Universal (UVV) FY2020 results: revenue $1.9 billion, down 14.5% on the year
Universal Corp. (UVV) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 March 2020, down 14.5% on the year before. Net income was $72 million, down 31.2%, and diluted earnings per share $2.86. The figures are the company's own, from the 10-K it filed with the SEC on 28 May 2020.
Revenue
$1.9 billion
-14.5% on the year
FY2013FY2020
Operating margin
6.7%
7.3% a year earlier
FY2013FY2020
Net income
$72 million
-31.2% on the year
FY2013FY2020
Diluted EPS
$2.86
-30.4% 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
1,892
2,213
2,019
-14.5%
Cost of revenue
1,553
1,821
1,662
-14.7%
Gross profit
339
393
357
-13.7%
Gross margin
17.9%
17.7%
17.7%
Selling, general and administrative
223
225
201
-1.0%
Operating income
126
161
171
-21.6%
Operating margin
6.7%
7.3%
8.5%
Interest expense
19.9
17.5
15.6
+13.4%
Pre-tax income
113
151
167
-25.1%
Income tax
35.3
41.2
50.5
-14.3%
Effective tax rate
31.1%
27.2%
30.3%
Net income
71.7
104
106
-31.2%
Net margin
3.8%
4.7%
5.2%
Diluted EPS
$2.86
$4.11
$4.14
-30.4%
$ 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
10.9
165
81.2
-93.4%
Capital expenditure
35.2
38.8
34.0
-9.1%
Free cash flow
-24.3
126
47.2
Free cash flow margin
-1.3%
5.7%
2.3%
Cash from investing
-106
-34.7
-27.4
Cash from financing
-94.1
-65.8
-105
Depreciation and amortisation
38.4
37.1
34.9
+3.3%
Share-based compensation
5.6
8.2
7.6
-30.9%
Buybacks
33.5
1.4
21.6
+2,218.6%
Dividends paid
75.4
69.9
54.7
+7.8%
Dividend per share
$3.04
$3.00
$2.18
+1.3%
Diluted shares, weighted
25m
25m
26m
-0.9%
Shares outstanding at period end
24m
25m
25m
-2.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,247
1,337
1,342
-6.8%
Non-controlling interest
42.6
42.8
42.9
-0.4%
Debt
447
423
415
+5.7%
Operating lease liabilities
25.9
0.0
n/a
Other liabilities
359
331
369
+8.5%
Total liabilities and equity
2,121
2,133
2,169
-0.6%
Fixed assets
315
302
324
+4.2%
Goodwill
127
97.9
98.8
+29.5%
Intangible assets
17.9
0.1
n/a
+20,429.9%
Trading assets
12.6
16.3
17.5
-22.6%
Cash and equivalents
107
298
234
-63.9%
Receivables
341
368
377
-7.4%
Other assets
1,200
1,051
1,117
+14.2%
Total assets
2,121
2,133
2,169
-0.6%
10-K for the year ended 31 March 2020, filed 28 May 2020: the filing.