Xylem (XYL) FY2019 results: revenue $5.2 billion, up 0.8% on the year
Xylem Inc. (XYL) reported revenue of $5.2 billion for fiscal 2019, the year ended 31 December 2019, up 0.8% on the year before. Net income was $401 million, down 27.0%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$5.2 billion
+0.8% on the year
FY2012FY2019
Operating margin
9.3%
12.6% a year earlier
FY2012FY2019
Net income
$401 million
-27.0% on the year
FY2012FY2019
Diluted EPS
$2.21
-27.1% on the year
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
5,249
5,207
4,707
+0.8%
Cost of revenue
3,203
3,181
2,856
+0.7%
Gross profit
2,046
2,026
1,847
+1.0%
Gross margin
39.0%
38.9%
39.2%
Research and development
191
189
181
+1.1%
Selling, general and administrative
1,158
1,161
1,090
-0.3%
Operating income
486
654
552
-25.7%
Operating margin
9.3%
12.6%
11.7%
Interest expense
67.0
82.0
82.0
-18.3%
Pre-tax income
416
585
466
-28.9%
Income tax
15.0
36.0
136
-58.3%
Effective tax rate
3.6%
6.2%
29.2%
Net income
401
549
331
-27.0%
Net margin
7.6%
10.5%
7.0%
Diluted EPS
$2.21
$3.03
$1.83
-27.1%
$ 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
839
586
686
+43.2%
Capital expenditure
226
237
170
-4.6%
Free cash flow
613
349
516
+75.6%
Free cash flow margin
11.7%
6.7%
11.0%
Cash from investing
-231
-643
-181
Cash from financing
-177
-40.0
-421
Depreciation and amortisation
257
261
234
-1.5%
Share-based compensation
29.0
30.0
21.0
-3.3%
Buybacks
40.0
59.0
25.0
-32.2%
Dividends paid
174
152
130
+14.5%
Dividend per share
$0.96
$0.84
$0.72
+14.3%
Diluted shares, weighted
181m
181m
181m
+0.0%
Shares outstanding at period end
180m
180m
180m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,957
2,768
2,503
+6.8%
Non-controlling interest
10.0
14.0
16.0
-28.6%
Debt
2,316
2,308
2,200
+0.3%
Operating lease liabilities
185
n/a
n/a
Other liabilities
2,242
2,132
2,141
+5.2%
Total liabilities and equity
7,710
7,222
6,860
+6.8%
Fixed assets
658
656
643
+0.3%
Goodwill
2,839
2,976
2,768
-4.6%
Intangible assets
1,174
1,232
1,168
-4.7%
Investments
0.0
n/a
n/a
Cash and equivalents
724
296
414
+144.6%
Receivables
1,036
1,031
956
+0.5%
Inventory
539
595
524
-9.4%
Other assets
740
436
387
+69.7%
Total assets
7,710
7,222
6,860
+6.8%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.