Diodes (DIOD) FY2019 results: revenue $1.2 billion, up 2.9% on the year
Diodes Inc. (DIOD) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, up 2.9% on the year before. Net income was $153 million, up 47.3%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2020.
Revenue
$1.2 billion
+2.9% on the year
FY2012FY2019
Operating margin
16.1%
12.7% a year earlier
FY2012FY2019
Net income
$153 million
+47.3% on the year
FY2012FY2019
Diluted EPS
$2.96
+45.1% 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
1,249
1,214
1,054
+2.9%
Cost of revenue
783
779
697
+0.6%
Gross profit
466
435
357
+7.0%
Gross margin
37.3%
35.9%
33.8%
Research and development
88.5
86.3
77.9
+2.6%
Selling, general and administrative
181
176
169
+2.9%
Operating income
201
154
79.4
+29.9%
Operating margin
16.1%
12.7%
7.5%
Interest expense
7.9
9.9
13.4
-20.3%
Pre-tax income
198
150
62.6
+32.2%
Income tax
44.1
44.6
62.3
-1.0%
Effective tax rate
22.3%
29.7%
99.6%
Net income
153
104
-1.8
+47.3%
Net margin
12.3%
8.6%
-0.2%
Diluted EPS
$2.96
$2.04
-$0.04
+45.1%
$ 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
230
186
181
+23.8%
Capital expenditure
98.5
87.5
111
+12.6%
Free cash flow
131
98.1
70.0
+33.9%
Free cash flow margin
10.5%
8.1%
6.6%
Cash from investing
-100
-88.9
-78.9
Cash from financing
-112
-51.9
-158
Depreciation and amortisation
110
105
95.7
+4.7%
Share-based compensation
20.5
20.7
18.6
-1.0%
Buybacks
n/a
n/a
8.7
Diluted shares, weighted
52m
51m
49m
+1.8%
Shares outstanding at period end
51m
50m
49m
+2.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,106
931
832
+18.8%
Non-controlling interest
46.4
46.0
42.4
+0.8%
Debt
111
224
270
-50.5%
Operating lease liabilities
27.5
n/a
n/a
Finance lease liabilities
0.1
n/a
n/a
Other liabilities
348
325
345
+7.1%
Total liabilities and equity
1,639
1,526
1,489
+7.4%
Fixed assets
470
447
459
+5.1%
Goodwill
141
132
134
+6.7%
Intangible assets
120
138
156
-13.3%
Investments
4.8
7.5
4.6
-35.7%
Cash and equivalents
258
241
204
+7.2%
Receivables
260
228
200
+14.0%
Inventory
236
215
217
+9.8%
Other assets
149
117
114
+27.6%
Total assets
1,639
1,526
1,489
+7.4%
10-K for the year ended 31 December 2019, filed 12 February 2020: the filing.