Gibraltar Industries (ROCK) FY2020 results: revenue $1.0 billion, up 15.0% on the year
Gibraltar Industries, Inc. (ROCK) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, up 15.0% on the year before. Net income was $65 million, down 0.8%, and diluted earnings per share $1.96. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$1.0 billion
+15.0% on the year
FY2013FY2020
Operating margin
10.4%
9.0% a year earlier
FY2013FY2020
Net income
$65 million
-0.8% on the year
FY2013FY2020
Diluted EPS
$1.96
-1.5% 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
1,033
898
837
+15.0%
Cost of revenue
776
678
626
+14.4%
Gross profit
256
220
211
+16.6%
Gross margin
24.8%
24.5%
25.2%
Research and development
n/a
n/a
1.7
Selling, general and administrative
149
139
128
+7.2%
Operating income
107
80.8
81.1
+32.6%
Operating margin
10.4%
9.0%
9.7%
Interest expense
n/a
n/a
12.1
Pre-tax income
108
78.1
67.1
+38.0%
Income tax
24.5
18.2
13.0
+34.8%
Effective tax rate
22.7%
23.2%
19.4%
Net income
64.6
65.1
63.8
-0.8%
Net margin
6.3%
7.2%
7.6%
Diluted EPS
$1.96
$1.99
$1.96
-1.5%
$ 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
89.1
130
97.5
-31.4%
Capital expenditure
13.1
8.8
10.4
+48.9%
Free cash flow
76.0
121
87.2
-37.2%
Free cash flow margin
7.4%
13.5%
10.4%
Cash from investing
-327
-19.7
-14.5
Cash from financing
79.5
-217
-6.2
Depreciation and amortisation
20.9
17.6
17.4
+19.1%
Share-based compensation
8.2
12.6
9.2
-35.0%
Buybacks
6.7
4.3
7.2
+54.6%
Diluted shares, weighted
33m
33m
33m
+0.6%
Shares outstanding at period end
34m
n/a
33m
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
744
674
597
+10.4%
Debt
85.6
0.0
210
Operating lease liabilities
17.7
14.9
n/a
+18.7%
Other liabilities
365
296
255
+23.6%
Total liabilities and equity
1,212
984
1,062
+23.2%
Fixed assets
89.6
78.2
95.8
+14.6%
Goodwill
514
307
302
+67.3%
Intangible assets
156
76.7
96.4
+103.8%
Cash and equivalents
32.1
191
297
-83.2%
Receivables
198
134
140
+47.9%
Inventory
98.3
62.0
98.9
+58.7%
Other assets
124
135
31.7
-8.2%
Total assets
1,212
984
1,062
+23.2%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.