Jabil (JBL) FY2020 results: revenue $27.3 billion, up 7.8% on the year
Jabil Inc. (JBL) reported revenue of $27.3 billion for fiscal 2020, the year ended 31 August 2020, up 7.8% on the year before. Net income was $54 million, down 81.2%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 22 October 2020.
Revenue
$27.3 billion
+7.8% on the year
FY2013FY2020
Operating margin
1.8%
2.8% a year earlier
FY2013FY2020
Net income
$54 million
-81.2% on the year
FY2013FY2020
Diluted EPS
$0.35
-80.7% 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
27,266
25,282
22,095
+7.8%
Cost of revenue
25,336
23,369
20,389
+8.4%
Gross profit
1,931
1,913
1,707
+0.9%
Gross margin
7.1%
7.6%
7.7%
Research and development
43.0
43.0
38.5
0.0%
Selling, general and administrative
1,175
1,111
1,051
+5.7%
Operating income
500
701
542
-28.7%
Operating margin
1.8%
2.8%
2.5%
Interest expense
174
188
149
-7.5%
Pre-tax income
261
451
373
-42.1%
Income tax
204
162
286
+25.9%
Effective tax rate
78.2%
35.9%
76.6%
Net income
53.9
287
86.3
-81.2%
Net margin
0.2%
1.1%
0.4%
Diluted EPS
$0.35
$1.81
$0.49
-80.7%
$ 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
1,257
1,193
-1,105
+5.4%
Capital expenditure
983
1,005
1,037
-2.2%
Free cash flow
274
188
-2,142
+46.2%
Free cash flow margin
1.0%
0.7%
-9.7%
Cash from investing
-921
-872
1,241
Cash from financing
-65.1
-416
-47.0
Depreciation and amortisation
795
772
774
+2.9%
Share-based compensation
83.1
61.0
98.5
+36.2%
Buybacks
215
350
450
-38.6%
Dividends paid
50.0
52.0
57.8
-3.9%
Dividend per share
n/a
n/a
$0.32
Diluted shares, weighted
155m
159m
175m
-2.1%
Shares outstanding at period end
150m
154m
165m
-2.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,811
1,887
1,950
-4.0%
Non-controlling interest
14.0
13.3
13.1
+5.3%
Debt
2,728
2,496
2,519
+9.3%
Operating lease liabilities
302
n/a
n/a
Finance lease liabilities
161
n/a
n/a
Other liabilities
9,381
8,573
7,564
+9.4%
Total liabilities and equity
14,397
12,970
12,046
+11.0%
Fixed assets
3,665
3,334
3,198
+9.9%
Goodwill
697
622
628
+12.0%
Intangible assets
210
257
279
-18.3%
Cash and equivalents
1,394
1,163
1,258
+19.8%
Inventory
3,132
3,023
3,458
+3.6%
Other assets
5,300
4,571
3,225
+15.9%
Total assets
14,397
12,970
12,046
+11.0%
10-K for the year ended 31 August 2020, filed 22 October 2020: the filing.