Pentair (PNR) FY2020 results: revenue $3.0 billion, up 2.0% on the year
Pentair plc (PNR) reported revenue of $3.0 billion for fiscal 2020, the year ended 31 December 2020, up 2.0% on the year before. Net income was $359 million, up 0.8%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2021.
Revenue
$3.0 billion
+2.0% on the year
FY2013FY2020
Operating margin
15.3%
14.6% a year earlier
FY2013FY2020
Net income
$359 million
+0.8% on the year
FY2013FY2020
Diluted EPS
$2.14
+2.4% 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
3,018
2,957
2,965
+2.0%
Cost of revenue
1,960
1,906
1,917
+2.9%
Gross profit
1,058
1,052
1,048
+0.6%
Gross margin
35.0%
35.6%
35.3%
Research and development
75.7
78.9
76.7
-4.1%
Selling, general and administrative
520
540
534
-3.6%
Operating income
461
432
437
+6.7%
Operating margin
15.3%
14.6%
14.7%
Interest expense
n/a
30.1
32.6
Pre-tax income
432
408
380
+6.0%
Income tax
75.0
45.8
58.1
+63.8%
Effective tax rate
17.4%
11.2%
15.3%
Net income
359
356
347
+0.8%
Net margin
11.9%
12.0%
11.7%
Diluted EPS
$2.14
$2.09
$1.96
+2.4%
$ 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
574
353
439
+62.5%
Capital expenditure
62.2
58.5
48.2
+6.3%
Free cash flow
511
294
391
+73.7%
Free cash flow margin
16.9%
10.0%
13.2%
Cash from investing
-118
-332
-68.8
Cash from financing
-436
-17.1
-408
Depreciation and amortisation
75.1
n/a
n/a
Share-based compensation
20.3
21.4
20.9
-5.1%
Buybacks
150
150
500
+0.1%
Dividends paid
127
123
187
+3.6%
Dividend per share
$0.76
$0.72
$1.05
+5.6%
Diluted shares, weighted
167m
170m
177m
-1.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,106
1,954
1,836
+7.8%
Debt
840
1,029
788
-18.4%
Operating lease liabilities
65.1
61.1
0.0
+6.5%
Other liabilities
1,186
1,095
1,183
+8.3%
Total liabilities and equity
4,197
4,140
3,806
+1.4%
Fixed assets
301
283
273
+6.4%
Goodwill
2,392
2,258
2,073
+5.9%
Intangible assets
326
339
276
-3.9%
Cash and equivalents
82.1
82.5
74.3
-0.5%
Inventory
420
377
388
+11.3%
Other assets
676
799
723
-15.4%
Total assets
4,197
4,140
3,806
+1.4%
10-K for the year ended 31 December 2020, filed 16 February 2021: the filing.