Resideo Technologies (REZI) FY2020 results: revenue $5.1 billion, up 1.7% on the year
Resideo Technologies, Inc. (REZI) reported revenue of $5.1 billion for fiscal 2020, the year ended 31 December 2020, up 1.7% on the year before. Net income was $37 million, up 2.8%, and diluted earnings per share $0.29. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$5.1 billion
+1.7% on the year
FY2016FY2020
Operating margin
6.1%
5.2% a year earlier
FY2016FY2020
Net income
$37 million
+2.8% on the year
FY2016FY2020
Diluted EPS
$0.29
0.0% on the year
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
5,071
4,988
4,827
+1.7%
Cost of revenue
3,727
3,711
3,402
+0.4%
Gross profit
1,344
1,277
1,425
+5.2%
Gross margin
26.5%
25.6%
29.5%
Research and development
74.0
87.0
n/a
-14.9%
Selling, general and administrative
889
932
932
-4.6%
Operating income
311
258
493
+20.5%
Operating margin
6.1%
5.2%
10.2%
Interest expense
63.0
69.0
20.0
-8.7%
Pre-tax income
101
71.0
104
+42.3%
Income tax
64.0
35.0
-301
+82.9%
Effective tax rate
63.4%
49.3%
-289.4%
Net income
37.0
36.0
405
+2.8%
Net margin
0.7%
0.7%
8.4%
Diluted EPS
$0.29
$0.29
$3.30
0.0%
$ 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
244
23.0
462
+960.9%
Capital expenditure
70.0
n/a
64.0
Free cash flow
174
n/a
398
Free cash flow margin
3.4%
n/a
8.2%
Cash from investing
-103
-112
-74.0
Cash from financing
253
-53.0
-167
Depreciation and amortisation
86.0
80.0
66.0
+7.5%
Share-based compensation
29.0
25.0
20.0
+16.0%
Diluted shares, weighted
126m
123m
123m
+2.5%
Shares outstanding at period end
143m
123m
122m
+16.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,993
1,602
1,533
+24.4%
Debt
1,162
1,180
1,201
-1.5%
Operating lease liabilities
107
111
n/a
-3.6%
Other liabilities
2,348
2,235
2,238
+5.1%
Total liabilities and equity
5,610
5,128
4,972
+9.4%
Fixed assets
318
316
300
+0.6%
Goodwill
2,691
2,642
2,634
+1.9%
Intangible assets
135
127
133
+6.3%
Cash and equivalents
517
122
265
+323.8%
Receivables
863
817
821
+5.6%
Inventory
672
671
628
+0.1%
Other assets
414
433
191
-4.4%
Total assets
5,610
5,128
4,972
+9.4%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.