Parker-Hannifin (PH) FY2020 results: revenue $13.7 billion, down 4.4% on the year
Parker-Hannifin Corp. (PH) reported revenue of $13.7 billion for fiscal 2020, the year ended 30 June 2020, down 4.4% on the year before. Net income was $1.2 billion, down 21.2%, and diluted earnings per share $9.26. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2020.
Revenue
$13.7 billion
-4.4% on the year
FY2013FY2020
Operating margin
14.4%
15.6% a year earlier
FY2013FY2020
Net income
$1.2 billion
-21.2% on the year
FY2013FY2020
Diluted EPS
$9.26
-20.0% 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
13,696
14,320
14,302
-4.4%
Cost of revenue
10,287
10,703
10,738
-3.9%
Gross profit
3,409
3,617
3,565
-5.7%
Gross margin
24.9%
25.3%
24.9%
Research and development
237
295
328
-19.6%
Selling, general and administrative
1,657
1,544
1,640
+7.3%
Operating income
1,967
2,236
2,038
-12.1%
Operating margin
14.4%
15.6%
14.3%
Interest expense
308
190
214
+62.1%
Pre-tax income
1,507
1,949
1,702
-22.7%
Income tax
305
424
641
-28.2%
Effective tax rate
20.2%
21.8%
37.7%
Net income
1,202
1,525
1,061
-21.2%
Net margin
8.8%
10.6%
7.4%
Diluted EPS
$9.26
$11.57
$7.83
-20.0%
$ 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
2,071
1,730
1,597
+19.7%
Capital expenditure
233
195
248
+19.2%
Free cash flow
1,838
1,535
1,349
+19.8%
Free cash flow margin
13.4%
10.7%
9.4%
Cash from investing
-5,024
-219
23.7
Cash from financing
449
902
-1,682
-50.2%
Depreciation and amortisation
538
431
459
+24.8%
Share-based compensation
111
104
119
+7.0%
Buybacks
216
860
381
-74.9%
Dividends paid
454
412
365
+10.0%
Dividend per share
$3.52
$3.16
$2.74
+11.4%
Diluted shares, weighted
130m
132m
135m
-1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,227
5,962
5,860
+4.4%
Non-controlling interest
14.5
6.2
5.6
+135.3%
Debt
8,462
7,108
4,957
+19.0%
Operating lease liabilities
96.4
n/a
n/a
Other liabilities
5,088
4,656
4,498
+9.3%
Total liabilities and equity
19,888
17,732
15,320
+12.2%
Fixed assets
2,293
1,768
1,856
+29.7%
Goodwill
7,870
5,454
5,504
+44.3%
Intangible assets
3,799
1,783
2,016
+113.0%
Investments
70.8
151
33.0
-53.1%
Cash and equivalents
686
3,220
822
-78.7%
Receivables
n/a
2,131
2,146
Inventory
1,964
1,678
1,621
+17.0%
Other assets
3,206
1,547
1,322
+107.2%
Total assets
19,888
17,732
15,320
+12.2%
10-K for the year ended 30 June 2020, filed 26 August 2020: the filing.