BWX Technologies (BWXT) FY2017 results: revenue $1.7 billion, up 8.8% on the year
BWX Technologies, Inc. (BWXT) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 8.8% on the year before. Net income was $148 million, down 19.2%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$1.7 billion
+8.8% on the year
FY2010FY2017
Operating margin
17.3%
15.1% a year earlier
FY2010FY2017
Net income
$148 million
-19.2% on the year
FY2010FY2017
Diluted EPS
$1.47
-16.5% 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
1,688
1,551
1,416
+8.8%
Cost of revenue
1,192
1,086
1,027
+9.7%
Gross profit
496
464
388
+6.8%
Gross margin
29.4%
29.9%
27.4%
Research and development
7.2
6.4
10.5
+12.2%
Selling, general and administrative
210
210
208
+0.3%
Operating income
292
234
206
+24.7%
Operating margin
17.3%
15.1%
14.5%
Interest expense
14.9
8.4
10.2
+77.3%
Pre-tax income
296
257
221
+15.0%
Income tax
147
73.7
80.4
+100.1%
Effective tax rate
49.8%
28.6%
36.4%
Net income
148
183
131
-19.2%
Net margin
8.8%
11.8%
9.3%
Diluted EPS
$1.47
$1.76
$1.22
-16.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
222
240
335
-7.4%
Capital expenditure
96.9
52.6
68.3
+84.1%
Free cash flow
125
187
267
-33.1%
Free cash flow margin
7.4%
12.1%
18.8%
Cash from investing
-89.7
-189
-71.9
Cash from financing
-61.2
-88.9
-414
Depreciation and amortisation
56.6
50.6
78.6
+11.9%
Share-based compensation
15.2
15.4
31.7
-1.0%
Buybacks
0.0
293
69.7
Dividends paid
42.0
37.4
34.5
+12.5%
Dividend per share
$0.42
$0.36
$0.32
+16.7%
Diluted shares, weighted
100m
104m
108m
-3.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
285
150
266
+90.2%
Non-controlling interest
0.4
0.4
13.9
-7.4%
Debt
509
525
300
-3.1%
Other liabilities
918
904
796
+1.5%
Total liabilities and equity
1,712
1,580
1,375
+8.4%
Fixed assets
349
300
269
+16.3%
Goodwill
218
211
168
+3.6%
Intangible assets
110
115
58.3
-3.8%
Investments
2.9
14.5
3.5
-79.8%
Cash and equivalents
203
126
155
+61.9%
Receivables
189
136
153
+39.2%
Inventory
8.6
7.7
7.3
+11.7%
Other assets
631
671
561
-6.0%
Total assets
1,712
1,580
1,375
+8.4%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.