Nordson (NDSN) FY2019 results: revenue $2.2 billion, down 2.7% on the year
Nordson Corp. (NDSN) reported revenue of $2.2 billion for fiscal 2019, the year ended 31 October 2019, down 2.7% on the year before. Net income was $337 million, down 10.7%, and diluted earnings per share $5.79. The figures are the company's own, from the 10-K it filed with the SEC on 13 December 2019.
Revenue
$2.2 billion
-2.7% on the year
FY2012FY2019
Operating margin
22.0%
22.3% a year earlier
FY2012FY2019
Net income
$337 million
-10.7% on the year
FY2012FY2019
Diluted EPS
$5.79
-9.5% 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
2,194
2,255
2,067
-2.7%
Cost of revenue
1,002
1,019
928
-1.6%
Gross profit
1,192
1,236
1,139
-3.5%
Gross margin
54.3%
54.8%
55.1%
Research and development
60.0
58.8
52.5
+2.1%
Selling, general and administrative
709
734
673
-3.4%
Operating income
483
503
466
-3.9%
Operating margin
22.0%
22.3%
22.6%
Interest expense
47.1
49.6
36.6
-4.9%
Pre-tax income
431
449
420
-3.9%
Income tax
94.0
71.1
124
+32.1%
Effective tax rate
21.8%
15.9%
29.6%
Net income
337
377
296
-10.7%
Net margin
15.4%
16.7%
14.3%
Diluted EPS
$5.79
$6.40
$5.08
-9.5%
$ 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
383
505
357
-24.1%
Capital expenditure
64.2
89.8
71.6
-28.5%
Free cash flow
319
415
285
-23.2%
Free cash flow margin
14.5%
18.4%
13.8%
Cash from investing
-76.3
-140
-878
Cash from financing
-251
-354
541
Depreciation and amortisation
110
108
90.9
+1.7%
Share-based compensation
18.1
21.6
20.2
-16.1%
Buybacks
121
24.0
3.2
+401.9%
Dividends paid
82.1
72.4
63.8
+13.4%
Dividend per share
$1.43
$1.25
$1.11
+14.4%
Diluted shares, weighted
58m
59m
58m
-1.2%
Shares outstanding at period end
58m
58m
58m
-0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,581
1,451
1,155
+9.0%
Debt
1,244
1,314
1,583
-5.3%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
9.5
n/a
n/a
Other liabilities
682
656
676
+3.9%
Total liabilities and equity
3,516
3,421
3,415
+2.8%
Fixed assets
399
387
346
+3.2%
Goodwill
1,615
1,608
1,589
+0.4%
Intangible assets
446
500
547
-10.8%
Cash and equivalents
151
95.7
90.4
+58.0%
Receivables
531
491
505
+8.0%
Inventory
283
264
264
+7.2%
Other assets
91.9
75.0
72.0
+22.5%
Total assets
3,516
3,421
3,415
+2.8%
10-K for the year ended 31 October 2019, filed 13 December 2019: the filing.