Teleflex (TFX) FY2020 results: revenue $2.5 billion, down 2.2% on the year
Teleflex Inc. (TFX) reported revenue of $2.5 billion for fiscal 2020, the year ended 31 December 2020, down 2.2% on the year before. Net income was $335 million, down 27.3%, and diluted earnings per share $7.09. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$2.5 billion
-2.2% on the year
FY2013FY2020
Operating margin
16.7%
16.5% a year earlier
FY2013FY2020
Net income
$335 million
-27.3% on the year
FY2013FY2020
Diluted EPS
$7.09
-27.7% 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
2,537
2,595
2,448
-2.2%
Cost of revenue
1,212
1,186
1,146
+2.2%
Gross profit
1,325
1,409
1,303
-6.0%
Gross margin
52.2%
54.3%
53.2%
Research and development
120
114
106
+5.2%
Selling, general and administrative
744
852
797
-12.7%
Operating income
423
427
322
-1.0%
Operating margin
16.7%
16.5%
13.1%
Interest expense
66.5
80.3
103
-17.2%
Pre-tax income
358
340
220
+5.2%
Income tax
21.9
-122
23.2
Effective tax rate
6.1%
-35.9%
10.6%
Net income
335
461
201
-27.3%
Net margin
13.2%
17.8%
8.2%
Diluted EPS
$7.09
$9.80
$4.29
-27.7%
$ 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
436
440
437
-0.7%
Capital expenditure
90.7
103
80.8
-11.7%
Free cash flow
346
337
357
+2.6%
Free cash flow margin
13.6%
13.0%
14.6%
Cash from investing
-838
-73.5
-196
Cash from financing
455
-419
-206
Depreciation and amortisation
227
218
215
+4.1%
Share-based compensation
20.7
26.9
22.4
-23.0%
Dividends paid
63.2
62.8
62.2
+0.6%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
47m
47m
47m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,336
2,979
2,540
+12.0%
Debt
2,478
1,909
2,159
+29.8%
Operating lease liabilities
86.1
101
n/a
-15.1%
Other liabilities
1,252
1,320
1,579
-5.2%
Total liabilities and equity
7,153
6,310
6,278
+13.4%
Fixed assets
474
431
433
+10.0%
Goodwill
2,586
2,245
2,247
+15.2%
Intangible assets
2,520
2,156
2,325
+16.9%
Cash and equivalents
376
301
357
+24.8%
Receivables
395
419
366
-5.6%
Inventory
513
477
428
+7.7%
Other assets
289
281
122
+2.7%
Total assets
7,153
6,310
6,278
+13.4%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.