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Somnigroup International (SGI) FY2021 results: revenue $4.9 billion, up 34.1% on the year

Somnigroup International Inc. (SGI) reported revenue of $4.9 billion for fiscal 2021, the year ended 31 December 2021, up 34.1% on the year before. Net income was $624 million, up 79.0%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.

Revenue
$4.9 billion
+34.1% on the year
FY2014FY2021
Operating margin
18.5%
14.5% a year earlier
FY2014FY2021
Net income
$624 million
+79.0% on the year
FY2014FY2021
Diluted EPS
$3.06
+86.6% on the year
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue4,9313,6773,106+34.1%
Cost of revenue2,7722,0381,764+36.0%
Gross profit2,1591,6381,342+31.8%
Gross margin43.8%44.6%43.2%
Research and development27.323.123.0+18.2%
Operating income912532347+71.5%
Operating margin18.5%14.5%11.2%
Interest expense66.377.085.7-13.9%
Pre-tax income824452266+82.1%
Income tax19810374.7+93.3%
Effective tax rate24.1%22.7%28.1%
Net income624349190+79.0%
Net margin12.7%9.5%6.1%
Diluted EPS$3.06$1.64$0.85+86.6%
$ 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

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow723655n/a+10.4%
Capital expenditure12311188.2+10.8%
Free cash flow600543n/a+10.4%
Free cash flow margin12.2%14.8%n/a
Cash from investing-555-147n/a
Cash from financing76.5-523-203
Depreciation and amortisation175202116-13.8%
Share-based compensation61.410426.8-41.2%
Dividends paid63.10.00.0
Dividend per share$0.32n/an/a
Diluted shares, weighted204m212m222m-3.8%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity286504360-43.2%
Non-controlling interest0.01.00.9
Redeemable equity9.28.90.0+3.4%
Debt2,3321,2991,540+79.5%
Operating lease liabilities427275205+55.2%
Finance lease liabilities61.560.055.9+2.5%
Other liabilities1,2081,161900+4.1%
Total liabilities and equity4,3233,3093,062+30.7%
Fixed assetsn/a508436
Goodwill1,107766732+44.5%
Intangible assets751630641+19.2%
Cash and equivalents30165.064.9+362.6%
Receivables420384372+9.3%
Inventory464312260+48.6%
Other assets1,281644555+99.1%
Total assets4,3233,3093,062+30.7%

10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.