Albemarle (ALB) FY2017 results: revenue $3.1 billion, up 14.7% on the year
Albemarle Corp. (ALB) reported revenue of $3.1 billion for fiscal 2017, the year ended 31 December 2017, up 14.7% on the year before. Net income was $55 million, down 91.5%, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$3.1 billion
+14.7% on the year
FY2010FY2017
Operating margin
18.6%
22.4% a year earlier
FY2010FY2017
Net income
$55 million
-91.5% on the year
FY2010FY2017
Diluted EPS
$0.49
-91.4% 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
3,072
2,677
2,826
+14.7%
Cost of revenue
1,966
1,707
1,966
+15.2%
Gross profit
1,106
971
860
+14.0%
Gross margin
36.0%
36.3%
30.4%
Research and development
84.3
80.5
89.2
+4.8%
Selling, general and administrative
450
354
300
+27.3%
Operating income
572
601
345
-4.9%
Operating margin
18.6%
22.4%
12.2%
Pre-tax income
447
515
311
-13.3%
Income tax
432
96.3
11.1
+348.6%
Effective tax rate
96.6%
18.7%
3.6%
Net income
54.9
644
335
-91.5%
Net margin
1.8%
24.0%
11.8%
Diluted EPS
$0.49
$5.68
$3.00
-91.4%
$ 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
304
736
361
-58.7%
Capital expenditure
318
197
228
+61.6%
Free cash flow
-13.7
539
133
Free cash flow margin
-0.4%
20.1%
4.7%
Cash from investing
-358
2,920
-2,161
Cash from financing
-1,087
-1,578
-478
Depreciation and amortisation
197
226
260
-12.9%
Share-based compensation
19.4
17.0
15.2
+13.9%
Buybacks
250
0.0
0.0
Dividends paid
141
135
119
+3.8%
Dividend per share
$1.28
$1.22
$1.16
+4.9%
Diluted shares, weighted
112m
113m
112m
-0.8%
Shares outstanding at period end
111m
113m
112m
-1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,675
3,795
3,254
-3.2%
Non-controlling interest
143
148
147
-3.0%
Debt
1,837
2,369
3,817
-22.4%
Other liabilities
2,096
1,849
2,397
+13.3%
Total liabilities and equity
7,751
8,161
9,615
-5.0%
Fixed assets
2,493
2,360
2,321
+5.6%
Goodwill
1,610
1,540
1,461
+4.6%
Intangible assets
422
355
384
+18.9%
Investments
30.7
27.6
24.3
+11.2%
Cash and equivalents
1,137
2,270
214
-49.9%
Receivables
534
486
398
+9.9%
Inventory
593
450
440
+31.7%
Other assets
931
673
4,374
+38.3%
Total assets
7,751
8,161
9,615
-5.0%
10-K for the year ended 31 December 2017, filed 27 February 2019: the filing.