Fortune Brands Innovations (FBIN) FY2023 results: revenue $4.6 billion, down 2.0% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $4.6 billion for fiscal 2023, the year ended 30 December 2023, down 2.0% on the year before. Net income was $404 million, down 41.1%, and diluted earnings per share $3.17. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$4.6 billion
-2.0% on the year
FY2016FY2023
Operating margin
13.3%
16.4% a year earlier
FY2016FY2023
Net income
$404 million
-41.1% on the year
FY2016FY2023
Diluted EPS
$3.17
-39.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,056
566
689
+86.4%
Capital expenditure
256
246
214
+4.2%
Free cash flow
799
320
474
+149.6%
Free cash flow margin
17.3%
6.8%
9.9%
Cash from investing
-1,038
-456
-207
Cash from financing
-271
72.5
-429
Depreciation and amortisation
169
175
171
-3.4%
Share-based compensation
34.2
50.2
50.2
-31.9%
Buybacks
150
580
448
-74.1%
Dividends paid
117
146
143
-19.8%
Dividend per share
$0.93
$1.07
$1.06
-13.1%
Diluted shares, weighted
128m
131m
140m
-2.7%
Shares outstanding at period end
126m
128m
135m
-1.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,293
2,087
3,065
+9.9%
Short-term borrowings
0.0
599
400
Debt
2,670
2,674
2,710
-0.1%
Operating lease liabilities
143
95.4
109
+50.2%
Other liabilities
1,458
666
n/a
+119.0%
Total liabilities and equity
6,565
6,121
5,446
+7.3%
Fixed assets
975
784
671
+24.4%
Goodwill
1,907
1,641
1,539
+16.2%
Intangible assets
1,355
1,001
968
+35.4%
Cash and equivalents
366
642
426
-43.0%
Receivables
534
522
580
+2.4%
Inventory
982
1,021
890
-3.8%
Other assets
446
510
373
-12.6%
Total assets
6,565
6,121
5,446
+7.3%
10-K for the year ended 30 December 2023, filed 27 February 2024: the filing.