Kadant (KAI) FY2020 results: revenue $635 million, down 9.9% on the year
Kadant Inc. (KAI) reported revenue of $635 million for fiscal 2020, the year ended 2 January 2021, down 9.9% on the year before. Net income was $55 million, up 6.0%, and diluted earnings per share $4.77. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2021.
Revenue
$635 million
-9.9% on the year
FY2013FY2020
Operating margin
12.8%
12.5% a year earlier
FY2013FY2020
Net income
$55 million
+6.0% on the year
FY2013FY2020
Diluted EPS
$4.77
+5.1% 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
635
705
634
-9.9%
Cost of revenue
358
411
356
-12.9%
Gross profit
277
294
278
-5.6%
Gross margin
43.7%
41.7%
43.9%
Research and development
11.3
10.9
10.6
+3.8%
Selling, general and administrative
182
193
177
-5.5%
Operating income
81.1
87.8
88.6
-7.6%
Operating margin
12.8%
12.5%
14.0%
Interest expense
7.4
12.8
7.0
-41.8%
Pre-tax income
73.7
68.9
79.5
+6.9%
Income tax
17.9
16.4
18.5
+9.7%
Effective tax rate
24.4%
23.7%
23.2%
Net income
55.2
52.1
60.4
+6.0%
Net margin
8.7%
7.4%
9.5%
Diluted EPS
$4.77
$4.54
$5.30
+5.1%
$ 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
92.9
97.4
63.0
-4.6%
Capital expenditure
7.6
10.0
16.6
-23.7%
Free cash flow
85.3
87.5
46.4
-2.5%
Free cash flow margin
13.4%
12.4%
7.3%
Cash from investing
-14.5
-187
-16.4
Cash from financing
-84.6
112
-74.2
Depreciation and amortisation
31.3
32.4
23.6
-3.3%
Share-based compensation
6.8
6.8
7.0
-0.6%
Dividends paid
10.9
10.2
9.6
+6.9%
Dividend per share
$0.96
$0.92
$0.88
+4.3%
Diluted shares, weighted
12m
11m
11m
+0.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
495
426
373
+16.4%
Non-controlling interest
1.5
1.4
1.6
+11.7%
Debt
233
301
176
-22.4%
Operating lease liabilities
22.2
24.4
n/a
-9.1%
Finance lease liabilities
0.7
1.2
n/a
-39.9%
Other liabilities
174
186
175
-6.1%
Total liabilities and equity
928
939
726
-1.3%
Fixed assets
84.6
86.0
80.2
-1.6%
Goodwill
352
336
258
+4.7%
Intangible assets
161
174
113
-7.4%
Loans
1.2
0.9
0.7
+38.4%
Cash and equivalents
65.7
66.8
45.8
-1.7%
Receivables
91.5
95.7
92.6
-4.4%
Inventory
107
103
86.4
+4.0%
Other assets
64.9
77.3
48.6
-16.0%
Total assets
928
939
726
-1.3%
10-K for the year ended 2 January 2021, filed 2 March 2021: the filing.