Quest Diagnostics (DGX) FY2015 results: revenue $7.5 billion, up 0.8% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.5 billion for fiscal 2015, the year ended 31 December 2015, up 0.8% on the year before. Net income was $709 million, up 27.5%, and diluted earnings per share $4.87. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$7.5 billion
+0.8% on the year
FY2008FY2015
Operating margin
18.7%
13.2% a year earlier
FY2008FY2015
Net income
$709 million
+27.5% on the year
FY2008FY2015
Diluted EPS
$4.87
+27.8% on the year
FY2008FY2015
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
7,493
7,435
7,146
+0.8%
Cost of revenue
4,657
4,637
4,326
+0.4%
Gross profit
2,836
2,798
2,820
+1.4%
Gross margin
37.8%
37.6%
39.5%
Selling, general and administrative
1,679
1,728
1,704
-2.8%
Operating income
1,399
983
1,475
+42.3%
Operating margin
18.7%
13.2%
20.6%
Interest expense
154
167
n/a
-7.8%
Pre-tax income
1,103
823
1,324
+34.0%
Income tax
373
262
500
+42.4%
Effective tax rate
33.8%
31.8%
37.8%
Net income
709
556
849
+27.5%
Net margin
9.5%
7.5%
11.9%
Diluted EPS
$4.87
$3.81
$5.54
+27.8%
$ 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
821
944
652
-13.0%
Capital expenditure
263
308
231
-14.6%
Free cash flow
558
636
421
-12.3%
Free cash flow margin
7.4%
8.6%
5.9%
Cash from investing
-362
-1,025
328
Cash from financing
-518
86.0
-1,106
Depreciation and amortisation
304
314
283
-3.2%
Share-based compensation
52.0
51.0
28.0
+2.0%
Buybacks
224
132
1,037
+69.7%
Dividends paid
212
187
185
+13.4%
Dividend per share
$1.52
$1.32
$1.20
+15.2%
Diluted shares, weighted
145m
145m
153m
0.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,684
4,301
3,948
+8.9%
Non-controlling interest
29.0
29.0
25.0
0.0%
Redeemable equity
70.0
0.0
0.0
Debt
3,651
3,742
3,332
-2.4%
Other liabilities
1,528
1,785
1,643
-14.4%
Total liabilities and equity
9,962
9,857
8,948
+1.1%
Fixed assets
925
933
805
-0.9%
Goodwill
5,905
6,032
5,649
-2.1%
Intangible assets
984
1,071
896
-8.1%
Cash and equivalents
133
192
187
-30.7%
Receivables
901
932
852
-3.3%
Inventory
84.0
110
91.0
-23.6%
Other assets
1,030
587
468
+75.5%
Total assets
9,962
9,857
8,948
+1.1%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.