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 | 2,609.0 | 1,974.4 | 1,361.3 | 1,124.8 | 934.0 | 812.8 | 692.1 | 519.1 |
Revenue growth | 32.1% | 45.0% | 21.0% | 20.4% | 14.9% | 17.4% | 33.3% | 28.2% |
Cost of goods sold | 595.0 | 510.5 | 337.7 | 311.9 | 282.6 | 242.2 | 216.1 | 172.0 |
Gross profit | 2,014.0 | 1,463.9 | 1,023.6 | 812.9 | 651.4 | 570.6 | 476.0 | 347.1 |
Gross margin | 77.2% | 74.1% | 75.2% | 72.3% | 69.7% | 70.2% | 68.8% | 66.9% |
Selling, general and administrative | 136.2 | 94.7 | 58.6 | | | | | |
Sales and marketing | | | | 11.2 | 3.8 | 3.8 | 3.6 | 2.9 |
General and administrative | 114.1 | 81.2 | 49.0 | 42.5 | 36.7 | 33.3 | 32.6 | 26.8 |
EBITA | 1,333.9 | 1,151.0 | 635.2 | 612.5 | 525.3 | 461.9 | 367.4 | 263.7 |
EBITA margin | 51.1% | 58.3% | 46.7% | 54.5% | 56.2% | 56.8% | 53.1% | 50.8% |
Amortization of intangibles | | | | | 1.6 | 2.1 | 2.8 | 2.0 |
EBIT | 1,333.9 | 1,151.0 | 635.2 | 612.5 | 523.7 | 459.8 | 364.6 | 261.7 |
EBIT margin | 51.1% | 58.3% | 46.7% | 54.5% | 56.1% | 56.6% | 52.7% | 50.4% |
Pre-tax income | 1,316.1 | 1,123.0 | 622.5 | 604.2 | 510.3 | 451.8 | 361.2 | 258.5 |
Income taxes | 258.8 | 223.8 | 115.9 | 105.0 | 74.5 | 126.3 | 101.4 | 64.3 |
Tax rate | 19.7% | 19.9% | 18.6% | 17.4% | 14.6% | 28.0% | 28.1% | 24.9% |
Net income | 1,044.5 | 895.7 | 506.6 | 499.2 | 435.8 | 325.5 | 259.8 | 193.5 |
Net margin | 40.0% | 45.4% | 37.2% | 44.4% | 46.7% | 40.0% | 37.5% | 37.3% |
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Diluted EPS | $9.71 | $8.67 | $5.04 | $4.84 | $4.13 | $3.10 | $2.50 | $2.03 |
Shares outstanding (diluted) | 107.6 | 103.3 | 100.5 | 103.1 | 105.4 | 105.0 | 103.8 | 95.2 |
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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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