Clearway Energy (CWEN) FY2020 results: revenue $1.2 billion, up 16.2% on the year
Clearway Energy, Inc. (CWEN) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, up 16.2% on the year before. Net income was $25 million, and diluted earnings per share $0.22. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.2 billion
+16.2% on the year
FY2013FY2020
Operating margin
27.8%
21.7% a year earlier
FY2013FY2020
Net income
$25 million
FY2013FY2020
Diluted EPS
$0.22
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
1,199
1,032
1,053
+16.2%
Cost of revenue
366
337
327
+8.6%
Gross profit
833
695
726
+19.9%
Gross margin
69.5%
67.3%
68.9%
Operating income
333
224
347
+48.7%
Operating margin
27.8%
21.7%
33.0%
Interest expense
415
404
306
+2.7%
Pre-tax income
-54.0
-104
116
Income tax
8.0
-8.0
62.0
Effective tax rate
n/a
n/a
53.4%
Net income
25.0
-11.0
48.0
Net margin
2.1%
-1.1%
4.6%
Diluted EPS
$0.22
-$0.10
$0.46
$ 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
545
477
498
+14.3%
Capital expenditure
124
228
83.0
-45.6%
Free cash flow
421
249
415
+69.1%
Free cash flow margin
35.1%
24.1%
39.4%
Cash from investing
-62.0
-468
-185
Cash from financing
-435
-175
-46.0
Depreciation and amortisation
428
401
336
+6.7%
Share-based compensation
3.0
4.0
3.0
-25.0%
Dividends paid
211
155
238
+36.1%
Diluted shares, weighted
35m
n/a
n/a
Shares outstanding at period end
202m
199m
193m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,715
2,263
2,224
+20.0%
Debt
7,043
6,858
6,044
+2.7%
Operating lease liabilities
345
227
0.0
+52.0%
Other liabilities
489
352
232
+38.9%
Total liabilities and equity
10,592
9,700
8,500
+9.2%
Fixed assets
7,217
6,063
5,245
+19.0%
Intangible assets
1,370
1,428
1,156
-4.1%
Cash and equivalents
268
155
407
+72.9%
Receivables
143
116
104
+23.3%
Inventory
42.0
40.0
40.0
+5.0%
Other assets
1,552
1,898
1,548
-18.2%
Total assets
10,592
9,700
8,500
+9.2%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.