DXP Enterprises (DXPE) FY2019 results: revenue $1.3 billion, up 4.0% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $1.3 billion for fiscal 2019, the year ended 31 December 2019, up 4.0% on the year before. Net income was $37 million, down 3.4%, and diluted earnings per share $2.01. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2020.
Revenue
$1.3 billion
+4.0% on the year
FY2012FY2019
Operating margin
5.3%
5.9% a year earlier
FY2012FY2019
Net income
$37 million
-3.4% on the year
FY2012FY2019
Diluted EPS
$2.01
-3.4% 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
1,267
1,219
1,007
+4.0%
Cost of revenue
915
884
735
+3.5%
Gross profit
350
336
272
+4.2%
Gross margin
27.6%
27.6%
27.0%
Selling, general and administrative
282
264
238
+7.1%
Operating income
67.4
72.1
33.5
-6.5%
Operating margin
5.3%
5.9%
3.3%
Interest expense
19.5
20.9
17.1
-6.9%
Pre-tax income
48.0
52.3
16.9
-8.4%
Income tax
11.2
14.1
0.4
-20.6%
Effective tax rate
23.3%
27.0%
2.1%
Net income
37.0
38.3
16.9
-3.4%
Net margin
2.9%
3.1%
1.7%
Diluted EPS
$2.01
$2.08
$0.93
-3.4%
$ 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
41.3
35.8
12.5
+15.3%
Capital expenditure
22.1
9.3
2.8
+137.3%
Free cash flow
19.2
26.5
9.7
-27.6%
Free cash flow margin
1.5%
2.2%
1.0%
Cash from investing
-22.1
-17.6
-2.8
Cash from financing
-6.1
-2.9
14.2
Depreciation and amortisation
25.2
26.2
27.8
-3.8%
Share-based compensation
2.0
2.5
1.7
-23.0%
Buybacks
0.0
n/a
n/a
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
18m
18m
18m
+0.2%
Shares outstanding at period end
18m
n/a
17m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
354
307
268
+15.3%
Non-controlling interest
1.1
1.4
0.6
-18.5%
Debt
238
240
242
-1.0%
Operating lease liabilities
48.6
0.0
n/a
Other liabilities
147
155
129
-5.4%
Total liabilities and equity
788
704
639
+12.0%
Fixed assets
63.7
51.3
53.3
+24.1%
Goodwill
194
194
188
0.0%
Intangible assets
52.6
67.2
78.5
-21.8%
Cash and equivalents
54.2
40.3
22.0
+34.5%
Receivables
189
196
167
-3.6%
Inventory
129
116
91.4
+11.9%
Other assets
106
39.5
38.9
+167.5%
Total assets
788
704
639
+12.0%
10-K for the year ended 31 December 2019, filed 13 March 2020: the filing.