Cabot (CBT) FY2016 results: revenue $2.4 billion, down 16.0% on the year
Cabot Corp. (CBT) reported revenue of $2.4 billion for fiscal 2016, the year ended 30 September 2016, down 16.0% on the year before. Net income was $147 million, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2016.
Revenue
$2.4 billion
-16.0% on the year
FY2009FY2016
Operating margin
10.2%
-11.0% a year earlier
FY2009FY2016
Net income
$147 million
FY2009FY2016
Diluted EPS
$2.32
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
2,411
2,871
3,647
-16.0%
Cost of revenue
1,833
2,286
2,926
-19.8%
Gross profit
575
585
721
-1.7%
Gross margin
23.8%
20.4%
19.8%
Research and development
53.0
58.0
60.0
-8.6%
Selling, general and administrative
275
282
326
-2.5%
Operating income
247
-317
335
Operating margin
10.2%
-11.0%
9.2%
Interest expense
54.0
53.0
55.0
+1.9%
Pre-tax income
191
-377
308
Income tax
33.0
-45.0
92.0
Effective tax rate
17.3%
n/a
29.9%
Net income
147
-334
199
Net margin
6.1%
-11.6%
5.5%
Diluted EPS
$2.32
-$5.27
$3.03
$ 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
392
499
315
-21.4%
Capital expenditure
112
141
171
-20.6%
Free cash flow
280
358
144
-21.8%
Free cash flow margin
11.6%
12.5%
3.9%
Cash from investing
-104
-162
-16.0
Cash from financing
-184
-256
-302
Depreciation and amortisation
161
183
201
-12.0%
Share-based compensation
17.0
12.0
14.0
+41.7%
Buybacks
45.0
101
18.0
-55.4%
Dividends paid
65.0
56.0
54.0
+16.1%
Dividend per share
$1.04
$0.88
$0.84
+18.2%
Diluted shares, weighted
63m
63m
65m
-0.8%
Shares outstanding at period end
62m
62m
64m
-0.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,274
1,234
1,942
+3.2%
Non-controlling interest
98.0
104
122
-5.8%
Redeemable equity
26.0
27.0
27.0
-3.7%
Debt
922
993
1,072
-7.2%
Other liabilities
732
705
921
+3.8%
Total liabilities and equity
3,052
3,063
4,084
-0.4%
Fixed assets
1,290
1,383
1,581
-6.7%
Goodwill
152
154
536
-1.3%
Intangible assets
140
153
347
-8.5%
Cash and equivalents
200
77.0
67.0
+159.7%
Inventory
342
397
498
-13.9%
Other assets
928
899
1,055
+3.2%
Total assets
3,052
3,063
4,084
-0.4%
10-K for the year ended 30 September 2016, filed 23 November 2016: the filing.