Performance Food Group (PFGC) FY2020 results: revenue $25.1 billion, up 27.1% on the year
Performance Food Group Co. (PFGC) reported revenue of $25.1 billion for fiscal 2020, the year ended 27 June 2020, up 27.1% on the year before. Net income was -$114 million, and diluted earnings per share $-1.01. The figures are the company's own, from the 10-K it filed with the SEC on 18 August 2020.
Revenue
$25.1 billion
+27.1% on the year
FY2014FY2020
Operating margin
-0.4%
1.4% a year earlier
FY2014FY2020
Net income
-$114 million
FY2014FY2020
Diluted EPS
-$1.01
FY2014FY2020
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
25,086
19,744
17,620
+27.1%
Cost of revenue
22,217
17,230
15,327
+28.9%
Gross profit
2,869
2,513
2,293
+14.2%
Gross margin
11.4%
12.7%
13.0%
Operating income
-99.0
283
254
Operating margin
-0.4%
1.4%
1.4%
Interest expense
117
65.4
60.4
+78.7%
Pre-tax income
-222
218
194
Income tax
-108
51.5
-5.1
Effective tax rate
n/a
23.6%
-2.6%
Net income
-114
167
199
Net margin
-0.5%
0.8%
1.1%
Diluted EPS
-$1.01
$1.59
$1.90
$ 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
624
317
367
+96.5%
Capital expenditure
158
139
140
+13.6%
Free cash flow
466
178
227
+161.1%
Free cash flow margin
1.9%
0.9%
1.3%
Cash from investing
-2,146
-349
-209
Cash from financing
1,929
39.6
-161
+4,770.7%
Depreciation and amortisation
276
155
130
+78.3%
Share-based compensation
17.9
15.7
21.6
+14.0%
Buybacks
5.0
9.3
n/a
-46.2%
Diluted shares, weighted
113m
105m
105m
+7.4%
Shares outstanding at period end
131m
104m
103m
+26.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,011
1,298
1,135
+54.9%
Debt
2,357
1,203
1,123
+95.9%
Operating lease liabilities
362
n/a
n/a
Finance lease liabilities
186
129
n/a
+44.1%
Other liabilities
2,804
2,024
1,743
+38.6%
Total liabilities and equity
7,720
4,654
4,001
+65.9%
Fixed assets
1,479
950
796
+55.6%
Goodwill
1,353
766
740
+76.7%
Intangible assets
919
194
194
+372.8%
Cash and equivalents
421
14.7
17.8
+2,761.9%
Receivables
1,259
1,227
1,066
+2.6%
Inventory
1,549
1,357
1,052
+14.2%
Other assets
740
144
136
+414.2%
Total assets
7,720
4,654
4,001
+65.9%
10-K for the year ended 27 June 2020, filed 18 August 2020: the filing.