United Therapeutics (UTHR) FY2020 results: revenue $1.5 billion, up 2.4% on the year
United Therapeutics Corp. (UTHR) reported revenue of $1.5 billion for fiscal 2020, the year ended 31 December 2020, up 2.4% on the year before. Net income was $515 million, and diluted earnings per share $11.54. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$1.5 billion
+2.4% on the year
FY2013FY2020
Operating margin
40.0%
-12.9% a year earlier
FY2013FY2020
Net income
$515 million
FY2013FY2020
Diluted EPS
$11.54
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
1,483
1,449
1,628
+2.4%
Cost of revenue
108
118
199
-8.1%
Gross profit
1,375
1,331
1,429
+3.3%
Gross margin
92.7%
91.9%
87.8%
Research and development
358
1,183
358
-69.8%
Selling, general and administrative
n/a
n/a
266
Operating income
594
-188
805
Operating margin
40.0%
-12.9%
49.5%
Interest expense
23.5
44.2
13.9
-46.8%
Pre-tax income
639
-165
759
Income tax
124
-60.5
170
Effective tax rate
19.4%
n/a
22.4%
Net income
515
-104
589
Net margin
34.7%
-7.2%
36.2%
Diluted EPS
$11.54
-$2.39
$13.39
$ 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
756
-207
778
Capital expenditure
59.3
83.7
184
-29.2%
Free cash flow
696
-290
594
Free cash flow margin
46.9%
-20.0%
36.5%
Cash from investing
-738
-335
-821
Cash from financing
-16.9
611
6.3
Depreciation and amortisation
49.9
45.9
35.9
+8.7%
Share-based compensation
164
45.4
-26.4
+260.8%
Diluted shares, weighted
45m
44m
44m
+1.8%
Shares outstanding at period end
45m
44m
44m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,395
2,780
2,789
+22.1%
Redeemable equity
n/a
n/a
19.2
Debt
800
850
250
-5.9%
Operating lease liabilities
n/a
3.0
n/a
Other liabilities
420
280
343
+49.9%
Total liabilities and equity
4,615
3,913
3,401
+17.9%
Fixed assets
732
738
700
-0.9%
Goodwill
28.0
28.0
31.5
0.0%
Investments
2,246
1,515
1,189
+48.2%
Cash and equivalents
739
738
669
+0.0%
Receivables
157
151
176
+4.0%
Inventory
86.5
93.4
101
-7.4%
Other assets
627
649
535
-3.4%
Total assets
4,615
3,913
3,401
+17.9%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.