Public Service Enterprise Group (PEG) FY2020 results: revenue $9.6 billion, down 4.7% on the year
Public Service Enterprise Group Inc. (PEG) reported revenue of $9.6 billion for fiscal 2020, the year ended 31 December 2020, down 4.7% on the year before. Net income was $1.9 billion, up 12.5%, and diluted earnings per share $3.76. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$9.6 billion
-4.7% on the year
FY2013FY2020
Operating margin
23.6%
19.3% a year earlier
FY2013FY2020
Net income
$1.9 billion
+12.5% on the year
FY2013FY2020
Diluted EPS
$3.76
+12.9% 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
9,603
10,076
9,696
-4.7%
Cost of revenue
3,056
3,372
3,225
-9.4%
Gross profit
6,547
6,704
6,471
-2.3%
Gross margin
68.2%
66.5%
66.7%
Operating income
2,270
1,943
2,298
+16.8%
Operating margin
23.6%
19.3%
23.7%
Interest expense
600
569
476
+5.4%
Pre-tax income
2,301
1,950
1,855
+18.0%
Income tax
396
257
417
+54.1%
Effective tax rate
17.2%
13.2%
22.5%
Net income
1,905
1,693
1,438
+12.5%
Net margin
19.8%
16.8%
14.8%
Diluted EPS
$3.76
$3.33
$2.83
+12.9%
$ 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
3,102
3,379
2,913
-8.2%
Capital expenditure
2,923
3,166
3,912
-7.7%
Free cash flow
179
213
-999
-16.0%
Free cash flow margin
1.9%
2.1%
-10.3%
Cash from investing
-2,676
-3,145
-3,916
Cash from financing
-30.0
-257
887
Depreciation and amortisation
n/a
n/a
1,158
Share-based compensation
35.0
33.0
30.0
+6.1%
Buybacks
0.0
n/a
n/a
Dividends paid
991
950
910
+4.3%
Dividend per share
$1.96
$1.88
$1.80
+4.3%
Diluted shares, weighted
507m
507m
507m
0.0%
Shares outstanding at period end
504m
504m
504m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
15,984
15,089
14,377
+5.9%
Debt
17,243
16,223
14,462
+6.3%
Operating lease liabilities
252
273
0.0
-7.7%
Other liabilities
16,571
16,145
16,487
+2.6%
Total liabilities and equity
50,050
47,730
45,326
+4.9%
Goodwill
n/a
0.0
16.0
Intangible assets
158
149
143
+6.0%
Investments
536
812
896
-34.0%
Cash and equivalents
543
147
177
+269.4%
Receivables
1,410
1,313
1,435
+7.4%
Other assets
47,403
45,309
42,659
+4.6%
Total assets
50,050
47,730
45,326
+4.9%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.