RB Global (RBA) FY2019 results: revenue $1.3 billion, up 12.7% on the year
RB Global Inc. (RBA) reported revenue of $1.3 billion for fiscal 2019, the year ended 31 December 2019, up 12.7% on the year before. Net income was $149 million, up 22.7%, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$1.3 billion
+12.7% on the year
FY2016FY2019
Operating margin
16.9%
15.8% a year earlier
FY2016FY2019
Net income
$149 million
+22.7% on the year
FY2016FY2019
Diluted EPS
$1.36
+22.5% on the year
FY2016FY2019
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
1,319
1,170
971
+12.7%
Cost of revenue
n/a
n/a
79.0
Gross profit
n/a
n/a
532
Gross margin
n/a
n/a
54.7%
Selling, general and administrative
382
383
323
-0.1%
Operating income
223
185
107
+20.5%
Operating margin
16.9%
15.8%
11.1%
Interest expense
41.3
44.5
38.3
-7.3%
Pre-tax income
191
153
77.4
+25.1%
Income tax
41.6
31.0
2.1
+34.2%
Effective tax rate
21.8%
20.3%
2.7%
Net income
149
121
75.0
+22.7%
Net margin
11.3%
10.4%
7.7%
Diluted EPS
$1.36
$1.11
$0.69
+22.5%
$ 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
333
144
148
+130.7%
Capital expenditure
13.6
16.9
10.8
-19.4%
Free cash flow
319
127
137
+150.5%
Free cash flow margin
24.2%
10.9%
14.1%
Cash from investing
-36.1
-31.0
-711
Cash from financing
-187
-134
119
Depreciation and amortisation
70.5
66.6
52.7
+5.8%
Share-based compensation
12.7
23.4
19.7
-45.6%
Buybacks
42.0
n/a
n/a
Dividends paid
82.5
75.7
72.8
+9.1%
Diluted shares, weighted
110m
109m
108m
+0.3%
Shares outstanding at period end
109m
109m
107m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
902
831
740
+8.6%
Non-controlling interest
5.2
5.1
5.1
+1.7%
Redeemable equity
n/a
0.9
9.0
Debt
650
731
820
-11.1%
Operating lease liabilities
111
n/a
n/a
Finance lease liabilities
16.3
10.1
n/a
+61.0%
Other liabilities
545
474
444
+14.8%
Total liabilities and equity
2,229
2,052
2,017
+8.6%
Fixed assets
484
487
527
-0.4%
Goodwill
672
672
671
+0.1%
Intangible assets
233
246
261
-5.0%
Cash and equivalents
360
238
268
+51.3%
Receivables
143
129
92.1
+10.3%
Inventory
65.0
113
38.2
-42.7%
Other assets
272
168
160
+61.6%
Total assets
2,229
2,052
2,017
+8.6%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.