Power Integrations (POWI) FY2020 results: revenue $488 million, up 16.1% on the year
Power Integrations Inc. (POWI) reported revenue of $488 million for fiscal 2020, the year ended 31 December 2020, up 16.1% on the year before. Net income was $71 million, down 63.2%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$488 million
+16.1% on the year
FY2013FY2020
Operating margin
14.4%
51.6% a year earlier
FY2013FY2020
Net income
$71 million
-63.2% on the year
FY2013FY2020
Diluted EPS
$1.17
-63.9% 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
488
421
416
+16.1%
Cost of revenue
245
207
201
+18.1%
Gross profit
244
213
215
+14.1%
Gross margin
49.9%
50.7%
51.6%
Research and development
81.7
73.5
70.6
+11.2%
Operating income
70.5
217
55.6
-67.5%
Operating margin
14.4%
51.6%
13.4%
Pre-tax income
75.3
222
59.8
-66.2%
Income tax
4.1
28.9
-10.2
-85.9%
Effective tax rate
5.4%
13.0%
-17.1%
Net income
71.2
193
70.0
-63.2%
Net margin
14.6%
46.0%
16.8%
Diluted EPS
$1.17
$3.25
$1.16
-63.9%
$ 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
126
224
84.0
-44.0%
Capital expenditure
70.6
24.1
24.7
+192.8%
Free cash flow
55.0
200
59.3
-72.5%
Free cash flow margin
11.3%
47.6%
14.3%
Cash from investing
-28.3
-162
69.1
Cash from financing
-17.2
-17.9
-113
Depreciation and amortisation
28.1
24.4
24.2
+15.2%
Share-based compensation
30.9
23.3
21.6
+32.4%
Buybacks
2.6
7.3
103
-63.9%
Dividends paid
25.1
20.5
18.8
+22.3%
Diluted shares, weighted
61m
60m
60m
+2.0%
Shares outstanding at period end
60m
59m
58m
+1.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
810
725
527
+11.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
7.3
7.0
n/a
+4.5%
Other liabilities
85.6
72.3
61.6
+18.3%
Total liabilities and equity
903
804
589
+12.4%
Fixed assets
166
117
114
+42.5%
Goodwill
91.8
91.8
91.8
0.0%
Intangible assets
12.5
16.9
21.2
-25.8%
Investments
190
232
94.5
-18.1%
Cash and equivalents
259
179
134
+44.9%
Receivables
35.9
24.3
11.1
+47.9%
Inventory
103
90.4
80.9
+13.8%
Other assets
44.8
52.8
41.1
-15.2%
Total assets
903
804
589
+12.4%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.