Johnson Controls International (JCI) FY2019 results: revenue $24.0 billion, up 2.4% on the year
Johnson Controls International plc (JCI) reported revenue of $24.0 billion for fiscal 2019, the year ended 30 September 2019, up 2.4% on the year before. Net income was $5.7 billion, up 162.4%, and diluted earnings per share $6.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2019.
Revenue
$24.0 billion
+2.4% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$5.7 billion
+162.4% on the year
FY2012FY2019
Diluted EPS
$6.49
+179.7% on the year
FY2012FY2019
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
23,968
23,400
22,835
+2.4%
Cost of revenue
16,275
15,733
15,305
+3.4%
Gross profit
7,693
7,667
7,530
+0.3%
Gross margin
32.1%
32.8%
33.0%
Research and development
319
310
307
+2.9%
Selling, general and administrative
6,244
5,642
5,723
+10.7%
Interest expense
335
409
446
-18.1%
Pre-tax income
1,056
1,546
1,151
-31.7%
Income tax
-233
197
322
Effective tax rate
-22.1%
12.7%
28.0%
Net income
5,674
2,162
1,611
+162.4%
Net margin
23.7%
9.2%
7.1%
Diluted EPS
$6.49
$2.32
$1.71
+179.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,743
1,520
371
+14.7%
Capital expenditure
586
645
760
-9.1%
Free cash flow
1,157
875
-389
+32.2%
Free cash flow margin
4.8%
3.7%
-1.7%
Cash from investing
-533
1,568
-648
Cash from financing
-10,519
-3,752
-649
Depreciation and amortisation
825
824
919
+0.1%
Share-based compensation
95.0
106
134
-10.4%
Buybacks
5,983
300
651
+1,894.3%
Dividends paid
920
954
702
-3.6%
Dividend per share
$1.04
$1.04
$1.00
0.0%
Diluted shares, weighted
874m
932m
945m
-6.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
19,766
21,164
20,447
-6.6%
Non-controlling interest
1,063
1,294
920
-17.9%
Redeemable equity
n/a
0.0
211
Debt
7,219
10,930
13,572
-34.0%
Other liabilities
14,239
15,409
16,734
-7.6%
Total liabilities and equity
42,287
48,797
51,884
-13.3%
Fixed assets
3,348
3,300
3,341
+1.5%
Goodwill
18,178
18,381
18,591
-1.1%
Intangible assets
5,632
6,187
6,741
-9.0%
Cash and equivalents
2,805
185
301
+1,416.2%
Receivables
5,770
5,622
6,666
+2.6%
Inventory
1,814
1,819
3,209
-0.3%
Other assets
4,740
13,303
13,035
-64.4%
Total assets
42,287
48,797
51,884
-13.3%
10-K for the year ended 30 September 2019, filed 21 November 2019: the filing.