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NXP Semiconductors (NXPI) FY2024 results: revenue $12.6 billion, down 5.0% on the year

NXP Semiconductors N.V. (NXPI) reported revenue of $12.6 billion for fiscal 2024, the year ended 31 December 2024, down 5.0% on the year before. Net income was $2.5 billion, down 10.3%, and diluted earnings per share $9.73. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.

Revenue
$12.6 billion
-5.0% on the year
FY2017FY2024
Operating margin
27.1%
27.6% a year earlier
FY2017FY2024
Net income
$2.5 billion
-10.3% on the year
FY2017FY2024
Diluted EPS
$9.73
-9.1% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue12,61413,27613,205-5.0%
Cost of revenue5,4955,7235,688-4.0%
Gross profit7,1197,5537,517-5.7%
Gross margin56.4%56.9%56.9%
Research and development2,3472,4182,148-2.9%
Selling, general and administrative1,1641,1591,066+0.4%
Operating income3,4173,6613,797-6.7%
Operating margin27.1%27.6%28.8%
Interest expense398438427-9.1%
Pre-tax income3,0993,3523,363-7.5%
Income tax545523529+4.2%
Effective tax rate17.6%15.6%15.7%
Net income2,5102,7972,787-10.3%
Net margin19.9%21.1%21.1%
Diluted EPS$9.73$10.70$10.55-9.1%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow2,7823,5133,895-20.8%
Capital expenditure7278271,063-12.1%
Free cash flow2,0552,6862,832-23.5%
Free cash flow margin16.3%20.2%21.4%
Cash from investing-686-1,508-1,249
Cash from financing-2,662-1,990-1,619
Depreciation and amortisation9251,1061,250-16.4%
Share-based compensation461411364+12.2%
Buybacks1,3731,0531,426+30.4%
Dividends paid1,0381,006815+3.2%
Dividend per share$4.06$4.06$3.380.0%
Diluted shares, weighted258m261m264m-1.3%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity9,1838,6447,449+6.2%
Non-controlling interest348316291+10.1%
Debt10,85411,25011,250-3.5%
Operating lease liabilities223204202+9.3%
Other liabilities3,7773,9394,044-4.1%
Total liabilities and equity24,38524,35323,236+0.1%
Fixed assets3,2673,3233,105-1.7%
Goodwill9,9309,9559,943-0.3%
Intangible assets8369221,311-9.3%
Cash and equivalents3,2923,8623,845-14.8%
Receivables1,032894960+15.4%
Inventory2,3562,1341,782+10.4%
Other assets3,6723,2632,290+12.5%
Total assets24,38524,35323,236+0.1%

10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.