Dentsply Sirona (XRAY) FY2019 results: revenue $4.0 billion, up 1.1% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $4.0 billion for fiscal 2019, the year ended 31 December 2019, up 1.1% on the year before. Net income was $256 million, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$4.0 billion
+1.1% on the year
FY2012FY2019
Operating margin
8.8%
-24.0% a year earlier
FY2012FY2019
Net income
$256 million
FY2012FY2019
Diluted EPS
$1.14
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,029
3,986
3,993
+1.1%
Cost of revenue
1,858
1,918
1,805
-3.2%
Gross profit
2,165
2,068
2,188
+4.7%
Gross margin
53.7%
51.9%
54.8%
Research and development
143
161
152
-11.2%
Selling, general and administrative
1,587
1,719
1,675
-7.7%
Operating income
353
-958
-1,562
Operating margin
8.8%
-24.0%
-39.1%
Interest expense
30.0
37.0
38.3
-18.9%
Pre-tax income
338
-958
-1,604
Income tax
82.0
53.0
-53.2
+54.7%
Effective tax rate
24.3%
n/a
n/a
Net income
256
-1,011
-1,550
Net margin
6.4%
-25.4%
-38.8%
Diluted EPS
$1.14
-$4.51
-$6.76
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
639
500
602
+27.9%
Capital expenditure
123
183
144
-32.8%
Free cash flow
516
317
458
+62.9%
Free cash flow margin
12.8%
7.9%
11.5%
Cash from investing
-69.0
-253
-286
Cash from financing
-472
-250
-401
Depreciation and amortisation
323
331
316
-2.4%
Share-based compensation
66.0
21.0
48.0
+214.3%
Buybacks
260
250
401
+3.9%
Dividends paid
80.9
79.0
78.3
+2.4%
Dividend per share
$0.38
$0.35
$0.35
+7.1%
Diluted shares, weighted
224m
224m
229m
+0.0%
Shares outstanding at period end
221m
223m
227m
-0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,092
5,121
6,616
-0.6%
Non-controlling interest
2.0
11.9
11.6
-83.2%
Debt
1,438
1,657
1,642
-13.2%
Operating lease liabilities
120
n/a
n/a
Finance lease liabilities
1.0
n/a
n/a
Other liabilities
1,950
1,897
2,105
+2.8%
Total liabilities and equity
8,603
8,687
10,374
-1.0%
Fixed assets
802
871
876
-7.8%
Goodwill
3,396
3,431
4,539
-1.0%
Intangible assets
2,176
2,420
2,801
-10.1%
Cash and equivalents
405
310
321
+30.8%
Inventory
562
599
623
-6.2%
Other assets
1,261
1,056
1,215
+19.4%
Total assets
8,603
8,687
10,374
-1.0%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.