greeksoup/ stock research

Vulcan Materials (VMC) FY2020 results: revenue $4.9 billion, down 1.5% on the year

Vulcan Materials Co. (VMC) reported revenue of $4.9 billion for fiscal 2020, the year ended 31 December 2020, down 1.5% on the year before. Net income was $584 million, down 5.4%, and diluted earnings per share $4.39. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.

Revenue
$4.9 billion
-1.5% on the year
FY2013FY2020
Operating margin
18.4%
17.8% a year earlier
FY2013FY2020
Net income
$584 million
-5.4% on the year
FY2013FY2020
Diluted EPS
$4.39
-5.2% on the year
FY2013FY2020

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ millionFY2020FY2019FY2018On the yearLast 8 years
Revenue4,8574,9294,383-1.5%
Cost of revenue3,5753,6733,282-2.7%
Gross profit1,2811,2561,101+2.0%
Gross margin26.4%25.5%25.1%
Selling, general and administrative360371333-2.9%
Operating income896877748+2.1%
Operating margin18.4%17.8%17.1%
Interest expense136130138+4.5%
Pre-tax income744758623-1.8%
Income tax156135105+15.2%
Effective tax rate20.9%17.8%16.9%
Net income584618516-5.4%
Net margin12.0%12.5%11.8%
Diluted EPS$4.39$4.63$3.85-5.2%
$ 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

$ millionFY2020FY2019FY2018On the yearLast 8 years
Operating cash flow1,070984833+8.8%
Capital expenditure362384469-5.7%
Free cash flow708600364+18.0%
Free cash flow margin14.6%12.2%8.3%
Cash from investing-382-416-670
Cash from financing235-338-265
Depreciation and amortisation397375346+5.9%
Share-based compensation33.031.825.2+3.6%
Buybacks26.12.6134+904.3%
Dividends paid180164148+9.9%
Dividend per share$1.36$1.24$1.12+9.7%
Diluted shares, weighted133m133m134m-0.1%
Shares outstanding at period end133m132m132m+0.1%

Balance sheet

$ millionFY2020FY2019FY2018On the yearLast 8 years
Shareholders' equity6,0275,6225,203+7.2%
Non-controlling interest0.00.0n/a
Short-term borrowings0.00.0n/a
Debt3,2882,7842,912+18.1%
Operating lease liabilities4003880.0+3.0%
Finance lease liabilities4.10.7n/a+459.3%
Other liabilities1,9681,8541,717+6.2%
Total liabilities and equity11,68710,6499,832+9.7%
Fixed assets4,4264,3164,237+2.5%
Goodwill3,1723,1673,165+0.2%
Intangible assets1,1241,0911,095+2.9%
Cash and equivalents1,19727240.0+340.8%
Receivables513532512-3.6%
Inventory449458429-2.1%
Other assets807812352-0.7%
Total assets11,68710,6499,832+9.7%

10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.