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 | 11,613.0 | 10,027.0 | 7,569.0 | 9,041.0 | 7,005.0 | 3,867.0 | 3,029.0 | 1,101.0 |
Revenue growth | 15.8% | 32.5% | -16.3% | 29.1% | 81.1% | 27.7% | 175.1% | 38.8% |
Cost of goods sold | 1,230.0 | 1,287.0 | 1,377.0 | 1,254.0 | 135.0 | 62.0 | 57.0 | 258.0 |
Gross profit | 10,383.0 | 8,740.0 | 6,192.0 | 7,787.0 | 6,870.0 | 3,805.0 | 2,972.0 | 843.0 |
Gross margin | 89.4% | 87.2% | 81.8% | 86.1% | 98.1% | 98.4% | 98.1% | 76.6% |
Selling, general and administrative | | | | | | | | |
General and administrative | 450.0 | 473.0 | 503.0 | 501.0 | 399.0 | 295.0 | 277.0 | 140.0 |
EBIT | 5,387.0 | 4,355.0 | 1,477.0 | 2,647.0 | 1,895.0 | 781.0 | 502.0 | 322.0 |
EBIT margin | 46.4% | 43.4% | 19.5% | 29.3% | 27.1% | 20.2% | 16.6% | 29.2% |
Pre-tax income | 3,986.0 | 3,113.0 | -685.0 | 1,462.0 | 2,014.0 | 837.0 | 422.0 | 334.0 |
Income taxes | 8.0 | 1.0 | 2.0 | 0.0 | 8.0 | 1.0 | -12.0 | 1.0 |
Tax rate | 0.2% | 0.0% | | 0.0% | 0.4% | 0.1% | | 0.3% |
Net income | 3,815.0 | 2,936.0 | -842.0 | 935.0 | 1,743.0 | 411.0 | 1.0 | 99.0 |
Net margin | 32.9% | 29.3% | -11.1% | 10.3% | 24.9% | 10.6% | 0.0% | 9.0% |
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Diluted EPS | $3.78 | $2.86 | ($0.80) | $1.03 | $2.29 | $1.04 | $0.00 | $0.99 |
Shares outstanding (diluted) | 1,010.0 | 1,027.0 | 1,051.0 | 907.0 | 761.0 | 396.0 | 345.0 | 100.0 |
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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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