ICU Medical (ICUI) FY2020 results: revenue $1.3 billion, up 0.4% on the year
ICU Medical Inc. (ICUI) reported revenue of $1.3 billion for fiscal 2020, the year ended 31 December 2020, up 0.4% on the year before. Net income was $87 million, down 14.0%, and diluted earnings per share $4.02. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$1.3 billion
+0.4% on the year
FY2013FY2020
Operating margin
7.7%
8.5% a year earlier
FY2013FY2020
Net income
$87 million
-14.0% on the year
FY2013FY2020
Diluted EPS
$4.02
-14.3% 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
1,271
1,266
1,400
+0.4%
Cost of revenue
810
794
830
+1.9%
Gross profit
461
472
570
-2.2%
Gross margin
36.3%
37.3%
40.7%
Research and development
42.9
48.6
52.9
-11.6%
Selling, general and administrative
284
277
320
+2.5%
Operating income
98.2
107
29.8
-8.6%
Operating margin
7.7%
8.5%
2.1%
Interest expense
1.8
0.5
0.7
+219.3%
Pre-tax income
97.5
115
22.4
-15.0%
Income tax
10.6
13.7
-6.4
-22.3%
Effective tax rate
10.9%
11.9%
-28.7%
Net income
86.9
101
28.8
-14.0%
Net margin
6.8%
8.0%
2.1%
Diluted EPS
$4.02
$4.69
$1.33
-14.3%
$ 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
223
102
160
+118.6%
Capital expenditure
92.0
97.3
92.7
-5.5%
Free cash flow
131
4.6
67.5
+2,738.6%
Free cash flow margin
10.3%
0.4%
4.8%
Cash from investing
-98.1
-167
-103
Cash from financing
-0.0
-10.9
8.0
Depreciation and amortisation
85.6
76.9
74.7
+11.3%
Share-based compensation
24.0
21.9
24.2
+9.3%
Buybacks
12.9
18.6
6.3
-30.9%
Diluted shares, weighted
22m
22m
22m
+0.2%
Shares outstanding at period end
21m
21m
20m
+1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,502
1,377
1,264
+9.1%
Debt
0.0
n/a
n/a
Operating lease liabilities
41.0
28.9
n/a
+42.0%
Finance lease liabilities
2.4
0.0
n/a
Other liabilities
218
286
322
-23.8%
Total liabilities and equity
1,764
1,692
1,585
+4.2%
Fixed assets
467
456
433
+2.3%
Goodwill
33.0
31.2
11.2
+5.6%
Intangible assets
197
211
133
-6.7%
Investments
27.7
24.0
39.4
+15.4%
Cash and equivalents
396
269
345
+47.4%
Receivables
124
202
176
-38.6%
Inventory
315
338
311
-6.7%
Other assets
204
161
137
+26.6%
Total assets
1,764
1,692
1,585
+4.2%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.