National Fuel Gas (NFG) FY2020 results: revenue $1.5 billion, down 8.7% on the year
National Fuel Gas Co. (NFG) reported revenue of $1.5 billion for fiscal 2020, the year ended 30 September 2020, down 8.7% on the year before. Net income was -$124 million, and diluted earnings per share $-1.41. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2020.
Revenue
$1.5 billion
-8.7% on the year
FY2010FY2020
Operating margin
1.9%
30.2% a year earlier
FY2010FY2020
Net income
-$124 million
FY2010FY2020
Diluted EPS
-$1.41
FY2010FY2020
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
1,546
1,693
1,593
-8.7%
Cost of revenue
234
386
338
-39.4%
Gross profit
1,312
1,307
1,255
+0.4%
Gross margin
84.9%
77.2%
78.8%
Operating income
29.9
512
520
-94.2%
Operating margin
1.9%
30.2%
32.6%
Interest expense
117
107
115
+9.7%
Pre-tax income
-105
390
384
Income tax
18.7
85.2
-7.5
-78.0%
Effective tax rate
n/a
21.9%
-2.0%
Net income
-124
304
392
Net margin
-8.0%
18.0%
24.6%
Diluted EPS
-$1.41
$3.51
$4.53
$ 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
741
694
615
+6.7%
Capital expenditure
716
789
584
-9.2%
Free cash flow
24.7
-94.5
31.3
Free cash flow margin
1.6%
-5.6%
2.0%
Cash from investing
-1,224
-799
-529
Cash from financing
476
-101
-411
Depreciation and amortisation
306
276
241
+11.1%
Share-based compensation
14.9
21.2
15.8
-29.5%
Dividends paid
153
147
143
+4.0%
Dividend per share
$1.76
$1.72
$1.68
+2.3%
Diluted shares, weighted
88m
87m
86m
+1.4%
Shares outstanding at period end
91m
86m
86m
+5.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,972
2,139
1,937
-7.8%
Short-term borrowings
n/a
n/a
0.0
Debt
2,660
2,189
2,131
+21.5%
Operating lease liabilities
14.8
n/a
n/a
Other liabilities
2,319
2,134
1,968
+8.6%
Total liabilities and equity
6,965
6,462
6,036
+7.8%
Fixed assets
5,998
5,510
4,977
+8.9%
Goodwill
5.5
5.5
5.5
0.0%
Cash and equivalents
20.5
20.4
230
+0.6%
Receivables
144
140
141
+2.6%
Other assets
797
787
683
+1.3%
Total assets
6,965
6,462
6,036
+7.8%
10-K for the year ended 30 September 2020, filed 20 November 2020: the filing.