NXP Semiconductors (NXPI) FY2019 results: revenue $8.9 billion, down 5.6% on the year
NXP Semiconductors N.V. (NXPI) reported revenue of $8.9 billion for fiscal 2019, the year ended 31 December 2019, down 5.6% on the year before. Net income was $243 million, down 89.0%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$8.9 billion
-5.6% on the year
FY2012FY2019
Operating margin
7.2%
28.8% a year earlier
FY2012FY2019
Net income
$243 million
-89.0% on the year
FY2012FY2019
Diluted EPS
$0.85
-87.4% 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
8,877
9,407
9,256
-5.6%
Cost of revenue
4,259
4,556
4,637
-6.5%
Gross profit
4,618
4,851
4,619
-4.8%
Gross margin
52.0%
51.6%
49.9%
Research and development
1,643
1,700
1,554
-3.4%
Selling, general and administrative
924
993
1,090
-6.9%
Operating income
641
2,710
2,102
-76.3%
Operating margin
7.2%
28.8%
22.7%
Interest expense
370
273
310
+35.5%
Pre-tax income
291
2,375
1,736
-87.7%
Income tax
20.0
176
-483
-88.6%
Effective tax rate
6.9%
7.4%
-27.8%
Net income
243
2,208
2,215
-89.0%
Net margin
2.7%
23.5%
23.9%
Diluted EPS
$0.85
$6.72
$6.41
-87.4%
$ 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
2,373
4,369
2,447
-45.7%
Capital expenditure
526
611
552
-13.9%
Free cash flow
1,847
3,758
1,895
-50.9%
Free cash flow margin
20.8%
39.9%
20.5%
Cash from investing
-2,284
-522
2,072
Cash from financing
-1,831
-4,597
-2,886
Depreciation and amortisation
2,047
1,987
2,173
+3.0%
Share-based compensation
346
314
281
+10.2%
Buybacks
1,443
5,006
286
-71.2%
Dividends paid
319
74.0
0.0
+331.1%
Dividend per share
$1.25
$0.50
$0.00
+150.0%
Diluted shares, weighted
286m
329m
346m
-13.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,441
10,505
13,527
-10.1%
Non-controlling interest
214
185
189
+15.7%
Debt
7,400
7,354
5,814
+0.6%
Operating lease liabilities
176
n/a
n/a
Finance lease liabilities
23.0
n/a
n/a
Other liabilities
2,762
3,486
4,519
-20.8%
Total liabilities and equity
20,016
21,530
24,049
-7.0%
Fixed assets
2,448
2,436
2,295
+0.5%
Goodwill
9,949
8,857
8,866
+12.3%
Intangible assets
3,620
9,183
9,335
-60.6%
Cash and equivalents
1,045
2,789
3,547
-62.5%
Receivables
667
792
879
-15.8%
Inventory
1,192
1,279
1,236
-6.8%
Other assets
1,095
n/a
n/a
Total assets
20,016
21,530
24,049
-7.0%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.