ICU Medical (ICUI) FY2019 results: revenue $1.3 billion, down 9.6% on the year
ICU Medical Inc. (ICUI) reported revenue of $1.3 billion for fiscal 2019, the year ended 31 December 2019, down 9.6% on the year before. Net income was $101 million, up 250.9%, and diluted earnings per share $4.69. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$1.3 billion
-9.6% on the year
FY2012FY2019
Operating margin
8.5%
2.1% a year earlier
FY2012FY2019
Net income
$101 million
+250.9% on the year
FY2012FY2019
Diluted EPS
$4.69
+252.6% 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
1,266
1,400
1,293
-9.6%
Cost of revenue
794
830
867
-4.3%
Gross profit
472
570
426
-17.2%
Gross margin
37.3%
40.7%
33.0%
Research and development
48.6
52.9
51.3
-8.1%
Selling, general and administrative
277
320
302
-13.4%
Operating income
107
29.8
-13.3
+260.8%
Operating margin
8.5%
2.1%
-1.0%
Interest expense
0.5
0.7
2.0
-22.6%
Pre-tax income
115
22.4
51.3
+412.7%
Income tax
13.7
-6.4
-17.4
Effective tax rate
11.9%
-28.7%
-33.9%
Net income
101
28.8
68.6
+250.9%
Net margin
8.0%
2.1%
5.3%
Diluted EPS
$4.69
$1.33
$3.29
+252.6%
$ 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
102
160
154
-36.4%
Capital expenditure
97.3
92.7
74.5
+5.0%
Free cash flow
4.6
67.5
79.9
-93.2%
Free cash flow margin
0.4%
4.8%
6.2%
Cash from investing
-167
-103
-267
Cash from financing
-10.9
8.0
-44.3
Depreciation and amortisation
76.9
74.7
66.6
+2.9%
Share-based compensation
21.9
24.2
19.4
-9.6%
Buybacks
18.6
6.3
4.1
+198.1%
Diluted shares, weighted
22m
22m
21m
-0.3%
Shares outstanding at period end
21m
20m
20m
+1.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,377
1,264
1,198
+9.0%
Operating lease liabilities
28.9
n/a
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
286
322
299
-11.0%
Total liabilities and equity
1,692
1,585
1,497
+6.7%
Fixed assets
456
433
399
+5.4%
Goodwill
31.2
11.2
12.4
+179.1%
Intangible assets
211
133
144
+58.5%
Investments
24.0
39.4
24.6
-39.1%
Cash and equivalents
269
345
290
-22.1%
Receivables
202
176
113
+14.7%
Inventory
338
311
289
+8.5%
Other assets
161
137
226
+18.0%
Total assets
1,692
1,585
1,497
+6.7%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.