Teleflex (TFX) FY2019 results: revenue $2.6 billion, up 6.0% on the year
Teleflex Inc. (TFX) reported revenue of $2.6 billion for fiscal 2019, the year ended 31 December 2019, up 6.0% on the year before. Net income was $461 million, up 129.8%, and diluted earnings per share $9.80. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$2.6 billion
+6.0% on the year
FY2012FY2019
Operating margin
16.5%
13.1% a year earlier
FY2012FY2019
Net income
$461 million
+129.8% on the year
FY2012FY2019
Diluted EPS
$9.80
+128.4% 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
2,595
2,448
2,146
+6.0%
Cost of revenue
1,186
1,146
975
+3.6%
Gross profit
1,409
1,303
1,172
+8.2%
Gross margin
54.3%
53.2%
54.6%
Research and development
114
106
84.8
+7.2%
Selling, general and administrative
852
797
700
+6.9%
Operating income
427
322
372
+32.8%
Operating margin
16.5%
13.1%
17.3%
Interest expense
80.3
103
82.5
-22.1%
Pre-tax income
340
220
285
+54.8%
Income tax
-122
23.2
130
Effective tax rate
-35.9%
10.6%
45.5%
Net income
461
201
153
+129.8%
Net margin
17.8%
8.2%
7.1%
Diluted EPS
$9.80
$4.29
$3.27
+128.4%
$ 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
440
437
420
+0.5%
Capital expenditure
103
80.8
70.9
+27.1%
Free cash flow
337
357
349
-5.5%
Free cash flow margin
13.0%
14.6%
16.3%
Cash from investing
-73.5
-196
n/a
Cash from financing
-419
-206
n/a
Depreciation and amortisation
218
215
160
+1.7%
Share-based compensation
26.9
22.4
19.4
+20.1%
Dividends paid
62.8
62.2
61.2
+1.1%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
47m
47m
47m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,979
2,540
2,431
+17.3%
Redeemable equity
n/a
n/a
0.0
Debt
1,909
2,159
2,250
-11.6%
Operating lease liabilities
101
n/a
n/a
Other liabilities
1,320
1,579
1,501
-16.4%
Total liabilities and equity
6,310
6,278
6,181
+0.5%
Fixed assets
431
433
383
-0.5%
Goodwill
2,245
2,247
2,236
-0.1%
Intangible assets
2,156
2,325
2,384
-7.3%
Cash and equivalents
301
357
334
-15.7%
Receivables
419
366
346
+14.3%
Inventory
477
428
396
+11.4%
Other assets
281
122
104
+129.8%
Total assets
6,310
6,278
6,181
+0.5%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.