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 | 3,343.7 | 2,080.5 | 1,647.1 | 1,488.2 | 1,327.8 | 1,215.8 | 1,103.2 | 1,023.3 |
Revenue growth | 60.7% | 26.3% | 10.7% | 12.1% | 9.2% | 10.2% | 7.8% | 9.6% |
Cost of goods sold | 226.3 | 133.6 | 104.6 | 88.6 | 66.3 | 322.9 | 286.1 | 291.6 |
Gross profit | 3,117.4 | 1,946.9 | 1,542.5 | 1,399.6 | 1,261.5 | 892.8 | 817.1 | 731.7 |
Gross margin | 93.2% | 93.6% | 93.6% | 94.0% | 95.0% | 73.4% | 74.1% | 71.5% |
General and administrative | 138.5 | 97.0 | 73.2 | 66.5 | 84.1 | 58.4 | 52.0 | 49.3 |
EBIT | 1,392.4 | 815.3 | 853.4 | 771.4 | 662.2 | 545.1 | 560.4 | 531.7 |
EBIT margin | 41.6% | 39.2% | 51.8% | 51.8% | 49.9% | 44.8% | 50.8% | 52.0% |
Pre-tax income | 917.6 | 392.4 | 411.2 | 443.6 | 369.9 | 325.4 | 319.7 | 288.0 |
Income taxes | 45.2 | 31.7 | 14.7 | 6.2 | 5.3 | 6.0 | 3.3 | 3.2 |
Tax rate | 4.9% | 8.1% | 3.6% | 1.4% | 1.4% | 1.9% | 1.0% | 1.1% |
Net income | 869.4 | 359.5 | 395.5 | 436.5 | 363.6 | 301.5 | 288.5 | 256.7 |
Net margin | 26.0% | 17.3% | 24.0% | 29.3% | 27.4% | 24.8% | 26.2% | 25.1% |
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Diluted EPS | $1.42 | $0.87 | $1.14 | $1.38 | $1.25 | $1.10 | $1.13 | $1.09 |
Shares outstanding (diluted) | 612.2 | 414.8 | 345.4 | 316.2 | 289.9 | 273.9 | 255.6 | 236.2 |
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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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