Parker-Hannifin (PH) FY2019 results: revenue $14.3 billion, up 0.1% on the year
Parker-Hannifin Corp. (PH) reported revenue of $14.3 billion for fiscal 2019, the year ended 30 June 2019, up 0.1% on the year before. Net income was $1.5 billion, up 43.7%, and diluted earnings per share $11.57. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2019.
Revenue
$14.3 billion
+0.1% on the year
FY2012FY2019
Operating margin
15.6%
14.3% a year earlier
FY2012FY2019
Net income
$1.5 billion
+43.7% on the year
FY2012FY2019
Diluted EPS
$11.57
+47.8% 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
14,320
14,302
12,029
+0.1%
Cost of revenue
10,703
10,738
9,119
-0.3%
Gross profit
3,617
3,565
2,840
+1.5%
Gross margin
25.3%
24.9%
23.6%
Research and development
295
328
337
-10.1%
Selling, general and administrative
1,544
1,640
1,413
-5.9%
Operating income
2,236
2,038
1,790
+9.7%
Operating margin
15.6%
14.3%
14.9%
Interest expense
190
214
162
-11.1%
Pre-tax income
1,949
1,702
1,329
+14.5%
Income tax
424
641
345
-33.8%
Effective tax rate
21.8%
37.7%
26.0%
Net income
1,525
1,061
983
+43.7%
Net margin
10.6%
7.4%
8.2%
Diluted EPS
$11.57
$7.83
$7.25
+47.8%
$ 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
1,730
1,597
1,302
+8.4%
Capital expenditure
195
248
204
-21.2%
Free cash flow
1,535
1,349
1,099
+13.8%
Free cash flow margin
10.7%
9.4%
9.1%
Cash from investing
-219
23.7
-3,365
Cash from financing
902
-1,682
1,783
Depreciation and amortisation
431
459
348
-6.2%
Share-based compensation
104
119
80.3
-12.4%
Buybacks
860
381
338
+125.7%
Dividends paid
412
365
345
+12.9%
Dividend per share
$3.16
$2.74
$2.58
+15.3%
Diluted shares, weighted
132m
135m
136m
-2.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,962
5,860
5,262
+1.7%
Non-controlling interest
6.2
5.6
5.7
+9.9%
Debt
7,108
4,957
5,870
+43.4%
Other liabilities
4,656
4,498
4,352
+3.5%
Total liabilities and equity
17,732
15,320
15,490
+15.7%
Fixed assets
1,768
1,856
1,937
-4.7%
Goodwill
5,454
5,504
5,587
-0.9%
Intangible assets
1,783
2,016
2,307
-11.5%
Investments
151
33.0
39.3
+357.4%
Cash and equivalents
3,220
822
885
+291.6%
Receivables
2,131
2,146
1,931
-0.7%
Inventory
1,678
1,621
1,549
+3.5%
Other assets
1,547
1,322
1,254
+17.0%
Total assets
17,732
15,320
15,490
+15.7%
10-K for the year ended 30 June 2019, filed 23 August 2019: the filing.