Trimble (TRMB) FY2020 results: revenue $3.2 billion, down 3.6% on the year
Trimble Inc. (TRMB) reported revenue of $3.2 billion for fiscal 2020, the year ended 1 January 2021, down 3.6% on the year before. Net income was $390 million, down 24.2%, and diluted earnings per share $1.55. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$3.2 billion
-3.6% on the year
FY2013FY2020
Operating margin
13.3%
11.5% a year earlier
FY2013FY2020
Net income
$390 million
-24.2% on the year
FY2013FY2020
Diluted EPS
$1.55
-23.6% 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
3,152
3,271
3,132
-3.6%
Cost of revenue
1,393
1,483
1,427
-6.1%
Gross profit
1,755
1,781
1,681
-1.5%
Gross margin
55.7%
54.4%
53.7%
Research and development
476
470
446
+1.3%
Operating income
420
376
321
+11.7%
Operating margin
13.3%
11.5%
10.2%
Pre-tax income
395
345
278
+14.6%
Income tax
4.4
-170
-5.3
Effective tax rate
1.1%
-49.2%
-1.9%
Net income
390
514
283
-24.2%
Net margin
12.4%
15.7%
9.0%
Diluted EPS
$1.55
$2.03
$1.12
-23.6%
$ 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
672
585
487
+14.9%
Capital expenditure
56.8
69.0
67.6
-17.7%
Free cash flow
615
516
419
+19.2%
Free cash flow margin
19.5%
15.8%
13.4%
Cash from investing
-232
-275
-1,650
Cash from financing
-400
-293
989
Depreciation and amortisation
105
113
112
-7.0%
Share-based compensation
83.0
75.0
76.9
+10.7%
Buybacks
81.6
180
93.0
-54.6%
Diluted shares, weighted
252m
253m
253m
-0.2%
Shares outstanding at period end
251m
250m
251m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,597
3,119
2,674
+15.3%
Non-controlling interest
1.7
1.4
0.4
+21.4%
Debt
1,547
1,843
1,982
-16.1%
Operating lease liabilities
109
114
n/a
-4.3%
Other liabilities
1,622
1,563
1,120
+3.8%
Total liabilities and equity
6,877
6,641
5,776
+3.6%
Fixed assets
252
241
213
+4.3%
Goodwill
3,876
3,681
3,540
+5.3%
Intangible assets
580
679
744
-14.5%
Investments
n/a
n/a
0.0
Cash and equivalents
238
189
172
+25.6%
Receivables
620
608
513
+2.0%
Inventory
302
312
298
-3.3%
Other assets
1,009
930
296
+8.4%
Total assets
6,877
6,641
5,776
+3.6%
10-K for the year ended 1 January 2021, filed 26 February 2021: the filing.