MKS (MKSI) FY2019 results: revenue $1.9 billion, down 8.4% on the year
MKS Inc. (MKSI) reported revenue of $1.9 billion for fiscal 2019, the year ended 31 December 2019, down 8.4% on the year before. Net income was $140 million, down 64.3%, and diluted earnings per share $2.55. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$1.9 billion
-8.4% on the year
FY2012FY2019
Operating margin
11.6%
23.8% a year earlier
FY2012FY2019
Net income
$140 million
-64.3% on the year
FY2012FY2019
Diluted EPS
$2.55
-64.3% 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
1,900
2,075
1,916
-8.4%
Cost of revenue
1,069
1,096
1,025
-2.4%
Gross profit
830
979
891
-15.2%
Gross margin
43.7%
47.2%
46.5%
Research and development
164
136
133
+20.9%
Selling, general and administrative
330
298
291
+10.8%
Operating income
220
494
407
-55.5%
Operating margin
11.6%
23.8%
21.2%
Interest expense
44.1
16.9
31.0
+161.2%
Pre-tax income
178
481
448
-63.0%
Income tax
37.5
88.1
108
-57.5%
Effective tax rate
21.1%
18.3%
24.2%
Net income
140
393
339
-64.3%
Net margin
7.4%
18.9%
17.7%
Diluted EPS
$2.55
$7.14
$6.16
-64.3%
$ 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
245
414
355
-40.9%
Capital expenditure
63.9
62.9
31.3
+1.5%
Free cash flow
181
351
324
-48.5%
Free cash flow margin
9.5%
16.9%
16.9%
Cash from investing
-947
72.8
22.6
Cash from financing
476
-178
-280
Depreciation and amortisation
110
79.9
82.6
+37.8%
Share-based compensation
49.2
27.3
24.4
+80.4%
Buybacks
n/a
75.0
n/a
Dividends paid
43.5
42.4
38.2
+2.6%
Dividend per share
$0.80
$0.78
$0.71
+2.6%
Diluted shares, weighted
55m
55m
55m
+0.2%
Shares outstanding at period end
55m
54m
54m
+1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,023
1,873
1,589
+8.0%
Debt
884
348
393
+154.1%
Operating lease liabilities
44.8
n/a
n/a
Other liabilities
464
393
432
+18.1%
Total liabilities and equity
3,416
2,614
2,414
+30.7%
Fixed assets
242
194
172
+24.4%
Goodwill
1,058
587
591
+80.3%
Intangible assets
565
320
366
+76.6%
Investments
115
84.1
220
+37.0%
Cash and equivalents
415
644
334
-35.7%
Receivables
341
295
300
+15.4%
Inventory
462
385
339
+20.1%
Other assets
218
104
91.5
+109.0%
Total assets
3,416
2,614
2,414
+30.7%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.