BWX Technologies (BWXT) FY2015 results: revenue $1.4 billion, down 2.4% on the year
BWX Technologies, Inc. (BWXT) reported revenue of $1.4 billion for fiscal 2015, the year ended 31 December 2015, down 2.4% on the year before. Net income was $131 million, up 347.3%, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$1.4 billion
-2.4% on the year
FY2009FY2015
Operating margin
14.5%
1.7% a year earlier
FY2009FY2015
Net income
$131 million
+347.3% on the year
FY2009FY2015
Diluted EPS
$1.22
+351.9% on the year
FY2009FY2015
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
1,416
1,451
1,547
-2.4%
Cost of revenue
1,027
1,153
1,012
-10.9%
Gross profit
388
298
534
+30.4%
Gross margin
27.4%
20.5%
34.5%
Research and development
10.5
54.8
58.2
-80.8%
Selling, general and administrative
208
230
198
-9.8%
Operating income
206
25.1
307
+719.7%
Operating margin
14.5%
1.7%
19.8%
Interest expense
10.2
7.1
2.7
+43.7%
Pre-tax income
221
32.1
286
+587.9%
Income tax
80.4
1.7
101
+4,655.5%
Effective tax rate
36.4%
5.3%
35.3%
Net income
131
29.4
346
+347.3%
Net margin
9.3%
2.0%
22.4%
Diluted EPS
$1.22
$0.27
$3.07
+351.9%
$ 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
335
74.9
138
+347.3%
Capital expenditure
68.3
76.0
65.0
-10.1%
Free cash flow
267
-1.1
72.9
Free cash flow margin
18.8%
-0.1%
4.7%
Cash from investing
-71.9
n/a
20.1
Cash from financing
-414
105
-191
Depreciation and amortisation
78.6
106
70.5
-25.7%
Share-based compensation
31.7
23.5
29.0
+35.1%
Buybacks
69.7
150
157
-53.4%
Dividends paid
34.5
43.5
38.0
-20.7%
Dividend per share
$0.32
$0.40
$0.34
-20.0%
Diluted shares, weighted
108m
109m
113m
-1.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
266
999
1,165
-73.4%
Non-controlling interest
13.9
15.5
18.3
-10.2%
Short-term borrowings
n/a
3.2
n/a
Debt
300
300
4.9
0.0%
Other liabilities
796
1,540
1,421
-48.3%
Total liabilities and equity
1,375
2,857
2,609
-51.9%
Fixed assets
269
308
322
-12.7%
Goodwill
168
170
177
-0.9%
Intangible assets
58.3
60.2
63.3
-3.2%
Investments
3.5
12.4
15.2
-72.1%
Cash and equivalents
155
124
346
+25.2%
Receivables
153
165
360
-7.2%
Inventory
7.3
9.9
113
-26.3%
Other assets
561
2,008
1,212
-72.1%
Total assets
1,375
2,857
2,609
-51.9%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.