Duke Energy (DUK) FY2020 results: revenue $23.4 billion, down 6.8% on the year
Duke Energy Corp. (DUK) reported revenue of $23.4 billion for fiscal 2020, the year ended 31 December 2020, down 6.8% on the year before. Net income was $1.4 billion, down 63.3%, and diluted earnings per share $1.72. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$23.4 billion
-6.8% on the year
FY2013FY2020
Operating margin
19.6%
22.8% a year earlier
FY2013FY2020
Net income
$1.4 billion
-63.3% on the year
FY2013FY2020
Diluted EPS
$1.72
-66.0% 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
23,366
25,079
24,521
-6.8%
Cost of revenue
6,051
6,826
6,831
-11.4%
Gross profit
n/a
18,253
17,690
Gross margin
n/a
72.8%
72.1%
Operating income
4,571
5,709
4,685
-19.9%
Operating margin
19.6%
22.8%
19.1%
Interest expense
2,097
2,204
2,094
-4.9%
Pre-tax income
920
4,097
3,073
-77.5%
Income tax
-169
519
448
Effective tax rate
-18.4%
12.7%
14.6%
Net income
1,377
3,748
2,666
-63.3%
Net margin
5.9%
14.9%
10.9%
Diluted EPS
$1.72
$5.06
$3.76
-66.0%
$ 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
8,856
8,209
7,186
+7.9%
Capital expenditure
9,907
11,122
9,389
-10.9%
Free cash flow
-1,051
-2,913
-2,203
Free cash flow margin
-4.5%
-11.6%
-9.0%
Cash from investing
-10,604
-11,957
-10,060
Cash from financing
1,731
3,730
2,960
-53.6%
Depreciation and amortisation
5,486
5,176
4,696
+6.0%
Share-based compensation
84.0
89.0
78.0
-5.6%
Dividends paid
2,812
2,668
2,471
+5.4%
Dividend per share
$3.82
$3.75
$3.63
+1.9%
Diluted shares, weighted
738m
729m
708m
+1.2%
Shares outstanding at period end
769m
733m
727m
+4.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
47,964
46,822
43,817
+2.4%
Non-controlling interest
1,220
1,129
17.0
+8.1%
Short-term borrowings
2,873
3,135
3,410
-8.4%
Debt
59,863
58,126
54,529
+3.0%
Operating lease liabilities
1,340
1,432
n/a
-6.4%
Finance lease liabilities
716
850
n/a
-15.8%
Other liabilities
48,412
47,344
43,619
+2.3%
Total liabilities and equity
162,388
158,838
145,392
+2.2%
Fixed assets
106,782
102,127
91,694
+4.6%
Goodwill
19,303
19,303
19,303
0.0%
Intangible assets
295
249
246
+18.5%
Securities held for sale or to maturity
3,002
2,626
2,391
+14.3%
Cash and equivalents
259
311
442
-16.7%
Receivables
2,144
1,994
2,172
+7.5%
Other assets
30,603
32,228
29,144
-5.0%
Total assets
162,388
158,838
145,392
+2.2%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.