Applied Materials (AMAT) FY2017 results: revenue $14.7 billion, up 35.8% on the year
Applied Materials Inc. (AMAT) reported revenue of $14.7 billion for fiscal 2017, the year ended 29 October 2017, up 35.8% on the year before. Net income was $3.5 billion, up 104.5%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 13 December 2018.
Revenue
$14.7 billion
+35.8% on the year
FY2010FY2017
Operating margin
26.8%
19.9% a year earlier
FY2010FY2017
Net income
$3.5 billion
+104.5% on the year
FY2010FY2017
Diluted EPS
$3.25
+111.0% 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
14,698
10,825
9,659
+35.8%
Cost of revenue
8,086
6,314
5,707
+28.1%
Gross profit
6,612
4,511
3,952
+46.6%
Gross margin
45.0%
41.7%
40.9%
Research and development
1,781
1,540
1,451
+15.6%
Operating income
3,936
2,152
1,693
+82.9%
Operating margin
26.8%
19.9%
17.5%
Interest expense
198
155
103
+27.7%
Pre-tax income
3,816
2,013
1,598
+89.6%
Income tax
297
292
221
+1.7%
Effective tax rate
7.8%
14.5%
13.8%
Net income
3,519
1,721
1,377
+104.5%
Net margin
23.9%
15.9%
14.3%
Diluted EPS
$3.25
$1.54
$1.12
+111.0%
$ 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
3,789
2,566
1,163
+47.7%
Capital expenditure
345
253
215
+36.4%
Free cash flow
3,444
2,313
948
+48.9%
Free cash flow margin
23.4%
21.4%
9.8%
Cash from investing
-2,526
-425
-281
Cash from financing
341
-3,532
913
Depreciation and amortisation
407
389
371
+4.6%
Share-based compensation
220
201
187
+9.5%
Buybacks
1,172
1,892
1,325
-38.1%
Dividends paid
430
444
487
-3.2%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
1,084m
1,116m
1,226m
-2.9%
Shares outstanding at period end
1,060m
1,078m
1,160m
-1.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
9,630
7,413
7,613
+29.9%
Debt
5,304
3,325
4,542
+59.5%
Other liabilities
4,485
3,850
3,153
+16.5%
Total liabilities and equity
19,419
14,588
15,308
+33.1%
Fixed assets
1,066
937
892
+13.8%
Goodwill
3,368
3,316
3,302
+1.6%
Intangible assets
412
575
762
-28.3%
Investments
3,409
1,272
1,114
+168.0%
Cash and equivalents
5,010
3,406
4,797
+47.1%
Receivables
2,338
2,279
1,739
+2.6%
Inventory
2,707
2,050
1,833
+32.0%
Other assets
1,109
753
869
+47.3%
Total assets
19,419
14,588
15,308
+33.1%
10-K for the year ended 29 October 2017, filed 13 December 2018: the filing.