Xylem (XYL) FY2023 results: revenue $7.4 billion, up 33.4% on the year
Xylem Inc. (XYL) reported revenue of $7.4 billion for fiscal 2023, the year ended 31 December 2023, up 33.4% on the year before. Net income was $609 million, up 71.5%, and diluted earnings per share $2.79. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$7.4 billion
+33.4% on the year
FY2016FY2023
Operating margin
8.9%
11.3% a year earlier
FY2016FY2023
Net income
$609 million
+71.5% on the year
FY2016FY2023
Diluted EPS
$2.79
+42.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
837
596
538
+40.4%
Capital expenditure
271
208
208
+30.3%
Free cash flow
566
388
330
+45.9%
Free cash flow margin
7.7%
7.0%
6.4%
Cash from investing
-628
-191
-183
Cash from financing
-157
-790
-855
Depreciation and amortisation
436
236
245
+84.7%
Share-based compensation
60.0
37.0
33.0
+62.2%
Buybacks
25.0
52.0
68.0
-51.9%
Dividends paid
299
217
203
+37.8%
Dividend per share
$1.32
$1.20
$1.12
+10.0%
Diluted shares, weighted
218m
181m
182m
+20.6%
Shares outstanding at period end
242m
180m
180m
+34.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,166
3,494
3,218
+191.0%
Non-controlling interest
10.0
9.0
8.0
+11.1%
Redeemable equity
0.0
n/a
n/a
Debt
2,284
1,880
2,440
+21.5%
Operating lease liabilities
272
228
243
+19.3%
Finance lease liabilities
64.0
21.0
n/a
+204.8%
Other liabilities
3,316
2,320
2,367
+42.9%
Total liabilities and equity
16,112
7,952
8,276
+102.6%
Fixed assets
1,169
630
644
+85.6%
Goodwill
7,587
2,719
2,792
+179.0%
Intangible assets
2,529
930
1,016
+171.9%
Cash and equivalents
1,019
944
1,349
+7.9%
Receivables
1,617
1,096
953
+47.5%
Inventory
1,018
799
700
+27.4%
Other assets
1,173
834
822
+40.6%
Total assets
16,112
7,952
8,276
+102.6%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.