Rockwell Automation, Inc. Q4 FY2023 results: revenue $2.6 billion, up 20.5% on the year

Rockwell Automation, Inc. (ROK) reported revenue of $2.6 billion for Q4 FY2023, the quarter ended 30 September 2023, up 20.5% on the same quarter a year earlier. Net income was $303 million, down 10.6% on the year, and diluted earnings per share $2.60. The figures are the company's own, from the 10-K it filed with the SEC on 8 November 2023.

Revenue$2.6 billionup 20.5%

Net income$303 milliondown 10.6%

Diluted EPS$2.60

QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	2,563	n/a	n/a	n/a
Cost of revenue	1,507	n/a	n/a	n/a
Gross profit	1,056	n/a	n/a	n/a
Gross margin	41.2%	n/a	n/a
Selling, general and administrative	552	n/a	n/a	n/a
Interest expense	31.0	n/a	n/a	n/a
Pre-tax income	317	n/a	n/a	n/a
Income tax	112	n/a	n/a	n/a
Effective tax rate	35.2%	n/a	n/a
Net income	303	n/a	n/a	n/a
Net margin	11.8%	n/a	n/a
Diluted EPS	$2.60	n/a	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free 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 and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	840	n/a	n/a	n/a
Capital expenditure	63.2	n/a	n/a	n/a
Free cash flow	776	n/a	n/a	n/a
Free cash flow margin	30.3%	n/a	n/a
Depreciation and amortisation	68.4	n/a	n/a	n/a
Share-based compensation	23.3	n/a	n/a	n/a
Buybacks	54.4	n/a	n/a	n/a
Dividends paid	136	n/a	n/a	n/a
Diluted shares, weighted	116m	n/a	n/a	n/a
Shares outstanding at period end	115m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Total assets	11,304	n/a	n/a	n/a
Cash and equivalents	1,072	n/a	n/a	n/a
Receivables	2,167	n/a	n/a	n/a
Inventory	1,405	n/a	n/a	n/a
Goodwill	3,529	n/a	n/a	n/a
Long-term debt	2,863	n/a	n/a	n/a
Long-term debt including finance leases	2,863	n/a	n/a	n/a
Operating lease liabilities	285	n/a	n/a	n/a
Shareholders' equity	3,562	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,563	2,052	2,126	2,051	2,036	1,881	2,001	2,144	2,316	2,105	2,239	2,313
Cost of revenue	1,507	1,258	1,293	1,256	1,265	1,159	1,191	1,268	1,196	1,089	1,114	1,169
Gross profit	1,056	795	833	795	771	722	810	876	1,120	1,016	1,125	1,144
Gross margin	41%	39%	39%	39%	38%	38%	40%	41%	48%	48%	50%	49%
R&D	n/a	n/a	n/a	n/a	n/a	156	162	170	191	172	180	173
SG&A	552	514	501	501	487	476	469	498	471	478	478	490
Operating income	n/a	n/a	n/a	n/a	n/a	321	408	454	520	435	530	550
Operating margin	n/a	n/a	n/a	n/a	n/a	17%	20%	21%	22%	21%	24%	24%
Interest expense	31.0	33.3	39.2	41.0	41.1	39.0	39.0	41.0	37.0	32.0	36.0	33.0
Pre-tax income	317	260	310	255	274	213	299	342	63.0	342	440	470
Tax rate	35%	18%	15%	9%	13%	16%	17%	14%	52%	12%	20%	13%
Net income	303	215	266	232	239	184	252	295	138	305	350	408
Net margin	12%	10%	13%	11%	12%	10%	13%	14%	6%	14%	16%	18%
Diluted EPS	$2.60	$1.86	$2.31	$2.02	$2.09	$1.61	$2.22	$2.60	$1.24	$2.69	$3.10	$3.65
Operating cash flow	840	32.6	120	279	432	364	199	527	454	234	320	724
Capital expenditure	63.2	67.9	51.2	40.7	64.9	71.0	28.0	38.0	49.0	64.0	45.0	70.0
Free cash flow	776	-35.3	68.6	238	367	293	171	489	405	170	275	654
Buybacks	54.4	120	193	163	118	100	132	124	69.0	153	446	155
Dividends paid	136	144	143	142	142	149	148	147	147	156	153	155
Shares outstanding	115m	115m	114m	113m	113m	113m	113m	112m	112m	112m	111m	111m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 8 November 2023, accession 0001024478-23-000126: the filing on EDGAR. All of Rockwell Automation, Inc.'s filings: EDGAR company page.

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