Universal (UVV) FY2021 results: revenue $2.0 billion, up 3.9% on the year
Universal Corp. (UVV) reported revenue of $2.0 billion for fiscal 2021, the year ended 31 March 2021, up 3.9% on the year before. Net income was $87 million, up 21.9%, and diluted earnings per share $3.53. The figures are the company's own, from the 10-K it filed with the SEC on 28 May 2021.
Revenue
$2.0 billion
+3.9% on the year
FY2014FY2021
Operating margin
7.5%
6.7% a year earlier
FY2014FY2021
Net income
$87 million
+21.9% on the year
FY2014FY2021
Diluted EPS
$3.53
+23.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
1,965
1,892
2,213
+3.9%
Cost of revenue
1,597
1,553
1,821
+2.8%
Gross profit
368
339
393
+8.7%
Gross margin
18.7%
17.9%
17.7%
Selling, general and administrative
220
223
225
-1.4%
Operating income
148
126
161
+17.0%
Operating margin
7.5%
6.7%
7.3%
Interest expense
25.0
19.9
17.5
+25.7%
Pre-tax income
126
113
151
+11.0%
Income tax
29.4
35.3
41.2
-16.7%
Effective tax rate
23.4%
31.1%
27.2%
Net income
87.4
71.7
104
+21.9%
Net margin
4.4%
3.8%
4.7%
Diluted EPS
$3.53
$2.86
$4.11
+23.4%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
220
10.9
165
+1,922.7%
Capital expenditure
66.2
35.2
38.8
+87.8%
Free cash flow
154
-24.3
126
Free cash flow margin
7.8%
-1.3%
5.7%
Cash from investing
-217
-106
-34.7
Cash from financing
91.4
-94.1
-65.8
Depreciation and amortisation
44.7
38.4
37.1
+16.6%
Share-based compensation
6.1
5.6
8.2
+8.4%
Buybacks
0.0
33.5
1.4
Dividends paid
75.2
75.4
69.9
-0.3%
Dividend per share
$3.08
$3.04
$3.00
+1.3%
Diluted shares, weighted
25m
25m
25m
-1.3%
Shares outstanding at period end
25m
24m
25m
+0.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,307
1,247
1,337
+4.9%
Non-controlling interest
41.1
42.6
42.8
-3.5%
Debt
619
447
423
+38.6%
Operating lease liabilities
19.7
25.9
0.0
-23.8%
Other liabilities
354
359
331
-1.3%
Total liabilities and equity
2,342
2,121
2,133
+10.4%
Fixed assets
350
315
302
+10.9%
Goodwill
173
127
97.9
+36.4%
Intangible assets
72.3
17.9
0.1
+304.8%
Trading assets
15.7
12.6
16.3
+24.5%
Cash and equivalents
197
107
298
+83.6%
Receivables
367
341
368
+7.9%
Other assets
1,167
1,200
1,051
-2.8%
Total assets
2,342
2,121
2,133
+10.4%
10-K for the year ended 31 March 2021, filed 28 May 2021: the filing.