Arrow Electronics (ARW) FY2016 results: revenue $23.5 billion, up 0.9% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $23.5 billion for fiscal 2016, the year ended 31 December 2016, up 0.9% on the year before. Net income was $523 million, up 5.0%, and diluted earnings per share $5.68. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$23.5 billion
+0.9% on the year
FY2009FY2016
Operating margin
3.7%
3.5% a year earlier
FY2009FY2016
Net income
$523 million
+5.0% on the year
FY2009FY2016
Diluted EPS
$5.68
+9.2% 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
23,488
23,282
22,769
+0.9%
Cost of revenue
20,344
20,247
19,773
+0.5%
Gross profit
3,144
3,035
2,996
+3.6%
Gross margin
13.4%
13.0%
13.2%
Selling, general and administrative
2,047
1,986
1,960
+3.1%
Operating income
877
824
762
+6.3%
Operating margin
3.7%
3.5%
3.3%
Income tax
191
192
185
-0.5%
Net income
523
498
498
+5.0%
Net margin
2.2%
2.1%
2.2%
Diluted EPS
$5.68
$5.20
$4.98
+9.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
360
660
673
-45.5%
Capital expenditure
165
155
123
+6.4%
Free cash flow
195
505
551
-61.4%
Free cash flow margin
0.8%
2.2%
2.4%
Cash from investing
-241
-664
-245
Cash from financing
162
-89.1
-435
Depreciation and amortisation
159
156
156
+2.2%
Share-based compensation
39.8
47.3
41.9
-15.8%
Buybacks
216
356
305
-39.3%
Diluted shares, weighted
92m
96m
100m
-3.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,413
4,142
4,154
+6.5%
Non-controlling interest
52.2
52.4
4.9
-0.4%
Debt
2,790
2,425
2,081
+15.1%
Other liabilities
6,951
6,403
6,203
+8.6%
Total liabilities and equity
14,206
13,022
12,443
+9.1%
Fixed assets
756
700
636
+8.0%
Goodwill
2,392
2,369
2,069
+1.0%
Intangible assets
337
389
336
-13.5%
Cash and equivalents
534
273
400
+95.7%
Receivables
6,747
6,161
6,044
+9.5%
Inventory
2,856
2,466
2,335
+15.8%
Other assets
584
663
622
-11.8%
Total assets
14,206
13,022
12,443
+9.1%
10-K for the year ended 31 December 2016, filed 7 February 2019: the filing.