Universal (UVV) FY2019 results: revenue $2.2 billion, up 9.6% on the year
Universal Corp. (UVV) reported revenue of $2.2 billion for fiscal 2019, the year ended 31 March 2019, up 9.6% on the year before. Net income was $104 million, down 1.5%, and diluted earnings per share $4.11. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2019.
Revenue
$2.2 billion
+9.6% on the year
FY2012FY2019
Operating margin
7.3%
8.5% a year earlier
FY2012FY2019
Net income
$104 million
-1.5% on the year
FY2012FY2019
Diluted EPS
$4.11
-0.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,213
2,019
2,047
+9.6%
Cost of revenue
1,821
1,662
1,677
+9.5%
Gross profit
393
357
371
+10.0%
Gross margin
17.7%
17.7%
18.1%
Selling, general and administrative
225
201
212
+11.9%
Operating income
161
171
178
-5.7%
Operating margin
7.3%
8.5%
8.7%
Interest expense
17.5
15.6
16.3
+12.1%
Pre-tax income
151
167
169
-9.2%
Income tax
41.2
50.5
56.7
-18.5%
Effective tax rate
27.2%
30.3%
33.5%
Net income
104
106
106
-1.5%
Net margin
4.7%
5.2%
5.2%
Diluted EPS
$4.11
$4.14
$0.88
-0.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
165
81.2
250
+102.5%
Capital expenditure
38.8
34.0
35.6
+13.9%
Free cash flow
126
47.2
215
+166.4%
Free cash flow margin
5.7%
2.3%
10.5%
Cash from investing
-34.7
-27.4
-33.9
Cash from financing
-65.8
-105
-251
Depreciation and amortisation
37.1
34.9
36.0
+6.5%
Share-based compensation
8.2
7.6
6.5
+7.1%
Buybacks
1.4
21.6
0.0
-93.3%
Dividends paid
69.9
54.7
49.8
+27.8%
Dividend per share
$3.00
$2.18
$2.14
+37.6%
Diluted shares, weighted
25m
26m
24m
-0.7%
Shares outstanding at period end
25m
25m
25m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,337
1,342
1,286
-0.4%
Non-controlling interest
42.8
42.9
40.1
-0.2%
Debt
423
415
428
+1.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
331
369
369
-10.3%
Total liabilities and equity
2,133
2,169
2,123
-1.6%
Fixed assets
302
324
317
-6.6%
Goodwill
97.9
98.8
98.8
-0.9%
Intangible assets
0.1
n/a
n/a
Trading assets
16.3
17.5
17.7
-6.9%
Cash and equivalents
298
234
284
+27.1%
Receivables
368
377
439
-2.4%
Other assets
1,051
1,117
966
-6.0%
Total assets
2,133
2,169
2,123
-1.6%
10-K for the year ended 31 March 2019, filed 24 May 2019: the filing.