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 | 2,166.8 | 2,064.9 | 1,994.8 | 1,916.5 | 1,854.7 | 1,741.3 | 1,629.8 | 1,495.8 |
Revenue growth | 4.9% | 3.5% | 4.1% | 3.3% | 6.5% | 6.8% | 9.0% | 7.3% |
Cost of goods sold | 258.1 | 226.5 | 215.4 | 201.4 | 213.0 | 202.0 | 189.1 | 176.5 |
Gross profit | 1,908.7 | 1,838.4 | 1,779.4 | 1,715.1 | 1,641.7 | 1,539.3 | 1,440.8 | 1,319.3 |
Gross margin | 88.1% | 89.0% | 89.2% | 89.5% | 88.5% | 88.4% | 88.4% | 88.2% |
Sales and marketing | 597.8 | 569.9 | 552.7 | 500.9 | 433.4 | 420.5 | 359.8 | 306.4 |
Research and development | 292.7 | 252.8 | 239.2 | 211.5 | 192.4 | 178.4 | 149.3 | 133.3 |
General and administrative | 110.7 | 111.5 | 105.7 | 88.9 | 92.0 | 88.1 | 92.0 | 78.6 |
EBITA | 917.6 | 912.4 | 889.1 | 918.2 | 927.7 | 856.1 | 843.3 | 803.2 |
EBITA margin | 42.3% | 44.2% | 44.6% | 47.9% | 50.0% | 49.2% | 51.7% | 53.7% |
Amortization of intangibles | 10.1 | 8.2 | 7.3 | 4.4 | 3.8 | 3.9 | 3.6 | 2.1 |
EBIT | 907.5 | 904.2 | 881.8 | 913.8 | 923.9 | 852.3 | 839.7 | 801.1 |
EBIT margin | 41.9% | 43.8% | 44.2% | 47.7% | 49.8% | 48.9% | 51.5% | 53.6% |
Pre-tax income | 949.6 | 970.8 | 962.4 | 978.9 | 970.9 | 896.7 | 873.8 | 829.8 |
Income taxes | 134.0 | 124.2 | 136.7 | 157.6 | 168.0 | 171.8 | 187.9 | 170.2 |
Tax rate | 14.1% | 12.8% | 14.2% | 16.1% | 17.3% | 19.2% | 21.5% | 20.5% |
Net income | 815.6 | 846.6 | 825.7 | 821.3 | 802.9 | 724.8 | 685.9 | 659.6 |
Net margin | 37.6% | 41.0% | 41.4% | 42.9% | 43.3% | 41.6% | 42.1% | 44.1% |
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Diluted EPS | $6.08 | $5.96 | $5.43 | $5.15 | $4.82 | $4.18 | $3.74 | $3.43 |
Shares outstanding (diluted) | 134.1 | 142.0 | 152.1 | 159.4 | 166.6 | 173.3 | 183.6 | 192.3 |
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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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