CNH Industrial (CNH) FY2020 results: revenue $14.8 billion, down 47.4% on the year
CNH Industrial N.V. (CNH) reported revenue of $14.8 billion for fiscal 2020, the year ended 31 December 2020, down 47.4% on the year before. Net income was -$493 million, and diluted earnings per share $-0.36. The figures are the company's own, from the 20-F it filed with the SEC on 3 March 2021.
Revenue
$14.8 billion
-47.4% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
-$493 million
FY2013FY2020
Diluted EPS
-$0.36
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
14,779
28,079
29,706
-47.4%
Cost of revenue
11,152
21,832
22,958
-48.9%
Gross profit
3,627
6,247
6,748
-41.9%
Gross margin
24.5%
22.2%
22.7%
Research and development
493
1,030
1,061
-52.1%
Selling, general and administrative
1,296
2,216
2,351
-41.5%
Interest expense
660
798
812
-17.3%
Pre-tax income
-179
1,170
1,466
Income tax
85.0
-271
417
Effective tax rate
n/a
-23.2%
28.4%
Net income
-493
1,422
1,068
Net margin
-3.3%
5.1%
3.6%
Diluted EPS
-$0.36
$1.05
$0.78
$ 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
5,529
1,826
2,554
+202.8%
Cash from investing
-2,750
-1,987
-1,920
Cash from financing
659
206
-723
+219.9%
Depreciation and amortisation
299
660
703
-54.7%
Share-based compensation
30.0
33.0
35.0
-9.1%
Dividends paid
8.0
283
243
-97.2%
Dividend per share
$0.00
$0.20
$0.17
Diluted shares, weighted
1,351m
1,354m
1,361m
-0.2%
Shares outstanding at period end
1,354m
1,350m
1,354m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,989
6,121
5,068
-18.5%
Redeemable equity
40.0
35.0
30.0
+14.3%
Other liabilities
43,690
41,196
41,002
+6.1%
Total liabilities and equity
48,719
47,352
46,100
+2.9%
Fixed assets
4,923
5,269
5,901
-6.6%
Goodwill
1,838
2,538
2,453
-27.6%
Intangible assets
772
806
788
-4.2%
Loans
n/a
19,428
19,167
Cash and equivalents
8,785
4,875
5,031
+80.2%
Inventory
6,022
7,082
6,726
-15.0%
Other assets
26,379
7,354
6,034
+258.7%
Total assets
48,719
47,352
46,100
+2.9%
20-F for the year ended 31 December 2020, filed 3 March 2021: the filing.