Ingersoll Rand (IR) FY2023 results: revenue $6.9 billion, up 16.2% on the year
Ingersoll Rand Inc. (IR) reported revenue of $6.9 billion for fiscal 2023, the year ended 31 December 2023, up 16.2% on the year before. Net income was $779 million, up 28.8%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$6.9 billion
+16.2% on the year
FY2016FY2023
Operating margin
16.9%
13.8% a year earlier
FY2016FY2023
Net income
$779 million
+28.8% on the year
FY2016FY2023
Diluted EPS
$1.90
+29.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,377
860
616
+60.1%
Capital expenditure
105
94.6
64.1
+11.4%
Free cash flow
1,272
766
551
+66.1%
Free cash flow margin
18.5%
12.9%
10.7%
Cash from investing
-1,060
n/a
n/a
Cash from financing
-338
-954
-1,157
Depreciation and amortisation
459
433
422
+6.1%
Share-based compensation
51.9
78.9
87.2
-34.2%
Buybacks
263
261
737
+0.7%
Dividends paid
32.4
32.4
8.2
0.0%
Diluted shares, weighted
409m
410m
421m
-0.3%
Shares outstanding at period end
403m
405m
408m
-0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
9,784
9,196
9,002
+6.4%
Non-controlling interest
62.9
61.4
69.7
+2.4%
Debt
2,724
2,753
3,441
-1.1%
Operating lease liabilities
117
80.4
61.0
+45.4%
Finance lease liabilities
13.6
14.9
16.0
-8.7%
Other liabilities
2,863
2,661
2,566
+7.6%
Total liabilities and equity
15,564
14,766
15,154
+5.4%
Fixed assets
711
624
649
+13.9%
Goodwill
6,610
6,064
5,982
+9.0%
Intangible assets
3,611
3,579
3,913
+0.9%
Cash and equivalents
1,596
1,613
2,110
-1.1%
Receivables
1,234
1,122
949
+10.0%
Inventory
1,001
1,025
854
-2.4%
Other assets
800
738
699
+8.4%
Total assets
15,564
14,766
15,154
+5.4%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.