Chevron (CVX) FY2016 results: revenue $114.5 billion, down 17.3% on the year
Chevron Corp. (CVX) reported revenue of $114.5 billion for fiscal 2016, the year ended 31 December 2016, down 17.3% on the year before. Net income was -$497 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$114.5 billion
-17.3% on the year
FY2009FY2016
Operating margin
-1.9%
3.5% a year earlier
FY2009FY2016
Net income
-$497 million
FY2009FY2016
Diluted EPS
-$0.27
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
114,472
138,477
211,970
-17.3%
Cost of revenue
59,321
n/a
n/a
Gross profit
55,151
n/a
n/a
Gross margin
48.2%
n/a
n/a
Research and development
476
601
707
-20.8%
Selling, general and administrative
4,305
4,443
4,494
-3.1%
Operating income
-2,160
4,842
31,202
Operating margin
-1.9%
3.5%
14.7%
Interest expense
201
0.0
0.0
Pre-tax income
-2,160
4,842
31,202
Income tax
-1,729
132
11,892
Effective tax rate
n/a
2.7%
38.1%
Net income
-497
4,587
19,241
Net margin
-0.4%
3.3%
9.1%
Diluted EPS
-$0.27
$2.45
$10.14
$ 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
12,690
19,456
31,475
-34.8%
Capital expenditure
18,109
29,504
35,407
-38.6%
Free cash flow
-5,419
-10,048
-3,932
Free cash flow margin
-4.7%
-7.3%
-1.9%
Cash from investing
-16,370
-23,808
-29,893
Cash from financing
25.0
2,815
-4,999
-99.1%
Depreciation and amortisation
19,457
21,037
16,793
-7.5%
Buybacks
2.0
2.0
5,006
0.0%
Dividends paid
8,032
7,992
7,928
+0.5%
Diluted shares, weighted
1,873m
1,875m
1,898m
-0.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
145,556
152,716
155,028
-4.7%
Non-controlling interest
1,166
1,170
1,163
-0.3%
Debt
46,033
38,469
27,750
+19.7%
Other liabilities
67,323
72,185
82,085
-6.7%
Total liabilities and equity
260,078
264,540
266,026
-1.7%
Fixed assets
182,186
188,396
183,173
-3.3%
Goodwill
4,581
4,588
4,593
-0.2%
Investments
13.0
310
422
-95.8%
Cash and equivalents
6,988
11,022
12,785
-36.6%
Inventory
5,419
6,334
6,505
-14.4%
Other assets
60,891
53,890
58,548
+13.0%
Total assets
260,078
264,540
266,026
-1.7%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.