Murphy Oil (MUR) FY2020 results: revenue $2.0 billion, down 30.5% on the year
Murphy Oil Corp. (MUR) reported revenue of $2.0 billion for fiscal 2020, the year ended 31 December 2020, down 30.5% on the year before. Net income was -$1.1 billion, and diluted earnings per share $-7.48. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$2.0 billion
-30.5% on the year
FY2013FY2020
Operating margin
-69.2%
15.7% a year earlier
FY2013FY2020
Net income
-$1.1 billion
FY2013FY2020
Diluted EPS
-$7.48
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
1,967
2,829
1,791
-30.5%
Cost of revenue
0.0
n/a
n/a
Gross profit
1,967
n/a
n/a
Gross margin
100.0%
n/a
n/a
Selling, general and administrative
140
233
205
-39.7%
Operating income
-1,362
445
216
Operating margin
-69.2%
15.7%
12.0%
Interest expense
169
219
180
-22.7%
Pre-tax income
-1,549
203
43.0
Income tax
-294
14.7
-126
Effective tax rate
n/a
7.2%
-293.3%
Net income
-1,149
1,150
411
Net margin
-58.4%
40.6%
22.9%
Diluted EPS
-$7.48
$6.98
$2.36
$ 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
803
1,489
749
-46.1%
Capital expenditure
n/a
1,344
1,011
Free cash flow
n/a
145
-262
Free cash flow margin
n/a
5.1%
-14.6%
Cash from investing
-859
-2,536
-1,805
Cash from financing
39.7
-1,130
144
Depreciation and amortisation
987
1,148
776
-14.0%
Share-based compensation
24.8
50.2
34.5
-50.5%
Buybacks
0.0
500
0.0
Dividends paid
96.0
164
173
-41.4%
Dividend per share
$0.62
$1.00
$1.00
-37.5%
Diluted shares, weighted
154m
165m
174m
-6.9%
Shares outstanding at period end
154m
153m
173m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,214
5,467
4,829
-22.9%
Non-controlling interest
180
337
368
-46.7%
Debt
2,988
2,803
3,110
+6.6%
Operating lease liabilities
845
521
0.0
+62.1%
Other liabilities
2,394
2,589
2,745
-7.6%
Total liabilities and equity
10,621
11,719
11,053
-9.4%
Fixed assets
8,269
9,970
8,432
-17.1%
Cash and equivalents
311
307
360
+1.3%
Receivables
262
427
232
-38.6%
Inventory
66.1
76.1
80.0
-13.2%
Other assets
1,713
939
1,949
+82.4%
Total assets
10,621
11,719
11,053
-9.4%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.