National Fuel Gas (NFG) FY2019 results: revenue $1.7 billion, up 6.3% on the year
National Fuel Gas Co. (NFG) reported revenue of $1.7 billion for fiscal 2019, the year ended 30 September 2019, up 6.3% on the year before. Net income was $304 million, down 22.3%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2019.
Revenue
$1.7 billion
+6.3% on the year
FY2010FY2019
Operating margin
30.2%
32.6% a year earlier
FY2010FY2019
Net income
$304 million
-22.3% on the year
FY2010FY2019
Diluted EPS
$3.51
-22.5% on the year
FY2010FY2019
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
1,693
1,593
1,580
+6.3%
Cost of revenue
386
338
n/a
+14.3%
Gross profit
1,307
1,255
n/a
+4.2%
Gross margin
77.2%
78.8%
n/a
Operating income
512
520
594
-1.5%
Operating margin
30.2%
32.6%
37.6%
Interest expense
107
115
120
-6.8%
Pre-tax income
390
384
444
+1.4%
Income tax
85.2
-7.5
161
Effective tax rate
21.9%
-2.0%
36.2%
Net income
304
392
283
-22.3%
Net margin
18.0%
24.6%
17.9%
Diluted EPS
$3.51
$4.53
$3.30
-22.5%
$ 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
694
615
685
+12.9%
Capital expenditure
789
584
450
+35.1%
Free cash flow
-94.5
31.3
234
Free cash flow margin
-5.6%
2.0%
14.8%
Cash from investing
-799
-529
-423
Cash from financing
-101
-411
164
Depreciation and amortisation
276
241
224
+14.4%
Share-based compensation
21.2
15.8
12.3
+34.4%
Dividends paid
147
143
139
+2.9%
Dividend per share
$1.72
$1.68
$1.64
+2.4%
Diluted shares, weighted
87m
86m
86m
+0.4%
Shares outstanding at period end
86m
86m
86m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,139
1,937
1,704
+10.4%
Short-term borrowings
n/a
0.0
0.0
Debt
2,189
2,131
2,384
+2.7%
Other liabilities
2,134
1,968
2,016
+8.5%
Total liabilities and equity
6,462
6,036
6,103
+7.1%
Fixed assets
5,510
4,977
4,674
+10.7%
Goodwill
5.5
5.5
5.5
0.0%
Cash and equivalents
20.4
230
556
-91.1%
Receivables
140
141
112
-1.1%
Other assets
787
683
756
+15.2%
Total assets
6,462
6,036
6,103
+7.1%
10-K for the year ended 30 September 2019, filed 15 November 2019: the filing.