Westlake (WLK) FY2021 results: revenue $11.8 billion, up 57.0% on the year
Westlake Corp. (WLK) reported revenue of $11.8 billion for fiscal 2021, the year ended 31 December 2021, up 57.0% on the year before. Net income was $2.0 billion, up 510.6%, and diluted earnings per share $15.58. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$11.8 billion
+57.0% on the year
FY2014FY2021
Operating margin
23.8%
5.7% a year earlier
FY2014FY2021
Net income
$2.0 billion
+510.6% on the year
FY2014FY2021
Diluted EPS
$15.58
+508.6% on the year
FY2014FY2021
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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,394
1,297
1,301
+84.6%
Capital expenditure
658
525
787
+25.3%
Free cash flow
1,736
772
514
+124.9%
Free cash flow margin
14.7%
10.3%
6.3%
Cash from investing
-3,213
-509
-1,954
Cash from financing
1,437
-216
630
Depreciation and amortisation
840
773
713
+8.7%
Share-based compensation
31.0
29.0
25.0
+6.9%
Buybacks
30.0
54.0
30.0
-44.4%
Dividends paid
145
137
132
+5.8%
Dividend per share
$1.14
$1.06
$1.02
+6.6%
Diluted shares, weighted
129m
128m
129m
+0.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
7,955
6,043
5,860
+31.6%
Non-controlling interest
573
535
543
+7.1%
Debt
5,180
3,566
3,445
+45.3%
Operating lease liabilities
461
376
355
+22.6%
Other liabilities
4,290
3,315
3,058
+29.4%
Total liabilities and equity
18,459
13,835
13,261
+33.4%
Fixed assets
7,606
6,920
6,912
+9.9%
Goodwill
2,024
1,083
1,074
+86.9%
Intangible assets
1,083
444
523
+143.9%
Securities held for sale or to maturity
n/a
0.0
240
Cash and equivalents
1,908
1,313
728
+45.3%
Receivables
1,741
1,078
938
+61.5%
Inventory
1,407
918
936
+53.3%
Other assets
2,690
2,079
1,910
+29.4%
Total assets
18,459
13,835
13,261
+33.4%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.