Crane Nxt (CXT) FY2019 results: revenue $3.1 billion, down 8.1% on the year
Crane Nxt, Co. (CXT) reported revenue of $3.1 billion for fiscal 2019, the year ended 31 December 2019, down 8.1% on the year before. Net income was $133 million, down 60.3%, and diluted earnings per share $2.20. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$3.1 billion
-8.1% on the year
FY2012FY2019
Operating margin
6.0%
13.2% a year earlier
FY2012FY2019
Net income
$133 million
-60.3% on the year
FY2012FY2019
Diluted EPS
$2.20
-60.0% 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
3,074
3,346
2,786
-8.1%
Cost of revenue
1,942
2,156
1,771
-9.9%
Gross profit
1,132
1,189
1,015
-4.8%
Gross margin
36.8%
35.5%
36.4%
Research and development
74.0
89.1
58.5
-16.9%
Selling, general and administrative
679
712
606
-4.7%
Operating income
183
441
388
-58.5%
Operating margin
6.0%
13.2%
13.9%
Interest expense
46.8
50.9
36.1
-8.1%
Pre-tax income
144
411
368
-65.0%
Income tax
31.3
75.9
195
-58.8%
Effective tax rate
21.8%
18.4%
53.1%
Net income
133
336
172
-60.3%
Net margin
4.3%
10.0%
6.2%
Diluted EPS
$2.20
$5.50
$2.84
-60.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
394
414
318
-4.8%
Capital expenditure
64.4
109
49.0
-40.8%
Free cash flow
330
305
268
+8.0%
Free cash flow margin
10.7%
9.1%
9.6%
Cash from investing
-221
-752
-86.7
Cash from financing
-125
-7.9
-80.8
Depreciation and amortisation
108
120
72.7
-10.1%
Share-based compensation
21.8
21.6
21.8
+0.9%
Buybacks
79.9
50.1
25.0
+59.5%
Dividends paid
93.2
83.5
78.4
+11.6%
Dividend per share
$1.56
$1.40
$1.32
+11.4%
Diluted shares, weighted
61m
61m
60m
-0.7%
Shares outstanding at period end
59m
60m
59m
-0.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,474
1,524
1,345
-3.3%
Non-controlling interest
2.6
2.9
3.3
-10.3%
Debt
991
949
744
+4.4%
Operating lease liabilities
91.5
n/a
n/a
Other liabilities
1,864
1,566
1,502
+19.0%
Total liabilities and equity
4,424
4,043
3,594
+9.4%
Fixed assets
616
599
282
+2.9%
Goodwill
1,301
1,404
1,207
-7.3%
Intangible assets
505
478
277
+5.6%
Cash and equivalents
394
343
706
+14.7%
Receivables
555
516
418
+7.6%
Inventory
457
412
349
+11.1%
Other assets
595
291
354
+104.5%
Total assets
4,424
4,043
3,594
+9.4%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.