Elanco Animal Health (ELAN) FY2020 results: revenue $3.3 billion, up 6.6% on the year
Elanco Animal Health Inc. (ELAN) reported revenue of $3.3 billion for fiscal 2020, the year ended 31 December 2020, up 6.6% on the year before. Net income was -$574 million, and diluted earnings per share $-1.30. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$3.3 billion
+6.6% on the year
FY2016FY2020
Operating margin
-20.5%
2.5% a year earlier
FY2016FY2020
Net income
-$574 million
FY2016FY2020
Diluted EPS
-$1.30
FY2016FY2020
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
3,273
3,071
3,067
+6.6%
Cost of revenue
1,667
1,470
1,574
+13.4%
Gross profit
1,607
1,601
1,493
+0.4%
Gross margin
49.1%
52.1%
48.7%
Research and development
329
270
247
+21.8%
Selling, general and administrative
997
760
735
+31.1%
Operating income
-672
78.2
114
Operating margin
-20.5%
2.5%
3.7%
Interest expense
150
78.9
29.6
+89.9%
Pre-tax income
-677
78.0
114
Income tax
-103
10.0
27.6
Effective tax rate
n/a
12.8%
24.2%
Net income
-574
67.9
86.5
Net margin
-17.5%
2.2%
2.8%
Diluted EPS
-$1.30
$0.18
$0.28
$ 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
-41.0
224
487
Capital expenditure
135
140
134
-3.6%
Free cash flow
-176
84.1
353
Free cash flow margin
-5.4%
2.7%
11.5%
Cash from investing
-4,779
-235
-127
Cash from financing
4,954
-305
-35.2
Depreciation and amortisation
517
314
296
+64.4%
Share-based compensation
47.0
49.0
26.0
-4.1%
Diluted shares, weighted
441m
370m
314m
+19.2%
Shares outstanding at period end
472m
373m
366m
+26.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,457
5,547
5,198
+52.5%
Debt
6,127
2,355
2,472
+160.2%
Operating lease liabilities
151
61.7
n/a
+144.7%
Other liabilities
2,958
1,022
1,287
+189.4%
Total liabilities and equity
17,693
8,986
8,957
+96.9%
Fixed assets
1,316
955
922
+37.8%
Goodwill
6,225
2,990
2,958
+108.2%
Intangible assets
6,387
2,483
2,505
+157.3%
Cash and equivalents
495
334
475
+48.1%
Receivables
872
817
652
+6.7%
Inventory
1,578
1,051
1,004
+50.2%
Other assets
820
356
441
+130.0%
Total assets
17,693
8,986
8,957
+96.9%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.