Emerson Electric (EMR) FY2020 results: revenue $16.8 billion, down 8.6% on the year
Emerson Electric Co. (EMR) reported revenue of $16.8 billion for fiscal 2020, the year ended 30 September 2020, down 8.6% on the year before. Net income was $2.0 billion, down 14.8%, and diluted earnings per share $3.24. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2020.
Revenue
$16.8 billion
-8.6% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$2.0 billion
-14.8% on the year
FY2013FY2020
Diluted EPS
$3.24
-12.7% on the year
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
16,785
18,372
17,408
-8.6%
Cost of revenue
9,776
10,557
9,976
-7.4%
Gross profit
7,009
7,815
7,432
-10.3%
Gross margin
41.8%
42.5%
42.7%
Research and development
439
454
436
-3.3%
Selling, general and administrative
3,986
4,457
4,269
-10.6%
Pre-tax income
2,335
2,859
2,667
-18.3%
Income tax
345
531
443
-35.0%
Effective tax rate
14.8%
18.6%
16.6%
Net income
1,965
2,306
2,203
-14.8%
Net margin
11.7%
12.6%
12.7%
Diluted EPS
$3.24
$3.71
$3.46
-12.7%
$ 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
3,083
3,006
2,892
+2.6%
Capital expenditure
538
594
617
-9.4%
Free cash flow
2,545
2,412
2,275
+5.5%
Free cash flow margin
15.2%
13.1%
13.1%
Cash from investing
-740
-1,174
-2,720
Cash from financing
-509
-1,391
-2,092
Depreciation and amortisation
854
822
758
+3.9%
Share-based compensation
110
120
216
-8.3%
Buybacks
942
1,250
1,000
-24.6%
Dividends paid
1,209
1,209
1,229
0.0%
Dividend per share
$2.00
$1.96
$1.94
+2.0%
Diluted shares, weighted
607m
621m
635m
-2.3%
Shares outstanding at period end
598m
611m
629m
-2.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,405
8,233
8,947
+2.1%
Non-controlling interest
42.0
40.0
43.0
+5.0%
Debt
7,486
5,721
4,760
+30.9%
Operating lease liabilities
373
0.0
n/a
Other liabilities
6,576
6,503
6,640
+1.1%
Total liabilities and equity
22,882
20,497
20,390
+11.6%
Fixed assets
3,688
3,642
3,562
+1.3%
Goodwill
6,734
6,536
6,455
+3.0%
Intangible assets
2,468
2,615
2,751
-5.6%
Cash and equivalents
3,315
1,494
1,093
+121.9%
Receivables
2,802
2,985
3,023
-6.1%
Inventory
1,928
1,880
1,813
+2.6%
Other assets
1,947
1,345
1,693
+44.8%
Total assets
22,882
20,497
20,390
+11.6%
10-K for the year ended 30 September 2020, filed 16 November 2020: the filing.