Howmet Aerospace (HWM) FY2021 results: revenue $5.0 billion, down 5.5% on the year
Howmet Aerospace Inc. (HWM) reported revenue of $5.0 billion for fiscal 2021, the year ended 31 December 2021, down 5.5% on the year before. Net income was $258 million, down 1.1%, and diluted earnings per share $0.59. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2022.
Revenue
$5.0 billion
-5.5% on the year
FY2013FY2021
Operating margin
15.0%
11.9% a year earlier
FY2013FY2021
Net income
$258 million
-1.1% on the year
FY2013FY2021
Diluted EPS
$0.59
0.0% on the year
FY2013FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
449
9.0
461
+4,888.9%
Capital expenditure
199
267
641
-25.5%
Free cash flow
250
-258
-180
Free cash flow margin
5.0%
-4.9%
-2.5%
Cash from investing
107
271
528
-60.5%
Cash from financing
-1,444
-369
-1,568
Depreciation and amortisation
270
338
536
-20.1%
Share-based compensation
40.0
46.0
69.0
-13.0%
Buybacks
430
73.0
1,150
+489.0%
Dividends paid
19.0
11.0
57.0
+72.7%
Dividend per share
$0.04
$0.02
$0.12
+100.0%
Diluted shares, weighted
435m
439m
463m
-0.9%
Shares outstanding at period end
422m
433m
433m
-2.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,508
3,577
4,591
-1.9%
Non-controlling interest
0.0
0.0
14.0
Short-term borrowings
5.0
376
1,034
-98.7%
Debt
4,232
5,075
5,940
-16.6%
Operating lease liabilities
81.0
100
98.0
-19.0%
Other liabilities
2,393
2,315
5,901
+3.4%
Total liabilities and equity
10,219
11,443
17,578
-10.7%
Fixed assets
2,467
2,592
2,629
-4.8%
Goodwill
4,067
4,102
4,067
-0.9%
Intangible assets
549
571
599
-3.9%
Cash and equivalents
720
1,610
1,577
-55.3%
Receivables
367
328
583
+11.9%
Inventory
1,402
1,488
1,607
-5.8%
Other assets
647
752
6,516
-14.0%
Total assets
10,219
11,443
17,578
-10.7%
10-K for the year ended 31 December 2021, filed 14 February 2022: the filing.