Materion (MTRN) FY2020 results: revenue $1.2 billion, down 0.8% on the year
Materion Corp. (MTRN) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, down 0.8% on the year before. Net income was $15 million, down 71.0%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$1.2 billion
-0.8% on the year
FY2013FY2020
Operating margin
0.7%
6.0% a year earlier
FY2013FY2020
Net income
$15 million
-71.0% on the year
FY2013FY2020
Diluted EPS
$0.75
-71.0% 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
1,176
1,185
1,208
-0.8%
Cost of revenue
984
923
957
+6.6%
Gross profit
193
263
251
-26.7%
Gross margin
16.4%
22.2%
20.8%
Research and development
20.3
18.3
15.2
+11.0%
Selling, general and administrative
134
147
153
-9.0%
Operating income
8.2
70.5
61.8
-88.4%
Operating margin
0.7%
6.0%
5.1%
Pre-tax income
8.3
65.5
16.6
-87.4%
Income tax
-7.2
12.1
-4.4
Effective tax rate
-86.9%
18.5%
-26.8%
Net income
15.5
53.4
21.0
-71.0%
Net margin
1.3%
4.5%
1.7%
Diluted EPS
$0.75
$2.59
$1.02
-71.0%
$ 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
101
99.2
76.4
+1.8%
Capital expenditure
67.3
24.3
27.7
+177.4%
Free cash flow
33.8
75.0
48.7
-54.9%
Free cash flow margin
2.9%
6.3%
4.0%
Cash from investing
-195
-26.5
-33.8
Cash from financing
-7.1
-18.1
-13.6
Depreciation and amortisation
42.4
41.1
35.5
+3.1%
Share-based compensation
5.5
7.2
5.3
-22.9%
Buybacks
6.8
0.2
0.4
+3,300.0%
Dividends paid
9.3
8.9
8.4
+4.5%
Dividend per share
$0.46
$0.43
$0.41
+4.6%
Diluted shares, weighted
21m
21m
21m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
656
646
586
+1.5%
Short-term borrowings
n/a
n/a
0.8
Debt
38.5
2.2
3.0
+1,634.9%
Operating lease liabilities
56.8
18.1
0.0
+213.8%
Finance lease liabilities
20.5
17.4
15.2
+17.9%
Other liabilities
286
215
238
+33.3%
Total liabilities and equity
1,058
898
843
+17.7%
Fixed assets
310
232
251
+33.3%
Goodwill
145
79.0
90.7
+83.4%
Intangible assets
54.7
6.4
6.5
+756.9%
Cash and equivalents
25.9
125
70.6
-79.3%
Receivables
166
155
131
+7.6%
Inventory
251
236
215
+6.1%
Other assets
105
64.8
79.1
+62.9%
Total assets
1,058
898
843
+17.7%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.