NRG Energy (NRG) FY2020 results: revenue $9.1 billion, down 7.4% on the year
NRG Energy, Inc. (NRG) reported revenue of $9.1 billion for fiscal 2020, the year ended 31 December 2020, down 7.4% on the year before. Net income was $510 million, down 88.5%, and diluted earnings per share $2.07. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$9.1 billion
-7.4% on the year
FY2013FY2020
Operating margin
12.2%
13.1% a year earlier
FY2013FY2020
Net income
$510 million
-88.5% on the year
FY2013FY2020
Diluted EPS
$2.07
-87.7% on the year
FY2013FY2020
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
9,093
9,821
9,478
-7.4%
Cost of revenue
6,540
7,303
7,108
-10.4%
Gross profit
2,553
2,518
2,370
+1.4%
Gross margin
28.1%
25.6%
25.0%
Research and development
8.0
7.0
11.0
+14.3%
Selling, general and administrative
810
760
799
+6.6%
Operating income
1,105
1,290
982
-14.3%
Operating margin
12.2%
13.1%
10.4%
Interest expense
401
413
483
-2.9%
Pre-tax income
761
786
467
-3.2%
Income tax
251
-3,334
7.0
Effective tax rate
33.0%
-424.2%
1.5%
Net income
510
4,438
268
-88.5%
Net margin
5.6%
45.2%
2.8%
Diluted EPS
$2.07
$16.81
$0.87
-87.7%
$ 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
1,837
1,413
1,377
+30.0%
Capital expenditure
230
228
388
+0.9%
Free cash flow
1,607
1,185
989
+35.6%
Free cash flow margin
17.7%
12.1%
10.4%
Cash from investing
-494
556
-205
Cash from financing
2,204
-2,148
-1,526
Depreciation and amortisation
435
373
421
+16.6%
Share-based compensation
22.0
20.0
25.0
+10.0%
Buybacks
229
1,440
1,250
-84.1%
Dividends paid
295
32.0
37.0
+821.9%
Dividend per share
$1.20
$0.12
$0.12
+900.0%
Diluted shares, weighted
246m
264m
308m
-6.8%
Shares outstanding at period end
244m
249m
284m
-1.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,680
1,658
-1,234
+1.3%
Redeemable equity
n/a
n/a
0.0
Debt
8,855
6,042
6,691
+46.6%
Operating lease liabilities
278
483
0.0
-42.4%
Other liabilities
4,089
4,348
5,171
-6.0%
Total liabilities and equity
14,902
12,531
10,628
+18.9%
Fixed assets
n/a
2,593
3,048
Goodwill
579
579
573
0.0%
Intangible assets
668
789
591
-15.3%
Securities held for sale or to maturity
25.0
20.0
39.0
+25.0%
Cash and equivalents
3,905
345
563
+1,031.9%
Receivables
904
1,025
1,024
-11.8%
Inventory
327
383
412
-14.6%
Other assets
8,494
6,797
4,378
+25.0%
Total assets
14,902
12,531
10,628
+18.9%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.