Dentsply Sirona (XRAY) FY2020 results: revenue $3.3 billion, down 17.1% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $3.3 billion for fiscal 2020, the year ended 31 December 2020, down 17.1% on the year before. Net income was -$73 million, and diluted earnings per share $-0.33. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$3.3 billion
-17.1% on the year
FY2013FY2020
Operating margin
-0.1%
8.8% a year earlier
FY2013FY2020
Net income
-$73 million
FY2013FY2020
Diluted EPS
-$0.33
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
3,342
4,029
3,986
-17.1%
Cost of revenue
1,685
1,858
1,918
-9.3%
Gross profit
1,657
2,165
2,068
-23.5%
Gross margin
49.6%
53.7%
51.9%
Research and development
123
143
161
-14.0%
Selling, general and administrative
1,302
1,587
1,719
-18.0%
Operating income
-3.0
353
-958
Operating margin
-0.1%
8.8%
-24.0%
Interest expense
48.0
30.0
37.0
+60.0%
Pre-tax income
-50.0
338
-958
Income tax
23.0
82.0
53.0
-72.0%
Effective tax rate
n/a
24.3%
n/a
Net income
-73.0
256
-1,011
Net margin
-2.2%
6.4%
-25.4%
Diluted EPS
-$0.33
$1.14
-$4.51
$ 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
649
639
500
+1.6%
Capital expenditure
87.0
123
183
-29.2%
Free cash flow
562
516
317
+8.9%
Free cash flow margin
16.8%
12.8%
7.9%
Cash from investing
-1,106
-69.0
-253
Cash from financing
476
-472
-250
Depreciation and amortisation
334
323
331
+3.5%
Share-based compensation
47.0
66.0
21.0
-28.8%
Buybacks
140
260
250
-46.2%
Dividends paid
88.0
80.9
79.0
+8.8%
Dividend per share
$0.40
$0.38
$0.35
+6.7%
Diluted shares, weighted
219m
224m
224m
-2.3%
Shares outstanding at period end
219m
221m
223m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,932
5,092
5,121
-3.2%
Non-controlling interest
3.0
2.0
11.9
+50.0%
Debt
2,284
1,438
1,657
+58.9%
Operating lease liabilities
130
120
n/a
+8.3%
Finance lease liabilities
1.0
1.0
n/a
0.0%
Other liabilities
1,992
1,950
1,897
+2.2%
Total liabilities and equity
9,342
8,603
8,687
+8.6%
Fixed assets
791
802
871
-1.4%
Goodwill
3,986
3,396
3,431
+17.4%
Intangible assets
2,504
2,176
2,420
+15.1%
Cash and equivalents
438
405
310
+8.2%
Inventory
476
562
599
-15.3%
Other assets
1,147
1,261
1,056
-9.0%
Total assets
9,342
8,603
8,687
+8.6%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.