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MKS (MKSI) Q4 FY2021 earnings: revenue $764 million, up 15.7% on the year

MKS Inc. (MKSI) reported revenue of $764 million for Q4 FY2021, the quarter ended 31 December 2021, up 15.7% on the same quarter a year earlier. Net income was $150 million, up 29.9% on the year, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue
$764 million
+15.7% on the year · +3.0% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
23.7%
22.2% a year earlier
Q1 FY2020Q4 FY2021
Net income
$150 million
+29.9% on the year · +13.8% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$2.69
+29.3% on the year · +13.0% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue764742660+3.0%+15.7%
Cost of revenue409n/an/a
Gross profit354n/an/a
Gross margin46.4%n/an/a
Research and development51.1n/an/a
Selling, general and administrative96.2n/an/a
Operating income181175147+3.5%+23.7%
Operating margin23.7%23.6%22.2%
Interest expense6.3n/an/a
Pre-tax income179n/an/a
Income tax28.0n/an/a
Effective tax rate15.7%n/an/a
Net income150132116+13.8%+29.9%
Net margin19.7%n/an/a
Diluted EPS$2.69$2.38$2.08+13.0%+29.3%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow194n/an/a
Capital expenditure23.4n/an/a
Free cash flow171n/an/a
Free cash flow margin22.4%n/an/a
Cash from investing147n/an/a
Cash from financing-3.4n/an/a
Depreciation and amortisation28.027.423.4+2.2%+19.7%
Share-based compensation9.0n/an/a
Dividends paid12.1n/an/a
Dividend per share$0.22n/an/a
Diluted shares, weighted56m56mn/a0.0%
Shares outstanding at period end56m56m55m0.0%+0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity2,8872,7292,361+5.8%+22.3%
Debt817819830-0.2%-1.5%
Operating lease liabilities193n/an/a
Other liabilities644n/an/a
Total liabilities and equity4,540n/an/a
Fixed assets325n/an/a
Goodwill1,228n/an/a
Intangible assets576n/an/a
Investments82.6n/an/a
Cash and equivalents966633608+52.6%+58.9%
Receivables443n/an/a
Inventory577n/an/a
Other assets343n/an/a
Total assets4,540n/an/a

Questions

What was MKS's revenue in Q4 FY2021?

MKS (MKSI) reported revenue of $764 million for Q4 FY2021, the quarter ended 31 December 2021, up 15.7% on the same quarter a year earlier.

How much did MKS earn in Q4 FY2021?

Net income for Q4 FY2021 was $150 million, up 29.9% on the year, and diluted earnings per share $2.69.

When did MKS report Q4 FY2021 results?

MKS filed its 10-K for the year that ended with the quarter on 28 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 * †Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue7647427659541,0867941,0039328938688878969359369739881,0341,0781,2481,413
Cost of revenue409408427564601459533506482453468464493492520527555571653739
Gross profit354334338390485335470426411415419432442444453461479507595674
Gross margin46%45%44%41%45%42%47%46%46%48%47%48%47%47%47%47%46%47%48%48%
R&D51.152.053.063.073.072.075.071.070.070.066.070.065.070.076.076.077.081.076.080.0
SG&A96.292.0101126169174172167162170161167176185175180184190200201
Operating income1811721641181631.0-1,69611823.0106127128137111135138144149251326
Operating margin24%23%21%12%15%0%-169%13%3%12%14%14%15%12%14%14%14%14%20%23%
Interest expense6.36.07.080.084.085.088.093.090.087.079.064.054.053.055.053.051.045.038.038.0
Pre-tax income17917115640.066.0-79.0-1,79122.0-80.019.022.060.079.059.072.084.089.0102213287
Tax rate16%16%17%85%18%n/an/a-77%n/a21%-5%-3%-14%12%14%12%-20%18%18%18%
Net income1501431306.054.0-42.0-1,76939.0-69.015.023.062.090.052.062.074.010784.0175236
Net margin20%19%17%1%5%-5%-176%4%-8%2%3%7%10%6%6%7%10%8%14%17%
Diluted EPS$2.69$2.57$2.32$0.09$0.81-$0.64-$26.47$0.58-$1.02$0.22$0.33$0.92$1.33$0.77$0.92$1.10$1.58$1.18$2.41$3.26
Operating cash flow19441.010519918437.0-59.016018167.012216317614116519714253.0243292
Capital expenditure23.419.064.026.055.017.018.018.034.018.027.022.051.018.029.051.050.025.054.049.0
Free cash flow17122.041.017312920.0-77.014214749.095.014112512313614692.028.0189243
Buybacksn/an/an/an/an/an/an/an/an/a0.00.00.00.045.00.00.00.00.00.00.0
Dividends paid12.112.012.013.015.015.014.015.015.015.015.014.015.015.015.014.015.017.017.017.0
Shares outstanding56m56m56m66m67m67m67m67m67m67m67m67m67m67m67m67m67m67m68m68m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 28 February 2022: the filing.