Altria Group (MO) FY2019 results: revenue $25.1 billion, down 1.0% on the year
Altria Group, Inc. (MO) reported revenue of $25.1 billion for fiscal 2019, the year ended 31 December 2019, down 1.0% on the year before. Net income was -$1.3 billion, and diluted earnings per share $-0.70. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$25.1 billion
-1.0% on the year
FY2012FY2019
Operating margin
41.1%
35.9% a year earlier
FY2012FY2019
Net income
-$1.3 billion
FY2012FY2019
Diluted EPS
-$0.70
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
25,110
25,364
25,576
-1.0%
Cost of revenue
7,085
7,373
7,531
-3.9%
Gross profit
12,711
12,254
11,951
+3.7%
Gross margin
50.6%
48.3%
46.7%
Research and development
168
252
241
-33.3%
Operating income
10,326
9,115
9,593
+13.3%
Operating margin
41.1%
35.9%
37.5%
Interest expense
1,322
697
736
+89.7%
Pre-tax income
766
9,341
9,828
-91.8%
Income tax
2,064
2,374
-399
-13.1%
Effective tax rate
269.5%
25.4%
-4.1%
Net income
-1,293
6,963
10,222
Net margin
-5.1%
27.5%
40.0%
Diluted EPS
-$0.70
$3.68
$5.31
$ 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
7,837
8,391
4,901
-6.6%
Capital expenditure
246
238
199
+3.4%
Free cash flow
7,591
8,153
4,702
-6.9%
Free cash flow margin
30.2%
32.1%
18.4%
Cash from investing
-2,398
-12,988
-467
Cash from financing
-4,712
4,716
-7,771
Depreciation and amortisation
226
227
209
-0.4%
Buybacks
845
1,673
2,917
-49.5%
Dividends paid
6,069
5,415
4,807
+12.1%
Dividend per share
$3.28
$3.00
$2.54
+9.3%
Diluted shares, weighted
1,869m
1,888m
1,921m
-1.0%
Shares outstanding at period end
1,858m
1,874m
1,901m
-0.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,222
14,787
15,377
-57.9%
Non-controlling interest
97.0
2.0
3.0
+4,750.0%
Redeemable equity
38.0
39.0
38.0
-2.6%
Short-term borrowings
0.0
12,704
0.0
Debt
28,042
13,042
13,894
+115.0%
Other liabilities
14,872
14,885
13,890
-0.1%
Total liabilities and equity
49,271
55,459
43,202
-11.2%
Fixed assets
1,999
1,938
1,914
+3.1%
Goodwill
5,177
5,196
5,307
-0.4%
Intangible assets
12,687
12,279
12,400
+3.3%
Cash and equivalents
2,117
1,333
1,253
+58.8%
Receivables
152
142
142
+7.0%
Inventory
2,293
2,331
2,225
-1.6%
Other assets
24,846
32,240
19,961
-22.9%
Total assets
49,271
55,459
43,202
-11.2%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.