A. O. Smith (AOS) FY2015 results: revenue $2.5 billion, up 7.7% on the year
A. O. Smith Corp. (AOS) reported revenue of $2.5 billion for fiscal 2015, the year ended 31 December 2015, up 7.7% on the year before. Net income was $283 million, up 36.1%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2016.
Revenue
$2.5 billion
+7.7% on the year
FY2008FY2015
Operating margin
17.9%
14.7% a year earlier
FY2008FY2015
Net income
$283 million
+36.1% on the year
FY2008FY2015
Diluted EPS
$1.58
+38.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,536
2,356
2,154
+7.7%
Cost of revenue
1,527
1,497
1,380
+2.0%
Gross profit
1,010
859
774
+17.5%
Gross margin
39.8%
36.5%
35.9%
Research and development
73.7
67.9
57.8
+8.5%
Selling, general and administrative
611
572
524
+6.7%
Operating income
453
345
300
+31.2%
Operating margin
17.9%
14.7%
13.9%
Interest expense
7.4
5.7
5.7
+29.8%
Pre-tax income
402
287
236
+40.4%
Income tax
120
78.9
66.7
+51.6%
Effective tax rate
29.7%
27.5%
28.2%
Net income
283
208
170
+36.1%
Net margin
11.2%
8.8%
7.9%
Diluted EPS
$1.58
$1.14
$0.92
+38.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
352
264
280
+33.3%
Capital expenditure
72.7
86.1
97.7
-15.6%
Free cash flow
279
178
182
+56.9%
Free cash flow margin
11.0%
7.5%
8.4%
Cash from investing
n/a
n/a
-8.2
Cash from financing
n/a
n/a
-158
Depreciation and amortisation
63.0
59.8
59.7
+5.4%
Share-based compensation
8.8
10.8
10.5
-18.5%
Buybacks
128
104
73.7
+23.4%
Dividends paid
67.8
54.4
42.6
+24.6%
Dividend per share
$0.38
$0.30
$0.23
+26.7%
Diluted shares, weighted
179m
182m
186m
-1.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,442
1,381
1,329
+4.4%
Debt
249
224
192
+11.3%
Other liabilities
938
893
871
+5.0%
Total liabilities and equity
2,629
2,498
2,392
+5.2%
Fixed assets
443
428
391
+3.5%
Goodwill
421
429
434
-1.8%
Intangible assets
291
308
325
-5.7%
Investments
322
222
105
+44.5%
Cash and equivalents
324
319
381
+1.3%
Receivables
501
475
459
+5.5%
Inventory
223
208
193
+7.0%
Other assets
105
108
104
-2.2%
Total assets
2,629
2,498
2,392
+5.2%
10-K for the year ended 31 December 2015, filed 17 February 2016: the filing.