Timken (TKR) FY2023 results: revenue $4.8 billion, up 6.1% on the year
Timken Co. (TKR) reported revenue of $4.8 billion for fiscal 2023, the year ended 31 December 2023, up 6.1% on the year before. Net income was $394 million, down 3.3%, and diluted earnings per share $5.47. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$4.8 billion
+6.1% on the year
FY2016FY2023
Operating margin
13.8%
13.5% a year earlier
FY2016FY2023
Net income
$394 million
-3.3% on the year
FY2016FY2023
Diluted EPS
$5.47
-0.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
545
464
387
+17.6%
Capital expenditure
188
178
148
+5.3%
Free cash flow
357
285
239
+25.2%
Free cash flow margin
7.5%
6.3%
5.8%
Cash from investing
-806
-573
-174
Cash from financing
347
207
-269
+67.8%
Depreciation and amortisation
201
164
168
+22.7%
Share-based compensation
30.6
30.4
20.2
+0.7%
Buybacks
251
212
93.0
+18.6%
Dividends paid
94.0
91.7
92.2
+2.5%
Dividend per share
$1.30
$1.23
$1.19
+5.7%
Diluted shares, weighted
72m
74m
77m
-3.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,582
2,268
2,295
+13.8%
Non-controlling interest
120
84.6
82.8
+41.8%
Debt
2,396
1,963
1,465
+22.0%
Operating lease liabilities
78.7
65.2
77.6
+20.7%
Finance lease liabilities
6.1
1.9
2.9
+221.1%
Other liabilities
1,359
1,389
1,248
-2.2%
Total liabilities and equity
6,542
5,772
5,171
+13.3%
Fixed assets
n/a
1,207
1,055
Goodwill
1,370
1,098
1,023
+24.7%
Intangible assets
1,031
765
669
+34.8%
Cash and equivalents
419
332
257
+26.3%
Receivables
672
700
626
-4.0%
Inventory
1,229
1,191
1,043
+3.2%
Other assets
1,821
479
498
+280.2%
Total assets
6,542
5,772
5,171
+13.3%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.