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-05-18 | Dec-31-17 | Dec-31-16 |
Revenues | 2,194.5 | 1,279.0 | 1,038.9 | 1,202.6 | 1,147.2 | 1,147.2 | 1,014.9 | 926.6 |
Revenue growth | 71.6% | 23.1% | -13.6% | 4.8% | 13.0% | | 9.5% | 8.6% |
Cost of goods sold | 837.5 | 475.3 | 499.4 | 452.6 | 441.0 | 441.0 | 417.0 | 387.1 |
Gross profit | 1,356.9 | 803.6 | 539.5 | 750.1 | 706.3 | 706.3 | 597.9 | 539.5 |
Gross margin | 61.8% | 62.8% | 51.9% | 62.4% | 61.6% | 61.6% | 58.9% | 58.2% |
Selling, general and administrative | | | | | | 37.1 | | |
Sales and marketing | 16.4 | 12.1 | 14.1 | 16.3 | 16.8 | 16.8 | 17.4 | 19.7 |
General and administrative | 117.5 | 47.2 | 32.4 | 21.4 | 20.3 | | 16.9 | 14.8 |
EBITA | 1,036.6 | 631.5 | 380.7 | 607.1 | 571.3 | 581.4 | 474.1 | 425.1 |
EBITA margin | 47.2% | 49.4% | 36.6% | 50.5% | 49.8% | 50.7% | 46.7% | 45.9% |
Amortization of intangibles | 31.9 | 4.5 | 4.2 | 3.8 | 3.8 | 3.8 | 4.1 | 5.7 |
EBIT | 1,004.6 | 627.0 | 376.5 | 603.3 | 567.4 | 577.5 | 470.1 | 419.5 |
EBIT margin | 45.8% | 49.0% | 36.2% | 50.2% | 49.5% | 50.3% | 46.3% | 45.3% |
Pre-tax income | 798.0 | 533.9 | 280.0 | 486.7 | 441.6 | 441.6 | 353.8 | 303.5 |
Income taxes | 153.7 | 125.0 | 59.4 | 104.0 | 81.2 | 81.2 | 98.4 | 96.3 |
Tax rate | 19.3% | 23.4% | 21.2% | 21.4% | 18.4% | 18.4% | 27.8% | 31.7% |
Net income | 628.4 | 401.0 | 212.7 | 374.8 | 351.7 | 360.4 | 246.8 | 198.4 |
Net margin | 28.6% | 31.4% | 20.5% | 31.2% | 30.7% | 31.4% | 24.3% | 21.4% |
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Diluted EPS | $3.75 | $4.45 | $2.36 | $4.08 | $3.81 | $3.91 | $2.67 | $2.16 |
Shares outstanding (diluted) | 167.5 | 90.2 | 90.2 | 91.9 | 92.2 | 92.2 | 92.4 | 91.9 |
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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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