Phibro Animal Health (PAHC) FY2019 results: revenue $828 million, up 1.0% on the year
Phibro Animal Health Corp. (PAHC) reported revenue of $828 million for fiscal 2019, the year ended 30 June 2019, up 1.0% on the year before. Net income was $55 million, down 15.7%, and diluted earnings per share $1.35. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2020.
Revenue
$828 million
+1.0% on the year
FY2012FY2019
Operating margin
10.1%
12.1% a year earlier
FY2012FY2019
Net income
$55 million
-15.7% on the year
FY2012FY2019
Diluted EPS
$1.35
-16.1% 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
828
820
764
+1.0%
Cost of revenue
563
553
516
+1.9%
Gross profit
265
267
248
-0.8%
Gross margin
32.0%
32.5%
32.5%
Research and development
12.1
10.0
9.4
+20.9%
Selling, general and administrative
181
168
150
+8.0%
Operating income
83.2
98.9
97.9
-15.9%
Operating margin
10.1%
12.1%
12.8%
Interest expense
13.7
13.6
16.9
+0.5%
Pre-tax income
71.5
88.1
80.5
-18.8%
Income tax
16.8
23.2
15.9
-27.6%
Effective tax rate
23.5%
26.3%
19.8%
Net income
54.7
64.9
64.6
-15.7%
Net margin
6.6%
7.9%
8.5%
Diluted EPS
$1.35
$1.61
$1.61
-16.1%
$ 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
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
47.2
70.0
98.4
-32.6%
Capital expenditure
29.9
18.5
20.9
+61.2%
Free cash flow
17.3
51.5
77.5
-66.4%
Free cash flow margin
2.1%
6.3%
10.1%
Cash from investing
-14.1
-84.6
-21.9
Cash from financing
-4.1
-11.8
-53.7
Depreciation and amortisation
27.6
26.9
26.0
+2.3%
Share-based compensation
2.3
0.3
0.0
+576.3%
Dividends paid
18.6
16.1
15.8
+15.7%
Dividend per share
$0.46
$0.40
$0.40
+15.0%
Diluted shares, weighted
41m
40m
40m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
216
185
151
+16.8%
Debt
326
312
313
+4.4%
Other liabilities
184
174
159
+5.8%
Total liabilities and equity
727
672
623
+8.2%
Fixed assets
140
130
127
+7.8%
Goodwill
27.3
27.3
24.0
0.0%
Intangible assets
47.5
52.0
54.6
-8.7%
Investments
24.0
50.0
n/a
-52.0%
Cash and equivalents
57.6
29.2
56.1
+97.4%
Receivables
159
136
126
+17.2%
Inventory
198
178
161
+11.3%
Other assets
72.7
69.2
74.3
+5.1%
Total assets
727
672
623
+8.2%
10-K for the year ended 30 June 2019, filed 26 August 2020: the filing.