MKS (MKSI) FY2020 results: revenue $2.3 billion, up 22.6% on the year
MKS Inc. (MKSI) reported revenue of $2.3 billion for fiscal 2020, the year ended 31 December 2020, up 22.6% on the year before. Net income was $350 million, up 149.4%, and diluted earnings per share $6.33. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$2.3 billion
+22.6% on the year
FY2013FY2020
Operating margin
19.5%
11.6% a year earlier
FY2013FY2020
Net income
$350 million
+149.4% on the year
FY2013FY2020
Diluted EPS
$6.33
+148.2% 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
2,330
1,900
2,075
+22.6%
Cost of revenue
1,280
1,069
1,096
+19.7%
Gross profit
1,050
830
979
+26.4%
Gross margin
45.0%
43.7%
47.2%
Research and development
173
164
136
+5.5%
Selling, general and administrative
353
330
298
+6.9%
Operating income
454
220
494
+106.4%
Operating margin
19.5%
11.6%
23.8%
Interest expense
29.0
44.1
16.9
-34.3%
Pre-tax income
423
178
481
+137.9%
Income tax
72.9
37.5
88.1
+94.7%
Effective tax rate
17.2%
21.1%
18.3%
Net income
350
140
393
+149.4%
Net margin
15.0%
7.4%
18.9%
Diluted EPS
$6.33
$2.55
$7.14
+148.2%
$ 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
513
245
414
+109.9%
Capital expenditure
84.9
63.9
62.9
+32.9%
Free cash flow
428
181
351
+137.1%
Free cash flow margin
18.4%
9.5%
16.9%
Cash from investing
-202
-947
72.8
Cash from financing
-122
476
-178
Depreciation and amortisation
99.0
110
79.9
-10.0%
Share-based compensation
30.0
49.2
27.3
-39.0%
Buybacks
n/a
n/a
75.0
Dividends paid
44.0
43.5
42.4
+1.1%
Dividend per share
$0.80
$0.80
$0.78
0.0%
Diluted shares, weighted
55m
55m
55m
+0.3%
Shares outstanding at period end
55m
55m
54m
+1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,361
2,023
1,873
+16.7%
Debt
830
884
348
-6.1%
Operating lease liabilities
187
44.8
n/a
+318.7%
Other liabilities
526
464
393
+13.3%
Total liabilities and equity
3,904
3,416
2,614
+14.3%
Fixed assets
284
242
194
+17.5%
Goodwill
1,066
1,058
587
+0.8%
Intangible assets
512
565
320
-9.3%
Investments
234
115
84.1
+103.3%
Cash and equivalents
608
415
644
+46.7%
Receivables
393
341
295
+15.1%
Inventory
501
462
385
+8.5%
Other assets
304
218
104
+39.4%
Total assets
3,904
3,416
2,614
+14.3%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.