Caterpillar (CAT) FY2015 results: revenue $47.0 billion, down 14.8% on the year
Caterpillar Inc. (CAT) reported revenue of $47.0 billion for fiscal 2015, the year ended 31 December 2015, down 14.8% on the year before. Net income was $2.5 billion, up 2.4%, and diluted earnings per share $4.18. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2016.
Revenue
$47.0 billion
-14.8% on the year
FY2008FY2015
Operating margin
8.1%
6.0% a year earlier
FY2008FY2015
Net income
$2.5 billion
+2.4% on the year
FY2008FY2015
Diluted EPS
$4.18
+7.2% on the year
FY2008FY2015
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
47,011
55,184
55,656
-14.8%
Cost of revenue
33,546
40,718
38,432
-17.6%
Gross profit
13,465
14,466
17,224
-6.9%
Gross margin
28.6%
26.2%
30.9%
Research and development
2,119
2,380
1,552
-11.0%
Selling, general and administrative
4,951
6,529
4,122
-24.2%
Operating income
3,785
3,314
9,870
+14.2%
Operating margin
8.1%
6.0%
17.7%
Pre-tax income
3,439
3,152
9,371
+9.1%
Income tax
916
692
2,795
+32.4%
Effective tax rate
26.6%
22.0%
29.8%
Net income
2,512
2,452
6,556
+2.4%
Net margin
5.3%
4.4%
11.8%
Diluted EPS
$4.18
$3.90
$9.95
+7.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
6,699
8,057
10,191
-16.9%
Capital expenditure
1,388
1,539
2,522
-9.8%
Free cash flow
5,311
6,518
7,669
-18.5%
Free cash flow margin
11.3%
11.8%
13.8%
Depreciation and amortisation
3,046
3,163
3,087
-3.7%
Share-based compensation
283
254
231
+11.4%
Buybacks
2,025
4,238
2,000
-52.2%
Dividends paid
1,757
1,620
1,111
+8.5%
Dividend per share
$3.01
$2.70
$2.32
+11.5%
Diluted shares, weighted
601m
629m
659m
-4.4%
Shares outstanding at period end
582m
606m
638m
-3.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
14,885
16,826
20,878
-11.5%
Debt
38,013
39,285
37,750
-3.2%
Other liabilities
25,599
28,387
26,268
-9.8%
Total liabilities and equity
78,497
84,498
84,896
-7.1%
Fixed assets
16,090
16,577
17,075
-2.9%
Goodwill
6,615
6,694
6,956
-1.2%
Intangible assets
2,821
3,076
3,596
-8.3%
Cash and equivalents
6,511
n/a
n/a
Receivables
6,695
7,737
8,413
-13.5%
Inventory
9,700
12,205
12,625
-20.5%
Other assets
30,065
38,209
36,231
-21.3%
Total assets
78,497
84,498
84,896
-7.1%
10-K for the year ended 31 December 2015, filed 16 February 2016: the filing.