Fortune Brands Innovations (FBIN) FY2019 results: revenue $5.8 billion, up 5.1% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $5.8 billion for fiscal 2019, the year ended 31 December 2019, up 5.1% on the year before. Net income was $432 million, up 10.9%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$5.8 billion
+5.1% on the year
FY2012FY2019
Operating margin
12.1%
10.9% a year earlier
FY2012FY2019
Net income
$432 million
+10.9% on the year
FY2012FY2019
Diluted EPS
$3.06
+15.0% 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
5,765
5,485
5,283
+5.1%
Cost of revenue
3,712
3,526
3,358
+5.3%
Gross profit
2,052
1,959
1,925
+4.7%
Gross margin
35.6%
35.7%
36.4%
Research and development
48.2
50.3
50.7
-4.2%
Selling, general and administrative
1,256
1,241
1,195
+1.2%
Operating income
698
595
682
+17.4%
Operating margin
12.1%
10.9%
12.9%
Interest expense
94.2
74.5
49.4
+26.4%
Pre-tax income
575
537
635
+7.1%
Income tax
144
147
160
-2.0%
Effective tax rate
25.0%
27.4%
25.1%
Net income
432
390
473
+10.9%
Net margin
7.5%
7.1%
8.9%
Diluted EPS
$3.06
$2.66
$3.03
+15.0%
$ 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
637
604
600
+5.5%
Capital expenditure
132
150
165
-12.2%
Free cash flow
505
454
435
+11.3%
Free cash flow margin
8.8%
8.3%
8.2%
Cash from investing
-128
-634
-288
Cash from financing
-390
-6.8
-250
Depreciation and amortisation
153
150
130
+2.1%
Share-based compensation
30.5
36.1
43.0
-15.5%
Buybacks
100
695
215
-85.6%
Dividends paid
123
115
110
+6.8%
Dividend per share
$0.90
$0.82
$0.74
+9.8%
Diluted shares, weighted
141m
146m
156m
-3.5%
Shares outstanding at period end
140m
140m
152m
-0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,427
2,178
2,600
+11.4%
Non-controlling interest
1.2
1.8
1.6
-33.3%
Short-term borrowings
400
525
n/a
-23.9%
Debt
2,184
2,334
1,508
-6.4%
Operating lease liabilities
140
n/a
n/a
Other liabilities
1,140
926
1,403
+23.1%
Total liabilities and equity
6,291
5,965
5,511
+5.5%
Fixed assets
824
813
740
+1.3%
Goodwill
2,090
2,080
1,912
+0.5%
Intangible assets
1,169
1,247
1,162
-6.2%
Cash and equivalents
388
263
323
+47.5%
Receivables
625
572
555
+9.3%
Inventory
719
679
581
+5.8%
Other assets
477
311
238
+53.5%
Total assets
6,291
5,965
5,511
+5.5%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.