EchoStar (ECHO) FY2019 results: revenue $1.9 billion, up 7.0% on the year
EchoStar Corp. (ECHO) reported revenue of $1.9 billion for fiscal 2019, the year ended 31 December 2019, up 7.0% on the year before. Net income was -$63 million, and diluted earnings per share $-0.65. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$1.9 billion
+7.0% on the year
FY2012FY2019
Operating margin
3.9%
2.1% a year earlier
FY2012FY2019
Net income
-$63 million
FY2012FY2019
Diluted EPS
-$0.65
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
1,886
1,763
1,525
+7.0%
Cost of revenue
n/a
n/a
758
Research and development
25.7
27.6
31.7
-6.6%
Selling, general and administrative
509
436
370
+16.7%
Operating income
73.1
36.1
30.6
+102.2%
Operating margin
3.9%
2.1%
2.0%
Interest expense
251
219
184
+14.5%
Pre-tax income
-93.2
-126
-32.2
Income tax
20.5
6.6
-155
+211.6%
Net income
-62.9
-40.5
393
Net margin
-3.3%
-2.3%
25.7%
Diluted EPS
-$0.65
-$0.42
$4.07
$ 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
656
735
727
-10.6%
Capital expenditure
419
555
583
-24.6%
Free cash flow
238
179
144
+32.5%
Free cash flow margin
12.6%
10.2%
9.4%
Cash from investing
822
-2,098
-868
Cash from financing
-885
-137
0.1
Depreciation and amortisation
491
457
386
+7.4%
Share-based compensation
9.4
10.0
10.1
-6.4%
Buybacks
0.0
33.3
0.0
Diluted shares, weighted
97m
96m
97m
+0.5%
Shares outstanding at period end
48m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,670
4,140
4,163
-11.4%
Non-controlling interest
75.7
15.3
14.8
+395.9%
Debt
2,389
3,304
3,365
-27.7%
Operating lease liabilities
96.9
0.0
n/a
Finance lease liabilities
0.6
n/a
n/a
Other liabilities
922
1,202
1,207
-23.3%
Total liabilities and equity
7,154
8,661
8,750
-17.4%
Fixed assets
2,529
2,535
3,465
-0.2%
Goodwill
507
504
504
+0.6%
Intangible assets
479
430
471
+11.3%
Investments
941
2,282
814
-58.8%
Cash and equivalents
1,519
928
2,431
+63.7%
Receivables
197
201
197
-2.2%
Inventory
79.6
75.4
83.6
+5.6%
Other assets
904
1,705
783
-47.0%
Total assets
7,154
8,661
8,750
-17.4%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.