NXP Full-Year Report 2022
“NXP delivered full-year 2022 revenue of $13.21 billion, an increase of 19 percent year-on-year, with revenue increasing across all of our focus end-markets. In the fourth quarter, revenue was $3.31 billion, an increase of 9 percent year-onyear, in line with the mid-point of our guidance range. In review, 2022 was a very good year for NXP, with strong execution resulting in record revenue, solid profit growth, and healthy free cash flow generation. Additionally, we experienced unprecedented year-on-year design win traction across the entire portfolio. From an end-market perspective, our automotive business performed very well, while in our consumer IoT and mobile businesses we experienced a softening demand environment through the second half of 2022. Accordingly, we have adopted a vigilant operational stance, aiming to improve service to those customers who continue to experience material shortages while managing the distribution channel inventory levels well below our long-term targets,” said Kurt Sievers, NXP President and Chief Executive Officer.
Key Highlights for the Fourth Quarter and Full-year 2022:
- Fourth Quarter revenue was $3.31 billion, up 9.0 percent year-on-year. Full-year revenue was $13.21 billion, up 19.4 percent year-on-year;
- Fourth Quarter GAAP gross margin was 57.1 percent, and GAAP operating margin was 29.6 percent. Full-year GAAP gross margin was 56.9 percent, and GAAP operating margin was 28.8 percent;
- Fourth Quarter non-GAAP gross margin was 58.0 percent, and non-GAAP operating margin was 36.5 percent. Full-year non-GAAP gross margin was 57.9 percent, and non-GAAP operating margin was 36.3 percent;
- Fourth Quarter cash flow from operations was $1,076 million, with net capex investments of $233 million, resulting in non-GAAP free cash flow of $843 million. Full-year cash flow from operations was $3,895 million, with net capex investments of $1,061 million, resulting in non-GAAP free cash flow of $2,834 million;
- During the fourth quarter of 2022, NXP repurchased 3.16 million shares for a total cost of $475 million and paid cash dividends of $221 million, returning $696 million to shareholders. On a trailing twelve month basis capital return to shareholders represented $2.24 billion or 79 percent of non-GAAP free cash flow
