Ingersoll Rand (IR) FY2019 results: revenue $2.0 billion, down 25.0% on the year
Ingersoll Rand Inc. (IR) reported revenue of $2.0 billion for fiscal 2019, the year ended 31 December 2019, down 25.0% on the year before. Net income was $159 million, down 40.9%, and diluted earnings per share $0.76. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$2.0 billion
-25.0% on the year
FY2015FY2019
Operating margin
9.6%
16.5% a year earlier
FY2015FY2019
Net income
$159 million
-40.9% on the year
FY2015FY2019
Diluted EPS
$0.76
-41.1% on the year
FY2015FY2019
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
2,018
2,690
2,375
-25.0%
Cost of revenue
1,239
1,677
1,478
-26.1%
Gross profit
778
1,012
898
-23.1%
Gross margin
38.6%
37.6%
37.8%
Research and development
22.0
24.0
26.0
-8.3%
Selling, general and administrative
410
435
447
-5.8%
Operating income
194
443
109
-56.2%
Operating margin
9.6%
16.5%
4.6%
Interest expense
88.4
99.6
141
-11.2%
Pre-tax income
110
350
-113
-68.5%
Income tax
12.9
80.1
-131
-83.9%
Effective tax rate
11.7%
22.9%
n/a
Net income
159
269
18.4
-40.9%
Net margin
7.9%
10.0%
0.8%
Diluted EPS
$0.76
$1.29
$0.10
-41.1%
$ 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
343
444
200
-22.8%
Capital expenditure
37.9
52.2
56.8
-27.4%
Free cash flow
305
392
144
-22.2%
Free cash flow margin
15.1%
14.6%
6.0%
Cash from investing
-54.3
-235
-60.8
Cash from financing
-11.5
-373
-17.4
Depreciation and amortisation
146
180
174
-18.8%
Share-based compensation
18.7
2.8
175
+567.9%
Buybacks
18.6
40.7
3.6
-54.3%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
209m
209m
188m
-0.1%
Shares outstanding at period end
205m
198m
196m
+3.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,870
1,676
1,477
+11.6%
Non-controlling interest
0.0
n/a
0.0
Short-term borrowings
0.0
0.0
n/a
Debt
1,604
1,664
2,040
-3.6%
Operating lease liabilities
41.0
n/a
n/a
Finance lease liabilities
17.2
n/a
n/a
Other liabilities
1,096
1,147
1,104
-4.4%
Total liabilities and equity
4,628
4,487
4,621
+3.1%
Fixed assets
327
357
363
-8.4%
Goodwill
1,093
1,290
1,228
-15.2%
Intangible assets
1,255
1,368
1,431
-8.3%
Cash and equivalents
506
221
393
+128.5%
Receivables
459
525
536
-12.6%
Inventory
502
524
494
-4.1%
Other assets
487
202
175
+140.9%
Total assets
4,628
4,487
4,621
+3.1%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.