CF Industries Holdings (CF) FY2017 results: revenue $4.1 billion, up 12.1% on the year
CF Industries Holdings, Inc. (CF) reported revenue of $4.1 billion for fiscal 2017, the year ended 31 December 2017, up 12.1% on the year before. Net income was $358 million, and diluted earnings per share $1.53. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$4.1 billion
+12.1% on the year
FY2010FY2017
Operating margin
5.7%
3.7% a year earlier
FY2010FY2017
Net income
$358 million
FY2010FY2017
Diluted EPS
$1.53
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
4,130
3,685
4,308
+12.1%
Cost of revenue
3,696
2,842
2,761
+30.0%
Gross profit
434
843
1,547
-48.5%
Gross margin
10.5%
22.9%
35.9%
Selling, general and administrative
191
173
170
+10.4%
Operating income
234
138
1,193
+69.6%
Operating margin
5.7%
3.7%
27.7%
Interest expense
315
200
133
+57.5%
Pre-tax income
-125
-226
1,058
Income tax
-575
-68.0
396
Effective tax rate
n/a
n/a
37.4%
Net income
358
-277
700
Net margin
8.7%
-7.5%
16.2%
Diluted EPS
$1.53
-$1.19
$2.96
$ 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
1,631
617
1,207
+164.3%
Capital expenditure
473
2,211
2,469
-78.6%
Free cash flow
1,158
-1,594
-1,262
Free cash flow margin
28.0%
-43.3%
-29.3%
Cash from investing
-413
-2,195
-2,976
Cash from financing
-1,564
2,439
77.0
Depreciation and amortisation
883
678
480
+30.2%
Share-based compensation
17.0
19.0
17.0
-10.5%
Buybacks
0.0
0.0
556
Dividends paid
280
280
282
0.0%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Diluted shares, weighted
234m
233m
236m
+0.3%
Shares outstanding at period end
233m
233m
233m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,579
3,348
4,035
+6.9%
Non-controlling interest
3,105
3,144
352
-1.2%
Debt
4,692
5,778
5,537
-18.8%
Other liabilities
2,087
2,861
2,759
-27.1%
Total liabilities and equity
13,463
15,131
12,683
-11.0%
Fixed assets
9,175
9,652
8,539
-4.9%
Goodwill
2,371
2,345
2,390
+1.1%
Intangible assets
129
128
156
+0.8%
Cash and equivalents
835
1,169
309
-28.6%
Receivables
307
236
267
+30.1%
Inventory
275
339
321
-18.9%
Other assets
371
1,262
701
-70.6%
Total assets
13,463
15,131
12,683
-11.0%
10-K for the year ended 31 December 2017, filed 22 February 2019: the filing.