Huntington Ingalls Industries (HII) FY2019 results: revenue $8.9 billion, up 8.8% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $8.9 billion for fiscal 2019, the year ended 31 December 2019, up 8.8% on the year before. Net income was $549 million, down 34.3%, and diluted earnings per share $13.26. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$8.9 billion
+8.8% on the year
FY2012FY2019
Operating margin
8.3%
11.6% a year earlier
FY2012FY2019
Net income
$549 million
-34.3% on the year
FY2012FY2019
Diluted EPS
$13.26
-30.5% 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
8,899
8,176
7,441
+8.8%
Cost of revenue
7,368
6,385
6,018
+15.4%
Gross profit
1,531
1,791
1,423
-14.5%
Gross margin
17.2%
21.9%
19.1%
Research and development
23.0
25.0
17.0
-8.0%
Operating income
736
951
881
-22.6%
Operating margin
8.3%
11.6%
11.8%
Interest expense
70.0
58.0
94.0
+20.7%
Pre-tax income
683
971
772
-29.7%
Income tax
134
135
293
-0.7%
Effective tax rate
19.6%
13.9%
38.0%
Net income
549
836
479
-34.3%
Net margin
6.2%
10.2%
6.4%
Diluted EPS
$13.26
$19.09
$10.46
-30.5%
$ 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
896
914
814
-2.0%
Capital expenditure
530
463
382
+14.5%
Free cash flow
366
451
432
-18.8%
Free cash flow margin
4.1%
5.5%
5.8%
Cash from investing
-627
-476
-349
Cash from financing
-434
-899
-484
Depreciation and amortisation
227
203
205
+11.8%
Share-based compensation
30.0
36.0
34.0
-16.7%
Buybacks
262
742
286
-64.7%
Dividends paid
149
132
115
+12.9%
Dividend per share
$3.61
$3.02
$2.52
+19.5%
Diluted shares, weighted
41m
44m
46m
-5.5%
Shares outstanding at period end
41m
42m
45m
-2.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,588
1,516
1,758
+4.7%
Debt
1,363
1,283
1,279
+6.2%
Operating lease liabilities
164
n/a
n/a
Other liabilities
3,916
3,584
3,337
+9.3%
Total liabilities and equity
7,031
6,383
6,374
+10.2%
Fixed assets
2,832
2,517
2,215
+12.5%
Goodwill
1,373
1,263
1,217
+8.7%
Intangible assets
492
492
508
0.0%
Cash and equivalents
75.0
240
701
-68.8%
Receivables
318
252
429
+26.2%
Other assets
1,941
1,619
1,304
+19.9%
Total assets
7,031
6,383
6,374
+10.2%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.