Greif (GEF) FY2019 results: revenue $4.6 billion, up 18.6% on the year
Greif, Inc. (GEF) reported revenue of $4.6 billion for fiscal 2019, the year ended 31 October 2019, up 18.6% on the year before. Net income was $171 million, down 18.3%, and diluted earnings per share $2.89. The figures are the company's own, from the 10-K it filed with the SEC on 18 December 2019.
Revenue
$4.6 billion
+18.6% on the year
FY2012FY2019
Operating margin
8.7%
9.6% a year earlier
FY2012FY2019
Net income
$171 million
-18.3% on the year
FY2012FY2019
Diluted EPS
$2.89
-18.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,595
3,874
3,638
+18.6%
Cost of revenue
3,635
3,085
2,924
+17.8%
Gross profit
960
789
715
+21.7%
Gross margin
20.9%
20.4%
19.6%
Selling, general and administrative
507
398
380
+27.5%
Operating income
399
370
300
+7.7%
Operating margin
8.7%
9.6%
8.2%
Interest expense
112
51.0
60.1
+120.6%
Pre-tax income
262
300
200
-12.6%
Income tax
70.7
73.3
67.2
-3.5%
Effective tax rate
27.0%
24.4%
33.5%
Net income
171
209
119
-18.3%
Net margin
3.7%
5.4%
3.3%
Diluted EPS
$2.89
$3.55
$2.02
-18.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
390
253
305
+54.0%
Capital expenditure
157
140
96.8
+11.8%
Free cash flow
233
113
208
+106.3%
Free cash flow margin
5.1%
2.9%
5.7%
Cash from investing
-1,989
-135
-90.4
Cash from financing
1,584
-158
-176
Depreciation and amortisation
206
127
120
+62.4%
Share-based compensation
12.7
6.5
2.9
+95.4%
Buybacks
n/a
0.0
0.0
Dividends paid
104
100
98.6
+4.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,133
1,108
1,011
+2.3%
Non-controlling interest
58.0
46.4
36.6
+25.0%
Redeemable equity
21.3
35.5
31.5
-40.0%
Short-term borrowings
9.2
7.3
n/a
+26.0%
Debt
2,756
908
967
+203.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,449
1,090
1,186
+32.9%
Total liabilities and equity
5,427
3,195
3,232
+69.9%
Fixed assets
1,690
1,192
1,188
+41.8%
Goodwill
1,518
776
785
+95.6%
Intangible assets
776
80.6
98.0
+863.4%
Cash and equivalents
77.3
94.2
142
-17.9%
Receivables
664
457
447
+45.4%
Other assets
701
595
571
+17.7%
Total assets
5,427
3,195
3,232
+69.9%
10-K for the year ended 31 October 2019, filed 18 December 2019: the filing.