Skyworks Solutions (SWKS) FY2019 results: revenue $3.4 billion, down 12.7% on the year
Skyworks Solutions, Inc. (SWKS) reported revenue of $3.4 billion for fiscal 2019, the year ended 27 September 2019, down 12.7% on the year before. Net income was $854 million, down 7.1%, and diluted earnings per share $4.89. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2019.
Revenue
$3.4 billion
-12.7% on the year
FY2012FY2019
Operating margin
28.2%
34.1% a year earlier
FY2012FY2019
Net income
$854 million
-7.1% on the year
FY2012FY2019
Diluted EPS
$4.89
-2.4% on the year
FY2012FY2019
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
3,377
3,868
3,651
-12.7%
Cost of revenue
1,773
1,917
1,810
-7.5%
Gross profit
1,604
1,951
1,842
-17.8%
Gross margin
47.5%
50.4%
50.4%
Research and development
424
404
355
+4.8%
Selling, general and administrative
198
208
205
-4.6%
Operating income
952
1,319
1,254
-27.8%
Operating margin
28.2%
34.1%
34.3%
Interest expense
0.0
n/a
n/a
Pre-tax income
961
1,332
1,257
-27.9%
Income tax
107
414
247
-74.0%
Effective tax rate
11.2%
31.1%
19.6%
Net income
854
918
1,010
-7.1%
Net margin
25.3%
23.7%
27.7%
Diluted EPS
$4.89
$5.01
$5.41
-2.4%
$ 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
1,367
1,261
1,456
+8.5%
Capital expenditure
398
422
303
-5.7%
Free cash flow
969
838
1,153
+15.6%
Free cash flow margin
28.7%
21.7%
31.6%
Cash from investing
-337
-1,150
-326
Cash from financing
-912
-994
-597
Depreciation and amortisation
338
291
255
+16.1%
Share-based compensation
80.1
108
88.5
-25.7%
Buybacks
658
760
432
-13.4%
Dividends paid
274
243
214
+12.6%
Dividend per share
$1.58
$1.34
$1.16
+17.9%
Diluted shares, weighted
174m
183m
187m
-4.7%
Shares outstanding at period end
170m
177m
183m
-4.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,122
4,097
4,066
+0.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
717
732
508
-2.0%
Total liabilities and equity
4,840
4,829
4,574
+0.2%
Fixed assets
1,206
1,141
882
+5.7%
Goodwill
1,190
1,190
883
0.0%
Intangible assets
108
144
67.8
-24.9%
Investments
231
317
0.0
-27.1%
Cash and equivalents
851
733
1,617
+16.1%
Receivables
465
656
455
-29.0%
Inventory
610
490
494
+24.4%
Other assets
179
158
176
+13.1%
Total assets
4,840
4,829
4,574
+0.2%
10-K for the year ended 27 September 2019, filed 14 November 2019: the filing.