Solaris Energy Infrastructure (SEI) FY2020 results: revenue $103 million, down 57.4% on the year
Solaris Energy Infrastructure, Inc. (SEI) reported revenue of $103 million for fiscal 2020, the year ended 31 December 2020, down 57.4% on the year before. Net income was -$29 million, and diluted earnings per share $-1.03. The figures are the company's own, from the 10-K it filed with the SEC on 9 March 2023.
Revenue
$103 million
-57.4% on the year
FY2015FY2020
Operating margin
-58.2%
44.7% a year earlier
FY2015FY2020
Net income
-$29 million
FY2015FY2020
Diluted EPS
-$1.03
FY2015FY2020
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
103
242
197
-57.4%
Cost of revenue
65.8
87.7
n/a
-25.0%
Gross profit
37.2
154
n/a
-75.8%
Gross margin
36.1%
63.7%
n/a
Research and development
0.0
0.0
0.0
Selling, general and administrative
16.5
18.6
16.8
-11.3%
Operating income
-59.9
108
99.3
Operating margin
-58.2%
44.7%
50.3%
Interest expense
n/a
0.6
0.4
Pre-tax income
-60.1
107
98.9
Income tax
-9.0
16.9
13.0
Effective tax rate
n/a
15.8%
13.1%
Net income
-29.3
52.0
42.4
Net margin
-28.5%
21.5%
21.5%
Diluted EPS
-$1.03
$1.69
$1.59
$ 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
43.9
115
116
-61.8%
Capital expenditure
4.7
34.9
161
-86.6%
Free cash flow
39.2
80.0
-44.7
-51.0%
Free cash flow margin
38.1%
33.1%
-22.7%
Cash from investing
-3.8
-34.0
-161
Cash from financing
-46.6
-39.0
5.8
Depreciation and amortisation
27.0
26.9
18.4
+0.4%
Share-based compensation
4.7
4.5
3.9
+5.8%
Buybacks
26.7
3.2
n/a
+722.3%
Dividends paid
12.4
12.8
2.8
-2.9%
Dividend per share
$0.42
$0.41
$0.10
+3.7%
Diluted shares, weighted
29m
30m
26m
-4.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
201
264
198
-23.7%
Non-controlling interest
114
146
142
-21.7%
Debt
68.7
68.0
69.1
+1.0%
Operating lease liabilities
7.4
7.9
n/a
-5.6%
Finance lease liabilities
0.1
0.1
0.2
-23.1%
Other liabilities
20.2
19.4
48.4
+3.9%
Total liabilities and equity
412
505
459
-18.4%
Fixed assets
n/a
307
297
Goodwill
13.0
17.2
17.2
-24.6%
Intangible assets
3.0
3.8
4.5
-20.7%
Cash and equivalents
60.4
66.9
25.1
-9.7%
Receivables
18.2
38.6
39.7
-52.7%
Inventory
1.0
7.1
10.5
-86.6%
Other assets
316
64.9
65.0
+387.3%
Total assets
412
505
459
-18.4%
10-K for the year ended 31 December 2020, filed 9 March 2023: the filing.