Analog Devices (ADI) FY2017 results: revenue $5.2 billion, up 53.3% on the year
Analog Devices Inc. (ADI) reported revenue of $5.2 billion for fiscal 2017, the year ended 28 October 2017, up 53.3% on the year before. Net income was $805 million, down 6.5%, and diluted earnings per share $2.07. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2018.
Revenue
$5.2 billion
+53.3% on the year
FY2010FY2017
Operating margin
22.2%
30.0% a year earlier
FY2010FY2017
Net income
$805 million
-6.5% on the year
FY2010FY2017
Diluted EPS
$2.07
-25.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,246
3,421
3,435
+53.3%
Cost of revenue
2,078
1,194
1,176
+74.0%
Gross profit
3,168
2,227
2,259
+42.3%
Gross margin
60.4%
65.1%
65.8%
Research and development
969
654
637
+48.1%
Selling, general and administrative
691
461
479
+49.8%
Operating income
1,163
1,028
831
+13.1%
Operating margin
22.2%
30.0%
24.2%
Interest expense
251
88.8
27.0
+182.6%
Pre-tax income
935
957
810
-2.3%
Income tax
129
95.3
113
+35.8%
Effective tax rate
13.8%
10.0%
14.0%
Net income
805
862
697
-6.5%
Net margin
15.4%
25.2%
20.3%
Diluted EPS
$2.07
$2.76
$2.20
-25.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,154
1,291
908
-10.6%
Capital expenditure
204
127
154
+60.2%
Free cash flow
950
1,164
754
-18.4%
Free cash flow margin
18.1%
34.0%
21.9%
Cash from investing
-6,618
-1,218
-17.1
Cash from financing
5,587
-33.4
-572
Depreciation and amortisation
584
210
222
+178.4%
Share-based compensation
104
63.4
68.9
+64.3%
Buybacks
46.5
370
227
-87.4%
Dividends paid
602
513
491
+17.3%
Dividend per share
$1.77
$1.66
$1.57
+6.6%
Diluted shares, weighted
350m
312m
317m
+12.2%
Shares outstanding at period end
369m
308m
312m
+19.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
10,162
5,166
5,073
+96.7%
Debt
7,851
1,732
870
+353.2%
Other liabilities
3,129
1,072
1,119
+191.7%
Total liabilities and equity
21,141
7,970
7,062
+165.3%
Fixed assets
1,107
636
644
+74.1%
Goodwill
12,217
1,679
1,637
+627.6%
Intangible assets
5,319
549
584
+868.3%
Investments
24.8
3,157
2,162
-99.2%
Cash and equivalents
1,048
921
884
+13.8%
Receivables
689
478
467
+44.3%
Inventory
551
377
412
+46.3%
Other assets
185
174
273
+6.3%
Total assets
21,141
7,970
7,062
+165.3%
10-K for the year ended 28 October 2017, filed 27 November 2018: the filing.