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 | 10,537.0 | 7,069.0 | 3,974.0 | 2,296.3 | 1,439.7 | 1,216.5 | 844.4 | 651.8 |
Revenue growth | 49.1% | 77.9% | 73.1% | 59.5% | 18.3% | 44.1% | 29.6% | 17.1% |
Cost of goods sold | 2,891.0 | 1,686.0 | 982.0 | 3,282.4 | 2,004.0 | 1,367.1 | 820.8 | 171.3 |
Gross profit | 7,646.0 | 5,383.0 | 2,992.0 | -986.1 | -564.4 | -150.5 | 23.6 | 480.5 |
Gross margin | 72.6% | 76.1% | 75.3% | -42.9% | -39.2% | -12.4% | 2.8% | 73.7% |
Sales and marketing | 1,296.0 | 1,074.0 | 768.0 | 834.0 | 482.4 | 325.4 | 156.3 | 128.6 |
Research and development | 1,099.0 | 590.0 | 353.0 | | | | 98.5 | 76.4 |
General and administrative | 661.0 | 465.0 | 327.0 | | | | 87.3 | 76.3 |
EBITA | 1,043.0 | 447.0 | 133.0 | -2,237.5 | -1,324.8 | -895.2 | 198.8 | 158.6 |
EBITA margin | 9.9% | 6.3% | 3.3% | -97.4% | -92.0% | -73.6% | 23.5% | 24.3% |
Amortization of intangibles | 9.0 | 6.0 | 5.0 | 3.9 | 6.1 | 4.4 | 4.0 | 3.1 |
EBIT | 1,034.0 | 441.0 | 128.0 | -2,241.4 | -1,330.9 | -899.6 | 194.8 | 155.4 |
EBIT margin | 9.8% | 6.2% | 3.2% | -97.6% | -92.4% | -73.9% | 23.1% | 23.8% |
Pre-tax income | 780.0 | 241.0 | 81.0 | -107.2 | -65.5 | 54.1 | 185.3 | 150.5 |
Income taxes | 298.0 | -149.0 | 82.0 | 64.8 | -28.9 | 40.3 | 49.0 | 44.7 |
Tax rate | 38.2% | | 101.2% | | 44.1% | 74.5% | 26.4% | 29.7% |
Net income | 482.0 | 83.0 | -1.0 | -172.0 | -36.6 | 13.8 | 136.4 | 105.8 |
Net margin | 4.6% | 1.2% | 0.0% | -7.5% | -2.5% | 1.1% | 16.1% | 16.2% |
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Diluted EPS | $9.39 | $1.67 | ($0.02) | ($3.53) | ($0.82) | $0.31 | $3.09 | $2.40 |
Shares outstanding (diluted) | 51.3 | 49.8 | 49.7 | 48.7 | 44.5 | 44.2 | 44.2 | 44.2 |
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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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