Power Integrations (POWI) FY2019 results: revenue $421 million, up 1.1% on the year
Power Integrations Inc. (POWI) reported revenue of $421 million for fiscal 2019, the year ended 31 December 2019, up 1.1% on the year before. Net income was $193 million, up 176.4%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2020.
Revenue
$421 million
+1.1% on the year
FY2012FY2019
Operating margin
51.6%
13.4% a year earlier
FY2012FY2019
Net income
$193 million
+176.4% on the year
FY2012FY2019
Diluted EPS
$3.25
+179.7% 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
421
416
432
+1.1%
Cost of revenue
207
201
218
+3.0%
Gross profit
213
215
214
-0.6%
Gross margin
50.7%
51.6%
49.5%
Research and development
73.5
70.6
68.5
+4.1%
Operating income
217
55.6
57.6
+290.0%
Operating margin
51.6%
13.4%
13.3%
Pre-tax income
222
59.8
60.3
+272.2%
Income tax
28.9
-10.2
32.7
Effective tax rate
13.0%
-17.1%
54.2%
Net income
193
70.0
27.6
+176.4%
Net margin
46.0%
16.8%
6.4%
Diluted EPS
$3.25
$1.16
$0.45
+179.7%
$ 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
224
84.0
82.0
+167.4%
Capital expenditure
24.1
24.7
32.5
-2.3%
Free cash flow
200
59.3
49.5
+238.0%
Free cash flow margin
47.6%
14.3%
11.5%
Cash from investing
-162
69.1
-34.7
Cash from financing
-17.9
-113
-15.8
Depreciation and amortisation
24.4
24.2
24.5
+0.9%
Share-based compensation
23.3
21.6
24.7
+8.2%
Buybacks
7.3
103
9.2
-92.9%
Dividends paid
20.5
18.8
16.6
+8.9%
Diluted shares, weighted
60m
60m
61m
-1.1%
Shares outstanding at period end
59m
58m
60m
+1.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
725
527
548
+37.5%
Debt
0.0
0.0
0.0
Operating lease liabilities
7.0
n/a
n/a
Other liabilities
72.3
61.6
73.4
+17.4%
Total liabilities and equity
804
589
621
+36.6%
Fixed assets
117
114
112
+2.2%
Goodwill
91.8
91.8
91.8
0.0%
Intangible assets
16.9
21.2
25.4
-20.3%
Investments
232
94.5
189
+146.1%
Cash and equivalents
179
134
93.7
+33.2%
Receivables
24.3
11.1
16.8
+119.2%
Inventory
90.4
80.9
57.1
+11.8%
Other assets
52.8
41.1
35.3
+28.6%
Total assets
804
589
621
+36.6%
10-K for the year ended 31 December 2019, filed 7 February 2020: the filing.