Dauch (DCH) FY2021 results: revenue $5.2 billion, up 9.5% on the year

Dauch Corp. (DCH) reported revenue of $5.2 billion for fiscal 2021, the year ended 31 December 2021, up 9.5% on the year before. Net income was $6 million, and diluted earnings per share $0.05. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2022.

Revenue

$5.2 billion

+9.5% on the year

FY2014FY2021

Operating margin

4.7%

-8.4% a year earlier

FY2014FY2021

Net income

$6 million

FY2014FY2021

Diluted EPS

$0.05

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	5,157	4,711	6,531	+9.5%
Cost of revenue	4,434	4,128	5,628	+7.4%
Gross profit	723	583	903	+24.0%
Gross margin	14.0%	12.4%	13.8%
Research and development	117	117	145	-0.5%
Selling, general and administrative	344	314	365	+9.7%
Operating income	241	-396	-302
Operating margin	4.7%	-8.4%	-4.6%
Interest expense	195	212	217	-8.1%
Pre-tax income	1.2	-610	-533
Income tax	-4.7	-49.2	-48.9
Effective tax rate	-391.7%	n/a	n/a
Net income	5.9	-561	-484
Net margin	0.1%	-11.9%	-7.4%
Diluted EPS	$0.05	-$4.96	-$4.31

$ million except per share.

Free 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	FY2021	FY2020	FY2019	On the year
Operating cash flow	538	455	560	+18.4%
Capital expenditure	181	216	433	-16.0%
Free cash flow	357	239	126	+49.4%
Free cash flow margin	6.9%	5.1%	1.9%
Cash from investing	-161	-218	-307
Cash from financing	-401	-214	-200
Depreciation and amortisation	544	522	537	+4.3%
Share-based compensation	18.2	19.4	22.4	-6.2%
Buybacks	4.3	2.7	7.5	+59.3%
Diluted shares, weighted	114m	113m	112m	+0.9%
Shares outstanding at period end	114m	113m	113m	+0.6%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	458	370	978	+23.6%
Non-controlling interest	0.0	2.7	2.8
Debt	3,138	3,501	3,692	-10.4%
Operating lease liabilities	99.9	94.4	96.7	+5.8%
Other liabilities	1,940	1,948	1,875	-0.4%
Total liabilities and equity	5,636	5,916	6,645	-4.7%
Fixed assets	1,996	2,164	2,358	-7.8%
Goodwill	184	186	699	-1.0%
Intangible assets	697	781	864	-10.7%
Cash and equivalents	530	557	532	-4.8%
Receivables	763	793	815	-3.8%
Inventory	410	323	374	+27.0%
Other assets	1,055	1,113	1,002	-5.2%
Total assets	5,636	5,916	6,645	-4.7%

10-K for the year ended 31 December 2021, filed 11 February 2022: the filing.