Kratos Defense & Security Solutions (KTOS) FY2020 results: revenue $748 million, up 4.2% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $748 million for fiscal 2020, the year ended 27 December 2020, up 4.2% on the year before. Net income was $80 million, up 536.8%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$748 million
+4.2% on the year
FY2013FY2020
Operating margin
3.9%
5.3% a year earlier
FY2013FY2020
Net income
$80 million
+536.8% on the year
FY2013FY2020
Diluted EPS
$0.67
+509.1% 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
748
718
618
+4.2%
Cost of revenue
544
528
448
+3.2%
Gross profit
203
190
170
+6.9%
Gross margin
27.2%
26.5%
27.5%
Research and development
27.0
18.0
15.6
+50.0%
Selling, general and administrative
144
131
120
+10.5%
Operating income
29.3
38.0
30.5
-22.9%
Operating margin
3.9%
5.3%
4.9%
Interest expense
23.6
23.5
21.6
+0.4%
Pre-tax income
6.8
15.7
8.7
-56.7%
Income tax
-73.5
4.8
4.6
Effective tax rate
-1080.9%
30.6%
52.9%
Net income
79.6
12.5
-3.5
+536.8%
Net margin
10.6%
1.7%
-0.6%
Diluted EPS
$0.67
$0.11
-$0.03
+509.1%
$ 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
46.6
30.0
10.4
+55.3%
Capital expenditure
35.9
26.3
22.6
+36.5%
Free cash flow
10.7
3.7
-12.2
+189.2%
Free cash flow margin
1.4%
0.5%
-2.0%
Cash from investing
-87.3
-43.7
40.5
Cash from financing
248
3.5
1.7
+6,977.1%
Depreciation and amortisation
24.6
23.4
17.9
+5.1%
Share-based compensation
21.0
11.0
7.2
+90.9%
Diluted shares, weighted
119m
109m
106m
+8.7%
Shares outstanding at period end
123m
107m
104m
+15.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
925
574
519
+61.2%
Redeemable equity
14.8
15.0
0.0
-1.3%
Debt
302
295
294
+2.2%
Operating lease liabilities
38.6
37.6
n/a
+2.7%
Finance lease liabilities
38.8
38.4
n/a
+1.0%
Other liabilities
244
226
197
+8.0%
Total liabilities and equity
1,563
1,186
1,010
+31.8%
Fixed assets
n/a
117
67.1
Goodwill
484
456
426
+6.2%
Intangible assets
43.0
39.5
16.1
+8.9%
Cash and equivalents
381
173
183
+120.6%
Receivables
95.3
85.0
64.6
+12.1%
Inventory
n/a
n/a
46.8
Other assets
560
316
207
+76.9%
Total assets
1,563
1,186
1,010
+31.8%
10-K for the year ended 27 December 2020, filed 25 February 2021: the filing.