Vontier (VNT) FY2023 results: revenue $3.1 billion, down 2.8% on the year
Vontier Corp. (VNT) reported revenue of $3.1 billion for fiscal 2023, the year ended 31 December 2023, down 2.8% on the year before. Net income was $377 million, down 6.1%, and diluted earnings per share $2.42. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$3.1 billion
-2.8% on the year
FY2018FY2023
Operating margin
17.6%
18.1% a year earlier
FY2018FY2023
Net income
$377 million
-6.1% on the year
FY2018FY2023
Diluted EPS
$2.42
-2.8% on the year
FY2018FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
455
321
481
+41.7%
Capital expenditure
60.1
60.0
47.8
+0.2%
Free cash flow
395
261
433
+51.2%
Free cash flow margin
12.8%
8.2%
14.5%
Cash from investing
69.3
-330
-1,008
Cash from financing
-388
-348
726
Depreciation and amortisation
43.8
40.9
45.9
+7.1%
Share-based compensation
31.5
24.3
25.5
+29.6%
Buybacks
74.7
328
0.0
-77.2%
Dividends paid
15.5
15.9
12.7
-2.5%
Dividend per share
$0.10
$0.03
$0.03
+300.0%
Diluted shares, weighted
156m
161m
170m
-3.1%
Shares outstanding at period end
154m
156m
169m
-1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
890
576
570
+54.4%
Non-controlling interest
5.2
3.0
3.8
+73.3%
Short-term borrowings
n/a
4.6
3.7
Debt
2,289
2,586
2,584
-11.5%
Operating lease liabilities
37.1
34.0
35.6
+9.1%
Other liabilities
1,072
1,140
1,153
-5.9%
Total liabilities and equity
4,294
4,343
4,350
-1.1%
Fixed assets
102
92.1
101
+11.1%
Goodwill
1,742
1,739
1,667
+0.2%
Intangible assets
568
650
616
-12.5%
Cash and equivalents
341
204
573
+66.7%
Receivables
498
515
481
-3.4%
Inventory
297
346
287
-14.3%
Other assets
746
798
625
-6.5%
Total assets
4,294
4,343
4,350
-1.1%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.