Emerson Electric (EMR) FY2019 results: revenue $18.4 billion, up 5.5% on the year
Emerson Electric Co. (EMR) reported revenue of $18.4 billion for fiscal 2019, the year ended 30 September 2019, up 5.5% on the year before. Net income was $2.3 billion, up 4.7%, and diluted earnings per share $3.71. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2019.
Revenue
$18.4 billion
+5.5% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$2.3 billion
+4.7% on the year
FY2012FY2019
Diluted EPS
$3.71
+7.2% 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
18,372
17,408
15,264
+5.5%
Cost of revenue
10,557
9,976
8,833
+5.8%
Gross profit
7,815
7,432
6,404
+5.2%
Gross margin
42.5%
42.7%
42.0%
Research and development
454
436
340
+4.1%
Selling, general and administrative
4,457
4,269
3,607
+4.4%
Pre-tax income
2,859
2,667
2,335
+7.2%
Income tax
531
443
660
+19.9%
Effective tax rate
18.6%
16.6%
28.3%
Net income
2,306
2,203
1,518
+4.7%
Net margin
12.6%
12.7%
9.9%
Diluted EPS
$3.71
$3.46
$2.35
+7.2%
$ 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
3,006
2,892
1,912
+3.9%
Capital expenditure
594
617
476
-3.7%
Free cash flow
2,412
2,275
1,436
+6.0%
Free cash flow margin
13.1%
13.1%
9.4%
Cash from investing
-1,174
-2,720
1,514
Cash from financing
-1,391
-2,092
-3,591
Depreciation and amortisation
822
758
636
+8.4%
Share-based compensation
120
216
110
-44.4%
Buybacks
1,250
1,000
400
+25.0%
Dividends paid
1,209
1,229
1,239
-1.6%
Dividend per share
$1.96
$1.94
$1.92
+1.0%
Diluted shares, weighted
621m
635m
643m
-2.3%
Shares outstanding at period end
611m
629m
642m
-2.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,233
8,947
8,718
-8.0%
Non-controlling interest
40.0
43.0
52.0
-7.0%
Debt
5,721
4,760
4,656
+20.2%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
6,503
6,640
6,163
-2.1%
Total liabilities and equity
20,497
20,390
19,589
+0.5%
Fixed assets
3,642
3,562
3,321
+2.2%
Goodwill
6,536
6,455
5,316
+1.3%
Intangible assets
2,615
2,751
1,890
-4.9%
Cash and equivalents
1,494
1,093
3,062
+36.7%
Receivables
2,985
3,023
3,072
-1.3%
Inventory
1,880
1,813
1,696
+3.7%
Other assets
1,345
1,693
1,232
-20.6%
Total assets
20,497
20,390
19,589
+0.5%
10-K for the year ended 30 September 2019, filed 18 November 2019: the filing.