General Electric (GE) FY2020 results: revenue $58.0 billion, down 35.7% on the year
General Electric Co. (GE) reported revenue of $58.0 billion for fiscal 2020, the year ended 31 December 2020, down 35.7% on the year before. Net income was $5.7 billion, and diluted earnings per share $4.64. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$58.0 billion
-35.7% on the year
FY2013FY2020
Operating margin
-13.0%
-2.8% a year earlier
FY2013FY2020
Net income
$5.7 billion
FY2013FY2020
Diluted EPS
$4.64
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
58,025
90,221
97,012
-35.7%
Cost of revenue
60,421
66,911
72,818
-9.7%
Gross profit
n/a
n/a
24,194
Gross margin
n/a
n/a
24.9%
Research and development
1,720
3,118
3,415
-44.8%
Selling, general and administrative
9,248
13,806
14,643
-33.0%
Operating income
-7,543
-2,533
-23,308
Operating margin
-13.0%
-2.8%
-24.0%
Pre-tax income
-8,492
-54.0
-20,987
Income tax
-2,168
552
93.0
Net income
5,704
-4,979
-22,355
Net margin
9.8%
-5.5%
-23.0%
Diluted EPS
$4.64
-$4.96
-$20.96
$ 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
3,411
8,734
4,978
-60.9%
Capital expenditure
1,323
2,216
6,627
-40.3%
Free cash flow
2,088
6,518
-1,649
-68.0%
Free cash flow margin
3.6%
7.2%
-1.7%
Cash from investing
17,062
8,977
18,280
+90.1%
Cash from financing
-20,086
-16,133
-31,806
Depreciation and amortisation
1,895
2,018
8,223
-6.1%
Share-based compensation
353
400
336
-11.8%
Dividends paid
648
649
4,474
-0.2%
Dividend per share
$0.32
$0.32
$2.96
0.0%
Diluted shares, weighted
1,095m
1,090m
1,086m
+0.4%
Shares outstanding at period end
1,096m
1,092m
1,088m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
35,552
28,316
30,981
+25.6%
Non-controlling interest
1,522
1,545
20,500
-1.5%
Redeemable equity
487
439
378
+10.9%
Debt
74,902
90,882
103,599
-17.6%
Operating lease liabilities
3,195
3,162
n/a
+1.0%
Other liabilities
140,553
140,833
155,614
-0.2%
Total liabilities and equity
256,211
265,177
311,072
-3.4%
Fixed assets
44,662
45,879
43,611
-2.7%
Goodwill
13,669
25,895
33,974
-47.2%
Intangible assets
9,671
10,653
12,178
-9.2%
Investments
42,549
n/a
n/a
Cash and equivalents
36,530
35,811
31,124
+2.0%
Receivables
16,691
16,568
14,645
+0.7%
Inventory
15,890
17,215
13,803
-7.7%
Other assets
76,549
113,156
161,737
-32.4%
Total assets
256,211
265,177
311,072
-3.4%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.