Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 12,172.9 | 16,071.7 | 8,497.1 | 6,557.6 | 5,145.6 | 5,872.2 | 4,860.4 | 4,103.7 |
Revenue growth | -24.3% | 89.1% | 29.6% | 27.4% | -12.4% | 20.8% | 18.4% | 45.5% |
Cost of goods sold | 1,560.4 | 2,437.5 | 1,119.9 | 765.1 | 237.5 | 397.1 | 299.7 | 241.7 |
Gross profit | 10,612.5 | 13,634.2 | 7,377.2 | 5,792.5 | 4,908.1 | 5,475.1 | 4,560.7 | 3,862.0 |
Gross margin | 87.2% | 84.8% | 86.8% | 88.3% | 95.4% | 93.2% | 93.8% | 94.1% |
Selling, general and administrative | 2,115.9 | 1,824.9 | 1,346.0 | 1,341.9 | 1,127.2 | 1,320.4 | 1,177.7 | 838.5 |
Research and development | 3,592.5 | 2,860.1 | 2,647.0 | 2,450.0 | 1,468.8 | 2,075.1 | 2,052.3 | 1,620.6 |
EBIT | 4,994.0 | 8,994.8 | 3,664.6 | 2,209.8 | 2,534.4 | 2,079.6 | 1,330.7 | 1,251.9 |
EBIT margin | 41.0% | 56.0% | 43.1% | 33.7% | 49.3% | 35.4% | 27.4% | 30.5% |
Pre-tax income | 4,858.8 | 9,325.8 | 3,810.4 | 2,429.1 | 2,553.5 | 2,078.5 | 1,329.8 | 1,225.1 |
Income taxes | 520.4 | 1,250.5 | 297.2 | 313.3 | 109.1 | 880.0 | 434.3 | 589.0 |
Tax rate | 10.7% | 13.4% | 7.8% | 12.9% | 4.3% | 42.3% | 32.7% | 48.1% |
Net income | 4,338.4 | 8,075.3 | 3,513.2 | 2,115.8 | 2,444.4 | 1,198.5 | 895.5 | 636.1 |
Net margin | 35.6% | 50.2% | 41.3% | 32.3% | 47.5% | 20.4% | 18.4% | 15.5% |
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Diluted EPS | $38.22 | $71.97 | $30.52 | $18.46 | $21.29 | $10.34 | $7.70 | $5.52 |
Shares outstanding (diluted) | 113.5 | 112.2 | 115.1 | 114.6 | 114.8 | 115.9 | 116.3 | 115.2 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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