Resmed (RMD) FY2020 results: revenue $3.0 billion, up 13.4% on the year
Resmed Inc. (RMD) reported revenue of $3.0 billion for fiscal 2020, the year ended 30 June 2020, up 13.4% on the year before. Net income was $622 million, up 53.7%, and diluted earnings per share $4.27. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2020.
Revenue
$3.0 billion
+13.4% on the year
FY2013FY2020
Operating margin
27.4%
22.2% a year earlier
FY2013FY2020
Net income
$622 million
+53.7% on the year
FY2013FY2020
Diluted EPS
$4.27
+52.5% 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
2,957
2,607
2,340
+13.4%
Cost of revenue
1,239
1,113
1,005
+11.4%
Gross profit
1,718
1,494
1,335
+15.0%
Gross margin
58.1%
57.3%
57.0%
Research and development
202
181
155
+11.8%
Selling, general and administrative
677
645
600
+4.9%
Operating income
810
579
542
+39.8%
Operating margin
27.4%
22.2%
23.2%
Interest expense
40.4
36.2
28.4
+11.7%
Pre-tax income
733
519
521
+41.3%
Income tax
111
114
206
-2.5%
Effective tax rate
15.2%
22.0%
39.5%
Net income
622
405
316
+53.7%
Net margin
21.0%
15.5%
13.5%
Diluted EPS
$4.27
$2.80
$2.19
+52.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
802
459
505
+74.8%
Capital expenditure
95.3
68.7
62.6
+38.7%
Free cash flow
707
390
442
+81.1%
Free cash flow margin
23.9%
15.0%
18.9%
Cash from investing
-180
-1,076
-102
Cash from financing
-317
581
-1,027
Depreciation and amortisation
155
151
120
+2.7%
Share-based compensation
57.6
52.1
48.4
+10.5%
Buybacks
n/a
22.8
53.8
Dividends paid
225
212
199
+6.3%
Dividend per share
$1.56
$1.48
$1.40
+5.4%
Diluted shares, weighted
146m
144m
144m
+0.8%
Shares outstanding at period end
145m
144m
143m
+0.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,497
2,072
2,059
+20.5%
Debt
1,176
1,271
281
-7.5%
Operating lease liabilities
102
n/a
n/a
Other liabilities
812
765
723
+6.2%
Total liabilities and equity
4,587
4,108
3,064
+11.7%
Fixed assets
417
387
387
+7.7%
Goodwill
1,890
1,856
1,069
+1.8%
Intangible assets
448
522
215
-14.1%
Cash and equivalents
463
147
189
+214.8%
Receivables
475
528
484
-10.2%
Inventory
417
350
269
+19.2%
Other assets
477
317
452
+50.6%
Total assets
4,587
4,108
3,064
+11.7%
10-K for the year ended 30 June 2020, filed 13 August 2020: the filing.