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)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,857
4,929
4,383
-1.5%
Cost of revenue
3,575
3,673
3,282
-2.7%
Gross profit
1,281
1,256
1,101
+2.0%
Gross margin
26.4%
25.5%
25.1%
Selling, general and administrative
360
371
333
-2.9%
Operating income
896
877
748
+2.1%
Operating margin
18.4%
17.8%
17.1%
Interest expense
136
130
138
+4.5%
Pre-tax income
744
758
623
-1.8%
Income tax
156
135
105
+15.2%
Effective tax rate
20.9%
17.8%
16.9%
Net income
584
618
516
-5.4%
Net margin
12.0%
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
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,070
984
833
+8.8%
Capital expenditure
362
384
469
-5.7%
Free cash flow
708
600
364
+18.0%
Free cash flow margin
14.6%
12.2%
8.3%
Cash from investing
-382
-416
-670
Cash from financing
235
-338
-265
Depreciation and amortisation
397
375
346
+5.9%
Share-based compensation
33.0
31.8
25.2
+3.6%
Buybacks
26.1
2.6
134
+904.3%
Dividends paid
180
164
148
+9.9%
Dividend per share
$1.36
$1.24
$1.12
+9.7%
Diluted shares, weighted
133m
133m
134m
-0.1%
Shares outstanding at period end
133m
132m
132m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,027
5,622
5,203
+7.2%
Non-controlling interest
0.0
0.0
n/a
Short-term borrowings
0.0
0.0
n/a
Debt
3,288
2,784
2,912
+18.1%
Operating lease liabilities
400
388
0.0
+3.0%
Finance lease liabilities
4.1
0.7
n/a
+459.3%
Other liabilities
1,968
1,854
1,717
+6.2%
Total liabilities and equity
11,687
10,649
9,832
+9.7%
Fixed assets
4,426
4,316
4,237
+2.5%
Goodwill
3,172
3,167
3,165
+0.2%
Intangible assets
1,124
1,091
1,095
+2.9%
Cash and equivalents
1,197
272
40.0
+340.8%
Receivables
513
532
512
-3.6%
Inventory
449
458
429
-2.1%
Other assets
807
812
352
-0.7%
Total assets
11,687
10,649
9,832
+9.7%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.