Duke Energy (DUK) FY2019 results: revenue $25.1 billion, up 2.3% on the year
Duke Energy Corp. (DUK) reported revenue of $25.1 billion for fiscal 2019, the year ended 31 December 2019, up 2.3% on the year before. Net income was $3.7 billion, up 40.6%, and diluted earnings per share $5.06. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$25.1 billion
+2.3% on the year
FY2012FY2019
Operating margin
22.8%
19.1% a year earlier
FY2012FY2019
Net income
$3.7 billion
+40.6% on the year
FY2012FY2019
Diluted EPS
$5.06
+34.6% 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
25,079
24,521
23,565
+2.3%
Cost of revenue
6,826
6,831
6,350
-0.1%
Gross profit
18,253
17,690
17,215
+3.2%
Gross margin
72.8%
72.1%
73.1%
Operating income
5,709
4,685
5,625
+21.9%
Operating margin
22.8%
19.1%
23.9%
Interest expense
2,204
2,094
1,986
+5.3%
Pre-tax income
4,097
3,073
4,266
+33.3%
Income tax
519
448
1,196
+15.8%
Effective tax rate
12.7%
14.6%
28.0%
Net income
3,748
2,666
3,059
+40.6%
Net margin
14.9%
10.9%
13.0%
Diluted EPS
$5.06
$3.76
$4.36
+34.6%
$ 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
8,209
7,186
6,634
+14.2%
Capital expenditure
11,122
9,389
8,052
+18.5%
Free cash flow
-2,913
-2,203
-1,418
Free cash flow margin
-11.6%
-9.0%
-6.0%
Cash from investing
-11,957
-10,060
-8,450
Cash from financing
3,730
2,960
1,782
+26.0%
Depreciation and amortisation
5,176
4,696
4,046
+10.2%
Share-based compensation
89.0
78.0
68.0
+14.1%
Dividends paid
2,668
2,471
2,450
+8.0%
Dividend per share
$3.75
$3.63
$3.49
+3.2%
Diluted shares, weighted
729m
708m
700m
+3.0%
Shares outstanding at period end
733m
727m
700m
+0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
46,822
43,817
41,739
+6.9%
Non-controlling interest
1,129
17.0
-2.0
+6,541.2%
Short-term borrowings
3,135
3,410
2,163
-8.1%
Debt
58,126
54,529
52,279
+6.6%
Operating lease liabilities
1,432
n/a
n/a
Finance lease liabilities
850
n/a
n/a
Other liabilities
47,344
43,619
41,735
+8.5%
Total liabilities and equity
158,838
145,392
137,914
+9.2%
Fixed assets
102,127
91,694
86,391
+11.4%
Goodwill
19,303
19,303
19,396
0.0%
Intangible assets
249
246
230
+1.2%
Securities held for sale or to maturity
2,626
2,391
2,284
+9.8%
Cash and equivalents
311
442
358
-29.6%
Receivables
1,994
2,172
1,995
-8.2%
Other assets
32,228
29,144
27,260
+10.6%
Total assets
158,838
145,392
137,914
+9.2%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.