Huntington Ingalls Industries (HII) FY2020 results: revenue $9.4 billion, up 5.2% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $9.4 billion for fiscal 2020, the year ended 31 December 2020, up 5.2% on the year before. Net income was $696 million, up 26.8%, and diluted earnings per share $17.14. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$9.4 billion
+5.2% on the year
FY2013FY2020
Operating margin
8.5%
8.3% a year earlier
FY2013FY2020
Net income
$696 million
+26.8% on the year
FY2013FY2020
Diluted EPS
$17.14
+29.3% 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
9,361
8,899
8,176
+5.2%
Cost of revenue
7,691
7,368
6,385
+4.4%
Gross profit
1,670
1,531
1,791
+9.1%
Gross margin
17.8%
17.2%
21.9%
Research and development
31.0
23.0
25.0
+34.8%
Operating income
799
736
951
+8.6%
Operating margin
8.5%
8.3%
11.6%
Interest expense
114
70.0
58.0
+62.9%
Pre-tax income
810
683
971
+18.6%
Income tax
114
134
135
-14.9%
Effective tax rate
14.1%
19.6%
13.9%
Net income
696
549
836
+26.8%
Net margin
7.4%
6.2%
10.2%
Diluted EPS
$17.14
$13.26
$19.09
+29.3%
$ 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
1,093
896
914
+22.0%
Capital expenditure
353
530
463
-33.4%
Free cash flow
740
366
451
+102.2%
Free cash flow margin
7.9%
4.1%
5.5%
Cash from investing
-759
-627
-476
Cash from financing
103
-434
-899
Depreciation and amortisation
247
227
203
+8.8%
Share-based compensation
23.0
30.0
36.0
-23.3%
Buybacks
84.0
262
742
-67.9%
Dividends paid
172
149
132
+15.4%
Dividend per share
$4.23
$3.61
$3.02
+17.2%
Diluted shares, weighted
41m
41m
44m
-1.9%
Shares outstanding at period end
40m
41m
42m
-0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,901
1,588
1,516
+19.7%
Debt
1,754
1,363
1,283
+28.7%
Operating lease liabilities
157
164
n/a
-4.3%
Other liabilities
4,345
3,916
3,584
+11.0%
Total liabilities and equity
8,157
7,031
6,383
+16.0%
Fixed assets
2,978
2,832
2,517
+5.2%
Goodwill
1,617
1,373
1,263
+17.8%
Intangible assets
512
492
492
+4.1%
Cash and equivalents
512
75.0
240
+582.7%
Receivables
397
318
252
+24.8%
Other assets
2,141
1,941
1,619
+10.3%
Total assets
8,157
7,031
6,383
+16.0%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.