Goodyear Tire & Rubber (GT) FY2019 results: revenue $14.7 billion, down 4.7% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $14.7 billion for fiscal 2019, the year ended 31 December 2019, down 4.7% on the year before. Net income was -$311 million, and diluted earnings per share $-1.33. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2020.
Revenue
$14.7 billion
-4.7% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
-$311 million
FY2012FY2019
Diluted EPS
-$1.33
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
14,745
15,475
15,377
-4.7%
Cost of revenue
11,602
11,961
11,680
-3.0%
Gross profit
3,143
3,514
3,697
-10.6%
Gross margin
21.3%
22.7%
24.0%
Research and development
430
424
406
+1.4%
Selling, general and administrative
2,323
2,312
2,279
+0.5%
Interest expense
340
321
335
+5.9%
Pre-tax income
177
1,011
878
-82.5%
Income tax
474
303
513
+56.4%
Effective tax rate
267.8%
30.0%
58.4%
Net income
-311
693
346
Net margin
-2.1%
4.5%
2.3%
Diluted EPS
-$1.33
$2.89
$1.37
$ 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
1,207
916
1,158
+31.8%
Capital expenditure
770
811
881
-5.1%
Free cash flow
437
105
277
+316.2%
Free cash flow margin
3.0%
0.7%
1.8%
Cash from investing
-800
-867
-879
Cash from financing
-307
-243
-415
Depreciation and amortisation
795
778
781
+2.2%
Share-based compensation
27.0
16.0
22.0
+68.8%
Buybacks
0.0
220
400
Dividends paid
148
138
110
+7.2%
Dividend per share
$0.64
$0.58
$0.44
+10.3%
Diluted shares, weighted
233m
239m
253m
-2.5%
Shares outstanding at period end
233m
232m
240m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,351
4,864
4,603
-10.5%
Non-controlling interest
194
206
247
-5.8%
Short-term borrowings
n/a
410
262
Debt
5,663
5,316
5,427
+6.5%
Operating lease liabilities
668
0.0
n/a
Finance lease liabilities
243
n/a
n/a
Other liabilities
6,066
6,076
6,525
-0.2%
Total liabilities and equity
17,185
16,872
17,064
+1.9%
Fixed assets
n/a
7,259
7,451
Goodwill
565
569
595
-0.7%
Intangible assets
137
136
139
+0.7%
Cash and equivalents
908
801
1,043
+13.4%
Receivables
1,941
2,030
2,025
-4.4%
Inventory
2,851
2,856
2,787
-0.2%
Other assets
10,783
3,221
3,024
+234.8%
Total assets
17,185
16,872
17,064
+1.9%
10-K for the year ended 31 December 2019, filed 11 February 2020: the filing.