Perrigo (PRGO) FY2020 results: revenue $4.1 billion, up 5.6% on the year
Perrigo Co. plc (PRGO) reported revenue of $4.1 billion for fiscal 2020, the year ended 31 December 2020, up 5.6% on the year before. Net income was -$163 million, and diluted earnings per share $-1.19. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$4.1 billion
+5.6% on the year
FY2016FY2020
Operating margin
6.5%
4.5% a year earlier
FY2016FY2020
Net income
-$163 million
FY2016FY2020
Diluted EPS
-$1.19
FY2016FY2020
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
4,088
3,870
4,732
+5.6%
Cost of revenue
2,593
2,436
2,900
+6.4%
Gross profit
1,495
1,434
1,832
+4.3%
Gross margin
36.6%
37.0%
38.7%
Research and development
122
119
219
+2.1%
Operating income
265
175
236
+51.8%
Operating margin
6.5%
4.5%
5.0%
Pre-tax income
n/a
n/a
291
Income tax
-38.3
-10.7
160
Effective tax rate
n/a
n/a
54.9%
Net income
-163
146
131
Net margin
-4.0%
3.8%
2.8%
Diluted EPS
-$1.19
$1.07
$0.95
$ 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
636
388
593
+64.1%
Capital expenditure
170
138
103
+23.7%
Free cash flow
466
250
490
+86.2%
Free cash flow margin
11.4%
6.5%
10.4%
Cash from investing
-188
-596
-127
Cash from financing
-181
1.8
-572
Depreciation and amortisation
385
396
424
-3.0%
Share-based compensation
58.5
52.2
37.7
+12.1%
Buybacks
164
0.0
400
Dividends paid
124
112
105
+10.2%
Dividend per share
$0.90
$0.82
$0.76
+9.8%
Diluted shares, weighted
136m
136m
138m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,655
5,804
5,668
-2.6%
Non-controlling interest
0.0
0.3
0.1
Debt
3,566
3,369
3,242
+5.8%
Operating lease liabilities
132
102
n/a
+30.3%
Finance lease liabilities
20.2
21.1
n/a
-4.3%
Other liabilities
2,114
2,005
2,073
+5.4%
Total liabilities and equity
11,488
11,301
10,983
+1.7%
Fixed assets
865
774
829
+11.7%
Goodwill
3,096
3,103
3,980
-0.2%
Intangible assets
3,890
4,754
4,429
-18.2%
Cash and equivalents
632
354
551
+78.2%
Receivables
594
1,243
1,073
-52.3%
Inventory
1,059
967
878
+9.5%
Other assets
1,354
106
n/a
+1,180.7%
Total assets
11,488
11,301
10,983
+1.7%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.