Teva Pharmaceutical Industries (TEVA) FY2019 results: revenue $16.9 billion, down 7.6% on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $16.9 billion for fiscal 2019, the year ended 31 December 2019, down 7.6% on the year before. Net income was -$999 million, and diluted earnings per share $-0.91. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$16.9 billion
-7.6% on the year
FY2012FY2019
Operating margin
-2.6%
-9.0% a year earlier
FY2012FY2019
Net income
-$999 million
FY2012FY2019
Diluted EPS
-$0.91
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
16,887
18,271
21,853
-7.6%
Cost of revenue
9,351
9,975
11,237
-6.3%
Gross profit
7,537
8,296
10,615
-9.1%
Gross margin
44.6%
45.4%
48.6%
Research and development
1,010
114
175
+786.0%
Operating income
-443
-1,637
-17,484
Operating margin
-2.6%
-9.0%
-80.0%
Interest expense
822
920
875
-10.7%
Pre-tax income
-1,265
-2,596
-18,379
Income tax
-278
-195
-1,933
Net income
-999
-2,150
-16,265
Net margin
-5.9%
-11.8%
-74.4%
Diluted EPS
-$0.91
-$2.35
-$16.26
$ 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
748
2,446
2,225
-69.4%
Capital expenditure
525
651
874
-19.4%
Free cash flow
223
1,795
1,351
-87.6%
Free cash flow margin
1.3%
9.8%
6.2%
Cash from investing
1,355
1,866
3,446
-27.4%
Cash from financing
-1,926
-3,351
-5,750
Depreciation and amortisation
1,722
1,842
2,112
-6.5%
Share-based compensation
119
155
133
-23.2%
Buybacks
n/a
n/a
0.0
Dividends paid
n/a
12.0
901
Dividend per share
$0.00
$0.00
$1.36
Diluted shares, weighted
1,091m
1,021m
1,016m
+6.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
13,972
14,707
17,359
-5.0%
Non-controlling interest
1,091
1,087
1,386
+0.4%
Debt
26,907
28,916
32,475
-6.9%
Operating lease liabilities
435
n/a
n/a
Other liabilities
15,065
15,973
19,395
-5.7%
Total liabilities and equity
57,470
60,683
70,615
-5.3%
Fixed assets
6,436
6,868
7,673
-6.3%
Goodwill
24,846
24,917
28,414
-0.3%
Intangible assets
11,232
14,005
17,640
-19.8%
Cash and equivalents
1,975
1,782
963
+10.8%
Receivables
5,676
5,822
7,128
-2.5%
Inventory
4,422
4,731
4,924
-6.5%
Other assets
2,883
2,558
3,873
+12.7%
Total assets
57,470
60,683
70,615
-5.3%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.