Prudential Financial (PRU) FY2019 results: revenue $64.8 billion, up 2.9% on the year
Prudential Financial Inc. (PRU) reported revenue of $64.8 billion for fiscal 2019, the year ended 31 December 2019, up 2.9% on the year before. Net income was $4.2 billion, up 2.7%, and diluted earnings per share $10.11. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$64.8 billion
+2.9% on the year
FY2012FY2019
Operating margin
7.8%
7.7% a year earlier
FY2012FY2019
Net income
$4.2 billion
+2.7% on the year
FY2012FY2019
Diluted EPS
$10.11
+6.4% 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
64,807
62,992
59,689
+2.9%
Operating income
5,085
4,834
6,487
+5.2%
Operating margin
7.8%
7.7%
10.9%
Interest expense
1,550
1,420
1,327
+9.2%
Pre-tax income
5,085
4,834
6,487
+5.2%
Income tax
947
822
-1,438
+15.2%
Effective tax rate
18.6%
17.0%
-22.2%
Net income
4,186
4,074
7,863
+2.7%
Net margin
6.5%
6.5%
13.2%
Diluted EPS
$10.11
$9.50
$17.86
+6.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
19,625
21,664
13,445
-9.4%
Cash from investing
-17,028
-21,628
-11,934
Cash from financing
-1,634
781
-1,258
Depreciation and amortisation
460
161
222
+185.7%
Share-based compensation
231
155
263
+49.0%
Buybacks
2,500
1,500
1,250
+66.7%
Dividends paid
1,641
1,521
1,296
+7.9%
Dividend per share
$4.00
$3.60
$3.00
+11.1%
Diluted shares, weighted
411m
426m
436m
-3.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
63,115
48,617
54,236
+29.8%
Non-controlling interest
604
414
275
+45.9%
Debt
18,646
17,378
17,172
+7.3%
Other liabilities
814,187
748,669
760,238
+8.8%
Total liabilities and equity
896,552
815,078
831,921
+10.0%
Goodwill
3,013
863
843
+249.1%
Intangible assets
600
348
342
+72.4%
Investments
5,467
6,469
5,154
-15.5%
Cash and equivalents
16,327
15,353
14,490
+6.3%
Other assets
871,145
792,045
811,092
+10.0%
Total assets
896,552
815,078
831,921
+10.0%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.