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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 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 8-K | 10-K | 10-K |
Revenues | 6,179.7 | 5,295.6 | 3,936.6 | 3,199.5 | 2,998.1 | 2,998.1 | 2,788.2 | 2,570.8 |
Revenue growth | 16.7% | 34.5% | 23.0% | 6.7% | 7.5% | | 8.5% | 8.8% |
Unit growth | 2.4% | 3.0% | 6.7% | 2.5% | 3.7% | | 2.0% | 2.4% |
Cost of goods sold | 4,246.3 | 3,678.5 | 2,805.7 | 2,274.6 | 2,127.9 | 2,127.9 | 1,982.9 | 1,829.7 |
Gross profit | 1,933.4 | 1,617.1 | 1,130.9 | 924.9 | 870.2 | 870.2 | 805.3 | 741.1 |
Gross margin | 31.3% | 30.5% | 28.7% | 28.9% | 29.0% | 29.0% | 28.9% | 28.8% |
Selling, general and administrative | 907.0 | 786.8 | 659.9 | 583.7 | 556.3 | 556.3 | 520.9 | 485.2 |
Equity in earnings | 0.4 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 0.1 | 0.2 |
EBITDA [+] | 1,065.8 | 860.6 | 500.7 | 370.8 | 342.0 | | 310.2 | 278.0 |
EBITDA growth | 23.8% | 71.9% | 35.0% | 8.4% | 10.3% | | 11.6% | 18.9% |
EBITDA margin | 17.2% | 16.3% | 12.7% | 11.6% | 11.4% | 10.5% | 11.1% | 10.8% |
Depreciation | 31.2 | 28.7 | 28.4 | 28.3 | 26.8 | | 24.7 | 21.0 |
EBITA | 1,034.5 | 831.9 | 472.3 | 342.5 | 315.2 | 314.1 | 285.5 | 257.0 |
EBITA margin | 16.7% | 15.7% | 12.0% | 10.7% | 10.5% | 10.5% | 10.2% | 10.0% |
Amortization of intangibles | 7.8 | 1.3 | 1.0 | 1.0 | 1.1 | | 1.0 | 1.0 |
EBIT [+] | 1,026.7 | 830.6 | 471.3 | 341.5 | 314.1 | 314.1 | 284.5 | 256.0 |
EBIT growth | 23.6% | 76.2% | 38.0% | 8.7% | 10.4% | | 11.1% | 18.3% |
EBIT margin | 16.6% | 15.7% | 12.0% | 10.7% | 10.5% | 10.5% | 10.2% | 10.0% |
Non-recurring items [+] | 0.6 | -2.5 | 6.9 | | | | | |
Asset impairment | 0.6 | | 6.9 | | | | | |
Unusual expense | | -2.5 | | | | | | |
Interest expense | | | | | | | | 8.1 |
Interest expense | | | | | | | | 8.1 |
Other income (expense), net | -41.3 | -8.9 | -12.6 | -24.0 | -21.1 | -21.1 | -15.3 | -6.6 |
Pre-tax income | 984.9 | 824.1 | 451.7 | 317.5 | 293.0 | 293.0 | 269.2 | 241.4 |
Income taxes | 236.8 | 173.8 | 85.2 | 56.2 | 58.8 | 58.8 | 78.0 | 92.9 |
Tax rate | 24.0% | 21.1% | 18.9% | 17.7% | 20.1% | 20.1% | 29.0% | 38.5% |
Net income | 748.5 | 650.6 | 366.7 | 261.6 | 234.5 | 234.5 | 191.3 | 148.6 |
Net margin | 12.1% | 12.3% | 9.3% | 8.2% | 7.8% | 7.8% | 6.9% | 5.8% |
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Basic EPS [+] | $18.99 | $16.32 | $9.14 | $6.57 | $5.82 | $5.82 | $4.69 | $3.55 |
Growth | 16.4% | 78.4% | 39.2% | 12.9% | 24.1% | | 32.0% | 19.3% |
Diluted EPS [+] | $18.80 | $16.07 | $8.97 | $6.40 | $5.62 | $5.62 | $4.51 | $3.46 |
Growth | 17.0% | 79.1% | 40.2% | 13.8% | 24.8% | | 30.4% | 19.3% |
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Dividends per share [+] | $3.80 | $2.98 | $2.29 | $2.10 | $1.72 | $1,720.00 | $1.42 | $1.19 |
Growth | 27.5% | 30.1% | 9.0% | 22.1% | 21.1% | | 19.3% | 19.0% |
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Shares outstanding (basic) [+] | 39.4 | 39.9 | 40.1 | 39.8 | 40.3 | 40.3 | 40.8 | 41.9 |
Growth | -1.2% | -0.6% | 0.7% | -1.2% | -1.3% | | -2.5% | -2.9% |
Shares outstanding (diluted) [+] | 39.8 | 40.5 | 40.9 | 40.9 | 41.7 | 41.7 | 42.4 | 43.0 |
Growth | -1.7% | -0.9% | 0.0% | -2.0% | -1.8% | | -1.2% | -2.9% |
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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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