Short answer
Moog Inc (MOG-A) filed its fiscal 2019 10-K annual report with the SEC on Nov 12, 2019. It reported revenue of $2.9B (+7.2% year over year) and net income of $180M.
- Top risk flagged: U.S. government contracting rules: False claims or procurement violations could trigger fines, penalties, withheld payments, or debarment
FY2019 key financial metrics · XBRL
- Revenue
- $2.9B
- +7.2% YoY
- Net income
- $180M
- +86.3% YoY
- Operating margin
- 11.1%
- +1.5 pp YoY
- Gross margin
- 28.1%
- −0.4 pp YoY
- EPS (diluted)
- $5.11
- +90.7% YoY
- ROE
- 13.6%
- +5.7 pp YoY
- Operating cash flow
- $181M
- +77.2% YoY
Source: XBRL data from the Moog Inc (MOG-A) FY2019 10-K on SEC EDGAR. USD.
Moog Inc FY2019 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Precision motion and fluid-control designer, manufacturer and systems integrator serving aerospace, defense and industrial markets
- Three operating segments emphasized: Aircraft Controls, Space and Defense Controls, and Industrial Systems
- Twelve-month backlog $1.5 billion, up 1% year over year as of September 28, 2019
- R&D expense at least $125 million annually, approximately 4% of 2019 sales
- U.S. Government contracts represented 35% of total sales, underscoring government exposure
Management Discussion & Analysis
- Revenue $2.905B, up 7% YoY, with Space and Defense Controls strongest and Industrial Systems sales down 2%
- Gross margin 28.1% vs 28.6%, operating profit $321M, up 22%, net earnings $180M
- Space and Defense Controls operating margin 13.0% vs 11.6%, best segment; Industrial Systems margin 11.9% vs 6.9%
- Operating cash flow $181M, capex $118M, dividends $35M, share repurchases $23M for approximately 302,000 shares
- 2020 EPS guidance $5.35 to $5.75, with risks from slowing global economies, commercial aircraft declines and uncertain defense spending
Risk Factors
- U.S. government contracting rules: False claims or procurement violations could trigger fines, penalties, withheld payments, or debarment
- Trade tariffs: China-sourced materials face higher in-sourcing costs under escalating U.S. tariffs
- Supplier vulnerability: Delayed components or equipment parts could impair prime-contract performance
- Boeing concentration: Boeing represented 13% of 2019 sales, exposing results to production-rate declines or lost awarded content
- International exposure: United Kingdom operations represented approximately 7% of consolidated net sales amid Brexit uncertainty
Generated from the filing text; verify against the original. How to read a 10-K
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