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 | 1,013.8 | 1,056.2 | 938.9 | 683.5 | 445.1 | 356.2 | 321.1 | 255.9 |
Revenue growth | -4.0% | 12.5% | 37.4% | 53.6% | 25.0% | 10.9% | 25.5% | 23.6% |
Cost of goods sold | 371.1 | 385.8 | 412.6 | 264.5 | 178.3 | 143.9 | 131.2 | 115.2 |
Gross profit | 642.7 | 670.4 | 526.2 | 419.0 | 266.9 | 212.4 | 189.8 | 140.7 |
Gross margin | 63.4% | 63.5% | 56.1% | 61.3% | 60.0% | 59.6% | 59.1% | 55.0% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 12.5 | 8.4 | 8.0 | 7.9 | 5.6 | 5.1 | 4.2 | 3.3 |
General and administrative | 65.7 | 57.9 | 62.0 | 49.1 | 36.8 | 43.2 | 34.5 | 23.3 |
EBITA | 424.2 | 475.8 | 316.2 | 193.0 | 139.5 | 103.8 | 91.2 | 50.0 |
EBITA margin | 41.8% | 45.0% | 33.7% | 28.2% | 31.3% | 29.1% | 28.4% | 19.5% |
Amortization of intangibles | 19.7 | 15.0 | 19.6 | 17.7 | 9.5 | 3.9 | 4.4 | 3.7 |
EBIT | 404.4 | 460.8 | 296.6 | 175.3 | 130.0 | 99.9 | 86.8 | 46.2 |
EBIT margin | 39.9% | 43.6% | 31.6% | 25.6% | 29.2% | 28.0% | 27.0% | 18.1% |
Pre-tax income | 453.1 | 496.1 | 340.2 | 211.6 | 151.5 | 124.3 | 105.2 | 56.7 |
Income taxes | 106.6 | 119.2 | 78.3 | 50.1 | 30.5 | 50.7 | 33.1 | 15.9 |
Tax rate | 23.5% | 24.0% | 23.0% | 23.7% | 20.1% | 40.8% | 31.5% | 28.0% |
Net income | 346.5 | 376.9 | 262.0 | 161.4 | 121.0 | 73.5 | 72.1 | 40.8 |
Net margin | 34.2% | 35.7% | 27.9% | 23.6% | 27.2% | 20.6% | 22.5% | 16.0% |
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Diluted EPS | $4.99 | $5.40 | $3.77 | $2.75 | $2.80 | $1.98 | $2.08 | $1.27 |
Shares outstanding (diluted) | 69.4 | 69.8 | 69.4 | 58.6 | 43.2 | 37.1 | 34.7 | 32.1 |
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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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