Idex (IEX) FY2020 results: revenue $2.4 billion, down 5.7% on the year
Idex Corp. (IEX) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, down 5.7% on the year before. Net income was $378 million, down 11.2%, and diluted earnings per share $4.94. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$2.4 billion
-5.7% on the year
FY2013FY2020
Operating margin
22.1%
23.2% a year earlier
FY2013FY2020
Net income
$378 million
-11.2% on the year
FY2013FY2020
Diluted EPS
$4.94
-11.2% 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
2,352
2,495
2,484
-5.7%
Cost of revenue
1,324
1,370
1,366
-3.3%
Gross profit
1,027
1,125
1,118
-8.7%
Gross margin
43.7%
45.1%
45.0%
Research and development
48.2
56.4
48.0
-14.5%
Selling, general and administrative
495
525
537
-5.7%
Operating income
521
579
569
-10.1%
Operating margin
22.1%
23.2%
22.9%
Interest expense
44.7
44.3
44.1
+0.9%
Pre-tax income
470
533
529
-11.7%
Income tax
92.6
107
118
-13.8%
Effective tax rate
19.7%
20.2%
22.4%
Net income
378
426
411
-11.2%
Net margin
16.1%
17.1%
16.5%
Diluted EPS
$4.94
$5.56
$5.29
-11.2%
$ 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
569
528
479
+7.8%
Capital expenditure
51.5
50.9
56.1
+1.2%
Free cash flow
518
477
423
+8.5%
Free cash flow margin
22.0%
19.1%
17.0%
Cash from investing
-173
-137
-81.4
Cash from financing
-42.6
-228
-290
Depreciation and amortisation
83.5
76.9
77.5
+8.6%
Share-based compensation
14.8
22.1
24.8
-33.0%
Buybacks
110
54.7
174
+101.8%
Dividends paid
152
147
127
+3.1%
Dividend per share
$2.00
$2.00
$1.72
0.0%
Diluted shares, weighted
76m
76m
78m
-0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,540
2,263
1,995
+12.2%
Non-controlling interest
0.1
0.0
n/a
Short-term borrowings
0.1
0.4
0.5
-74.2%
Debt
1,050
851
851
+23.5%
Operating lease liabilities
94.2
69.9
0.0
+34.8%
Other liabilities
730
630
628
+15.8%
Total liabilities and equity
4,414
3,814
3,474
+15.7%
Fixed assets
298
280
281
+6.4%
Goodwill
1,896
1,780
1,698
+6.5%
Intangible assets
416
388
383
+7.1%
Securities held for sale or to maturity
13.6
10.5
7.6
+29.6%
Cash and equivalents
1,026
633
466
+62.2%
Receivables
288
298
314
-3.3%
Inventory
290
293
280
-1.2%
Other assets
187
131
43.6
+42.8%
Total assets
4,414
3,814
3,474
+15.7%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.