Analog Devices (ADI) FY2015 results: revenue $3.4 billion, up 19.9% on the year
Analog Devices Inc. (ADI) reported revenue of $3.4 billion for fiscal 2015, the year ended 31 October 2015, up 19.9% on the year before. Net income was $697 million, up 10.7%, and diluted earnings per share $2.20. The figures are the company's own, from the 10-K it filed with the SEC on 24 November 2015.
Revenue
$3.4 billion
+19.9% on the year
FY2008FY2015
Operating margin
24.2%
26.3% a year earlier
FY2008FY2015
Net income
$697 million
+10.7% on the year
FY2008FY2015
Diluted EPS
$2.20
+11.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,435
2,865
2,634
+19.9%
Cost of revenue
1,176
1,035
941
+13.7%
Gross profit
2,259
1,830
1,692
+23.4%
Gross margin
65.8%
63.9%
64.3%
Research and development
637
560
513
+13.9%
Selling, general and administrative
479
455
396
+5.3%
Operating income
831
752
753
+10.4%
Operating margin
24.2%
26.3%
28.6%
Interest expense
27.0
34.8
27.1
-22.3%
Pre-tax income
810
729
815
+11.1%
Income tax
113
100
142
+13.2%
Effective tax rate
14.0%
13.7%
17.4%
Net income
697
629
673
+10.7%
Net margin
20.3%
22.0%
25.6%
Diluted EPS
$2.20
$1.98
$2.14
+11.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
908
872
912
+4.2%
Capital expenditure
154
178
123
-13.5%
Free cash flow
754
694
789
+8.7%
Free cash flow margin
21.9%
24.2%
30.0%
Cash from investing
-17.1
-115
-950
Cash from financing
-572
-577
-101
Depreciation and amortisation
222
142
110
+56.5%
Share-based compensation
68.9
50.8
56.9
+35.6%
Buybacks
227
356
60.5
-36.3%
Dividends paid
491
454
406
+8.1%
Dividend per share
$1.57
$1.45
$1.32
+8.3%
Diluted shares, weighted
317m
318m
314m
-0.4%
Shares outstanding at period end
312m
311m
311m
+0.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,073
4,758
4,740
+6.6%
Debt
870
873
872
-0.3%
Other liabilities
1,119
1,229
770
-8.9%
Total liabilities and equity
7,062
6,860
6,382
+3.0%
Fixed assets
644
622
508
+3.5%
Goodwill
1,637
1,642
284
-0.4%
Intangible assets
584
671
28.6
-13.1%
Investments
2,162
2,311
4,295
-6.4%
Cash and equivalents
884
569
392
+55.4%
Receivables
467
397
325
+17.6%
Inventory
412
368
283
+12.1%
Other assets
273
279
266
-2.2%
Total assets
7,062
6,860
6,382
+3.0%
10-K for the year ended 31 October 2015, filed 24 November 2015: the filing.