Steris (STE) FY2020 results: revenue $3.0 billion, up 8.9% on the year
Steris plc (STE) reported revenue of $3.0 billion for fiscal 2020, the year ended 31 March 2020, up 8.9% on the year before. Net income was $408 million, up 34.1%, and diluted earnings per share $4.76. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2020.
Revenue
$3.0 billion
+8.9% on the year
FY2017FY2020
Operating margin
17.7%
14.8% a year earlier
FY2017FY2020
Net income
$408 million
+34.1% on the year
FY2017FY2020
Diluted EPS
$4.76
+33.7% on the year
FY2017FY2020
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
3,031
2,782
2,620
+8.9%
Cost of revenue
1,711
1,607
1,527
+6.5%
Gross profit
1,320
1,175
1,093
+12.3%
Gross margin
43.5%
42.2%
41.7%
Research and development
65.5
63.0
60.8
+4.0%
Selling, general and administrative
717
670
632
+7.0%
Operating income
537
411
400
+30.5%
Operating margin
17.7%
14.8%
15.3%
Interest expense
40.3
45.0
50.6
-10.5%
Pre-tax income
499
369
355
+35.0%
Income tax
90.9
64.4
63.4
+41.1%
Effective tax rate
18.2%
17.4%
17.8%
Net income
408
304
291
+34.1%
Net margin
13.4%
10.9%
11.1%
Diluted EPS
$4.76
$3.56
$3.39
+33.7%
$ 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
591
540
458
+9.5%
Capital expenditure
215
190
165
+13.1%
Free cash flow
376
350
292
+7.5%
Free cash flow margin
12.4%
12.6%
11.2%
Cash from investing
-320
-213
-204
Cash from financing
-163
-295
-356
Depreciation and amortisation
197
226
178
-12.7%
Share-based compensation
23.8
24.0
22.2
-0.6%
Buybacks
51.2
81.5
65.5
-37.1%
Dividends paid
123
113
103
+9.4%
Dividend per share
$1.45
$1.33
$1.21
+9.0%
Diluted shares, weighted
86m
85m
86m
+0.2%
Shares outstanding at period end
85m
85m
85m
+0.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,405
3,178
3,206
+7.2%
Non-controlling interest
12.8
8.0
11.3
+60.8%
Debt
1,151
1,183
1,316
-2.8%
Other liabilities
872
704
667
+23.9%
Total liabilities and equity
5,441
5,073
5,200
+7.2%
Fixed assets
1,112
1,032
1,011
+7.8%
Goodwill
2,356
2,323
2,434
+1.4%
Intangible assets
565
605
727
-6.5%
Cash and equivalents
320
221
202
+44.8%
Receivables
586
565
528
+3.8%
Inventory
264
208
206
+26.6%
Other assets
238
120
93.7
+97.8%
Total assets
5,441
5,073
5,200
+7.2%
10-K for the year ended 31 March 2020, filed 29 May 2020: the filing.