Interface (TILE) FY2020 results: revenue $1.1 billion, down 17.9% on the year
Interface Inc. (TILE) reported revenue of $1.1 billion for fiscal 2020, the year ended 3 January 2021, down 17.9% on the year before. Net income was -$72 million, and diluted earnings per share $-1.23. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2021.
Revenue
$1.1 billion
-17.9% on the year
FY2013FY2020
Operating margin
-3.6%
9.7% a year earlier
FY2013FY2020
Net income
-$72 million
FY2013FY2020
Diluted EPS
-$1.23
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
1,103
1,343
1,180
-17.9%
Cost of revenue
693
810
750
-14.5%
Gross profit
411
533
430
-23.0%
Gross margin
37.2%
39.7%
36.4%
Research and development
18.6
17.8
16.4
+4.5%
Selling, general and administrative
333
389
333
-14.4%
Operating income
-39.3
131
76.4
Operating margin
-3.6%
9.7%
6.5%
Interest expense
29.2
25.7
15.4
+14.0%
Pre-tax income
-79.4
102
55.0
Income tax
-7.5
22.6
4.7
Effective tax rate
n/a
22.2%
8.6%
Net income
-71.9
79.2
50.3
Net margin
-6.5%
5.9%
4.3%
Diluted EPS
-$1.23
$1.34
$0.84
$ 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
119
142
91.8
-16.0%
Capital expenditure
62.9
74.6
54.9
-15.7%
Free cash flow
56.1
67.1
36.9
-16.4%
Free cash flow margin
5.1%
5.0%
3.1%
Cash from investing
-61.7
-74.2
-456
Cash from financing
-42.7
-66.7
362
Depreciation and amortisation
45.9
44.9
39.1
+2.2%
Share-based compensation
-0.5
n/a
n/a
Buybacks
0.0
25.2
14.5
Dividends paid
5.6
15.4
15.5
-63.8%
Dividend per share
$0.10
$0.26
$0.26
-63.5%
Diluted shares, weighted
59m
59m
60m
-0.7%
Shares outstanding at period end
59m
58m
n/a
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
327
368
355
-11.3%
Debt
577
596
619
-3.3%
Operating lease liabilities
86.5
91.8
0.0
-5.8%
Finance lease liabilities
2.7
1.7
n/a
+60.7%
Other liabilities
314
365
311
-14.1%
Total liabilities and equity
1,306
1,423
1,285
-8.2%
Fixed assets
n/a
325
293
Goodwill
166
257
246
-35.6%
Intangible assets
27.3
29.7
n/a
-8.1%
Investments
0.0
0.0
0.0
Cash and equivalents
103
81.3
81.0
+26.8%
Receivables
140
177
179
-21.2%
Inventory
229
254
259
-9.8%
Other assets
641
299
227
+114.5%
Total assets
1,306
1,423
1,285
-8.2%
10-K for the year ended 3 January 2021, filed 3 March 2021: the filing.