Albemarle (ALB) FY2015 results: revenue $2.8 billion, up 15.6% on the year
Albemarle Corp. (ALB) reported revenue of $2.8 billion for fiscal 2015, the year ended 31 December 2015, up 15.6% on the year before. Net income was $335 million, up 151.2%, and diluted earnings per share $3.00. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$2.8 billion
+15.6% on the year
FY2008FY2015
Operating margin
12.2%
11.1% a year earlier
FY2008FY2015
Net income
$335 million
+151.2% on the year
FY2008FY2015
Diluted EPS
$3.00
+77.5% 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
2,826
2,446
2,394
+15.6%
Cost of revenue
1,966
1,675
1,544
+17.4%
Gross profit
860
771
850
+11.6%
Gross margin
30.4%
31.5%
35.5%
Research and development
89.2
88.3
82.2
+1.0%
Selling, general and administrative
300
355
158
-15.4%
Operating income
345
271
577
+27.2%
Operating margin
12.2%
11.1%
24.1%
Pre-tax income
311
539
534
-42.4%
Income tax
11.1
18.5
134
-39.8%
Effective tax rate
3.6%
3.4%
25.2%
Net income
335
133
413
+151.2%
Net margin
11.8%
5.5%
17.3%
Diluted EPS
$3.00
$1.69
$4.90
+77.5%
$ 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
361
493
433
-26.8%
Capital expenditure
228
111
155
+105.9%
Free cash flow
133
382
278
-65.2%
Free cash flow margin
4.7%
15.6%
11.6%
Cash from investing
-2,161
-46.1
-158
Cash from financing
-478
1,609
-288
Depreciation and amortisation
260
104
107
+151.1%
Share-based compensation
15.2
14.3
10.2
+6.5%
Buybacks
0.0
150
582
Dividends paid
119
84.1
78.1
+41.9%
Dividend per share
$1.16
$1.10
$0.96
+5.5%
Diluted shares, weighted
112m
79m
84m
+41.0%
Shares outstanding at period end
112m
78m
80m
+43.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,254
1,359
1,627
+139.4%
Non-controlling interest
147
129
115
+13.7%
Debt
3,817
2,934
1,079
+30.1%
Other liabilities
2,397
780
763
+207.4%
Total liabilities and equity
9,615
5,202
3,585
+84.8%
Fixed assets
2,321
1,232
1,357
+88.4%
Goodwill
1,461
243
284
+500.4%
Intangible assets
384
44.1
88.2
+770.0%
Investments
24.3
24.0
23.8
+1.2%
Cash and equivalents
214
2,490
477
-91.4%
Receivables
398
385
447
+3.3%
Inventory
440
358
436
+22.6%
Other assets
4,374
426
471
+927.1%
Total assets
9,615
5,202
3,585
+84.8%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.