Firstenergy (FE) FY2020 results: revenue $10.8 billion, down 2.2% on the year
Firstenergy Corp. (FE) reported revenue of $10.8 billion for fiscal 2020, the year ended 31 December 2020, down 2.2% on the year before. Net income was $1.1 billion, up 18.3%, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$10.8 billion
-2.2% on the year
FY2013FY2020
Operating margin
20.0%
22.7% a year earlier
FY2013FY2020
Net income
$1.1 billion
+18.3% on the year
FY2013FY2020
Diluted EPS
$1.99
+18.5% 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
10,790
11,035
11,261
-2.2%
Operating income
2,162
2,510
2,502
-13.9%
Operating margin
20.0%
22.7%
22.2%
Interest expense
1,065
1,033
1,116
+3.1%
Pre-tax income
1,129
1,117
1,512
+1.1%
Income tax
126
213
490
-40.8%
Effective tax rate
11.2%
19.1%
32.4%
Net income
1,079
912
1,348
+18.3%
Net margin
10.0%
8.3%
12.0%
Diluted EPS
$1.99
$1.68
$1.99
+18.5%
$ 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
1,423
2,467
1,410
-42.3%
Capital expenditure
2,657
2,665
2,675
-0.3%
Free cash flow
-1,234
-198
-1,265
Free cash flow margin
-11.4%
-1.8%
-11.2%
Cash from investing
-2,908
-2,873
-3,018
Cash from financing
2,607
656
1,394
+297.4%
Depreciation and amortisation
1,199
1,217
1,384
-1.5%
Share-based compensation
0.0
0.0
0.0
Dividends paid
845
814
711
+3.8%
Dividend per share
$1.56
$1.53
$1.82
+2.0%
Diluted shares, weighted
543m
542m
494m
+0.2%
Shares outstanding at period end
543m
541m
512m
+0.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
7,237
6,975
6,814
+3.8%
Debt
24,477
20,998
19,504
+16.6%
Operating lease liabilities
263
241
n/a
+9.1%
Finance lease liabilities
31.0
45.0
n/a
-31.1%
Other liabilities
12,456
14,042
13,745
-11.3%
Total liabilities and equity
44,464
42,301
40,063
+5.1%
Fixed assets
33,294
31,650
29,911
+5.2%
Goodwill
5,618
5,618
5,618
0.0%
Intangible assets
73.0
80.0
93.0
-8.8%
Investments
605
1,451
1,299
-58.3%
Cash and equivalents
1,734
627
367
+176.6%
Receivables
1,203
1,091
1,221
+10.3%
Inventory
317
281
252
+12.8%
Other assets
1,620
1,503
1,302
+7.8%
Total assets
44,464
42,301
40,063
+5.1%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.