EchoStar (ECHO) FY2020 results: revenue $1.9 billion, up 0.1% on the year
EchoStar Corp. (ECHO) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 December 2020, up 0.1% on the year before. Net income was -$40 million, and diluted earnings per share $-0.41. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$1.9 billion
+0.1% on the year
FY2013FY2020
Operating margin
6.0%
3.9% a year earlier
FY2013FY2020
Net income
-$40 million
FY2013FY2020
Diluted EPS
-$0.41
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
1,888
1,886
1,763
+0.1%
Research and development
29.4
25.7
27.6
+14.4%
Selling, general and administrative
475
509
436
-6.7%
Operating income
112
73.1
36.1
+53.9%
Operating margin
6.0%
3.9%
2.1%
Interest expense
148
251
219
-41.1%
Pre-tax income
-27.8
-93.2
-126
Income tax
24.1
20.5
6.6
+17.5%
Net income
-40.1
-62.9
-40.5
Net margin
-2.1%
-3.3%
-2.3%
Diluted EPS
-$0.41
-$0.65
-$0.42
$ 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
534
656
735
-18.6%
Capital expenditure
409
419
555
-2.3%
Free cash flow
126
238
179
-47.2%
Free cash flow margin
6.7%
12.6%
10.2%
Cash from investing
-1,142
822
-2,098
Cash from financing
-15.6
-885
-137
Depreciation and amortisation
238
491
457
-51.5%
Share-based compensation
8.9
9.4
10.0
-5.0%
Buybacks
43.5
0.0
33.3
Diluted shares, weighted
98m
97m
96m
+1.2%
Shares outstanding at period end
n/a
48m
n/a
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,542
3,670
4,140
-3.5%
Non-controlling interest
64.9
75.7
15.3
-14.3%
Debt
2,393
2,389
3,304
+0.2%
Operating lease liabilities
115
96.9
0.0
+18.5%
Finance lease liabilities
0.1
0.6
n/a
-77.2%
Other liabilities
958
922
1,202
+3.9%
Total liabilities and equity
7,073
7,154
8,661
-1.1%
Fixed assets
449
2,529
2,535
-82.2%
Goodwill
512
507
504
+0.9%
Intangible assets
479
479
430
+0.0%
Investments
1,638
941
2,282
+74.2%
Cash and equivalents
896
1,519
928
-41.0%
Receivables
184
197
201
-6.4%
Inventory
98.0
79.6
75.4
+23.1%
Other assets
2,817
904
1,705
+211.8%
Total assets
7,073
7,154
8,661
-1.1%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.