CF Industries Holdings (CF) FY2016 results: revenue $3.7 billion, down 14.5% on the year
CF Industries Holdings, Inc. (CF) reported revenue of $3.7 billion for fiscal 2016, the year ended 31 December 2016, down 14.5% on the year before. Net income was -$277 million, and diluted earnings per share $-1.19. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$3.7 billion
-14.5% on the year
FY2009FY2016
Operating margin
3.7%
27.7% a year earlier
FY2009FY2016
Net income
-$277 million
FY2009FY2016
Diluted EPS
-$1.19
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
3,685
4,308
4,743
-14.5%
Cost of revenue
2,842
2,761
2,965
+2.9%
Gross profit
843
1,547
1,778
-45.5%
Gross margin
22.9%
35.9%
37.5%
Selling, general and administrative
173
170
152
+1.9%
Operating income
138
1,193
2,366
-88.4%
Operating margin
3.7%
27.7%
49.9%
Interest expense
200
133
178
+50.2%
Pre-tax income
-226
1,058
2,187
Income tax
-68.0
396
773
Effective tax rate
n/a
37.4%
35.3%
Net income
-277
700
1,390
Net margin
-7.5%
16.2%
29.3%
Diluted EPS
-$1.19
$2.96
$5.42
$ 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
617
1,207
1,421
-48.9%
Capital expenditure
2,211
2,469
1,808
-10.5%
Free cash flow
-1,594
-1,262
-388
Free cash flow margin
-43.3%
-29.3%
-8.2%
Cash from investing
-2,195
-2,976
-344
Cash from financing
2,439
77.0
-787
+3,067.5%
Depreciation and amortisation
678
480
392
+41.4%
Share-based compensation
19.0
17.0
17.0
+11.8%
Buybacks
0.0
556
1,935
Dividends paid
280
282
256
-0.8%
Dividend per share
$1.20
$1.20
$1.00
0.0%
Diluted shares, weighted
233m
236m
256m
-1.3%
Shares outstanding at period end
233m
233m
242m
+0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,348
4,035
4,210
-17.0%
Non-controlling interest
3,144
352
363
+793.2%
Debt
5,778
5,537
4,592
+4.4%
Other liabilities
2,861
2,759
2,089
+3.7%
Total liabilities and equity
15,131
12,683
11,254
+19.3%
Fixed assets
9,652
8,539
5,526
+13.0%
Goodwill
2,345
2,390
2,093
-1.9%
Intangible assets
128
156
41.8
-17.8%
Cash and equivalents
1,169
309
1,997
+278.3%
Receivables
236
267
192
-11.7%
Inventory
339
321
203
+5.5%
Other assets
1,262
701
1,203
+80.1%
Total assets
15,131
12,683
11,254
+19.3%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.