AMETEK (AME) FY2016 results: revenue $3.8 billion, down 3.4% on the year
AMETEK Inc. (AME) reported revenue of $3.8 billion for fiscal 2016, the year ended 31 December 2016, down 3.4% on the year before. Net income was $512 million, down 13.3%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$3.8 billion
-3.4% on the year
FY2009FY2016
Operating margin
20.6%
22.8% a year earlier
FY2009FY2016
Net income
$512 million
-13.3% on the year
FY2009FY2016
Diluted EPS
$2.19
-10.6% 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
3,840
3,974
4,022
-3.4%
Cost of revenue
2,585
2,618
2,661
-1.2%
Gross profit
1,255
1,356
1,361
-7.5%
Gross margin
32.7%
34.1%
33.8%
Research and development
112
116
119
-3.7%
Selling, general and administrative
463
449
463
+3.2%
Operating income
791
908
899
-12.9%
Operating margin
20.6%
22.8%
22.3%
Interest expense
94.3
91.8
79.9
+2.7%
Pre-tax income
693
806
805
-14.0%
Income tax
181
216
220
-16.0%
Effective tax rate
26.1%
26.7%
27.4%
Net income
512
591
584
-13.3%
Net margin
13.3%
14.9%
14.5%
Diluted EPS
$2.19
$2.45
$2.37
-10.6%
$ 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
757
673
726
+12.5%
Capital expenditure
63.3
69.1
71.3
-8.4%
Free cash flow
694
603
655
+14.9%
Free cash flow margin
18.1%
15.2%
16.3%
Cash from investing
-452
n/a
n/a
Cash from financing
57.1
n/a
n/a
Depreciation and amortisation
180
149
139
+20.2%
Share-based compensation
22.0
23.8
19.9
-7.3%
Buybacks
336
435
245
-22.8%
Dividends paid
83.3
86.0
80.6
-3.2%
Dividend per share
$0.36
$0.36
$0.33
0.0%
Diluted shares, weighted
234m
242m
247m
-3.3%
Shares outstanding at period end
229m
236m
241m
-2.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,257
3,255
3,240
+0.1%
Debt
2,342
1,938
1,714
+20.8%
Other liabilities
1,503
1,472
1,467
+2.1%
Total liabilities and equity
7,101
6,665
6,421
+6.5%
Fixed assets
473
485
448
-2.3%
Goodwill
2,819
2,707
2,614
+4.1%
Intangible assets
1,734
1,673
1,626
+3.6%
Securities held for sale or to maturity
7.3
8.5
9.2
-14.1%
Cash and equivalents
717
381
378
+88.3%
Receivables
592
603
585
-1.8%
Inventory
492
514
496
-4.3%
Other assets
265
293
265
-9.4%
Total assets
7,101
6,665
6,421
+6.5%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.