Solaris Energy Infrastructure (SEI) FY2019 results: revenue $242 million, up 22.6% on the year
Solaris Energy Infrastructure, Inc. (SEI) reported revenue of $242 million for fiscal 2019, the year ended 31 December 2019, up 22.6% on the year before. Net income was $52 million, up 22.6%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$242 million
+22.6% on the year
FY2015FY2019
Operating margin
44.7%
50.3% a year earlier
FY2015FY2019
Net income
$52 million
+22.6% on the year
FY2015FY2019
Diluted EPS
$1.69
+6.3% on the year
FY2015FY2019
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
242
197
67.4
+22.6%
Cost of revenue
87.7
n/a
n/a
Gross profit
154
n/a
n/a
Gross margin
63.7%
n/a
n/a
Research and development
0.0
0.0
0.2
Selling, general and administrative
18.6
16.8
14.3
+10.9%
Operating income
108
99.3
25.5
+8.7%
Operating margin
44.7%
50.3%
37.8%
Interest expense
0.6
0.4
0.1
+69.5%
Pre-tax income
107
98.9
48.4
+8.5%
Income tax
16.9
13.0
33.7
+30.7%
Effective tax rate
15.8%
13.1%
69.7%
Net income
52.0
42.4
-4.2
+22.6%
Net margin
21.5%
21.5%
-6.2%
Diluted EPS
$1.69
$1.59
$0.27
+6.3%
$ 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
115
116
26.7
-1.3%
Capital expenditure
34.9
161
93.9
-78.4%
Free cash flow
80.0
-44.7
-67.2
Free cash flow margin
33.1%
-22.7%
-99.7%
Cash from investing
-34.0
-161
-99.0
Cash from financing
-39.0
5.8
132
Depreciation and amortisation
26.9
18.4
6.6
+46.2%
Share-based compensation
4.5
3.9
3.7
+15.9%
Buybacks
3.2
n/a
n/a
Dividends paid
12.8
2.8
n/a
+364.0%
Dividend per share
$0.41
$0.10
n/a
+305.0%
Diluted shares, weighted
30m
26m
12m
+16.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
264
198
113
+33.0%
Non-controlling interest
146
142
141
+2.4%
Debt
68.0
69.1
24.7
-1.7%
Operating lease liabilities
7.9
n/a
n/a
Finance lease liabilities
0.1
0.2
n/a
-15.6%
Other liabilities
19.4
48.4
20.8
-59.9%
Total liabilities and equity
505
459
300
+10.1%
Fixed assets
307
297
151
+3.4%
Goodwill
17.2
17.2
17.2
0.0%
Intangible assets
3.8
4.5
5.3
-17.2%
Cash and equivalents
66.9
25.1
63.4
+166.9%
Receivables
38.6
39.7
13.0
-3.0%
Inventory
7.1
10.5
7.5
-31.8%
Other assets
64.9
65.0
42.1
-0.2%
Total assets
505
459
300
+10.1%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.