BWX Technologies (BWXT) FY2016 results: revenue $1.6 billion, up 9.5% on the year
BWX Technologies, Inc. (BWXT) reported revenue of $1.6 billion for fiscal 2016, the year ended 31 December 2016, up 9.5% on the year before. Net income was $183 million, up 39.2%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$1.6 billion
+9.5% on the year
FY2009FY2016
Operating margin
15.1%
14.5% a year earlier
FY2009FY2016
Net income
$183 million
+39.2% on the year
FY2009FY2016
Diluted EPS
$1.76
+44.3% 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
1,551
1,416
1,451
+9.5%
Cost of revenue
1,086
1,027
1,153
+5.7%
Gross profit
464
388
298
+19.6%
Gross margin
29.9%
27.4%
20.5%
Research and development
6.4
10.5
54.8
-39.2%
Selling, general and administrative
210
208
230
+0.8%
Operating income
234
206
25.1
+13.8%
Operating margin
15.1%
14.5%
1.7%
Interest expense
8.4
10.2
7.1
-17.6%
Pre-tax income
257
221
32.1
+16.4%
Income tax
73.7
80.4
1.7
-8.4%
Effective tax rate
28.6%
36.4%
5.3%
Net income
183
131
29.4
+39.2%
Net margin
11.8%
9.3%
2.0%
Diluted EPS
$1.76
$1.22
$0.27
+44.3%
$ 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
240
335
74.9
-28.4%
Capital expenditure
52.6
68.3
76.0
-23.0%
Free cash flow
187
267
-1.1
-29.8%
Free cash flow margin
12.1%
18.8%
-0.1%
Cash from investing
-189
-71.9
n/a
Cash from financing
-88.9
-414
105
Depreciation and amortisation
50.6
78.6
106
-35.7%
Share-based compensation
15.4
31.7
23.5
-51.5%
Buybacks
293
69.7
150
+320.1%
Dividends paid
37.4
34.5
43.5
+8.4%
Dividend per share
$0.36
$0.32
$0.40
+12.5%
Diluted shares, weighted
104m
108m
109m
-3.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
150
266
999
-43.5%
Non-controlling interest
0.4
13.9
15.5
-97.2%
Short-term borrowings
n/a
n/a
3.2
Debt
525
300
300
+75.0%
Other liabilities
904
796
1,540
+13.6%
Total liabilities and equity
1,580
1,375
2,857
+14.9%
Fixed assets
300
269
308
+11.5%
Goodwill
211
168
170
+25.1%
Intangible assets
115
58.3
60.2
+96.7%
Investments
14.5
3.5
12.4
+317.6%
Cash and equivalents
126
155
124
-18.8%
Receivables
136
153
165
-11.3%
Inventory
7.7
7.3
9.9
+5.3%
Other assets
671
561
2,008
+19.6%
Total assets
1,580
1,375
2,857
+14.9%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.