CSX (CSX) FY2019 results: revenue $11.9 billion, down 2.6% on the year
CSX Corp. (CSX) reported revenue of $11.9 billion for fiscal 2019, the year ended 31 December 2019, down 2.6% on the year before. Net income was $3.3 billion, up 0.7%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2020.
Revenue
$11.9 billion
-2.6% on the year
FY2012FY2019
Operating margin
41.6%
39.7% a year earlier
FY2012FY2019
Net income
$3.3 billion
+0.7% on the year
FY2012FY2019
Diluted EPS
$1.39
+8.6% on the year
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
11,937
12,250
11,408
-2.6%
Operating income
4,965
4,869
3,720
+2.0%
Operating margin
41.6%
39.7%
32.6%
Interest expense
n/a
n/a
546
Pre-tax income
4,316
4,304
3,142
+0.3%
Income tax
985
995
-2,329
-1.0%
Effective tax rate
22.8%
23.1%
-74.1%
Net income
3,331
3,309
5,471
+0.7%
Net margin
27.9%
27.0%
48.0%
Diluted EPS
$1.39
$1.28
$2.00
+8.6%
$ 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
4,850
4,641
3,472
+4.5%
Capital expenditure
1,657
1,745
2,040
-5.0%
Free cash flow
3,193
2,896
1,432
+10.3%
Free cash flow margin
26.7%
23.6%
12.6%
Cash from investing
-2,102
-1,684
-1,495
Cash from financing
-2,648
-2,500
-2,179
Share-based compensation
74.0
51.0
89.0
+45.1%
Buybacks
3,373
4,671
1,970
-27.8%
Dividends paid
763
751
708
+1.6%
Dividend per share
$0.32
$0.29
$0.26
+9.1%
Diluted shares, weighted
2,394m
2,583m
2,742m
-7.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
11,863
12,580
14,721
-5.7%
Debt
16,238
14,739
11,790
+10.2%
Operating lease liabilities
493
0.0
n/a
Other liabilities
9,663
9,410
9,228
+2.7%
Total liabilities and equity
38,257
36,729
35,739
+4.2%
Fixed assets
32,168
31,998
31,764
+0.5%
Goodwill
63.0
n/a
63.0
Intangible assets
0.0
n/a
n/a
Investments
996
253
18.0
+293.7%
Cash and equivalents
958
858
401
+11.7%
Receivables
986
1,010
970
-2.4%
Other assets
3,086
2,610
2,523
+18.2%
Total assets
38,257
36,729
35,739
+4.2%
10-K for the year ended 31 December 2019, filed 12 February 2020: the filing.