Arrow Electronics (ARW) FY2017 results: revenue $26.6 billion, up 13.1% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $26.6 billion for fiscal 2017, the year ended 31 December 2017, up 13.1% on the year before. Net income was $402 million, down 23.1%, and diluted earnings per share $4.48. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$26.6 billion
+13.1% on the year
FY2010FY2017
Operating margin
3.6%
3.7% a year earlier
FY2010FY2017
Net income
$402 million
-23.1% on the year
FY2010FY2017
Diluted EPS
$4.48
-21.1% 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
26,555
23,488
23,282
+13.1%
Cost of revenue
23,198
20,344
20,247
+14.0%
Gross profit
3,357
3,144
3,035
+6.8%
Gross margin
12.6%
13.4%
13.0%
Selling, general and administrative
2,163
2,047
1,986
+5.7%
Operating income
946
877
824
+7.9%
Operating margin
3.6%
3.7%
3.5%
Income tax
287
191
192
+50.3%
Net income
402
523
498
-23.1%
Net margin
1.5%
2.2%
2.1%
Diluted EPS
$4.48
$5.68
$5.20
-21.1%
$ 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
125
360
660
-65.4%
Capital expenditure
204
165
155
+23.8%
Free cash flow
-79.4
195
505
Free cash flow margin
-0.3%
0.8%
2.2%
Cash from investing
-189
-241
-664
Cash from financing
257
162
-89.1
+58.3%
Depreciation and amortisation
154
159
156
-3.5%
Share-based compensation
39.1
39.8
47.3
-1.8%
Buybacks
174
216
356
-19.5%
Diluted shares, weighted
90m
92m
96m
-2.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,952
4,413
4,142
+12.2%
Non-controlling interest
48.7
52.2
52.4
-6.7%
Debt
3,290
2,790
2,425
+17.9%
Other liabilities
8,173
6,951
6,403
+17.6%
Total liabilities and equity
16,463
14,206
13,022
+15.9%
Fixed assets
838
756
700
+10.9%
Goodwill
2,470
2,392
2,369
+3.3%
Intangible assets
286
337
389
-15.0%
Cash and equivalents
730
534
273
+36.6%
Receivables
8,126
6,747
6,161
+20.4%
Inventory
3,303
2,856
2,466
+15.6%
Other assets
710
584
663
+21.5%
Total assets
16,463
14,206
13,022
+15.9%
10-K for the year ended 31 December 2017, filed 7 February 2019: the filing.