Skyworks Solutions (SWKS) FY2020 results: revenue $3.4 billion, down 0.6% on the year
Skyworks Solutions, Inc. (SWKS) reported revenue of $3.4 billion for fiscal 2020, the year ended 2 October 2020, down 0.6% on the year before. Net income was $815 million, down 4.5%, and diluted earnings per share $4.80. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2020.
Revenue
$3.4 billion
-0.6% on the year
FY2013FY2020
Operating margin
26.6%
28.2% a year earlier
FY2013FY2020
Net income
$815 million
-4.5% on the year
FY2013FY2020
Diluted EPS
$4.80
-1.8% on the year
FY2013FY2020
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
3,356
3,377
3,868
-0.6%
Cost of revenue
1,743
1,773
1,917
-1.7%
Gross profit
1,613
1,604
1,951
+0.6%
Gross margin
48.1%
47.5%
50.4%
Research and development
464
424
404
+9.4%
Selling, general and administrative
231
198
208
+16.7%
Operating income
892
952
1,319
-6.3%
Operating margin
26.6%
28.2%
34.1%
Interest expense
0.0
0.0
n/a
Pre-tax income
892
961
1,332
-7.2%
Income tax
76.9
107
414
-28.4%
Effective tax rate
8.6%
11.2%
31.1%
Net income
815
854
918
-4.5%
Net margin
24.3%
25.3%
23.7%
Diluted EPS
$4.80
$4.89
$5.01
-1.8%
$ 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
1,204
1,367
1,261
-11.9%
Capital expenditure
389
398
422
-2.3%
Free cash flow
815
969
838
-15.9%
Free cash flow margin
24.3%
28.7%
21.7%
Cash from investing
-581
-337
-1,150
Cash from financing
-908
-912
-994
Depreciation and amortisation
364
338
291
+7.9%
Share-based compensation
157
80.1
108
+95.5%
Buybacks
648
658
760
-1.5%
Dividends paid
307
274
243
+12.1%
Dividend per share
$1.82
$1.58
$1.34
+15.2%
Diluted shares, weighted
170m
174m
183m
-2.6%
Shares outstanding at period end
166m
170m
177m
-2.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,164
4,122
4,097
+1.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
151
0.0
n/a
Other liabilities
792
717
732
+10.4%
Total liabilities and equity
5,107
4,840
4,829
+5.5%
Fixed assets
1,250
1,206
1,141
+3.6%
Goodwill
1,190
1,190
1,190
0.0%
Intangible assets
53.5
108
144
-50.4%
Investments
413
231
317
+79.0%
Cash and equivalents
567
851
733
-33.4%
Receivables
358
465
656
-23.0%
Inventory
806
610
490
+32.2%
Other assets
469
179
158
+162.1%
Total assets
5,107
4,840
4,829
+5.5%
10-K for the year ended 2 October 2020, filed 17 November 2020: the filing.