Abbott Laboratories (ABT) FY2016 results: revenue $20.9 billion, up 2.2% on the year
Abbott Laboratories (ABT) reported revenue of $20.9 billion for fiscal 2016, the year ended 31 December 2016, up 2.2% on the year before. Net income was $1.4 billion, down 68.3%, and diluted earnings per share $0.94. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$20.9 billion
+2.2% on the year
FY2009FY2016
Operating margin
14.5%
14.1% a year earlier
FY2009FY2016
Net income
$1.4 billion
-68.3% on the year
FY2009FY2016
Diluted EPS
$0.94
-67.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
20,853
20,405
20,247
+2.2%
Cost of revenue
9,094
8,747
9,218
+4.0%
Gross profit
11,759
11,658
11,029
+0.9%
Gross margin
56.4%
57.1%
54.5%
Research and development
1,447
1,405
1,345
+3.0%
Selling, general and administrative
6,736
6,785
6,530
-0.7%
Operating income
3,026
2,867
2,599
+5.5%
Operating margin
14.5%
14.1%
12.8%
Interest expense
431
163
150
+164.4%
Pre-tax income
1,413
3,183
2,518
-55.6%
Income tax
350
577
797
-39.3%
Effective tax rate
24.8%
18.1%
31.7%
Net income
1,400
4,423
2,284
-68.3%
Net margin
6.7%
21.7%
11.3%
Diluted EPS
$0.94
$2.92
$1.49
-67.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,203
2,966
3,675
+8.0%
Capital expenditure
1,121
1,110
1,077
+1.0%
Free cash flow
2,082
1,856
2,598
+12.2%
Free cash flow margin
10.0%
9.1%
12.8%
Cash from investing
-248
406
-202
Cash from financing
11,147
-2,236
-2,742
Depreciation and amortisation
1,353
1,472
1,548
-8.1%
Share-based compensation
310
292
246
+6.2%
Buybacks
522
2,237
2,195
-76.7%
Dividends paid
1,539
1,443
1,342
+6.7%
Diluted shares, weighted
1,483m
1,506m
1,527m
-1.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
20,538
21,211
21,526
-3.2%
Non-controlling interest
179
115
113
+55.7%
Debt
22,006
9,001
7,830
+144.5%
Other liabilities
9,943
10,920
11,806
-8.9%
Total liabilities and equity
52,666
41,247
41,275
+27.7%
Fixed assets
5,705
5,730
5,935
-0.4%
Goodwill
7,683
9,638
10,067
-20.3%
Intangible assets
4,539
5,562
6,198
-18.4%
Investments
3,102
5,165
626
-39.9%
Cash and equivalents
18,620
5,001
4,063
+272.3%
Receivables
3,248
3,418
3,586
-5.0%
Inventory
2,434
2,599
2,643
-6.3%
Other assets
7,335
4,134
8,157
+77.4%
Total assets
52,666
41,247
41,275
+27.7%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.