Dauch (DCH) FY2023 results: revenue $6.1 billion, up 4.8% on the year

Dauch Corp. (DCH) reported revenue of $6.1 billion for fiscal 2023, the year ended 31 December 2023, up 4.8% on the year before. Net income was -$34 million, and diluted earnings per share $-0.29. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.

Revenue

$6.1 billion

+4.8% on the year

FY2016FY2023

Operating margin

2.4%

4.2% a year earlier

FY2016FY2023

Net income

-$34 million

FY2016FY2023

Diluted EPS

-$0.29

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	6,080	5,802	5,157	+4.8%
Cost of revenue	5,455	5,098	4,434	+7.0%
Gross profit	624	705	723	-11.4%
Gross margin	10.3%	12.1%	14.0%
Research and development	155	144	117	+7.9%
Selling, general and administrative	367	345	344	+6.3%
Operating income	147	244	241	-39.9%
Operating margin	2.4%	4.2%	4.7%
Interest expense	202	174	195	+15.6%
Pre-tax income	-24.5	66.3	1.2
Income tax	9.1	2.0	-4.7	+355.0%
Effective tax rate	n/a	3.0%	-391.7%
Net income	-33.6	64.3	5.9
Net margin	-0.6%	1.1%	0.1%
Diluted EPS	-$0.29	$0.53	$0.05

$ 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	FY2023	FY2022	FY2021	On the year
Operating cash flow	396	449	538	-11.8%
Capital expenditure	195	171	181	+13.5%
Free cash flow	202	278	357	-27.4%
Free cash flow margin	3.3%	4.8%	6.9%
Cash from investing	-184	-243	-161
Cash from financing	-206	-217	-401
Depreciation and amortisation	487	492	544	-1.0%
Share-based compensation	13.4	17.7	18.2	-24.3%
Buybacks	14.7	1.9	4.3	+673.7%
Diluted shares, weighted	117m	116m	114m	+1.0%
Shares outstanding at period end	117m	115m	114m	+2.2%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	605	627	458	-3.6%
Non-controlling interest	n/a	n/a	0.0
Debt	2,812	2,973	3,138	-5.4%
Operating lease liabilities	95.5	87.2	99.9	+9.5%
Other liabilities	1,844	1,782	1,940	+3.5%
Total liabilities and equity	5,356	5,469	5,636	-2.1%
Fixed assets	1,761	1,903	1,996	-7.5%
Goodwill	182	182	184	+0.3%
Intangible assets	533	616	697	-13.5%
Cash and equivalents	520	512	530	+1.6%
Receivables	818	820	763	-0.2%
Inventory	483	464	410	+4.1%
Other assets	1,059	973	1,055	+8.9%
Total assets	5,356	5,469	5,636	-2.1%

10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.