Albemarle (ALB) FY2016 results: revenue $2.7 billion, down 5.3% on the year
Albemarle Corp. (ALB) reported revenue of $2.7 billion for fiscal 2016, the year ended 31 December 2016, down 5.3% on the year before. Net income was $644 million, up 92.2%, and diluted earnings per share $5.68. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$2.7 billion
-5.3% on the year
FY2009FY2016
Operating margin
22.4%
12.2% a year earlier
FY2009FY2016
Net income
$644 million
+92.2% on the year
FY2009FY2016
Diluted EPS
$5.68
+89.3% 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
2,677
2,826
2,446
-5.3%
Cost of revenue
1,707
1,966
1,675
-13.2%
Gross profit
971
860
771
+12.8%
Gross margin
36.3%
30.4%
31.5%
Research and development
80.5
89.2
88.3
-9.8%
Selling, general and administrative
354
300
355
+17.7%
Operating income
601
345
271
+74.1%
Operating margin
22.4%
12.2%
11.1%
Pre-tax income
515
311
539
+65.8%
Income tax
96.3
11.1
18.5
+764.6%
Effective tax rate
18.7%
3.6%
3.4%
Net income
644
335
133
+92.2%
Net margin
24.0%
11.8%
5.5%
Diluted EPS
$5.68
$3.00
$1.69
+89.3%
$ 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
736
361
493
+103.9%
Capital expenditure
197
228
111
-13.6%
Free cash flow
539
133
382
+305.0%
Free cash flow margin
20.1%
4.7%
15.6%
Cash from investing
2,920
-2,161
-46.1
Cash from financing
-1,578
-478
1,609
Depreciation and amortisation
226
260
104
-13.0%
Share-based compensation
17.0
15.2
14.3
+12.1%
Buybacks
0.0
0.0
150
Dividends paid
135
119
84.1
+13.5%
Dividend per share
$1.22
$1.16
$1.10
+5.2%
Diluted shares, weighted
113m
112m
79m
+1.5%
Shares outstanding at period end
113m
112m
78m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,795
3,254
1,359
+16.6%
Non-controlling interest
148
147
129
+0.4%
Debt
2,369
3,817
2,934
-37.9%
Other liabilities
1,849
2,397
780
-22.8%
Total liabilities and equity
8,161
9,615
5,202
-15.1%
Fixed assets
2,360
2,321
1,232
+1.7%
Goodwill
1,540
1,461
243
+5.4%
Intangible assets
355
384
44.1
-7.6%
Investments
27.6
24.3
24.0
+13.7%
Cash and equivalents
2,270
214
2,490
+962.0%
Receivables
486
398
385
+22.1%
Inventory
450
440
358
+2.4%
Other assets
673
4,374
426
-84.6%
Total assets
8,161
9,615
5,202
-15.1%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.