Fabrinet (FN) FY2020 results: revenue $1.6 billion, up 3.6% on the year
Fabrinet (FN) reported revenue of $1.6 billion for fiscal 2020, the year ended 26 June 2020, up 3.6% on the year before. Net income was $113 million, down 6.2%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 18 August 2020.
Revenue
$1.6 billion
+3.6% on the year
FY2013FY2020
Operating margin
7.2%
7.7% a year earlier
FY2013FY2020
Net income
$113 million
-6.2% on the year
FY2013FY2020
Diluted EPS
$3.01
-6.8% 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
1,642
1,584
1,372
+3.6%
Cost of revenue
1,456
1,405
1,219
+3.6%
Gross profit
186
179
153
+3.8%
Gross margin
11.3%
11.3%
11.2%
Selling, general and administrative
68.4
55.1
57.8
+24.2%
Operating income
117
123
93.8
-4.3%
Operating margin
7.2%
7.7%
6.8%
Interest expense
3.0
5.4
3.6
-43.4%
Pre-tax income
119
126
88.0
-5.5%
Income tax
5.8
5.3
3.9
+9.2%
Effective tax rate
4.8%
4.2%
4.4%
Net income
113
121
84.2
-6.2%
Net margin
6.9%
7.6%
6.1%
Diluted EPS
$3.01
$3.23
$2.21
-6.8%
$ 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
151
147
138
+2.2%
Capital expenditure
42.3
18.7
33.8
+126.8%
Free cash flow
108
129
104
-15.8%
Free cash flow margin
6.6%
8.1%
7.6%
Cash from investing
-71.2
-98.1
-58.6
Cash from financing
-35.3
-23.2
-54.1
Depreciation and amortisation
30.9
29.9
29.1
+3.1%
Share-based compensation
22.2
17.2
22.6
+29.4%
Buybacks
20.7
5.4
42.4
+285.3%
Diluted shares, weighted
38m
37m
38m
+0.7%
Shares outstanding at period end
37m
37m
36m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
974
863
741
+12.9%
Debt
51.7
60.9
64.2
-15.2%
Operating lease liabilities
5.9
n/a
n/a
Other liabilities
349
331
283
+5.5%
Total liabilities and equity
1,381
1,255
1,088
+10.0%
Fixed assets
228
211
220
+8.3%
Goodwill
n/a
3.7
3.8
Intangible assets
4.3
3.9
4.9
+10.9%
Investments
210
201
174
+4.4%
Cash and equivalents
225
181
158
+24.7%
Receivables
273
261
247
+4.6%
Inventory
310
294
258
+5.5%
Other assets
131
101
22.7
+29.7%
Total assets
1,381
1,255
1,088
+10.0%
10-K for the year ended 26 June 2020, filed 18 August 2020: the filing.