Innospec (IOSP) FY2019 results: revenue $1.5 billion, up 2.5% on the year
Innospec Inc. (IOSP) reported revenue of $1.5 billion for fiscal 2019, the year ended 31 December 2019, up 2.5% on the year before. Net income was $112 million, up 32.0%, and diluted earnings per share $4.54. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$1.5 billion
+2.5% on the year
FY2012FY2019
Operating margin
9.9%
9.0% a year earlier
FY2012FY2019
Net income
$112 million
+32.0% on the year
FY2012FY2019
Diluted EPS
$4.54
+31.6% 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
1,513
1,477
1,307
+2.5%
Cost of revenue
1,047
1,042
904
+0.5%
Gross profit
466
435
403
+7.2%
Gross margin
30.8%
29.5%
30.9%
Research and development
35.4
33.4
31.4
+6.0%
Selling, general and administrative
281
261
244
+7.6%
Operating income
150
134
125
+12.3%
Operating margin
9.9%
9.0%
9.6%
Interest expense
4.8
6.5
7.2
-26.2%
Pre-tax income
150
132
128
+14.3%
Income tax
38.2
46.6
66.3
-18.0%
Effective tax rate
25.4%
35.4%
51.8%
Net income
112
85.0
61.8
+32.0%
Net margin
7.4%
5.8%
4.7%
Diluted EPS
$4.54
$3.45
$2.52
+31.6%
$ 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
162
105
82.7
+54.1%
Capital expenditure
29.9
28.9
23.3
+3.5%
Free cash flow
132
76.0
59.4
+73.3%
Free cash flow margin
8.7%
5.1%
4.5%
Cash from investing
-31.0
-35.5
-29.6
Cash from financing
-178
-36.2
-66.4
Depreciation and amortisation
47.6
49.6
50.4
-4.0%
Share-based compensation
6.6
4.9
4.1
+34.7%
Buybacks
2.4
1.4
1.1
+71.4%
Dividends paid
25.0
21.7
18.6
+15.2%
Dividend per share
$1.02
$0.89
$0.77
+14.6%
Diluted shares, weighted
25m
25m
24m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
918
825
794
+11.3%
Non-controlling interest
0.4
0.5
0.4
-20.0%
Debt
58.6
208
218
-71.8%
Operating lease liabilities
21.9
0.0
n/a
Other liabilities
469
440
398
+6.6%
Total liabilities and equity
1,469
1,473
1,410
-0.3%
Fixed assets
199
196
196
+1.2%
Goodwill
363
365
362
-0.5%
Intangible assets
114
136
163
-16.7%
Cash and equivalents
75.7
123
90.2
-38.5%
Receivables
292
280
244
+4.4%
Inventory
245
248
210
-1.4%
Other assets
181
125
145
+45.0%
Total assets
1,469
1,473
1,410
-0.3%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.