Neurocrine Biosciences (NBIX) FY2019 results: revenue $788 million, up 74.6% on the year
Neurocrine Biosciences Inc. (NBIX) reported revenue of $788 million for fiscal 2019, the year ended 31 December 2019, up 74.6% on the year before. Net income was $37 million, up 75.3%, and diluted earnings per share $0.39. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2020.
Revenue
$788 million
+74.6% on the year
FY2012FY2019
Operating margin
9.2%
8.2% a year earlier
FY2012FY2019
Net income
$37 million
+75.3% on the year
FY2012FY2019
Diluted EPS
$0.39
+77.3% 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
788
451
162
+74.6%
Cost of revenue
n/a
4.9
1.3
Gross profit
n/a
446
160
Gross margin
n/a
98.9%
99.2%
Research and development
n/a
161
122
Selling, general and administrative
354
249
170
+42.2%
Operating income
72.3
36.8
-131
+96.4%
Operating margin
9.2%
8.2%
-81.3%
Interest expense
32.0
30.5
19.5
+4.7%
Pre-tax income
46.5
21.8
-143
+113.1%
Income tax
9.5
0.7
0.0
+1,257.1%
Effective tax rate
20.4%
3.2%
n/a
Net income
37.0
21.1
-143
+75.3%
Net margin
4.7%
4.7%
-88.2%
Diluted EPS
$0.39
$0.22
-$1.62
+77.3%
$ 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
147
101
-94.3
+45.0%
Capital expenditure
14.7
24.8
6.9
-40.8%
Free cash flow
132
76.6
-101
+72.8%
Free cash flow margin
16.8%
17.0%
-62.7%
Cash from investing
-211
-243
-251
Cash from financing
32.4
29.5
517
+9.7%
Depreciation and amortisation
n/a
4.0
2.4
Share-based compensation
75.3
58.1
42.5
+29.6%
Diluted shares, weighted
96m
95m
88m
+0.4%
Shares outstanding at period end
92m
91m
89m
+1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
637
481
372
+32.5%
Debt
409
388
370
+5.2%
Operating lease liabilities
86.8
0.0
n/a
Other liabilities
174
124
75.8
+40.1%
Total liabilities and equity
1,306
993
818
+31.5%
Fixed assets
41.9
33.9
10.8
+23.8%
Investments
858
725
509
+18.3%
Cash and equivalents
112
142
255
-20.8%
Receivables
127
57.4
31.1
+120.5%
Inventory
17.3
10.9
1.0
+59.1%
Other assets
150
24.1
11.3
+523.5%
Total assets
1,306
993
818
+31.5%
10-K for the year ended 31 December 2019, filed 7 February 2020: the filing.