Parker-Hannifin (PH) FY2021 results: revenue $14.3 billion, up 4.8% on the year
Parker-Hannifin Corp. (PH) reported revenue of $14.3 billion for fiscal 2021, the year ended 30 June 2021, up 4.8% on the year before. Net income was $1.7 billion, up 45.3%, and diluted earnings per share $13.35. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2021.
Revenue
$14.3 billion
+4.8% on the year
FY2014FY2021
Operating margin
17.1%
14.4% a year earlier
FY2014FY2021
Net income
$1.7 billion
+45.3% on the year
FY2014FY2021
Diluted EPS
$13.35
+44.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
14,348
13,696
14,320
+4.8%
Cost of revenue
9,605
10,287
10,703
-6.6%
Gross profit
4,743
3,409
3,617
+39.1%
Gross margin
33.1%
24.9%
25.3%
Research and development
205
237
295
-13.5%
Selling, general and administrative
2,383
1,657
1,544
+43.9%
Operating income
2,460
1,967
2,236
+25.1%
Operating margin
17.1%
14.4%
15.6%
Interest expense
250
308
190
-18.9%
Pre-tax income
2,247
1,507
1,949
+49.1%
Income tax
500
305
424
+64.2%
Effective tax rate
22.3%
20.2%
21.8%
Net income
1,746
1,202
1,525
+45.3%
Net margin
12.2%
8.8%
10.6%
Diluted EPS
$13.35
$9.26
$11.57
+44.2%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,575
2,071
1,730
+24.3%
Capital expenditure
210
233
195
-9.7%
Free cash flow
2,365
1,838
1,535
+28.6%
Free cash flow margin
16.5%
13.4%
10.7%
Cash from investing
-0.0
-5,024
-219
Cash from financing
-2,623
449
902
Depreciation and amortisation
595
538
431
+10.8%
Share-based compensation
121
111
104
+9.1%
Buybacks
219
216
860
+1.3%
Dividends paid
475
454
412
+4.7%
Dividend per share
$3.67
$3.52
$3.16
+4.3%
Diluted shares, weighted
131m
130m
132m
+0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
8,398
6,227
5,962
+34.9%
Non-controlling interest
15.4
14.5
6.2
+5.6%
Debt
6,585
8,462
7,108
-22.2%
Operating lease liabilities
93.9
96.4
n/a
-2.6%
Other liabilities
5,249
5,088
4,656
+3.2%
Total liabilities and equity
20,341
19,888
17,732
+2.3%
Fixed assets
2,266
2,293
1,768
-1.1%
Goodwill
8,060
7,870
5,454
+2.4%
Intangible assets
3,520
3,799
1,783
-7.3%
Investments
39.1
70.8
151
-44.8%
Cash and equivalents
733
686
3,220
+6.9%
Receivables
n/a
n/a
2,131
Inventory
2,091
1,964
1,678
+6.4%
Other assets
3,632
3,206
1,547
+13.3%
Total assets
20,341
19,888
17,732
+2.3%
10-K for the year ended 30 June 2021, filed 25 August 2021: the filing.