LCI Industries (LCII) FY2020 results: revenue $2.8 billion, up 17.9% on the year
LCI Industries (LCII) reported revenue of $2.8 billion for fiscal 2020, the year ended 31 December 2020, up 17.9% on the year before. Net income was $158 million, up 8.1%, and diluted earnings per share $6.27. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$2.8 billion
+17.9% on the year
FY2013FY2020
Operating margin
8.0%
8.4% a year earlier
FY2013FY2020
Net income
$158 million
+8.1% on the year
FY2013FY2020
Diluted EPS
$6.27
+7.4% 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
2,796
2,371
2,476
+17.9%
Cost of revenue
2,090
1,832
1,955
+14.1%
Gross profit
706
539
520
+31.0%
Gross margin
25.3%
22.7%
21.0%
Selling, general and administrative
483
339
322
+42.5%
Operating income
223
200
199
+11.4%
Operating margin
8.0%
8.4%
8.0%
Pre-tax income
209
191
192
+9.4%
Income tax
51.0
44.9
43.8
+13.7%
Effective tax rate
24.4%
23.5%
22.8%
Net income
158
147
149
+8.1%
Net margin
5.7%
6.2%
6.0%
Diluted EPS
$6.27
$5.84
$5.83
+7.4%
$ 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
231
270
157
-14.1%
Capital expenditure
57.3
58.2
120
-1.5%
Free cash flow
174
211
36.8
-17.6%
Free cash flow margin
6.2%
8.9%
1.5%
Cash from investing
-232
-504
-303
Cash from financing
14.0
255
135
-94.5%
Depreciation and amortisation
98.0
75.4
67.5
+30.0%
Share-based compensation
18.5
16.1
14.1
+15.1%
Buybacks
0.0
0.0
28.7
Dividends paid
70.4
63.8
59.3
+10.3%
Dividend per share
$2.80
$2.55
$2.35
+9.8%
Diluted shares, weighted
25m
25m
25m
+0.6%
Shares outstanding at period end
25m
25m
n/a
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
908
801
706
+13.4%
Debt
738
631
294
+17.0%
Operating lease liabilities
82.7
79.8
0.0
+3.6%
Other liabilities
569
351
244
+61.9%
Total liabilities and equity
2,298
1,863
1,244
+23.4%
Fixed assets
387
366
323
+5.7%
Goodwill
455
351
180
+29.5%
Intangible assets
421
341
176
+23.3%
Cash and equivalents
51.8
35.4
14.9
+46.6%
Receivables
269
200
122
+34.3%
Inventory
494
394
341
+25.5%
Other assets
221
175
87.2
+26.3%
Total assets
2,298
1,863
1,244
+23.4%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.