Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 3,215.4 | 2,706.7 | 2,406.9 | 2,213.2 | 1,969.1 | 1,775.4 | 1,601.9 | 1,485.8 |
Revenue growth | 18.8% | 12.5% | 8.8% | 12.4% | 10.9% | 10.8% | 7.8% | 7.9% |
Cost of goods sold | 1,325.9 | 1,135.6 | 1,041.4 | 971.7 | 871.7 | 800.0 | 711.6 | 669.7 |
Gross profit | 1,889.4 | 1,571.0 | 1,365.5 | 1,241.5 | 1,097.4 | 975.4 | 890.3 | 816.1 |
Gross margin | 58.8% | 58.0% | 56.7% | 56.1% | 55.7% | 54.9% | 55.6% | 54.9% |
Sales and marketing | 486.7 | 434.4 | 418.2 | 387.4 | 354.3 | 317.1 | 300.0 | 283.7 |
Research and development | 161.0 | 141.2 | 133.2 | 117.9 | 109.2 | 101.1 | 99.7 | 98.3 |
General and administrative | 309.7 | 300.8 | 261.3 | 244.9 | 220.9 | 207.0 | 182.5 | 173.9 |
EBITA | 946.1 | 704.3 | 562.2 | 500.2 | 422.0 | 359.7 | 318.5 | 270.1 |
EBITA margin | 29.4% | 26.0% | 23.4% | 22.6% | 21.4% | 20.3% | 19.9% | 18.2% |
Amortization of intangibles | 12.1 | 9.8 | 9.4 | 8.9 | 9.0 | 9.5 | 10.4 | 9.8 |
EBIT | 934.0 | 694.5 | 552.8 | 491.3 | 413.0 | 350.2 | 308.1 | 260.3 |
EBIT margin | 29.0% | 25.7% | 23.0% | 22.2% | 21.0% | 19.7% | 19.2% | 17.5% |
Pre-tax income | 902.7 | 662.0 | 522.2 | 457.7 | 381.1 | 321.8 | 273.1 | 246.6 |
Income taxes | 157.8 | 79.9 | 94.4 | 80.7 | 117.8 | 99.8 | 81.0 | 64.6 |
Tax rate | 17.5% | 12.1% | 18.1% | 17.6% | 30.9% | 31.0% | 29.7% | 26.2% |
Net income | 744.8 | 581.8 | 427.7 | 377.0 | 263.1 | 222.0 | 192.1 | 181.9 |
Net margin | 23.2% | 21.5% | 17.8% | 17.0% | 13.4% | 12.5% | 12.0% | 12.2% |
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Diluted EPS | $8.60 | $6.71 | $4.89 | $4.26 | $2.94 | $2.44 | $2.05 | $1.79 |
Shares outstanding (diluted) | 86.6 | 86.7 | 87.5 | 88.5 | 89.6 | 90.9 | 93.6 | 101.5 |
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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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