Goodyear Tire & Rubber (GT) FY2020 results: revenue $12.3 billion, down 16.4% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $12.3 billion for fiscal 2020, the year ended 31 December 2020, down 16.4% on the year before. Net income was -$1.3 billion, and diluted earnings per share $-5.35. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2021.
Revenue
$12.3 billion
-16.4% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
-$1.3 billion
FY2013FY2020
Diluted EPS
-$5.35
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
12,321
14,745
15,475
-16.4%
Cost of revenue
10,337
11,602
11,961
-10.9%
Gross profit
1,984
3,143
3,514
-36.9%
Gross margin
16.1%
21.3%
22.7%
Research and development
390
430
424
-9.3%
Selling, general and administrative
2,192
2,323
2,312
-5.6%
Interest expense
324
340
321
-4.7%
Pre-tax income
-1,140
177
1,011
Income tax
110
474
303
-76.8%
Effective tax rate
n/a
267.8%
30.0%
Net income
-1,254
-311
693
Net margin
-10.2%
-2.1%
4.5%
Diluted EPS
-$5.35
-$1.33
$2.89
$ 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
1,115
1,207
916
-7.6%
Capital expenditure
647
770
811
-16.0%
Free cash flow
468
437
105
+7.1%
Free cash flow margin
3.8%
3.0%
0.7%
Cash from investing
-667
-800
-867
Cash from financing
203
-307
-243
Depreciation and amortisation
859
795
778
+8.1%
Share-based compensation
31.0
27.0
16.0
+14.8%
Buybacks
0.0
0.0
220
Dividends paid
37.0
148
138
-75.0%
Dividend per share
$0.16
$0.64
$0.58
-75.0%
Diluted shares, weighted
234m
233m
239m
+0.4%
Shares outstanding at period end
233m
233m
232m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,078
4,351
4,864
-29.3%
Non-controlling interest
181
194
206
-6.7%
Short-term borrowings
n/a
n/a
410
Debt
5,990
5,663
5,316
+5.8%
Operating lease liabilities
684
668
0.0
+2.4%
Finance lease liabilities
232
243
n/a
-4.5%
Other liabilities
6,341
6,066
6,076
+4.5%
Total liabilities and equity
16,506
17,185
16,872
-4.0%
Fixed assets
n/a
n/a
7,259
Goodwill
408
565
569
-27.8%
Intangible assets
135
137
136
-1.5%
Cash and equivalents
1,539
908
801
+69.5%
Receivables
1,691
1,941
2,030
-12.9%
Inventory
2,153
2,851
2,856
-24.5%
Other assets
10,580
10,783
3,221
-1.9%
Total assets
16,506
17,185
16,872
-4.0%
10-K for the year ended 31 December 2020, filed 9 February 2021: the filing.