NXP Semiconductors (NXPI) FY2022 results: revenue $13.2 billion, up 19.4% on the year

NXP Semiconductors N.V. (NXPI) reported revenue of $13.2 billion for fiscal 2022, the year ended 31 December 2022, up 19.4% on the year before. Net income was $2.8 billion, up 49.0%, and diluted earnings per share $10.55. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.

Revenue

$13.2 billion

+19.4% on the year

FY2015FY2022

Operating margin

28.8%

23.3% a year earlier

FY2015FY2022

Net income

$2.8 billion

+49.0% on the year

FY2015FY2022

Diluted EPS

$10.55

+55.4% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	13,205	11,063	8,612	+19.4%
Cost of revenue	5,688	4,996	4,377	+13.9%
Gross profit	7,517	6,067	4,235	+23.9%
Gross margin	56.9%	54.8%	49.2%
Research and development	2,148	1,936	1,725	+11.0%
Selling, general and administrative	1,066	956	879	+11.5%
Operating income	3,797	2,583	418	+47.0%
Operating margin	28.8%	23.3%	4.9%
Interest expense	427	369	362	+15.7%
Pre-tax income	3,363	2,180	1.0	+54.3%
Income tax	529	272	-83.0	+94.5%
Effective tax rate	15.7%	12.5%	-8300.0%
Net income	2,787	1,871	52.0	+49.0%
Net margin	21.1%	16.9%	0.6%
Diluted EPS	$10.55	$6.79	$0.18	+55.4%

$ million except per share.

Free 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	3,895	3,077	2,482	+26.6%
Capital expenditure	1,063	767	392	+38.6%
Free cash flow	2,832	2,310	2,090	+22.6%
Free cash flow margin	21.4%	20.9%	24.3%
Cash from investing	-1,249	-934	-418
Cash from financing	-1,619	-1,585	-835
Depreciation and amortisation	1,250	1,262	1,988	-1.0%
Share-based compensation	364	353	384	+3.1%
Buybacks	1,426	4,015	627	-64.5%
Dividends paid	815	562	420	+45.0%
Dividend per share	$3.38	$2.25	$1.50	+50.2%
Diluted shares, weighted	264m	276m	284m	-4.2%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	7,449	6,528	8,944	+14.1%
Non-controlling interest	291	242	207	+20.2%
Debt	11,250	10,650	7,650	+5.6%
Operating lease liabilities	202	181	177	+11.6%
Other liabilities	4,044	3,263	2,869	+23.9%
Total liabilities and equity	23,236	20,864	19,847	+11.4%
Fixed assets	3,105	2,635	2,284	+17.8%
Goodwill	9,943	9,961	9,984	-0.2%
Intangible assets	1,311	1,694	2,242	-22.6%
Cash and equivalents	3,845	2,830	2,275	+35.9%
Receivables	960	923	765	+4.0%
Inventory	1,782	1,189	1,030	+49.9%
Other assets	2,290	1,632	1,267	+40.3%
Total assets	23,236	20,864	19,847	+11.4%

10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.