Ichor Holdings (ICHR) FY2020 results: revenue $914 million, up 47.3% on the year
Ichor Holdings, Ltd. (ICHR) reported revenue of $914 million for fiscal 2020, the year ended 25 December 2020, up 47.3% on the year before. Net income was $33 million, up 210.2%, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 5 March 2021.
Revenue
$914 million
+47.3% on the year
FY2015FY2020
Operating margin
4.5%
2.4% a year earlier
FY2015FY2020
Net income
$33 million
+210.2% on the year
FY2015FY2020
Diluted EPS
$1.42
+202.1% on the year
FY2015FY2020
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
914
621
824
+47.3%
Cost of revenue
789
534
687
+47.7%
Gross profit
125
86.4
136
+44.6%
Gross margin
13.7%
13.9%
16.5%
Research and development
13.4
11.1
9.4
+20.3%
Selling, general and administrative
56.6
47.3
47.4
+19.8%
Operating income
41.6
15.0
64.0
+177.4%
Operating margin
4.5%
2.4%
7.8%
Interest expense
8.7
10.6
10.0
-18.0%
Pre-tax income
32.3
4.3
54.2
+655.3%
Income tax
-1.0
-6.5
-3.7
Effective tax rate
-3.1%
-151.0%
-6.8%
Net income
33.3
10.7
57.9
+210.2%
Net margin
3.6%
1.7%
7.0%
Diluted EPS
$1.42
$0.47
$2.30
+202.1%
$ 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
38.3
57.1
60.5
-33.1%
Capital expenditure
10.3
12.3
13.9
-16.5%
Free cash flow
28.0
44.8
46.6
-37.6%
Free cash flow margin
3.1%
7.2%
5.7%
Cash from investing
-14.6
-20.5
-15.4
Cash from financing
169
-19.9
-70.6
Depreciation and amortisation
24.2
21.9
23.1
+10.9%
Share-based compensation
9.9
8.5
7.6
+15.7%
Buybacks
n/a
1.6
90.0
Diluted shares, weighted
23m
23m
25m
+3.0%
Shares outstanding at period end
28m
23m
22m
+23.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
412
221
198
+85.9%
Debt
200
178
201
+12.5%
Operating lease liabilities
5.3
9.1
n/a
-41.9%
Other liabilities
157
158
86.3
-0.7%
Total liabilities and equity
774
567
485
+36.6%
Fixed assets
41.8
44.5
41.7
-6.1%
Goodwill
175
173
173
+1.1%
Intangible assets
39.8
52.0
56.9
-23.4%
Cash and equivalents
253
60.6
43.8
+317.2%
Receivables
101
84.8
40.3
+19.0%
Inventory
135
127
121
+6.1%
Other assets
29.0
24.5
8.6
+18.5%
Total assets
774
567
485
+36.6%
10-K for the year ended 25 December 2020, filed 5 March 2021: the filing.