Air Products & Chemicals (APD) FY2015 results: revenue $7.8 billion, down 6.7% on the year
Air Products & Chemicals, Inc. (APD) reported revenue of $7.8 billion for fiscal 2015, the year ended 30 September 2015, down 6.7% on the year before. Net income was $1.3 billion, up 28.9%, and diluted earnings per share $5.88. The figures are the company's own, from the 10-K it filed with the SEC on 24 November 2015.
Revenue
$7.8 billion
-6.7% on the year
FY2008FY2015
Operating margin
15.8%
11.0% a year earlier
FY2008FY2015
Net income
$1.3 billion
+28.9% on the year
FY2008FY2015
Diluted EPS
$5.88
+27.5% 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
7,824
8,384
10,180
-6.7%
Cost of revenue
5,598
6,208
7,472
-9.8%
Gross profit
2,226
2,176
2,708
+2.3%
Gross margin
28.5%
26.0%
26.6%
Research and development
76.4
78.5
134
-2.7%
Selling, general and administrative
773
892
1,066
-13.4%
Operating income
1,233
924
1,324
+33.4%
Operating margin
15.8%
11.0%
13.0%
Interest expense
103
124
142
-17.1%
Pre-tax income
1,266
949
1,350
+33.4%
Income tax
300
258
308
+16.3%
Effective tax rate
23.7%
27.2%
22.8%
Net income
1,278
992
994
+28.9%
Net margin
16.3%
11.8%
9.8%
Diluted EPS
$5.88
$4.61
$4.68
+27.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,470
2,187
1,567
+12.9%
Capital expenditure
1,162
1,299
1,524
-10.5%
Free cash flow
1,307
888
43.2
+47.3%
Free cash flow margin
16.7%
10.6%
0.4%
Depreciation and amortisation
858
876
907
-2.0%
Share-based compensation
39.5
38.0
43.5
+3.9%
Buybacks
0.0
0.0
462
Dividends paid
678
628
566
+7.9%
Dividend per share
$3.20
$3.02
$2.77
+6.0%
Diluted shares, weighted
217m
215m
212m
+1.0%
Shares outstanding at period end
215m
214m
211m
+0.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,249
7,366
7,042
-1.6%
Non-controlling interest
132
156
157
-15.1%
Redeemable equity
0.0
287
376
Debt
5,879
6,118
6,274
-3.9%
Other liabilities
4,056
3,720
4,002
+9.0%
Total liabilities and equity
17,317
17,648
17,850
-1.9%
Fixed assets
8,237
8,442
8,974
-2.4%
Goodwill
837
922
1,654
-9.2%
Intangible assets
398
616
717
-35.3%
Cash and equivalents
183
285
450
-35.8%
Receivables
1,126
1,486
1,544
-24.2%
Inventory
288
706
706
-59.2%
Other assets
6,246
5,190
3,804
+20.3%
Total assets
17,317
17,648
17,850
-1.9%
10-K for the year ended 30 September 2015, filed 24 November 2015: the filing.