Applied Materials (AMAT) FY2016 results: revenue $10.8 billion, up 12.1% on the year
Applied Materials Inc. (AMAT) reported revenue of $10.8 billion for fiscal 2016, the year ended 30 October 2016, up 12.1% on the year before. Net income was $1.7 billion, up 25.0%, and diluted earnings per share $1.54. The figures are the company's own, from the 10-K it filed with the SEC on 13 December 2018.
Revenue
$10.8 billion
+12.1% on the year
FY2009FY2016
Operating margin
19.9%
17.5% a year earlier
FY2009FY2016
Net income
$1.7 billion
+25.0% on the year
FY2009FY2016
Diluted EPS
$1.54
+37.5% 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
10,825
9,659
9,072
+12.1%
Cost of revenue
6,314
5,707
5,229
+10.6%
Gross profit
4,511
3,952
3,843
+14.1%
Gross margin
41.7%
40.9%
42.4%
Research and development
1,540
1,451
1,428
+6.1%
Operating income
2,152
1,693
1,520
+27.1%
Operating margin
19.9%
17.5%
16.8%
Interest expense
155
103
95.0
+50.5%
Pre-tax income
2,013
1,598
1,448
+26.0%
Income tax
292
221
376
+32.1%
Effective tax rate
14.5%
13.8%
26.0%
Net income
1,721
1,377
1,072
+25.0%
Net margin
15.9%
14.3%
11.8%
Diluted EPS
$1.54
$1.12
$0.87
+37.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,566
1,163
1,800
+120.6%
Capital expenditure
253
215
241
+17.7%
Free cash flow
2,313
948
1,559
+144.0%
Free cash flow margin
21.4%
9.8%
17.2%
Cash from investing
-425
-281
-161
Cash from financing
-3,532
913
-348
Depreciation and amortisation
389
371
375
+4.9%
Share-based compensation
201
187
177
+7.5%
Buybacks
1,892
1,325
0.0
+42.8%
Dividends paid
444
487
485
-8.8%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
1,116m
1,226m
1,231m
-9.0%
Shares outstanding at period end
1,078m
1,160m
1,221m
-7.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,413
7,613
7,868
-2.6%
Debt
3,325
4,542
1,947
-26.8%
Other liabilities
3,850
3,153
3,359
+22.1%
Total liabilities and equity
14,588
15,308
13,174
-4.7%
Fixed assets
937
892
861
+5.0%
Goodwill
3,316
3,302
3,304
+0.4%
Intangible assets
575
762
951
-24.5%
Investments
1,272
1,114
1,095
+14.2%
Cash and equivalents
3,406
4,797
3,002
-29.0%
Receivables
2,279
1,739
1,670
+31.1%
Inventory
2,050
1,833
1,567
+11.8%
Other assets
753
869
724
-13.3%
Total assets
14,588
15,308
13,174
-4.7%
10-K for the year ended 30 October 2016, filed 13 December 2018: the filing.