Crane Nxt (CXT) FY2020 results: revenue $2.9 billion, down 4.5% on the year
Crane Nxt, Co. (CXT) reported revenue of $2.9 billion for fiscal 2020, the year ended 31 December 2020, down 4.5% on the year before. Net income was $181 million, up 35.8%, and diluted earnings per share $3.08. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$2.9 billion
-4.5% on the year
FY2013FY2020
Operating margin
9.0%
6.0% a year earlier
FY2013FY2020
Net income
$181 million
+35.8% on the year
FY2013FY2020
Diluted EPS
$3.08
+40.0% 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
2,937
3,074
3,346
-4.5%
Cost of revenue
1,931
1,942
2,156
-0.6%
Gross profit
965
1,132
1,189
-14.8%
Gross margin
32.9%
36.8%
35.5%
Research and development
74.6
74.0
89.1
+0.8%
Selling, general and administrative
698
679
712
+2.9%
Operating income
263
183
441
+43.6%
Operating margin
9.0%
6.0%
13.2%
Interest expense
55.3
46.8
50.9
+18.2%
Pre-tax income
224
144
411
+56.0%
Income tax
43.4
31.3
75.9
+38.7%
Effective tax rate
19.3%
21.8%
18.4%
Net income
181
133
336
+35.8%
Net margin
6.2%
4.3%
10.0%
Diluted EPS
$3.08
$2.20
$5.50
+40.0%
$ 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
310
394
414
-21.4%
Capital expenditure
34.1
64.4
109
-47.0%
Free cash flow
275
330
305
-16.4%
Free cash flow margin
9.4%
10.7%
9.1%
Cash from investing
-229
-221
-752
Cash from financing
55.1
-125
-7.9
Depreciation and amortisation
128
108
120
+18.2%
Share-based compensation
22.3
21.8
21.6
+2.3%
Buybacks
70.0
79.9
50.1
-12.4%
Dividends paid
100
93.2
83.5
+7.7%
Dividend per share
$1.72
$1.56
$1.40
+10.3%
Diluted shares, weighted
59m
61m
61m
-3.0%
Shares outstanding at period end
58m
59m
60m
-1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
914
1,474
1,524
-38.0%
Non-controlling interest
2.2
2.6
2.9
-15.4%
Debt
1,219
991
949
+22.9%
Operating lease liabilities
86.5
91.5
n/a
-5.5%
Other liabilities
2,394
1,864
1,566
+28.4%
Total liabilities and equity
4,615
4,424
4,043
+4.3%
Fixed assets
574
616
599
-6.9%
Goodwill
1,609
1,301
1,404
+23.7%
Intangible assets
433
505
478
-14.2%
Cash and equivalents
551
394
343
+39.9%
Receivables
424
555
516
-23.6%
Inventory
430
457
412
-6.0%
Other assets
594
595
291
-0.1%
Total assets
4,615
4,424
4,043
+4.3%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.