Kadant (KAI) FY2019 results: revenue $705 million, up 11.2% on the year
Kadant Inc. (KAI) reported revenue of $705 million for fiscal 2019, the year ended 28 December 2019, up 11.2% on the year before. Net income was $52 million, down 13.8%, and diluted earnings per share $4.54. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$705 million
+11.2% on the year
FY2012FY2019
Operating margin
12.5%
14.0% a year earlier
FY2012FY2019
Net income
$52 million
-13.8% on the year
FY2012FY2019
Diluted EPS
$4.54
-14.3% 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
705
634
515
+11.2%
Cost of revenue
411
356
284
+15.6%
Gross profit
294
278
231
+5.6%
Gross margin
41.7%
43.9%
44.9%
Research and development
10.9
10.6
9.6
+3.1%
Selling, general and administrative
193
177
160
+8.5%
Operating income
87.8
88.6
61.6
-0.9%
Operating margin
12.5%
14.0%
12.0%
Interest expense
12.8
7.0
3.5
+81.4%
Pre-tax income
68.9
79.5
57.7
-13.3%
Income tax
16.4
18.5
26.1
-11.5%
Effective tax rate
23.7%
23.2%
45.2%
Net income
52.1
60.4
31.1
-13.8%
Net margin
7.4%
9.5%
6.0%
Diluted EPS
$4.54
$5.30
$2.75
-14.3%
$ 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
97.4
63.0
65.2
+54.7%
Capital expenditure
10.0
16.6
17.3
-39.9%
Free cash flow
87.5
46.4
47.9
+88.4%
Free cash flow margin
12.4%
7.3%
9.3%
Cash from investing
-187
-16.4
-222
Cash from financing
112
-74.2
150
Depreciation and amortisation
32.4
23.6
19.4
+37.4%
Share-based compensation
6.8
7.0
5.8
-3.0%
Buybacks
n/a
n/a
0.0
Dividends paid
10.2
9.6
9.0
+5.7%
Dividend per share
$0.92
$0.88
$0.84
+4.5%
Diluted shares, weighted
11m
11m
11m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
426
373
331
+14.1%
Non-controlling interest
1.4
1.6
1.5
-13.7%
Debt
301
176
241
+71.2%
Operating lease liabilities
24.4
n/a
n/a
Finance lease liabilities
1.2
n/a
n/a
Other liabilities
186
175
187
+5.9%
Total liabilities and equity
939
726
761
+29.4%
Fixed assets
86.0
80.2
79.7
+7.3%
Goodwill
336
258
268
+30.2%
Intangible assets
174
113
133
+53.4%
Loans
0.9
0.7
0.5
+30.2%
Cash and equivalents
66.8
45.8
75.4
+45.7%
Receivables
95.7
92.6
89.6
+3.4%
Inventory
103
86.4
84.9
+18.9%
Other assets
77.3
48.6
29.9
+59.2%
Total assets
939
726
761
+29.4%
10-K for the year ended 28 December 2019, filed 25 February 2020: the filing.