UFP Technologies (UFPT) FY2020 results: revenue $179 million, down 9.6% on the year
UFP Technologies Inc. (UFPT) reported revenue of $179 million for fiscal 2020, the year ended 31 December 2020, down 9.6% on the year before. Net income was $13 million, down 32.3%, and diluted earnings per share $1.77. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2021.
Revenue
$179 million
-9.6% on the year
FY2013FY2020
Operating margin
9.3%
12.5% a year earlier
FY2013FY2020
Net income
$13 million
-32.3% on the year
FY2013FY2020
Diluted EPS
$1.77
-32.7% 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
179
198
190
-9.6%
Cost of revenue
135
144
142
-6.7%
Gross profit
44.7
54.0
48.3
-17.2%
Gross margin
24.9%
27.2%
25.4%
Research and development
8.2
8.8
10.5
-6.8%
Selling, general and administrative
27.5
29.3
27.7
-6.0%
Operating income
16.7
24.7
19.6
-32.3%
Operating margin
9.3%
12.5%
10.3%
Interest expense
0.1
0.7
1.3
-87.7%
Pre-tax income
16.3
23.6
18.4
-31.1%
Income tax
2.9
3.9
4.1
-25.2%
Effective tax rate
17.9%
16.5%
22.2%
Net income
13.4
19.8
14.3
-32.3%
Net margin
7.5%
10.0%
7.5%
Diluted EPS
$1.77
$2.63
$1.93
-32.7%
$ 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
25.0
31.2
21.3
-19.8%
Capital expenditure
4.4
5.8
5.4
-24.4%
Free cash flow
20.7
25.5
15.9
-18.8%
Free cash flow margin
11.5%
12.8%
8.3%
Cash from investing
-4.3
-5.8
-82.3
Cash from financing
-0.3
-24.9
26.3
Depreciation and amortisation
8.3
8.2
7.8
+1.2%
Share-based compensation
1.8
1.6
1.2
+13.6%
Diluted shares, weighted
8m
8m
7m
+0.7%
Shares outstanding at period end
8m
7m
7m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
177
162
140
+9.2%
Debt
0.0
0.0
25.1
Operating lease liabilities
0.9
1.9
0.0
-51.0%
Finance lease liabilities
0.1
0.0
n/a
Other liabilities
25.3
24.8
24.0
+1.8%
Total liabilities and equity
203
189
190
+7.7%
Fixed assets
53.8
56.7
57.7
-5.3%
Goodwill
51.8
51.8
51.8
0.0%
Intangible assets
19.7
21.0
22.2
-6.0%
Cash and equivalents
24.2
3.7
3.2
+547.4%
Receivables
26.4
28.6
28.3
-7.7%
Inventory
18.6
18.3
19.6
+2.0%
Other assets
8.6
8.5
6.7
+0.6%
Total assets
203
189
190
+7.7%
10-K for the year ended 31 December 2020, filed 12 March 2021: the filing.