Public Service Enterprise Group (PEG) FY2019 results: revenue $10.1 billion, up 3.9% on the year
Public Service Enterprise Group Inc. (PEG) reported revenue of $10.1 billion for fiscal 2019, the year ended 31 December 2019, up 3.9% on the year before. Net income was $1.7 billion, up 17.7%, and diluted earnings per share $3.33. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$10.1 billion
+3.9% on the year
FY2012FY2019
Operating margin
19.3%
23.7% a year earlier
FY2012FY2019
Net income
$1.7 billion
+17.7% on the year
FY2012FY2019
Diluted EPS
$3.33
+17.7% 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
10,076
9,696
9,084
+3.9%
Cost of revenue
3,372
3,225
2,778
+4.6%
Gross profit
6,704
6,471
6,306
+3.6%
Gross margin
66.5%
66.7%
69.4%
Operating income
1,943
2,298
1,429
-15.4%
Operating margin
19.3%
23.7%
15.7%
Interest expense
569
476
391
+19.5%
Pre-tax income
1,950
1,855
1,268
+5.1%
Income tax
257
417
-306
-38.4%
Effective tax rate
13.2%
22.5%
-24.1%
Net income
1,693
1,438
1,574
+17.7%
Net margin
16.8%
14.8%
17.3%
Diluted EPS
$3.33
$2.83
$3.10
+17.7%
$ 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
3,379
2,913
3,261
+16.0%
Capital expenditure
3,166
3,912
4,190
-19.1%
Free cash flow
213
-999
-929
Free cash flow margin
2.1%
-10.3%
-10.2%
Cash from investing
-3,145
-3,916
-4,256
Cash from financing
-257
887
885
Depreciation and amortisation
n/a
1,158
1,986
Share-based compensation
33.0
30.0
31.0
+10.0%
Dividends paid
950
910
870
+4.4%
Dividend per share
$1.88
$1.80
$1.72
+4.4%
Diluted shares, weighted
507m
507m
507m
0.0%
Shares outstanding at period end
504m
504m
505m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
15,089
14,377
13,847
+5.0%
Debt
16,223
14,462
13,068
+12.2%
Operating lease liabilities
273
0.0
n/a
Other liabilities
16,145
16,487
15,801
-2.1%
Total liabilities and equity
47,730
45,326
42,716
+5.3%
Goodwill
0.0
16.0
16.0
Intangible assets
149
143
114
+4.2%
Investments
812
896
932
-9.4%
Cash and equivalents
147
177
313
-16.9%
Receivables
1,313
1,435
1,348
-8.5%
Other assets
45,309
42,659
39,993
+6.2%
Total assets
47,730
45,326
42,716
+5.3%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.