MDU Resources Group (MDU) FY2020 results: revenue $5.5 billion, up 3.7% on the year
MDU Resources Group Inc. (MDU) reported revenue of $5.5 billion for fiscal 2020, the year ended 31 December 2020, up 3.7% on the year before. Net income was $390 million, up 16.3%, and diluted earnings per share $1.95. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$5.5 billion
+3.7% on the year
FY2013FY2020
Operating margin
9.8%
9.0% a year earlier
FY2013FY2020
Net income
$390 million
+16.3% on the year
FY2013FY2020
Diluted EPS
$1.95
+15.4% 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
5,533
5,337
4,532
+3.7%
Selling, general and administrative
4,028
3,895
3,256
+3.4%
Operating income
545
481
402
+13.2%
Operating margin
9.8%
9.0%
8.9%
Interest expense
96.5
98.6
84.6
-2.1%
Pre-tax income
475
398
317
+19.2%
Income tax
84.6
63.3
47.5
+33.7%
Effective tax rate
17.8%
15.9%
15.0%
Net income
390
335
272
+16.3%
Net margin
7.1%
6.3%
6.0%
Diluted EPS
$1.95
$1.69
$1.39
+15.4%
$ 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
768
542
500
+41.7%
Capital expenditure
558
576
568
-3.1%
Free cash flow
210
-33.8
-68.3
Free cash flow margin
3.8%
-0.6%
-1.5%
Cash from investing
-630
-604
-711
Cash from financing
-145
74.1
230
Depreciation and amortisation
285
256
220
+11.4%
Share-based compensation
13.1
7.4
n/a
+78.1%
Buybacks
0.0
0.0
5.0
Dividends paid
166
160
155
+3.8%
Dividend per share
$0.83
$0.81
$0.80
+2.5%
Diluted shares, weighted
201m
199m
196m
+1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,079
2,847
2,567
+8.1%
Short-term borrowings
n/a
0.0
0.0
Debt
2,263
2,243
2,109
+0.9%
Operating lease liabilities
86.9
83.7
0.0
+3.7%
Other liabilities
2,624
2,509
2,313
+4.6%
Total liabilities and equity
8,053
7,683
6,988
+4.8%
Fixed assets
5,167
4,917
4,579
+5.1%
Goodwill
715
681
665
+4.9%
Intangible assets
25.5
15.2
10.8
+67.2%
Investments
165
149
139
+11.0%
Cash and equivalents
59.5
66.5
53.9
-10.4%
Receivables
874
837
723
+4.5%
Inventory
291
278
287
+4.6%
Other assets
756
739
531
+2.3%
Total assets
8,053
7,683
6,988
+4.8%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.