Phibro Animal Health (PAHC) FY2020 results: revenue $800 million, down 3.3% on the year
Phibro Animal Health Corp. (PAHC) reported revenue of $800 million for fiscal 2020, the year ended 30 June 2020, down 3.3% on the year before. Net income was $34 million, down 38.7%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2020.
Revenue
$800 million
-3.3% on the year
FY2013FY2020
Operating margin
8.6%
10.1% a year earlier
FY2013FY2020
Net income
$34 million
-38.7% on the year
FY2013FY2020
Diluted EPS
$0.83
-38.5% 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
800
828
820
-3.3%
Cost of revenue
543
563
553
-3.5%
Gross profit
257
265
267
-2.9%
Gross margin
32.1%
32.0%
32.5%
Research and development
13.7
12.1
10.0
+13.7%
Selling, general and administrative
188
181
168
+3.5%
Operating income
69.2
83.2
98.9
-16.9%
Operating margin
8.6%
10.1%
12.1%
Interest expense
14.6
13.7
13.6
+6.8%
Pre-tax income
55.5
71.5
88.1
-22.4%
Income tax
22.0
16.8
23.2
+30.8%
Effective tax rate
39.6%
23.5%
26.3%
Net income
33.6
54.7
64.9
-38.7%
Net margin
4.2%
6.6%
7.9%
Diluted EPS
$0.83
$1.35
$1.61
-38.5%
$ 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
59.3
47.2
70.0
+25.8%
Capital expenditure
34.0
29.9
18.5
+13.9%
Free cash flow
25.3
17.3
51.5
+46.4%
Free cash flow margin
3.2%
2.1%
6.3%
Cash from investing
-120
-14.1
-84.6
Cash from financing
40.9
-4.1
-11.8
Depreciation and amortisation
32.3
27.6
26.9
+17.3%
Share-based compensation
2.3
2.3
0.3
0.0%
Dividends paid
19.4
18.6
16.1
+4.4%
Dividend per share
$0.48
$0.46
$0.40
+4.3%
Diluted shares, weighted
41m
41m
40m
-0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
188
216
185
-12.9%
Debt
387
326
312
+18.7%
Operating lease liabilities
17.3
n/a
n/a
Other liabilities
192
184
174
+3.9%
Total liabilities and equity
784
727
672
+7.9%
Fixed assets
148
140
130
+5.6%
Goodwill
52.7
27.3
27.3
+92.6%
Intangible assets
71.0
47.5
52.0
+49.5%
Investments
55.0
24.0
50.0
+129.2%
Cash and equivalents
36.3
57.6
29.2
-36.9%
Receivables
127
159
136
-20.4%
Inventory
197
198
178
-0.8%
Other assets
97.8
72.7
69.2
+34.5%
Total assets
784
727
672
+7.9%
10-K for the year ended 30 June 2020, filed 26 August 2020: the filing.