Xylem (XYL) FY2020 results: revenue $4.9 billion, down 7.1% on the year
Xylem Inc. (XYL) reported revenue of $4.9 billion for fiscal 2020, the year ended 31 December 2020, down 7.1% on the year before. Net income was $254 million, down 36.7%, and diluted earnings per share $1.40. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$4.9 billion
-7.1% on the year
FY2013FY2020
Operating margin
7.5%
9.3% a year earlier
FY2013FY2020
Net income
$254 million
-36.7% on the year
FY2013FY2020
Diluted EPS
$1.40
-36.7% on the year
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
4,876
5,249
5,207
-7.1%
Cost of revenue
3,046
3,203
3,181
-4.9%
Gross profit
1,830
2,046
2,026
-10.6%
Gross margin
37.5%
39.0%
38.9%
Research and development
187
191
189
-2.1%
Selling, general and administrative
1,143
1,158
1,161
-1.3%
Operating income
367
486
654
-24.5%
Operating margin
7.5%
9.3%
12.6%
Interest expense
77.0
67.0
82.0
+14.9%
Pre-tax income
285
416
585
-31.5%
Income tax
31.0
15.0
36.0
+106.7%
Effective tax rate
10.9%
3.6%
6.2%
Net income
254
401
549
-36.7%
Net margin
5.2%
7.6%
10.5%
Diluted EPS
$1.40
$2.21
$3.03
-36.7%
$ 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
824
839
586
-1.8%
Capital expenditure
183
226
237
-19.0%
Free cash flow
641
613
349
+4.6%
Free cash flow margin
13.1%
11.7%
6.7%
Cash from investing
-169
-231
-643
Cash from financing
473
-177
-40.0
Depreciation and amortisation
251
257
261
-2.3%
Share-based compensation
26.0
29.0
30.0
-10.3%
Buybacks
61.0
40.0
59.0
+52.5%
Dividends paid
188
174
152
+8.0%
Dividend per share
$1.04
$0.96
$0.84
+8.3%
Diluted shares, weighted
181m
181m
181m
-0.1%
Shares outstanding at period end
180m
180m
180m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,968
2,957
2,768
+0.4%
Non-controlling interest
8.0
10.0
14.0
-20.0%
Debt
3,084
2,316
2,308
+33.2%
Operating lease liabilities
216
185
n/a
+16.8%
Other liabilities
2,474
2,242
2,132
+10.3%
Total liabilities and equity
8,750
7,710
7,222
+13.5%
Fixed assets
657
658
656
-0.2%
Goodwill
2,854
2,839
2,976
+0.5%
Intangible assets
1,093
1,174
1,232
-6.9%
Investments
n/a
0.0
n/a
Cash and equivalents
1,875
724
296
+159.0%
Receivables
923
1,036
1,031
-10.9%
Inventory
558
539
595
+3.5%
Other assets
790
740
436
+6.8%
Total assets
8,750
7,710
7,222
+13.5%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.