Ingevity (NGVT) FY2020 results: revenue $1.2 billion, down 5.9% on the year
Ingevity Corp. (NGVT) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, down 5.9% on the year before. Net income was $181 million, down 1.3%, and diluted earnings per share $4.37. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$1.2 billion
-5.9% on the year
FY2014FY2020
Operating margin
32.7%
30.7% a year earlier
FY2014FY2020
Net income
$181 million
-1.3% on the year
FY2014FY2020
Diluted EPS
$4.37
+0.5% on the year
FY2014FY2020
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
1,216
1,293
1,134
-5.9%
Cost of revenue
751
811
717
-7.4%
Gross profit
466
482
417
-3.4%
Gross margin
38.3%
37.3%
36.8%
Research and development
22.6
19.7
21.5
+14.7%
Selling, general and administrative
149
163
132
-8.4%
Operating income
398
397
320
+0.3%
Operating margin
32.7%
30.7%
28.3%
Interest expense
47.1
54.6
33.2
-13.7%
Pre-tax income
235
228
222
+3.2%
Income tax
53.7
44.2
40.0
+21.5%
Effective tax rate
22.8%
19.4%
18.0%
Net income
181
184
169
-1.3%
Net margin
14.9%
14.2%
14.9%
Diluted EPS
$4.37
$4.35
$3.97
+0.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
352
276
252
+27.8%
Capital expenditure
82.1
115
93.9
-28.5%
Free cash flow
270
161
158
+68.0%
Free cash flow margin
22.2%
12.4%
13.9%
Cash from investing
-111
-658
-414
Cash from financing
-50.2
369
154
Depreciation and amortisation
100
85.0
57.0
+17.9%
Share-based compensation
8.4
12.3
12.5
-31.7%
Buybacks
88.0
6.4
47.4
+1,275.0%
Diluted shares, weighted
42m
42m
43m
-1.5%
Shares outstanding at period end
41m
42m
42m
-3.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
642
531
339
+21.0%
Non-controlling interest
n/a
n/a
0.0
Debt
1,306
1,258
759
+3.9%
Operating lease liabilities
34.7
36.7
0.0
-5.4%
Finance lease liabilities
102
80.0
n/a
+28.0%
Other liabilities
249
236
218
+5.2%
Total liabilities and equity
2,334
2,142
1,315
+9.0%
Fixed assets
704
665
524
+5.9%
Goodwill
445
436
131
+2.0%
Intangible assets
373
396
126
-5.8%
Investments
0.0
n/a
n/a
Cash and equivalents
258
56.5
77.5
+356.1%
Receivables
148
150
119
-1.3%
Inventory
189
212
191
-11.1%
Other assets
218
225
147
-3.5%
Total assets
2,334
2,142
1,315
+9.0%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.