AMETEK (AME) FY2017 results: revenue $4.3 billion, up 12.0% on the year
AMETEK Inc. (AME) reported revenue of $4.3 billion for fiscal 2017, the year ended 31 December 2017, up 12.0% on the year before. Net income was $681 million, up 33.1%, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$4.3 billion
+12.0% on the year
FY2010FY2017
Operating margin
21.0%
20.6% a year earlier
FY2010FY2017
Net income
$681 million
+33.1% on the year
FY2010FY2017
Diluted EPS
$2.94
+34.2% 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
4,300
3,840
3,974
+12.0%
Cost of revenue
2,861
2,585
2,618
+10.7%
Gross profit
1,439
1,255
1,356
+14.7%
Gross margin
33.5%
32.7%
34.1%
Research and development
130
112
116
+16.4%
Selling, general and administrative
535
463
449
+15.6%
Operating income
904
791
908
+14.2%
Operating margin
21.0%
20.6%
22.8%
Interest expense
98.0
94.3
91.8
+3.9%
Pre-tax income
797
693
806
+15.0%
Income tax
115
181
216
-36.3%
Effective tax rate
14.5%
26.1%
26.7%
Net income
681
512
591
+33.1%
Net margin
15.8%
13.3%
14.9%
Diluted EPS
$2.94
$2.19
$2.45
+34.2%
$ 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
833
757
673
+10.1%
Capital expenditure
75.1
63.3
69.1
+18.6%
Free cash flow
758
694
603
+9.3%
Free cash flow margin
17.6%
18.1%
15.2%
Cash from investing
-626
-452
n/a
Cash from financing
-329
57.1
n/a
Depreciation and amortisation
183
180
149
+2.0%
Share-based compensation
25.1
22.0
23.8
+13.9%
Buybacks
6.9
336
435
-98.0%
Dividends paid
82.7
83.3
86.0
-0.6%
Dividend per share
$0.36
$0.36
$0.36
0.0%
Diluted shares, weighted
232m
234m
242m
-0.8%
Shares outstanding at period end
231m
229m
236m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,028
3,257
3,255
+23.7%
Debt
2,174
2,342
1,938
-7.1%
Other liabilities
1,594
1,503
1,472
+6.1%
Total liabilities and equity
7,796
7,101
6,665
+9.8%
Fixed assets
493
473
485
+4.2%
Goodwill
3,116
2,819
2,707
+10.5%
Intangible assets
2,013
1,734
1,673
+16.1%
Securities held for sale or to maturity
8.1
7.3
8.5
+11.0%
Cash and equivalents
646
717
381
-9.9%
Receivables
668
592
603
+12.8%
Inventory
541
492
514
+9.8%
Other assets
311
265
293
+17.0%
Total assets
7,796
7,101
6,665
+9.8%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.