Charles River Laboratories International (CRL) FY2020 results: revenue $2.9 billion, up 11.5% on the year
Charles River Laboratories International, Inc. (CRL) reported revenue of $2.9 billion for fiscal 2020, the year ended 26 December 2020, up 11.5% on the year before. Net income was $364 million, up 44.6%, and diluted earnings per share $7.20. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$2.9 billion
+11.5% on the year
FY2013FY2020
Operating margin
14.8%
13.4% a year earlier
FY2013FY2020
Net income
$364 million
+44.6% on the year
FY2013FY2020
Diluted EPS
$7.20
+42.0% 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
2,924
2,621
2,266
+11.5%
Cost of revenue
1,850
1,663
1,426
+11.3%
Gross profit
1,074
958
840
+12.0%
Gross margin
36.7%
36.6%
37.1%
Selling, general and administrative
529
518
444
+2.2%
Operating income
433
351
331
+23.2%
Operating margin
14.8%
13.4%
14.6%
Interest expense
86.4
60.9
63.8
+42.0%
Pre-tax income
447
304
282
+47.0%
Income tax
81.8
50.0
54.5
+63.5%
Effective tax rate
18.3%
16.5%
19.3%
Net income
364
252
226
+44.6%
Net margin
12.5%
9.6%
10.0%
Diluted EPS
$7.20
$5.07
$4.62
+42.0%
$ 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
547
481
441
+13.6%
Capital expenditure
167
141
140
+18.5%
Free cash flow
380
340
301
+11.6%
Free cash flow margin
13.0%
13.0%
13.3%
Cash from investing
-602
-682
-955
Cash from financing
47.2
232
558
-79.6%
Depreciation and amortisation
235
198
162
+18.6%
Share-based compensation
56.3
57.3
47.3
-1.6%
Buybacks
24.0
18.1
13.8
+32.6%
Diluted shares, weighted
51m
50m
49m
+1.8%
Shares outstanding at period end
50m
49m
48m
+1.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,115
1,635
1,317
+29.4%
Non-controlling interest
3.6
3.2
2.4
+10.0%
Redeemable equity
25.5
28.6
18.5
-11.0%
Debt
1,980
1,888
1,668
+4.8%
Operating lease liabilities
156
116
n/a
+33.8%
Finance lease liabilities
26.0
27.5
n/a
-5.5%
Other liabilities
1,186
994
850
+19.3%
Total liabilities and equity
5,491
4,693
3,856
+17.0%
Fixed assets
1,124
1,044
933
+7.7%
Goodwill
1,809
1,541
1,247
+17.4%
Intangible assets
788
689
611
+14.2%
Investments
1.0
0.9
0.9
+8.8%
Cash and equivalents
228
238
195
-4.0%
Receivables
618
514
472
+20.2%
Inventory
186
161
128
+15.6%
Other assets
737
505
269
+45.9%
Total assets
5,491
4,693
3,856
+17.0%
10-K for the year ended 26 December 2020, filed 17 February 2021: the filing.