NRG Energy (NRG) FY2019 results: revenue $9.8 billion, up 3.6% on the year
NRG Energy, Inc. (NRG) reported revenue of $9.8 billion for fiscal 2019, the year ended 31 December 2019, up 3.6% on the year before. Net income was $4.4 billion, up 1556.0%, and diluted earnings per share $16.81. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$9.8 billion
+3.6% on the year
FY2012FY2019
Operating margin
13.1%
10.4% a year earlier
FY2012FY2019
Net income
$4.4 billion
+1,556.0% on the year
FY2012FY2019
Diluted EPS
$16.81
+1,832.2% 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
9,821
9,478
9,074
+3.6%
Cost of revenue
7,303
7,108
6,886
+2.7%
Gross profit
2,518
2,370
2,188
+6.2%
Gross margin
25.6%
25.0%
24.1%
Research and development
7.0
11.0
22.0
-36.4%
Selling, general and administrative
760
799
836
-4.9%
Operating income
1,290
982
-741
+31.4%
Operating margin
13.1%
10.4%
-8.2%
Interest expense
413
483
557
-14.5%
Pre-tax income
786
467
-1,389
+68.3%
Income tax
-3,334
7.0
-44.0
Effective tax rate
-424.2%
1.5%
n/a
Net income
4,438
268
-2,153
+1,556.0%
Net margin
45.2%
2.8%
-23.7%
Diluted EPS
$16.81
$0.87
-$6.79
+1,832.2%
$ 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
1,413
1,377
1,610
+2.6%
Capital expenditure
228
388
254
-41.2%
Free cash flow
1,185
989
1,356
+19.8%
Free cash flow margin
12.1%
10.4%
14.9%
Cash from investing
556
-205
-639
Cash from financing
-2,148
-1,526
-1,138
Depreciation and amortisation
373
421
596
-11.4%
Share-based compensation
20.0
25.0
35.0
-20.0%
Buybacks
1,440
1,250
0.0
+15.2%
Dividends paid
32.0
37.0
38.0
-13.5%
Dividend per share
$0.12
$0.12
$0.12
0.0%
Diluted shares, weighted
264m
308m
317m
-14.3%
Shares outstanding at period end
249m
284m
317m
-12.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,658
-1,234
1,968
Redeemable equity
n/a
0.0
0.0
Debt
6,042
6,691
9,494
-9.7%
Operating lease liabilities
483
0.0
n/a
Other liabilities
4,348
5,171
11,856
-15.9%
Total liabilities and equity
12,531
10,628
23,318
+17.9%
Fixed assets
2,593
3,048
5,974
-14.9%
Goodwill
579
573
539
+1.0%
Intangible assets
789
591
507
+33.5%
Securities held for sale or to maturity
20.0
39.0
n/a
-48.7%
Cash and equivalents
345
563
770
-38.7%
Receivables
1,025
1,024
900
+0.1%
Inventory
383
412
453
-7.0%
Other assets
6,797
4,378
14,175
+55.3%
Total assets
12,531
10,628
23,318
+17.9%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.