Idex (IEX) FY2019 results: revenue $2.5 billion, up 0.4% on the year
Idex Corp. (IEX) reported revenue of $2.5 billion for fiscal 2019, the year ended 31 December 2019, up 0.4% on the year before. Net income was $426 million, up 3.6%, and diluted earnings per share $5.56. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$2.5 billion
+0.4% on the year
FY2012FY2019
Operating margin
23.2%
22.9% a year earlier
FY2012FY2019
Net income
$426 million
+3.6% on the year
FY2012FY2019
Diluted EPS
$5.56
+5.1% 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
2,495
2,484
2,287
+0.4%
Cost of revenue
1,370
1,366
1,261
+0.3%
Gross profit
1,125
1,118
1,027
+0.6%
Gross margin
45.1%
45.0%
44.9%
Research and development
56.4
48.0
42.4
+17.5%
Selling, general and administrative
525
537
525
-2.2%
Operating income
579
569
503
+1.7%
Operating margin
23.2%
22.9%
22.0%
Interest expense
44.3
44.1
44.9
+0.5%
Pre-tax income
533
529
455
+0.7%
Income tax
107
118
118
-9.3%
Effective tax rate
20.2%
22.4%
25.9%
Net income
426
411
337
+3.6%
Net margin
17.1%
16.5%
14.7%
Diluted EPS
$5.56
$5.29
$4.36
+5.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
528
479
433
+10.2%
Capital expenditure
50.9
56.1
43.9
-9.2%
Free cash flow
477
423
389
+12.7%
Free cash flow margin
19.1%
17.0%
17.0%
Cash from investing
-137
-81.4
-54.7
Cash from financing
-228
-290
-277
Depreciation and amortisation
76.9
77.5
84.2
-0.9%
Share-based compensation
22.1
24.8
24.4
-10.7%
Buybacks
54.7
174
29.1
-68.6%
Dividends paid
147
127
111
+15.5%
Dividend per share
$2.00
$1.72
$1.48
+16.3%
Diluted shares, weighted
76m
78m
77m
-1.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,263
1,995
1,887
+13.5%
Non-controlling interest
0.0
n/a
n/a
Short-term borrowings
0.4
0.5
0.3
-19.7%
Debt
851
851
862
-0.1%
Operating lease liabilities
69.9
0.0
n/a
Other liabilities
630
628
651
+0.3%
Total liabilities and equity
3,814
3,474
3,400
+9.8%
Fixed assets
280
281
258
-0.3%
Goodwill
1,780
1,698
1,704
+4.8%
Intangible assets
388
383
415
+1.2%
Securities held for sale or to maturity
10.5
7.6
6.7
+37.7%
Cash and equivalents
633
466
376
+35.6%
Receivables
298
314
294
-5.0%
Inventory
293
280
260
+4.8%
Other assets
131
43.6
85.8
+200.7%
Total assets
3,814
3,474
3,400
+9.8%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.