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EnerSys (ENS) FY2024 results: revenue $3.6 billion, down 3.4% on the year

EnerSys (ENS) reported revenue of $3.6 billion for fiscal 2024, the year ended 31 March 2024, down 3.4% on the year before. Net income was $269 million, up 53.1%, and diluted earnings per share $6.50. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2024.

Revenue
$3.6 billion
-3.4% on the year
FY2017FY2024
Operating margin
9.8%
7.5% a year earlier
FY2017FY2024
Net income
$269 million
+53.1% on the year
FY2017FY2024
Diluted EPS
$6.50
+52.9% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue3,5823,7093,357-3.4%
Cost of revenue2,5792,8682,605-10.1%
Gross profit983840750+17.0%
Gross margin27.4%22.7%22.3%
Operating income352278206+26.3%
Operating margin9.8%7.5%6.1%
Interest expense50.059.537.8-16.1%
Pre-tax income292211174+38.7%
Income tax23.134.830.0-33.7%
Effective tax rate7.9%16.5%17.3%
Net income269176144+53.1%
Net margin7.5%4.7%4.3%
Diluted EPS$6.50$4.25$3.36+52.9%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow457280-65.6+63.3%
Capital expenditure86.488.874.0-2.6%
Free cash flow371191-140+93.9%
Free cash flow margin10.3%5.2%-4.2%
Cash from investing-92.5-44.8-69.2
Cash from financing-371-27098.4
Depreciation and amortisation92.091.295.9+1.0%
Share-based compensation30.626.424.3+16.1%
Buybacks95.722.9156+317.7%
Dividends paid34.528.529.4+20.8%
Dividend per share$0.85$0.70$0.70+21.4%
Diluted shares, weighted41m41m43m+0.1%
Shares outstanding at period end40m41m41m-1.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity1,7541,6001,489+9.6%
Non-controlling interest3.43.63.9-4.9%
Debt8321,0731,298-22.4%
Operating lease liabilities61.766.652.9-7.3%
Finance lease liabilities0.60.30.2+154.7%
Other liabilities814873892-6.8%
Total liabilities and equity3,4663,6173,737-4.2%
Fixed assets532513503+3.7%
Goodwill683677701+0.9%
Intangible assets319360396-11.4%
Cash and equivalents333347402-3.8%
Receivables525638719-17.7%
Inventory698798716-12.5%
Other assets375284299+32.2%
Total assets3,4663,6173,737-4.2%

10-K for the year ended 31 March 2024, filed 22 May 2024: the filing.