Generac Holdings (GNRC) FY2020 results: revenue $2.5 billion, up 12.7% on the year
Generac Holdings Inc. (GNRC) reported revenue of $2.5 billion for fiscal 2020, the year ended 31 December 2020, up 12.7% on the year before. Net income was $351 million, up 39.1%, and diluted earnings per share $5.48. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$2.5 billion
+12.7% on the year
FY2013FY2020
Operating margin
19.3%
16.9% a year earlier
FY2013FY2020
Net income
$351 million
+39.1% on the year
FY2013FY2020
Diluted EPS
$5.48
+36.0% 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
2,485
2,204
2,023
+12.7%
Cost of revenue
1,528
1,407
1,298
+8.6%
Gross profit
958
798
725
+20.0%
Gross margin
38.5%
36.2%
35.8%
Research and development
80.3
68.4
50.0
+17.3%
Operating income
479
372
357
+28.7%
Operating margin
19.3%
16.9%
17.7%
Interest expense
33.0
41.5
41.0
-20.6%
Pre-tax income
446
320
311
+39.6%
Income tax
99.0
67.3
69.9
+47.1%
Effective tax rate
22.2%
21.1%
22.5%
Net income
351
252
238
+39.1%
Net margin
14.1%
11.4%
11.8%
Diluted EPS
$5.48
$4.03
$3.54
+36.0%
$ 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
487
309
247
+57.5%
Capital expenditure
62.1
60.8
47.6
+2.2%
Free cash flow
424
248
200
+71.1%
Free cash flow margin
17.1%
11.3%
9.9%
Cash from investing
-124
-170
-109
Cash from financing
-30.4
-41.9
-52.0
Depreciation and amortisation
68.8
60.8
47.4
+13.2%
Share-based compensation
20.9
16.7
14.6
+25.1%
Buybacks
0.0
0.0
25.7
Dividends paid
0.0
0.3
0.3
Diluted shares, weighted
64m
63m
62m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,390
1,032
761
+34.7%
Non-controlling interest
-0.1
0.5
0.7
Redeemable equity
66.2
61.2
61.0
+8.1%
Debt
885
899
924
-1.5%
Finance lease liabilities
25.1
24.1
n/a
+3.8%
Other liabilities
869
649
680
+33.9%
Total liabilities and equity
3,235
2,666
2,426
+21.4%
Fixed assets
344
317
279
+8.5%
Goodwill
855
805
765
+6.2%
Intangible assets
292
298
246
-1.9%
Cash and equivalents
655
323
224
+102.9%
Receivables
375
320
326
+17.3%
Inventory
603
522
545
+15.6%
Other assets
111
81.2
40.9
+36.5%
Total assets
3,235
2,666
2,426
+21.4%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.