Fortune Brands Innovations (FBIN) FY2020 results: revenue $3.6 billion, down 37.2% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $3.6 billion for fiscal 2020, the year ended 31 December 2020, down 37.2% on the year before. Net income was $553 million, up 28.1%, and diluted earnings per share $3.94. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$3.6 billion
-37.2% on the year
FY2013FY2020
Operating margin
15.7%
12.1% a year earlier
FY2013FY2020
Net income
$553 million
+28.1% on the year
FY2013FY2020
Diluted EPS
$3.94
+28.8% 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
3,621
5,765
5,485
-37.2%
Cost of revenue
2,157
3,712
3,526
-41.9%
Gross profit
1,464
2,052
1,959
-28.7%
Gross margin
40.4%
35.6%
35.7%
Research and development
n/a
48.2
50.3
Selling, general and administrative
849
1,256
1,241
-32.5%
Operating income
568
698
595
-18.7%
Operating margin
15.7%
12.1%
10.9%
Interest expense
83.9
94.2
74.5
-10.9%
Pre-tax income
499
575
537
-13.2%
Income tax
111
144
147
-23.1%
Effective tax rate
22.2%
25.0%
27.4%
Net income
553
432
390
+28.1%
Net margin
15.3%
7.5%
7.1%
Diluted EPS
$3.94
$3.06
$2.66
+28.8%
$ 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
826
637
604
+29.6%
Capital expenditure
150
132
150
+14.2%
Free cash flow
675
505
454
+33.6%
Free cash flow margin
18.6%
8.8%
8.3%
Cash from investing
-924
-128
-634
Cash from financing
112
-390
-6.8
Depreciation and amortisation
146
153
150
-4.6%
Share-based compensation
47.6
30.5
36.1
+56.1%
Buybacks
188
100
695
+87.6%
Dividends paid
133
123
115
+8.4%
Dividend per share
$0.98
$0.90
$0.82
+8.9%
Diluted shares, weighted
140m
141m
146m
-0.8%
Shares outstanding at period end
139m
140m
140m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,776
2,427
2,178
+14.4%
Non-controlling interest
n/a
1.2
1.8
Short-term borrowings
n/a
400
525
Debt
2,572
2,184
2,334
+17.8%
Operating lease liabilities
140
140
n/a
+0.5%
Other liabilities
1,870
1,140
926
+64.1%
Total liabilities and equity
7,359
6,291
5,965
+17.0%
Fixed assets
917
824
813
+11.3%
Goodwill
1,469
2,090
2,080
-29.7%
Intangible assets
1,420
1,169
1,247
+21.5%
Cash and equivalents
419
388
263
+8.0%
Receivables
735
625
572
+17.6%
Inventory
867
719
679
+20.7%
Other assets
1,531
477
311
+221.2%
Total assets
7,359
6,291
5,965
+17.0%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.