CVR Energy (CVI) FY2015 results: revenue $5.4 billion, down 40.4% on the year
CVR Energy Inc. (CVI) reported revenue of $5.4 billion for fiscal 2015, the year ended 31 December 2015, down 40.4% on the year before. Net income was $170 million, down 2.5%, and diluted earnings per share $1.95. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$5.4 billion
-40.4% on the year
FY2009FY2015
Operating margin
7.8%
2.9% a year earlier
FY2009FY2015
Net income
$170 million
-2.5% on the year
FY2009FY2015
Diluted EPS
$1.95
-2.5% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,432
9,110
8,986
-40.4%
Cost of revenue
4,932
8,729
n/a
-43.5%
Gross profit
501
380
n/a
+31.7%
Gross margin
9.2%
4.2%
n/a
Selling, general and administrative
99.0
110
114
-9.8%
Operating income
422
264
710
+59.5%
Operating margin
7.8%
2.9%
7.9%
Interest expense
48.4
40.0
50.5
+21.0%
Pre-tax income
382
407
706
-6.1%
Income tax
84.5
97.7
184
-13.5%
Effective tax rate
22.1%
24.0%
26.0%
Net income
170
174
371
-2.5%
Net margin
3.1%
1.9%
4.1%
Diluted EPS
$1.95
$2.00
$4.27
-2.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
537
640
440
-16.2%
Capital expenditure
219
218
256
+0.1%
Free cash flow
318
422
184
-24.6%
Free cash flow margin
5.9%
4.6%
2.0%
Depreciation and amortisation
164
154
143
+6.3%
Share-based compensation
12.8
12.3
18.4
+4.1%
Buybacks
n/a
n/a
0.0
Dividends paid
174
434
1,237
-60.0%
Dividend per share
$2.00
$5.00
$14.25
-60.0%
Diluted shares, weighted
87m
87m
87m
0.0%
Shares outstanding at period end
87m
87m
87m
0.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
984
988
1,189
-0.4%
Non-controlling interest
616
687
647
-10.3%
Debt
667
674
675
-1.0%
Other liabilities
1,038
1,106
1,156
-6.1%
Total liabilities and equity
3,306
3,454
3,666
-4.3%
Fixed assets
1,967
1,916
1,864
+2.7%
Goodwill
41.0
41.0
41.0
0.0%
Intangible assets
0.2
0.2
0.3
0.0%
Cash and equivalents
765
754
842
+1.5%
Receivables
95.8
137
242
-29.9%
Inventory
290
330
527
-12.0%
Other assets
147
277
150
-47.1%
Total assets
3,306
3,454
3,666
-4.3%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.