Diodes (DIOD) FY2020 results: revenue $1.2 billion, down 1.6% on the year
Diodes Inc. (DIOD) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, down 1.6% on the year before. Net income was $98 million, down 36.0%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$1.2 billion
-1.6% on the year
FY2013FY2020
Operating margin
10.9%
16.1% a year earlier
FY2013FY2020
Net income
$98 million
-36.0% on the year
FY2013FY2020
Diluted EPS
$1.88
-36.5% 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
1,229
1,249
1,214
-1.6%
Cost of revenue
798
783
779
+1.9%
Gross profit
431
466
435
-7.4%
Gross margin
35.1%
37.3%
35.9%
Research and development
94.3
88.5
86.3
+6.5%
Selling, general and administrative
185
181
176
+2.1%
Operating income
134
201
154
-33.0%
Operating margin
10.9%
16.1%
12.7%
Interest expense
11.7
7.9
9.9
+47.8%
Pre-tax income
120
198
150
-39.3%
Income tax
21.1
44.1
44.6
-52.2%
Effective tax rate
17.5%
22.3%
29.7%
Net income
98.1
153
104
-36.0%
Net margin
8.0%
12.3%
8.6%
Diluted EPS
$1.88
$2.96
$2.04
-36.5%
$ 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
187
230
186
-18.5%
Capital expenditure
75.8
98.5
87.5
-23.0%
Free cash flow
111
131
98.1
-15.1%
Free cash flow margin
9.1%
10.5%
8.1%
Cash from investing
-107
-100
-88.9
Cash from financing
-54.3
-112
-51.9
Depreciation and amortisation
108
110
105
-1.4%
Share-based compensation
25.3
20.5
20.7
+23.0%
Buybacks
297
n/a
n/a
Diluted shares, weighted
52m
52m
51m
+0.5%
Shares outstanding at period end
44m
51m
50m
-13.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
964
1,106
931
-12.9%
Non-controlling interest
52.3
46.4
46.0
+12.8%
Debt
451
111
224
+306.5%
Operating lease liabilities
27.0
27.5
n/a
-1.8%
Finance lease liabilities
0.0
0.1
n/a
-82.6%
Other liabilities
486
348
325
+39.5%
Total liabilities and equity
1,979
1,639
1,526
+20.7%
Fixed assets
531
470
447
+13.0%
Goodwill
158
141
132
+12.0%
Intangible assets
111
120
138
-7.5%
Investments
24.4
4.8
7.5
+406.5%
Cash and equivalents
268
258
241
+3.7%
Receivables
320
260
228
+22.9%
Inventory
307
236
215
+29.9%
Other assets
260
149
117
+74.6%
Total assets
1,979
1,639
1,526
+20.7%
10-K for the year ended 31 December 2020, filed 22 February 2021: the filing.