Kennametal (KMT) FY2021 results: revenue $1.8 billion, down 2.3% on the year
Kennametal Inc. (KMT) reported revenue of $1.8 billion for fiscal 2021, the year ended 30 June 2021, down 2.3% on the year before. Net income was $54 million, and diluted earnings per share $0.65. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2021.
Revenue
$1.8 billion
-2.3% on the year
FY2014FY2021
Operating margin
5.5%
1.2% a year earlier
FY2014FY2021
Net income
$54 million
FY2014FY2021
Diluted EPS
$0.65
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
1,841
1,885
2,375
-2.3%
Cost of revenue
1,289
1,356
1,544
-4.9%
Gross profit
552
529
831
+4.3%
Gross margin
30.0%
28.1%
35.0%
Research and development
39.5
38.7
39.0
+2.1%
Operating income
102
22.3
329
+359.1%
Operating margin
5.5%
1.2%
13.8%
Interest expense
46.4
35.2
33.0
+31.9%
Pre-tax income
64.7
2.0
311
+3,199.0%
Income tax
6.2
7.0
63.4
-10.9%
Effective tax rate
9.7%
357.5%
20.4%
Net income
54.4
-5.7
242
Net margin
3.0%
-0.3%
10.2%
Diluted EPS
$0.65
-$0.07
$2.90
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
236
224
301
+5.3%
Capital expenditure
127
244
212
-47.9%
Free cash flow
108
-20.4
88.2
Free cash flow margin
5.9%
-1.1%
3.7%
Cash from investing
-123
-218
-201
Cash from financing
-574
425
-471
Depreciation and amortisation
126
120
112
+5.5%
Share-based compensation
24.8
16.0
22.8
+54.5%
Buybacks
0.2
0.2
0.2
-5.7%
Dividends paid
66.7
66.3
65.7
+0.7%
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
84m
83m
83m
+1.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,330
1,230
1,335
+8.1%
Non-controlling interest
38.6
38.9
39.5
-0.8%
Debt
600
594
592
+1.1%
Operating lease liabilities
36.8
35.4
0.0
+4.0%
Other liabilities
660
1,139
689
-42.0%
Total liabilities and equity
2,666
3,038
2,656
-12.2%
Fixed assets
1,055
1,038
935
+1.6%
Goodwill
278
271
300
+2.6%
Intangible assets
120
133
161
-9.4%
Cash and equivalents
154
607
182
-74.6%
Receivables
303
238
380
+27.3%
Inventory
476
522
572
-8.8%
Other assets
280
229
127
+22.1%
Total assets
2,666
3,038
2,656
-12.2%
10-K for the year ended 30 June 2021, filed 10 August 2021: the filing.