Materion (MTRN) FY2019 results: revenue $1.2 billion, down 1.9% on the year
Materion Corp. (MTRN) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, down 1.9% on the year before. Net income was $53 million, up 153.7%, and diluted earnings per share $2.59. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$1.2 billion
-1.9% on the year
FY2012FY2019
Operating margin
6.0%
5.1% a year earlier
FY2012FY2019
Net income
$53 million
+153.7% on the year
FY2012FY2019
Diluted EPS
$2.59
+153.9% 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
1,185
1,208
1,139
-1.9%
Cost of revenue
923
957
927
-3.6%
Gross profit
263
251
213
+4.6%
Gross margin
22.2%
20.8%
18.7%
Research and development
18.3
15.2
14.0
+20.3%
Selling, general and administrative
147
153
144
-4.1%
Operating income
70.5
61.8
40.0
+14.2%
Operating margin
6.0%
5.1%
3.5%
Pre-tax income
65.5
16.6
36.4
+294.8%
Income tax
12.1
-4.4
24.9
Effective tax rate
18.5%
-26.8%
68.5%
Net income
53.4
21.0
11.5
+153.7%
Net margin
4.5%
1.7%
1.0%
Diluted EPS
$2.59
$1.02
$0.56
+153.9%
$ 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
99.2
76.4
67.8
+29.9%
Capital expenditure
24.3
27.7
27.5
-12.5%
Free cash flow
75.0
48.7
40.3
+54.0%
Free cash flow margin
6.3%
4.0%
3.5%
Cash from investing
-26.5
-33.8
-43.4
Cash from financing
-18.1
-13.6
-15.4
Depreciation and amortisation
41.1
35.5
42.8
+15.7%
Share-based compensation
7.2
5.3
5.0
+35.0%
Buybacks
0.2
0.4
1.1
-52.8%
Dividends paid
8.9
8.4
7.9
+5.6%
Dividend per share
$0.43
$0.41
$0.40
+4.8%
Diluted shares, weighted
21m
21m
20m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
646
586
527
+10.2%
Short-term borrowings
n/a
0.8
0.8
Debt
2.2
3.0
3.8
-27.1%
Operating lease liabilities
18.1
0.0
n/a
Finance lease liabilities
17.4
15.2
n/a
+14.5%
Other liabilities
215
238
259
-9.7%
Total liabilities and equity
898
843
791
+6.5%
Fixed assets
232
251
256
-7.5%
Goodwill
79.0
90.7
90.7
-12.8%
Intangible assets
6.4
6.5
9.8
-1.3%
Cash and equivalents
125
70.6
41.8
+77.0%
Receivables
155
131
124
+18.5%
Inventory
236
215
220
+10.0%
Other assets
64.8
79.1
48.8
-18.2%
Total assets
898
843
791
+6.5%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.