DXP Enterprises (DXPE) FY2020 results: revenue $1.0 billion, down 20.7% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, down 20.7% on the year before. Net income was -$29 million, and diluted earnings per share $-1.65. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2021.
Revenue
$1.0 billion
-20.7% on the year
FY2013FY2020
Operating margin
-2.8%
5.3% a year earlier
FY2013FY2020
Net income
-$29 million
FY2013FY2020
Diluted EPS
-$1.65
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
1,005
1,267
1,219
-20.7%
Cost of revenue
728
915
884
-20.4%
Gross profit
277
350
336
-20.8%
Gross margin
27.6%
27.6%
27.6%
Selling, general and administrative
245
282
264
-13.2%
Operating income
-27.7
67.4
72.1
Operating margin
-2.8%
5.3%
5.9%
Interest expense
20.6
19.5
20.9
+5.5%
Pre-tax income
-48.3
48.0
52.3
Income tax
-18.7
11.2
14.1
Effective tax rate
n/a
23.3%
27.0%
Net income
-29.3
37.0
38.3
Net margin
-2.9%
2.9%
3.1%
Diluted EPS
-$1.65
$2.01
$2.08
$ 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
110
41.3
35.8
+165.5%
Capital expenditure
6.7
22.1
9.3
-69.8%
Free cash flow
103
19.2
26.5
+436.7%
Free cash flow margin
10.2%
1.5%
2.2%
Cash from investing
-122
-22.1
-17.6
Cash from financing
77.4
-6.1
-2.9
Depreciation and amortisation
22.7
25.2
26.2
-9.9%
Share-based compensation
3.5
2.0
2.5
+79.9%
Buybacks
0.0
0.0
n/a
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
18m
18m
18m
-3.7%
Shares outstanding at period end
19m
18m
n/a
+9.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
360
354
307
+1.9%
Non-controlling interest
0.8
1.1
1.4
-30.4%
Debt
330
238
240
+38.7%
Operating lease liabilities
38.0
48.6
0.0
-21.8%
Other liabilities
139
147
155
-5.3%
Total liabilities and equity
868
788
704
+10.1%
Fixed assets
56.9
63.7
51.3
-10.7%
Goodwill
250
194
194
+28.7%
Intangible assets
80.1
52.6
67.2
+52.3%
Cash and equivalents
119
54.2
40.3
+120.2%
Receivables
167
189
196
-11.6%
Inventory
97.1
129
116
-25.0%
Other assets
98.1
106
39.5
-7.1%
Total assets
868
788
704
+10.1%
10-K for the year ended 31 December 2020, filed 18 March 2021: the filing.