Debt
4,026
4,160
3,959
-3.2%
Operating lease liabilities
194
245
n/a
-20.8%
Finance lease liabilities
67.0
54.0
n/a
+24.1%
Other liabilities
1,980
2,104
2,383
-5.9%
Total liabilities and equity
7,082
7,258
7,362
-2.4%
Fixed assets
3,474
3,559
3,291
-2.4%
Goodwill
153
153
n/a
0.0%
Intangible assets
14.0
21.0
28.0
-33.3%
Cash and equivalents
1,105
943
1,201
+17.2%
Receivables
449
602
790
-25.4%
Inventory
939
1,079
1,147
-13.0%
Other assets
948
901
905
+5.2%
Total assets
7,082
7,258
7,362
-2.4%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.