Innoviva (INVA) FY2020 results: revenue $337 million, up 29.0% on the year
Innoviva, Inc. (INVA) reported revenue of $337 million for fiscal 2020, the year ended 31 December 2020, up 29.0% on the year before. Net income was $224 million, up 42.7%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$337 million
+29.0% on the year
FY2013FY2020
Operating margin
95.3%
94.4% a year earlier
FY2013FY2020
Net income
$224 million
+42.7% on the year
FY2013FY2020
Diluted EPS
$2.02
+41.3% 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
337
261
261
+29.0%
Research and development
1.8
0.0
0.0
Selling, general and administrative
13.9
n/a
n/a
Operating income
321
246
238
+30.3%
Operating margin
95.3%
94.4%
91.3%
Interest expense
18.3
18.7
24.0
-1.8%
Pre-tax income
354
233
210
+52.1%
Income tax
60.4
41.9
-196
+44.2%
Effective tax rate
17.1%
18.0%
-93.3%
Net income
224
157
395
+42.7%
Net margin
66.6%
60.3%
151.4%
Diluted EPS
$2.02
$1.43
$3.53
+41.3%
$ 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
313
257
224
+21.6%
Capital expenditure
0.0
0.0
0.0
+8.3%
Free cash flow
313
257
224
+21.6%
Free cash flow margin
93.0%
98.6%
85.6%
Cash from investing
-315
-18.0
3.5
Cash from financing
-29.8
-23.8
-238
Depreciation and amortisation
13.8
13.9
13.9
-0.2%
Share-based compensation
1.7
2.1
3.2
-17.4%
Buybacks
0.0
0.0
0.0
Dividends paid
0.0
0.0
0.1
Diluted shares, weighted
114m
113m
113m
+0.1%
Shares outstanding at period end
101m
101m
101m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
540
313
154
+72.2%
Non-controlling interest
67.9
28.6
5.5
+137.3%
Debt
386
377
383
+2.2%
Operating lease liabilities
n/a
n/a
0.0
Other liabilities
6.2
5.6
6.3
+11.2%
Total liabilities and equity
1,000
725
548
+37.9%
Fixed assets
0.0
0.0
0.2
-15.2%
Investments
438
72.7
52.5
+502.4%
Cash and equivalents
246
278
62.4
-11.4%
Other assets
315
374
433
-15.8%
Total assets
1,000
725
548
+37.9%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.