Caterpillar (CAT) FY2016 results: revenue $38.5 billion, down 18.0% on the year
Caterpillar Inc. (CAT) reported revenue of $38.5 billion for fiscal 2016, the year ended 31 December 2016, down 18.0% on the year before. Net income was -$67 million, and diluted earnings per share $-0.11. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2017.
Revenue
$38.5 billion
-18.0% on the year
FY2009FY2016
Operating margin
3.0%
8.1% a year earlier
FY2009FY2016
Net income
-$67 million
FY2009FY2016
Diluted EPS
-$0.11
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
38,537
47,011
55,184
-18.0%
Cost of revenue
28,044
33,546
40,718
-16.4%
Gross profit
10,493
13,465
14,466
-22.1%
Gross margin
27.2%
28.6%
26.2%
Research and development
1,853
2,119
2,380
-12.6%
Selling, general and administrative
4,383
4,951
6,529
-11.5%
Operating income
1,162
3,785
3,314
-69.3%
Operating margin
3.0%
8.1%
6.0%
Pre-tax income
139
3,439
3,152
-96.0%
Income tax
192
916
692
-79.0%
Effective tax rate
138.1%
26.6%
22.0%
Net income
-67.0
2,512
2,452
Net margin
-0.2%
5.3%
4.4%
Diluted EPS
-$0.11
$4.18
$3.90
$ 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
5,639
6,699
8,057
-15.8%
Capital expenditure
1,109
1,388
1,539
-20.1%
Free cash flow
4,530
5,311
6,518
-14.7%
Free cash flow margin
11.8%
11.3%
11.8%
Depreciation and amortisation
3,034
3,046
3,163
-0.4%
Share-based compensation
218
283
254
-23.0%
Buybacks
0.0
2,025
4,238
Dividends paid
1,799
1,757
1,620
+2.4%
Dividend per share
$3.08
$3.01
$2.70
+2.3%
Diluted shares, weighted
584m
601m
629m
-2.8%
Shares outstanding at period end
586m
582m
606m
+0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
13,213
14,885
16,826
-11.2%
Debt
36,783
38,013
39,285
-3.2%
Other liabilities
24,708
25,599
28,387
-3.5%
Total liabilities and equity
74,704
78,497
84,498
-4.8%
Fixed assets
15,322
16,090
16,577
-4.8%
Goodwill
6,020
6,615
6,694
-9.0%
Intangible assets
2,349
2,821
3,076
-16.7%
Cash and equivalents
7,199
6,511
n/a
+10.6%
Receivables
5,981
6,695
7,737
-10.7%
Inventory
8,614
9,700
12,205
-11.2%
Other assets
29,219
30,065
38,209
-2.8%
Total assets
74,704
78,497
84,498
-4.8%
10-K for the year ended 31 December 2016, filed 15 February 2017: the filing.