Agilent Technologies, Inc. · NYSE:A
Agilent Technologies — Investor Day (December 2020)
81 slides from Agilent Technologies's investor day presentation, Dec 9, 2020
Slide 1: Agilent Technologies Analyst and Investor Day
Agilent Technologies Analyst and Investor Day December 9, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement These presentations contain forward-looking statements (including, without limitation, information, and future guidance on the company’s goals, priorities, revenue, revenue growth, earnings per share, operating margin, operating cash flow, capital expenditures, capital allocati
Slide 3: Today's Agenda
Today’s Agenda 17 mins Value Creation Model Mike McMullen Agilent’s “Build & Buy” Strategy What to Expect from Agilent 10 mins Financial Considerations Bob McMahon 20 mins Life Science & Applied Markets Jacob Thaysen (LSAG) 19 mins Agilent Cross Lab Group (ACG) Padraig McDonnell 17 mins Diagnostics
Slide 4: Mike McMullen, President and CEO
Agilent Technologies Analyst and Investor Day Mike McMullen President and Chief Executive Officer December 9, 2020
Slide 5: 2020 Summary: Agilent Technologies
2020 Summary: Agilent Technologies +6% Core $5.3B FY20 Revenue 23.5% FY20 Operating Margin (1) Q2 Q3 Revenue Growth(1)(2) +14% 5-year EPS CAGR (1) Q1 Q420 Leadership in Large and Growing End-Markets Chemical & Energy Pharma & Attractive Recurring 37% 21% Biotech Revenue Base Revenue 27% 36% Revenue
Slide 6: Agilent's Shareholder Value Creation Model
Agilent’s Shareholder Value Creation Model Above zMarket Operating Margin Balanced Capital Growth Expansion Deployment Working since 2015 Launch of the New Agilent 6
Slide 7: With our Build and Buy strategy, we have built large, high-growth businesses
With our Build and Buy strategy, we have built large, high-growth businesses on a strong core foundation $5.3B Bio-Pharma Tools 2015-2020 $4.0B 0.6B Cell Analysis NASD 80% of the $1.3B 0.1B revenue increase 1.9B Cross Lab from Services and 1.3B Consumables High Growth Markets Strong Core 2.5B 2.8B F
Slide 8: Agilent's Value Creation Model is Delivering
Agilent’s Value Creation Model is Delivering Above Market Growth(1) Operating Margin Expansion(2)(3) Superior Earnings Growth(2) 6% 500+ 14% BPS 23.5% CAGR Expansion CAGR $3.28 $5.3B 18.5% $4.0B $1.74 z FY15 FY20 FY15 FY20 FY15 FY20 REVENUE OPERATING MARGIN EARNINGS PER SHARE (1) Reported revenue gr
Slide 9: Looking Forward, Accelerating the Momentum
Looking Forward, Accelerating the Momentum
Slide 10: Agilent Competes in Large, Attractive Markets
Agilent Competes in Large, Attractive Markets With Market Leadership in Key Technologies and Service Capability CLINICAL & A&G ENVIRONMENT CHEMICAL & PHARMA FOOD DIAGNOSTICS RESEARCH & FORENSICS ENERGY The $58B Opportunity(1) $17B $13B $12B $5B $6B $5B Market Growing 3-5%(2) LIFE SCIENCE AGILENT DIA
Slide 11: Agilent's Build and Buy Growth Strategy
Agilent’s “Build and Buy” Growth Strategy Accelerate our momentum in attractive market opportunities z z z Transform Gain Share Enter and Expand Analytical Lab Cancer Diagnostics & High Growth Markets Genomics ▪ Innovation Strategic Enablers ▪ Digital ▪ M&A ▪ Geographic Penetration One Agilent Cultu
Slide 12: Agilent Leading the Transformation of the Analytical Lab
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Agilent Leading the Transformation of the Analytical Lab $45B(1) Market Seeks Innovative Scientific Outcomes from Efficient, Digitally Connected Labs Leading scientific Efficient operation
Slide 13: Gain Share in Cancer Diagnostics and Genomics
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Gain Share in Cancer Diagnostics and Genomics Building on our market leadership Expand menu on leading automated staining platform Leverage IHC-based CDx leadership Cancer to expand partne
Slide 14: Enter and expand our presence in high growth markets
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Enter and expand our presence in high growth markets while leveraging our core capabilities Biopharma Tools, Cell Analysis, NASD z Enter and Expand Presence In High Growth Markets COVID Op
Slide 15: Expanding our strong foundation in the Biopharma Value Chain
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Expanding our strong foundation in the Biopharma Value Chain $0.6B in revenue today, growing at double digits Disease Research, Bioprocess Clinical Bioprocessing Agilent’s Broad Portfolio
Slide 16: Accelerating growth in Biopharma through Oligo CDMO capability
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Accelerating growth in Biopharma through Oligo CDMO capability Building on Strengths, Expanding Capacity in a High Growth Market Agilent Strengths Fast Growing Market Expertise and Knowled
Slide 17: Capitalizing on the Cell Analysis opportunity
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Capitalizing on the Cell Analysis opportunity $300M+ Business with Scale, growing double-digits $5B TAM(1) Portfolio well Broad Cell Analysis portfolio positioned to address fast growing a
Slide 18: Agilent COVID-19 Response
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Agilent COVID-19 Response Supporting research, testing and the development of therapies and vaccines Existing Offerings Opportunities Agilent qPCR instrument and related reagents Serology
Slide 19: Agilent's Differentiated Capabilities
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Agilent’s Differentiated Capabilities Driving our “Build and Buy” Strategy z z z Transform Gain Share Enter and Expand Analytical Lab Cancer Diagnostics & High Growth Markets Genomics ▪ In
Slide 20: Aggressive Investment in Digital
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Aggressive Investment in Digital Focus on the Lab, Business Ecosystem, and Operations Improved Customer Interaction Responsiveness and Convenience “Anytime, anywhere” Growth New Customer C
Slide 21: M&A focused on high-growth, profitable businesses
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers M&A focused on high-growth, profitable businesses in our markets Investing for the future Market Focus $2.5B z Deployed since FY15 Cell Analysis Strategic Owner 8% of FY20 Revenue z Enabli
Slide 22: China: we plan to capitalize on attractive growth opportunities
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers China: we plan to capitalize on attractive growth opportunities China 20% of Agilent’s revenue today… Building on Strength • Leading digital capabilities …with unique • Expanding scale and
Slide 23: One Agilent culture our secret sauce
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers One Agilent culture our secret sauce One Team - Aligned and Energized Customer Focus Winning in the Market 23
Slide 24: What to Expect from Agilent
What to Expect from Agilent Above zMarket Operating Margin Balanced Capital Growth Expansion Deployment Innovation leader Agile Agilent business system Invest in business Differentiated value proposition Productivity gains M&A focus prioritized on growth Global scale Robust quality Share repurchases
Slide 25: Bob McMahon, Chief Financial Officer
Analyst and Investor Day Bob McMahon Chief Financial Officer December 9, 2020
Slide 26: Agilent's shareholder value creation model
Agilent’s shareholder value creation model Above zMarket Operating Margin Balanced Capital Growth Expansion Deployment Invest in business Innovation leader Agile Agilent business system M&A focus prioritized on growth Differentiated value proposition Productivity gains Share repurchases Global scale
Slide 27: Build and Buy strategy built large high-growth businesses on a strong core
With our Build and Buy strategy, we have built large high-growth businesses on a strong core foundation $4B 6% CAGR $5.3B Projected Core Growth Bio-Pharma Tools High-Single to 0.6B Cell Analysis 41% NASD Double Digits CAGR 0.1B Cross Lab Mid to High-Single 7% 1.9B services and 1.3B CAGR consumables
Slide 28: Durable Franchise with a Resilient Business Model
And have built a Durable Franchise with a Resilient Business Model 58% 54% 46% 42% Non- Non- Instruments instruments Instruments instruments 2014 % of Revenue by Type(1) 2020 Higher Growth, Less Cyclical Revenue (1) In all years, revenue mix reflects “revenue type” attribution consistent with 2019 1
Slide 29: Resilience of our business model during the pandemic
The resilience of our business model was demonstrated during the pandemic Global GDP Growth (1) Agilent Core Revenue Growth (2)(3) 0.9% FY20 – COVID-19 Pandemic -4.0% -2.0% FY09 – Global Financial Crisis -1.7% (1) GDP Data Source : IMF, FY20 Projections as of Nov’2020 (2) FY09 Revenue for Agilent’s
Slide 30: Investing aggressively for technology leadership and scale
We continue to invest aggressively for technology leadership and scale in our chosen markets ~$400 M(1) $300+ M Annual R&D Spend Capex for NASD build out Technology Leadership and Scale Faster Growth Markets Leadership in emerging businesses (1) Presented on a non-GAAP basis, reconciliations to clos
Slide 31: Investing in key enablers of above-market growth
And investing in key enablers of above-market growth while leveraging One-Agilent eco-system and we take agile approach with customer-centric Full power of One-Agilent ecosystem drives global scale business models 27% Europe FY20 Revenue 37% Technology Mobile FY20 Revenue Subscriptions Commerce Amer
Slide 32: High-quality earnings growth from revenue growth and margin expansion
Our approach to drive high-quality earnings growth is built on strong revenue growth and organic margin expansion Significant organic High quality earnings growth(1) driven margin(1) expansion by revenue and margins $3.28 23.5% 14% EPS CAGR 15% Share Repurchase 18.5% 85% Net Income growth $1.74 FY15
Slide 33: Increased capital deployment over last 6 years
We have increased our capital deployment in last 6 years – focused on M&A in faster growth markets and increased returns to shareholders % of Operational Cash Flow 119% 100% 170% Net Leverage (1) (-0.4x) (-0.4x) 0.7x $3.3B M&A $2.0B SHARE REPURCHASES $1.6B DIVIDENDS CAPEX FY15-FY16 FY17-FY18 FY19-FY
Slide 34: Balanced capital deployment generating high shareholder returns
And this balanced capital deployment has successfully generated high returns for our shareholders Our M&A Investments have added We provide best dividend income in Our share repurchase program has profitable high-growth businesses to our sector generated excellent returns our portfolio Dividend/shar
Slide 35: Positions us for strong revenue and earnings growth
Positions us for strong revenue and earnings growth annually Above zMarket Operating Margin Balanced Capital Growth Expansion Deployment 5% - 7% 50bps-100bps(1) continued Core(1)(2) Result: Double Digit EPS Growth (1) Operating model over next 3-5 years. Does not represent FY21 guidance; (2) Core re
Slide 36: Life Science and Applied Markets Group
Agilent Analyst and Investor Day Life Science and Applied Markets Group Jacob Thaysen, LSAG President
Slide 37: 2020 Summary: Life Science and Applied Markets Group
2020 Summary: Life Science and Applied Markets Group $2.4B FY20 Revenue 23% FY20 Operating Margin(1) -2% FY20 Core Revenue Growth (1)(2) 4% Revenue 5-year CAGR +4% reported Global footprint (3) 33% Revenue 22% 45% Revenue Revenue (1) Presented on a non-GAAP basis, reconciliations to closest GAAP equ
Slide 38: Agilent: The Analytical Market Leader
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Agilent: The Analytical Market Leader Pharma Chemical and energy Food Environmental Diagnostics Research and forensics 9% R&D as % of +600k Industry leading +260k Customer Labs FY20 Revenue(1) installed base
Slide 39: Our Solutions Improve Quality of Life
Our Solutions Improve Quality of Life First child to get CAR-T therapy from Agilent’s focus on sustainability and Agilent customer Dr. Detlef Knappe Carl June Group climate change makes a difference I told Emily we’ll crawl to the North UC Davis using Agilent GC/LC-QTOF PFAS contamination in Cape Fe
Slide 40: Responding to customer needs through the pandemic
Responding to customer needs through the pandemic Leveraging strong capabilities across Agilent delivering on our customer promise through the pandemic Best in class customer experience Serving our customers in difficult times Remote Sales and Service Support Therapy and Diagnostic vaccine testing d
Slide 41: Ahead of changing customer expectations
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Ahead of changing customer expectations From leadership in The Journey of To differentiation in scientific answers the Analytical Lab outcomes-based solutions 41
Slide 42: Leading the Transition to the Digital Lab
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Leading the Transition to the Digital Lab Cloud enabled Multi- Dashboards Technique Sample Analysis Entry Customer Sample Confidence Collection Sample ICPMS Prep GCMS LC 42
Slide 43: Digital Lab
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Digital Lab An Ecosystem for Improving Efficiency and Insights Analytical Insights Time to Value Lab Productivity We are leading the transformation SLIMS Smart Alerts 43
Slide 44: Smart Instruments: Agilent ICP-OES
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Smart Instruments: Agilent ICP-OES Driving ease-of-use and productivity Portfolio of smart Addressing Evolving Customer Needs connected instruments Build in unique Heat Map visualization tools and Artificial
Slide 45: End to End Workflow Automation
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets End to End Workflow Automation eMethods Enabling New Ease-of-Use Workflow Power and Simplicity eMethod and Eliminate Manual Data Entry Directly Download eMethod to Instrument Application Store Expert consult
Slide 46: Biopharma: A Key Growth Driver
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Biopharma: A Key Growth Driver Automated Multi-dimensional LC Workflow $3.0B (1) 10% (2) ~70% of current LSAG 1D mAb Titer 2D Size Exclusion Life science CAGR R&D investment tools Market 3D Continued expansi
Slide 47: Leadership position in Live Cell Analysis
Transform the Cancer Diagnostics Presence in High Analytical Lab and Genomics Growth Markets Leadership position in Live Cell Analysis Successful Playing in attractive high A strong portfolio playing key roles in M&A strategy growth markets areas impacting all of our lives +$300M +$5B (1) ~10% FY20
Slide 48: Leading the transformation of the Digital Lab
Leading the transformation of the Digital Lab Leading the Winning solutions Best Team in the Transformation of for a Safe and Industry + Strong the Digital Lab Healthy Future Company Culture 48 Agilent Investor Day 2020 LSAG Update
Slide 49: Agilent CrossLab Group
Agilent Analyst and Investor Day Agilent CrossLab Group Padraig McDonnell, President
Slide 50: 2020 Summary: Agilent CrossLab Group
2020 Summary: Agilent CrossLab Group $1.9BFY20 Revenue 27% FY20 Operating +4% FY20 Core Revenue +7% Revenue 5-year CAGR Margin(1) Growth (1)(2) Global footprint(3) Consumables 36% Revenue(3) 35% Revenue 28% Revenue 37% Revenue Services 64% Revenue(3) (1) Presented on a non-GAAP basis, reconciliation
Slide 51: Market Leadership
Market Leadership Serving Key Growth Industries(1) Pharma Chemical & Energy Food Environmental Diagnostics Research (37%) (27%) (12%) & Forensics (13%) (4%) (7%) Laboratory Enterprise Delivering innovative, integrated solutions that Chemistries & Consumables Solutions improve the science and economi
Slide 52: ACG Plays a Significant Role in Build and Buy Growth Strategy
ACG Plays a Significant Role in Agilent’s “Build and Buy” Growth Strategy z z z Transform The Gain Share In Cancer Enter and Expand Diagnostics And Presence In High Analytical Lab Genomics Growth Markets Customer Lifetime Value Installed Base Advantage Biopharma Lab Optimization Services Strategy Ch
Slide 53: COVID-19 Pandemic Accelerated our Digital Strategy
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers COVID-19 Pandemic Accelerated our Digital Strategy Customers responded quickly and positively to increased online and remote services Technical Support Education • Virtual Assist Remote Su
Slide 54: Customer Lifetime Value
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Customer Lifetime Value Leading solutions provider to the entire lab; strong customer loyalty & recurring revenue stream CrossLab Onsite Inventory & Asset Utilization Instruments Method De
Slide 55: Installed Base Advantage
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Installed Base Advantage Growing connect rate 1% produces additional ~ $30M of revenue per year Install Base Connection Smart Portfolio Expansion Global Services Scale • Opportunity to imp
Slide 56: Agilent Service Delivery Advantage
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Agilent Service Delivery Advantage Our unique global scale delivers superior customer service and brand loyalty ACG Advantage • Global reach and scale: 4,500 people in 28 countries, includ
Slide 57: Lab Optimization Services Strategy
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Lab Optimization Services Strategy Delivering next-generation services to enhance lab productivity and economics Operational and Visibility and Simplification Business Transformation Econo
Slide 58: Digital Customer Experience
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Digital Customer Experience Pandemic affirmed investment strategy: 2/3 of consumables transactions through digital channel; online experience attracts new customers and delivers reliable r
Slide 59: Business Model Innovation
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Business Model Innovation Penetrating new and emerging markets, accessing customers at different price points, and growing through global expansion Subscriptions: Industry-first model prov
Slide 60: Biopharma
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers Biopharma Partnering with customers to reduce cost & time-to-market of new biotherapeutics Workflows ACG Success Story Emerging workflows for analytics in cell & gene therapy Customer: Con
Slide 61: China
Transform the Cancer Diagnostics Presence in High Strategic Analytical Lab and Genomics Growth Markets Enablers China Large installed base, digitally enabled services and brand loyalty continue to drive double-digit growth $347M ACG Advantage • Installed base opportunity: Maximize connect rate • Dig
Slide 62: We deliver results
Producing a We deliver Our execution growing, Our future is results is unmatched recurring bright revenue stream 62
Slide 63: Diagnostics and Genomics Group
Agilent Analyst and Investor Day Diagnostics and Genomics Group Sam Raha, President
Slide 64: 2020 Summary: Diagnostics and Genomics Group (DGG)
2020 Summary: Diagnostics and Genomics Group (DGG) $1.0BFY20 Revenue 18% +3% FY20 Core Revenue Growth(1)(2) +7% Revenue 5-year CAGR FY20 Operating Margin(1) Global footprint (3) Pathology Nucleic Acid Solutions Global Reach MFG Scale & 50% Delivery Revenue 35% 15% Revenue Revenue DGG Trusted Partner
Slide 65: Leveraging position of strength to capture high growth opportunities
Leveraging position of strength to capture high growth opportunities High growth market opportunities A global, collaborative team, committed to our relationships Pharma Diagnostics Academia & Government 11% R&D as % of +29k Installed Base +18k Customer Labs FY20 Revenue(1) of Systems Empowering cus
Slide 66: DGG Plays a Significant Role in Build and Buy Growth Strategy
DGG Plays a Significant Role in Agilent’s “Build and Buy” Growth Strategy Commercial reach to Cancer testing Premium BioPharma CDMO labs globally capabilities Unmatched Companion Dx global China expansion registration capabilities COVID-19 support Market leading custom NGS(1) design and manufacturin
Slide 67: Gaining share in cancer diagnostics in partnership with Biopharma
Gaining share in cancer diagnostics Cancer Diagnostics and Genomics in partnership with Biopharma Agilent has leveraged robust technology and a customized co-development process to enable the development of leading companion diagnostic solutions 1 PD-L1 IHC 22C3 pharmDx st PD-L1 companion diagnostic
Slide 68: Agilent's pathology business is driving above market growth
Agilent’s pathology business is driving Cancer Diagnostics and Genomics above market growth in cancer diagnostics Expanding menu of high value assays informing treatment decisions PD-L1 on Dako Omnis delivering patient-centric results Supplying thousands of labs in over 85 countries Partnering to pr
Slide 69: Investing in China to drive substantial growth
Strategic Enablers Investing in China to drive substantial growth Operational capability: Customer enablement: Established direct importation of Dx products Opened genomics applications center of excellence Expanding manufacturing footprint to reduce NGS Launching pathologist PD-L1 training program
Slide 70: Seizing on leadership in high growth genomics markets
Cancer Diagnostics Seizing on leadership in high growth genomics markets and Genomics Genomics QC leadership NGS target enrichment leadership Applications expansion Continuing to innovate High performance single-guide RNA Gold standard platforms for DNA and SureSelect chemistry utilized for CRISPR-b
Slide 71: Supporting the combat of COVID-19 globally
Presence in High Supporting the combat of COVID-19 globally Growth Markets Delivering instruments, bioreagents and expertise to support customers in COVID-19 research, development and testing Therapy and Diagnostic vaccine Agilent COVID-19 testing serology test development and test and production de
Slide 72: Investing and taking share in nucleic acid-based therapeutics
Aggressively investing and taking share Presence in High Growth Markets in nucleic acid-based therapeutics Market dynamics Adding capacity to meet growing demand Market structure evolution Frederick; one of the largest GMP nucleic acids production sites. There are a small number of GMP-grade supplie
Slide 73: NASD leveraging differentiated capabilities to accelerate growth
Presence in High NASD leveraging differentiated capabilities Growth Markets to accelerate growth Agilent differentiation Capturing the growth opportunity Expertise and Knowledge Supporting customers’ journey from clinical Agilent has a long history of oligonucleotide through commercial phase synthes
Slide 74: Delivering today and poised for growth tomorrow
Diagnostics and Genomics Group Delivering today and poised for growth tomorrow Proven business Leadership team with Sustained growth performance and strong domain knowledge through compelling portfolio addressing capabilities and execution experience attractive markets 74
Slide 75: Trusted Answers
tS Agilent Trusted Answers
Slide 76: Reconciliations of Revenue Excluding Acquisitions and Divestitures (Core)
AGILENT TECHNOLOGIES, INC. RECONCILIATIONS OF REVENUE EXCLUDING ACQUISITIONS AND DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE) (in millions) (Unaudited) Year Ended Year Ended Year Ended Year Ended October 31, October 31, October 31, October 31, % % % % FY20 FY19 Growth FY19 FY18 Growth
Slide 77: Reconciliation of Adjusted Non-GAAP Income from Operations and Margins
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF ADJUSTED NON-GAAP INCOME FROM OPERATIONS AND OPERATING MARGINS (In millions, except margin data) (Unaudited) FY20 Operating FY19 Operating FY18 Operating FY17 Operating Margin % Margin % Margin % Margin % Agilent GAAP Revenue $ 5,339 $ 5,163 $ 4,914 $ 4,4
Slide 78: Non-GAAP Net Income and Diluted EPS Reconciliations
AGILENT TECHNOLOGIES, INC. NON-GAAP NET INCOME AND DILUTED EPS RECONCILIATIONS (In millions, except per share amounts) (Unaudited) FY20 FY19 FY18 FY17 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS GAAP net income $ 719 $ 2.30 $ 1,071 $ 3.37 $ 316 $ 0.97
Slide 79: Reconciliation of Non-GAAP Income from Operations to Reportable Segments
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF ADJUSTED NON-GAAP INCOME FROM OPERATIONS AND INCOME FROM OPERATIONS TO REPORTABLE SEGMENTS AND OPERATING MARGINS (In millions, except margin data) (Unaudited) Operating FY20 Margin % Revenue: Life Sciences and Applied Markets Group (LSAG) $ 2,392 Agilent
Slide 80: Reconciliations of Revenue by Segment (Core)
AGILENT TECHNOLOGIES, INC. RECONCILIATIONS OF REVENUE BY SEGMENT EXCLUDING ACQUISITIONS AND DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE) (in millions) (Unaudited) Life Sciences and Applied Markets Group Diagnostics and Genomics Group Agilent CrossLab Group (LSAG) (DGG) (ACG) Year Ended
Slide 81: Net Debt to Adjusted EBITDA Calculation
AGILENT TECHNOLOGIES, INC. NET DEBT TO ADJUSTED EBITDA CALCULATION (in millions, except ratio data) (Unaudited) As of As of As of As of As of October 31, October 31, October 31, October 31, October 31, 2020 2019 2018 2017 2016 Long-term debt $ 2,284 $ 1,971 $ 1,799 $ 1,801 $ 1,904 Short-term debt 75