CNH Industrial (CNH) FY2016 results: revenue $25.1 billion, down 3.2% on the year
CNH Industrial N.V. (CNH) reported revenue of $25.1 billion for fiscal 2016, the year ended 31 December 2016, down 3.2% on the year before. Net income was -$264 million, and diluted earnings per share $-0.19. The figures are the company's own, from the 20-F it filed with the SEC on 2 March 2017.
Revenue
$25.1 billion
-3.2% on the year
FY2011FY2016
Operating margin
5.8%
6.3% a year earlier
FY2011FY2016
Net income
-$264 million
FY2011FY2016
Diluted EPS
-$0.19
FY2011FY2016
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
25,095
25,912
32,555
-3.2%
Cost of revenue
19,420
20,357
25,534
-4.6%
Gross profit
5,675
5,555
7,021
+2.2%
Gross margin
22.6%
21.4%
21.6%
Research and development
860
856
1,106
+0.5%
Selling, general and administrative
2,246
2,317
2,925
-3.1%
Operating income
1,451
1,635
2,199
-11.3%
Operating margin
5.8%
6.3%
6.8%
Interest expense
1,028
1,106
1,318
-7.1%
Pre-tax income
-22.0
567
1,089
Income tax
297
360
467
-17.5%
Effective tax rate
n/a
63.5%
42.9%
Net income
-264
253
710
Net margin
-1.1%
1.0%
2.2%
Diluted EPS
-$0.19
$0.19
$0.52
$ 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
2,768
n/a
n/a
Capital expenditure
2,134
2,507
2,836
-14.9%
Free cash flow
634
n/a
n/a
Free cash flow margin
2.5%
n/a
n/a
Cash from investing
-1,656
n/a
n/a
Cash from financing
-1,538
n/a
n/a
Depreciation and amortisation
716
1,146
1,140
-37.5%
Share-based compensation
3.0
49.0
49.0
-93.9%
Dividends paid
207
297
382
-30.3%
Dividend per share
$0.15
$0.21
$0.28
-30.8%
Diluted shares, weighted
1,362m
1,363m
1,360m
-0.1%
Shares outstanding at period end
1,362m
1,362m
1,355m
-0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,320
4,843
4,961
-10.8%
Redeemable equity
21.0
18.0
16.0
+16.7%
Debt
n/a
50.0
n/a
Other liabilities
41,206
41,835
46,936
-1.5%
Total liabilities and equity
45,547
46,746
51,913
-2.6%
Fixed assets
6,397
6,481
6,865
-1.3%
Goodwill
2,449
2,447
2,484
+0.1%
Intangible assets
787
810
850
-2.8%
Loans
18,662
19,001
21,472
-1.8%
Cash and equivalents
5,017
5,384
5,163
-6.8%
Inventory
5,609
5,690
7,008
-1.4%
Other assets
6,626
6,933
8,071
-4.4%
Total assets
45,547
46,746
51,913
-2.6%
20-F for the year ended 31 December 2016, filed 2 March 2017: the filing.