Masco (MAS) FY2019 results: revenue $6.7 billion, up 0.8% on the year
Masco Corp. (MAS) reported revenue of $6.7 billion for fiscal 2019, the year ended 31 December 2019, up 0.8% on the year before. Net income was $935 million, up 27.4%, and diluted earnings per share $3.22. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2020.
Revenue
$6.7 billion
+0.8% on the year
FY2012FY2019
Operating margin
16.2%
16.2% a year earlier
FY2012FY2019
Net income
$935 million
+27.4% on the year
FY2012FY2019
Diluted EPS
$3.22
+35.9% 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
6,707
6,654
6,014
+0.8%
Cost of revenue
4,336
4,327
3,794
+0.2%
Gross profit
2,371
2,327
2,220
+1.9%
Gross margin
35.4%
35.0%
36.9%
Selling, general and administrative
1,274
1,250
1,191
+1.9%
Operating income
1,088
1,077
1,029
+1.0%
Operating margin
16.2%
16.2%
17.1%
Interest expense
159
156
279
+1.9%
Pre-tax income
914
907
718
+0.8%
Income tax
230
221
245
+4.1%
Effective tax rate
25.2%
24.4%
34.1%
Net income
935
734
533
+27.4%
Net margin
13.9%
11.0%
8.9%
Diluted EPS
$3.22
$2.37
$1.66
+35.9%
$ 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
833
1,032
751
-19.3%
Capital expenditure
162
219
173
-26.0%
Free cash flow
671
813
578
-17.5%
Free cash flow margin
10.0%
12.2%
9.6%
Cash from investing
582
-651
-25.0
Cash from financing
-1,291
-1,020
-577
Depreciation and amortisation
159
156
127
+1.9%
Share-based compensation
35.0
27.0
38.0
+29.6%
Buybacks
896
654
331
+37.0%
Dividends paid
144
134
129
+7.5%
Dividend per share
$0.51
$0.45
$0.41
+13.3%
Diluted shares, weighted
288m
307m
318m
-6.2%
Shares outstanding at period end
276m
294m
310m
-6.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-235
-111
-53.0
Non-controlling interest
179
180
236
-0.6%
Debt
2,773
2,979
3,085
-6.9%
Operating lease liabilities
162
n/a
n/a
Other liabilities
2,148
2,345
2,266
-8.4%
Total liabilities and equity
5,027
5,393
5,534
-6.8%
Fixed assets
878
885
1,129
-0.8%
Goodwill
509
511
453
-0.4%
Intangible assets
259
288
187
-10.1%
Investments
n/a
0.0
108
Cash and equivalents
697
552
1,194
+26.3%
Receivables
997
990
1,066
+0.7%
Inventory
754
798
784
-5.5%
Other assets
933
1,369
613
-31.8%
Total assets
5,027
5,393
5,534
-6.8%
10-K for the year ended 31 December 2019, filed 11 February 2020: the filing.