Teledyne Technologies (TDY) FY2020 results: revenue $3.1 billion, down 2.4% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $3.1 billion for fiscal 2020, the year ended 3 January 2021, down 2.4% on the year before. Net income was $402 million, down 0.1%, and diluted earnings per share $10.62. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$3.1 billion
-2.4% on the year
FY2013FY2020
Operating margin
15.6%
15.5% a year earlier
FY2013FY2020
Net income
$402 million
-0.1% on the year
FY2013FY2020
Diluted EPS
$10.62
-1.0% 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
3,086
3,164
2,902
-2.4%
Cost of revenue
1,905
1,920
1,791
-0.8%
Gross profit
1,181
1,243
1,111
-5.0%
Gross margin
38.3%
39.3%
38.3%
Selling, general and administrative
662
715
694
-7.4%
Operating income
480
492
417
-2.4%
Operating margin
15.6%
15.5%
14.4%
Interest expense
15.3
21.0
29.2
-27.1%
Pre-tax income
470
474
394
-0.8%
Income tax
67.8
71.4
60.1
-5.0%
Effective tax rate
14.4%
15.1%
15.3%
Net income
402
402
334
-0.1%
Net margin
13.0%
12.7%
11.5%
Diluted EPS
$10.62
$10.73
$9.01
-1.0%
$ 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
619
482
447
+28.4%
Capital expenditure
71.4
88.4
86.8
-19.2%
Free cash flow
548
394
360
+39.1%
Free cash flow margin
17.7%
12.4%
12.4%
Cash from investing
-99.4
-572
-88.6
Cash from financing
-61.8
142
-271
Depreciation and amortisation
116
112
113
+3.8%
Diluted shares, weighted
38m
38m
37m
+1.1%
Shares outstanding at period end
37m
37m
36m
+1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,229
2,715
2,230
+18.9%
Debt
778
851
748
-8.5%
Operating lease liabilities
116
119
n/a
-2.3%
Other liabilities
961
895
832
+7.4%
Total liabilities and equity
5,085
4,580
3,809
+11.0%
Fixed assets
489
488
443
+0.3%
Goodwill
2,150
2,050
1,735
+4.9%
Intangible assets
410
267
193
+53.3%
Cash and equivalents
673
200
142
+237.4%
Receivables
402
460
416
-12.7%
Inventory
347
393
364
-11.7%
Other assets
613
721
515
-14.9%
Total assets
5,085
4,580
3,809
+11.0%
10-K for the year ended 3 January 2021, filed 26 February 2021: the filing.