ITT (ITT) FY2020 results: revenue $2.5 billion, down 12.9% on the year
ITT Inc. (ITT) reported revenue of $2.5 billion for fiscal 2020, the year ended 31 December 2020, down 12.9% on the year before. Net income was $72 million, down 77.7%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$2.5 billion
-12.9% on the year
FY2013FY2020
Operating margin
9.1%
14.5% a year earlier
FY2013FY2020
Net income
$72 million
-77.7% on the year
FY2013FY2020
Diluted EPS
$0.83
-77.4% 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
2,478
2,846
2,745
-12.9%
Cost of revenue
1,696
1,936
1,858
-12.4%
Gross profit
782
910
887
-14.1%
Gross margin
31.6%
32.0%
32.3%
Research and development
84.9
97.9
98.4
-13.3%
Operating income
226
411
397
-44.9%
Operating margin
9.1%
14.5%
14.5%
Pre-tax income
85.2
414
391
-79.4%
Income tax
15.3
89.9
57.7
-83.0%
Effective tax rate
18.0%
21.7%
14.8%
Net income
72.5
325
334
-77.7%
Net margin
2.9%
11.4%
12.2%
Diluted EPS
$0.83
$3.67
$3.76
-77.4%
$ 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
437
359
368
+21.8%
Capital expenditure
63.7
91.4
95.5
-30.3%
Free cash flow
373
267
272
+39.7%
Free cash flow margin
15.1%
9.4%
9.9%
Cash from investing
-65.8
-203
-52.3
Cash from financing
-159
-102
-129
Depreciation and amortisation
112
113
109
-1.1%
Share-based compensation
13.4
15.7
21.6
-14.6%
Buybacks
73.2
41.4
56.1
+76.8%
Dividends paid
59.0
52.1
47.3
+13.2%
Dividend per share
$0.68
$0.59
$0.54
+15.0%
Diluted shares, weighted
87m
89m
89m
-1.5%
Shares outstanding at period end
86m
88m
88m
-1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,126
2,075
1,822
+2.5%
Non-controlling interest
1.5
2.9
2.5
-48.3%
Debt
107
86.5
116
+23.5%
Operating lease liabilities
72.4
76.0
0.0
-4.7%
Other liabilities
1,970
1,867
1,906
+5.5%
Total liabilities and equity
4,278
4,108
3,847
+4.1%
Fixed assets
525
532
519
-1.2%
Goodwill
945
927
876
+1.9%
Intangible assets
106
138
136
-22.9%
Investments
0.0
0.0
0.0
Cash and equivalents
860
612
561
+40.5%
Receivables
508
578
540
-12.3%
Inventory
360
393
380
-8.2%
Other assets
974
928
834
+4.9%
Total assets
4,278
4,108
3,847
+4.1%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.