Ichor Holdings (ICHR) FY2019 results: revenue $621 million, down 24.6% on the year
Ichor Holdings, Ltd. (ICHR) reported revenue of $621 million for fiscal 2019, the year ended 27 December 2019, down 24.6% on the year before. Net income was $11 million, down 81.5%, and diluted earnings per share $0.47. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2020.
Revenue
$621 million
-24.6% on the year
FY2015FY2019
Operating margin
2.4%
7.8% a year earlier
FY2015FY2019
Net income
$11 million
-81.5% on the year
FY2015FY2019
Diluted EPS
$0.47
-79.6% on the year
FY2015FY2019
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
621
824
656
-24.6%
Cost of revenue
534
687
555
-22.3%
Gross profit
86.4
136
101
-36.6%
Gross margin
13.9%
16.5%
15.4%
Research and development
11.1
9.4
7.9
+18.7%
Selling, general and administrative
47.3
47.4
37.8
-0.4%
Operating income
15.0
64.0
46.2
-76.6%
Operating margin
2.4%
7.8%
7.0%
Interest expense
10.6
10.0
3.3
+6.6%
Pre-tax income
4.3
54.2
43.0
-92.1%
Income tax
-6.5
-3.7
-13.9
Effective tax rate
-151.0%
-6.8%
-32.3%
Net income
10.7
57.9
56.5
-81.5%
Net margin
1.7%
7.0%
8.6%
Diluted EPS
$0.47
$2.30
$2.15
-79.6%
$ 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
57.1
60.5
38.8
-5.5%
Capital expenditure
12.3
13.9
8.2
-11.3%
Free cash flow
44.8
46.6
30.6
-3.8%
Free cash flow margin
7.2%
5.7%
4.7%
Cash from investing
-20.5
-15.4
-187
Cash from financing
-19.9
-70.6
165
Depreciation and amortisation
21.9
23.1
12.5
-5.2%
Share-based compensation
8.5
7.6
2.2
+12.7%
Buybacks
1.6
90.0
n/a
-98.2%
Diluted shares, weighted
23m
25m
26m
-9.4%
Shares outstanding at period end
23m
22m
26m
+1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
221
198
217
+11.6%
Debt
178
201
187
-11.4%
Operating lease liabilities
9.1
n/a
n/a
Other liabilities
158
86.3
154
+83.1%
Total liabilities and equity
567
485
558
+16.7%
Fixed assets
44.5
41.7
34.4
+6.7%
Goodwill
173
173
169
0.0%
Intangible assets
52.0
56.9
73.4
-8.6%
Cash and equivalents
60.6
43.8
69.3
+38.3%
Receivables
84.8
40.3
49.2
+110.6%
Inventory
127
121
155
+4.9%
Other assets
24.5
8.6
7.4
+184.1%
Total assets
567
485
558
+16.7%
10-K for the year ended 27 December 2019, filed 6 March 2020: the filing.