Dnow (DNOW) FY2019 results: revenue $3.0 billion, down 5.6% on the year
Dnow Inc. (DNOW) reported revenue of $3.0 billion for fiscal 2019, the year ended 31 December 2019, down 5.6% on the year before. Net income was -$97 million, and diluted earnings per share $-0.89. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$3.0 billion
-5.6% on the year
FY2012FY2019
Operating margin
-2.8%
2.3% a year earlier
FY2012FY2019
Net income
-$97 million
FY2012FY2019
Diluted EPS
-$0.89
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
2,951
3,127
2,648
-5.6%
Cost of revenue
2,365
2,497
2,147
-5.3%
Gross profit
586
630
501
-7.0%
Gross margin
19.9%
20.1%
18.9%
Operating income
-83.0
73.0
-41.0
Operating margin
-2.8%
2.3%
-1.5%
Pre-tax income
-93.0
58.0
-52.0
Income tax
4.0
6.0
n/a
-33.3%
Effective tax rate
n/a
10.3%
n/a
Net income
-97.0
52.0
-52.0
Net margin
-3.3%
1.7%
-2.0%
Diluted EPS
-$0.89
$0.47
-$0.48
$ 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
224
73.0
-115
+206.8%
Capital expenditure
12.0
11.0
4.0
+9.1%
Free cash flow
212
62.0
-119
+241.9%
Free cash flow margin
7.2%
2.0%
-4.5%
Cash from investing
-22.0
-9.0
8.0
Cash from financing
-138
-37.0
94.0
Depreciation and amortisation
41.0
41.0
50.0
0.0%
Share-based compensation
13.0
16.0
20.0
-18.8%
Diluted shares, weighted
109m
109m
108m
+0.1%
Shares outstanding at period end
109m
108m
108m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,144
1,214
1,185
-5.8%
Short-term borrowings
n/a
n/a
35.0
Debt
0.0
132
162
Operating lease liabilities
34.0
n/a
n/a
Finance lease liabilities
10.0
n/a
n/a
Other liabilities
403
449
367
-10.2%
Total liabilities and equity
1,591
1,795
1,749
-11.4%
Fixed assets
120
106
119
+13.2%
Goodwill
245
314
328
-22.0%
Intangible assets
90.0
144
166
-37.5%
Cash and equivalents
183
116
98.0
+57.8%
Receivables
370
482
423
-23.2%
Inventory
465
602
590
-22.8%
Other assets
118
31.0
25.0
+280.6%
Total assets
1,591
1,795
1,749
-11.4%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.