Innospec (IOSP) FY2020 results: revenue $1.2 billion, down 21.2% on the year
Innospec Inc. (IOSP) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, down 21.2% on the year before. Net income was $29 million, down 74.4%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$1.2 billion
-21.2% on the year
FY2013FY2020
Operating margin
2.8%
9.9% a year earlier
FY2013FY2020
Net income
$29 million
-74.4% on the year
FY2013FY2020
Diluted EPS
$1.16
-74.4% 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
1,193
1,513
1,477
-21.2%
Cost of revenue
850
1,047
1,042
-18.8%
Gross profit
343
466
435
-26.5%
Gross margin
28.7%
30.8%
29.5%
Research and development
30.9
35.4
33.4
-12.7%
Selling, general and administrative
237
281
261
-15.6%
Operating income
33.7
150
134
-77.5%
Operating margin
2.8%
9.9%
9.0%
Interest expense
0.8
4.8
6.5
-83.3%
Pre-tax income
39.7
150
132
-73.6%
Income tax
11.0
38.2
46.6
-71.2%
Effective tax rate
27.7%
25.4%
35.4%
Net income
28.7
112
85.0
-74.4%
Net margin
2.4%
7.4%
5.8%
Diluted EPS
$1.16
$4.54
$3.45
-74.4%
$ 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
146
162
105
-9.7%
Capital expenditure
29.7
29.9
28.9
-0.7%
Free cash flow
116
132
76.0
-11.8%
Free cash flow margin
9.7%
8.7%
5.1%
Cash from investing
-29.7
-31.0
-35.5
Cash from financing
-86.8
-178
-36.2
Depreciation and amortisation
46.0
47.6
49.6
-3.4%
Share-based compensation
5.8
6.6
4.9
-12.1%
Buybacks
2.1
2.4
1.4
-12.5%
Dividends paid
25.6
25.0
21.7
+2.4%
Dividend per share
$1.04
$1.02
$0.89
+2.0%
Diluted shares, weighted
25m
25m
25m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
944
918
825
+2.8%
Non-controlling interest
0.5
0.4
0.5
+25.0%
Debt
0.0
58.6
208
Operating lease liabilities
28.9
21.9
0.0
+32.0%
Finance lease liabilities
0.1
n/a
n/a
Other liabilities
424
469
440
-9.8%
Total liabilities and equity
1,397
1,469
1,473
-4.9%
Fixed assets
211
199
196
+6.1%
Goodwill
371
363
365
+2.3%
Intangible assets
75.3
114
136
-33.7%
Cash and equivalents
105
75.7
123
+39.1%
Receivables
221
292
280
-24.2%
Inventory
220
245
248
-10.1%
Other assets
193
181
125
+6.7%
Total assets
1,397
1,469
1,473
-4.9%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.