VVV FY 2019 Earnings Report — Valvoline Inc. Revenue & Financial Results | Market Cap Arena

Valvoline Inc.VVV

FY 2019 Earnings

Reported November 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$2.4B	—	$2.3B	—	4.6%
Op. Income	$398M	—	$395M	—	0.8%
Gross Margin	33.9%	—	35.3%	—	-1.4pp
Net Margin	8.7%	—	7.3%	—	1.4pp
EPS (Diluted)	$1.10	—	$0.84	—	31.0%
Free Cash Flow	$217M	—	$227M	—	-4.4%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$810M
R&D Expenses	$13M
Selling & Marketing	$73M
General & Administrative	$376M
SG&A Expenses	$449M
Other Expenses	-$60M
Operating Expenses	$449M
Cost & Expenses	$2.0B
OPERATING INCOME	$398M
Interest Income	$0
Interest Expense	$73M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$265M
Income Tax Expense	$57M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$61M
EBIT	$321M
EBITDA	$382M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$810M
R&D Expenses	$13M
Selling & Marketing	$73M
General & Administrative	$376M
SG&A Expenses	$449M
Other Expenses	-$60M
Operating Expenses	$449M
Cost & Expenses	$2.0B
OPERATING INCOME	$398M
Interest Income	$0
Interest Expense	$73M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$265M
Income Tax Expense	$57M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$61M
EBIT	$321M
EBITDA	$382M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$208M
Depreciation & Amortization	$61M
Stock-Based Compensation	$9M
Deferred Income Tax	$23M
Other Non-Cash Items	$54M
Change in Working Capital	-$30M
OPERATING CASH FLOW	$325M
Capital Expenditure	-$108M
Acquisitions (Net)	-$78M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$188M
Net Debt Issuance	$18M
Common Stock Repurchased	$0
Common Dividends Paid	-$80M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$71M
FREE CASH FLOW	$217M
Net Change in Cash	$63M

Balance Sheet

Item	Amount
Cash & Equivalents	$159M
Short-Term Investments	$0
Net Receivables	$401M
Inventory	$194M
Other Current Assets	$43M
TOTAL CURRENT ASSETS	$797M
PP&E (Net)	$498M
Goodwill	$430M
Intangible Assets	$74M
Long-Term Investments	$34M
Tax Assets	$123M
Other Non-Current Assets	$108M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.1B
Account Payables	$171M
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	$237M
TOTAL CURRENT LIABILITIES	$423M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$517M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$2.3B
Common Stock	$2M
Additional Paid-In Capital	$13M
Retained Earnings	-$284M
Treasury Stock	$0
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$258M
Minority Interest	$0
TOTAL EQUITY	-$258M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$1.4B
Net Debt	$1.2B