Pentair (PNR) FY2019 results: revenue $3.0 billion, down 0.3% on the year
Pentair plc (PNR) reported revenue of $3.0 billion for fiscal 2019, the year ended 31 December 2019, down 0.3% on the year before. Net income was $356 million, up 2.4%, and diluted earnings per share $2.09. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$3.0 billion
-0.3% on the year
FY2012FY2019
Operating margin
14.6%
14.7% a year earlier
FY2012FY2019
Net income
$356 million
+2.4% on the year
FY2012FY2019
Diluted EPS
$2.09
+6.6% 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
2,957
2,965
2,846
-0.3%
Cost of revenue
1,906
1,917
1,858
-0.6%
Gross profit
1,052
1,048
988
+0.4%
Gross margin
35.6%
35.3%
34.7%
Research and development
78.9
76.7
73.2
+2.9%
Selling, general and administrative
540
534
536
+1.1%
Operating income
432
437
378
-1.0%
Operating margin
14.6%
14.7%
13.3%
Interest expense
30.1
32.6
87.3
-7.7%
Pre-tax income
408
380
173
+7.3%
Income tax
45.8
58.1
58.7
-21.2%
Effective tax rate
11.2%
15.3%
34.0%
Net income
356
347
666
+2.4%
Net margin
12.0%
11.7%
23.4%
Diluted EPS
$2.09
$1.96
$3.63
+6.6%
$ 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
353
439
620
-19.6%
Capital expenditure
58.5
48.2
39.1
+21.4%
Free cash flow
294
391
581
-24.7%
Free cash flow margin
10.0%
13.2%
20.4%
Cash from investing
-332
-68.8
2,630
Cash from financing
-17.1
-408
-3,433
Share-based compensation
21.4
20.9
39.6
+2.4%
Buybacks
150
500
200
-70.0%
Dividends paid
123
187
252
-34.5%
Dividend per share
$0.72
$1.05
$1.38
-31.4%
Diluted shares, weighted
170m
177m
184m
-3.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,954
1,836
5,038
+6.4%
Debt
1,029
788
1,441
+30.7%
Operating lease liabilities
61.1
0.0
n/a
Other liabilities
1,095
1,183
2,155
-7.4%
Total liabilities and equity
4,140
3,806
8,634
+8.7%
Fixed assets
283
273
280
+3.9%
Goodwill
2,258
2,073
2,113
+9.0%
Intangible assets
339
276
322
+22.8%
Cash and equivalents
82.5
74.3
86.3
+11.0%
Inventory
377
388
357
-2.6%
Other assets
799
723
5,476
+10.5%
Total assets
4,140
3,806
8,634
+8.7%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.