International Paper (IP) FY2020 results: revenue $17.6 billion, down 4.1% on the year
International Paper Co. (IP) reported revenue of $17.6 billion for fiscal 2020, the year ended 31 December 2020, down 4.1% on the year before. Net income was $482 million, down 60.7%, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$17.6 billion
-4.1% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$482 million
-60.7% on the year
FY2013FY2020
Diluted EPS
$1.22
-60.3% 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
17,565
18,317
23,306
-4.1%
Cost of revenue
12,339
12,669
15,555
-2.6%
Gross profit
5,226
5,648
7,751
-7.5%
Gross margin
29.8%
30.8%
33.3%
Selling, general and administrative
1,353
1,449
1,723
-6.6%
Interest expense
597
701
734
-14.8%
Pre-tax income
329
921
1,781
-64.3%
Income tax
176
477
445
-63.1%
Effective tax rate
53.5%
51.8%
25.0%
Net income
482
1,225
2,012
-60.7%
Net margin
2.7%
6.7%
8.6%
Diluted EPS
$1.22
$3.07
$4.85
-60.3%
$ 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
3,063
3,610
3,226
-15.2%
Capital expenditure
663
1,137
1,572
-41.7%
Free cash flow
2,400
2,473
1,654
-3.0%
Free cash flow margin
13.7%
13.5%
7.1%
Cash from investing
-269
-1,300
-1,569
Cash from financing
-2,700
-2,389
-2,046
Depreciation and amortisation
1,091
1,072
1,328
+1.8%
Buybacks
42.0
535
732
-92.1%
Dividends paid
806
796
789
+1.3%
Dividend per share
$2.05
$2.01
$1.93
+1.9%
Diluted shares, weighted
396m
399m
414m
-0.8%
Shares outstanding at period end
449m
449m
449m
-0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
7,854
7,713
7,362
+1.8%
Non-controlling interest
14.0
5.0
21.0
+180.0%
Debt
8,068
9,699
16,952
-16.8%
Operating lease liabilities
256
304
0.0
-15.8%
Finance lease liabilities
82.0
88.0
n/a
-6.8%
Other liabilities
15,444
15,662
9,241
-1.4%
Total liabilities and equity
31,718
33,471
33,576
-5.2%
Fixed assets
10,945
13,004
13,067
-15.8%
Goodwill
3,115
3,114
3,374
+0.0%
Intangible assets
301
368
393
-18.2%
Investments
n/a
1,721
1,648
Cash and equivalents
595
511
589
+16.4%
Inventory
1,626
2,208
2,241
-26.4%
Other assets
15,136
12,545
12,264
+20.7%
Total assets
31,718
33,471
33,576
-5.2%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.