Quest Diagnostics (DGX) FY2016 results: revenue $7.2 billion, down 3.7% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.2 billion for fiscal 2016, the year ended 31 December 2016, down 3.7% on the year before. Net income was $645 million, down 9.0%, and diluted earnings per share $4.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$7.2 billion
-3.7% on the year
FY2009FY2016
Operating margin
17.7%
18.7% a year earlier
FY2009FY2016
Net income
$645 million
-9.0% on the year
FY2009FY2016
Diluted EPS
$4.51
-7.4% on the year
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
7,214
7,493
7,435
-3.7%
Cost of revenue
4,616
4,657
4,637
-0.9%
Gross profit
2,598
2,836
2,798
-8.4%
Gross margin
36.0%
37.8%
37.6%
Selling, general and administrative
1,380
1,679
1,728
-17.8%
Operating income
1,277
1,399
983
-8.7%
Operating margin
17.7%
18.7%
13.2%
Interest expense
144
154
167
-6.5%
Pre-tax income
1,086
1,103
823
-1.5%
Income tax
429
373
262
+15.0%
Effective tax rate
39.5%
33.8%
31.8%
Net income
645
709
556
-9.0%
Net margin
8.9%
9.5%
7.5%
Diluted EPS
$4.51
$4.87
$3.81
-7.4%
$ 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
1,116
821
944
+35.9%
Capital expenditure
293
263
308
+11.4%
Free cash flow
823
558
636
+47.5%
Free cash flow margin
11.4%
7.4%
8.6%
Cash from investing
-127
-362
-1,025
Cash from financing
-738
-518
86.0
Depreciation and amortisation
249
304
314
-18.1%
Share-based compensation
69.0
52.0
51.0
+32.7%
Buybacks
590
224
132
+163.4%
Dividends paid
223
212
187
+5.2%
Dividend per share
$1.65
$1.52
$1.32
+8.6%
Diluted shares, weighted
142m
145m
145m
-2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,628
4,684
4,301
-1.2%
Non-controlling interest
32.0
29.0
29.0
+10.3%
Redeemable equity
77.0
70.0
0.0
+10.0%
Debt
3,734
3,651
3,742
+2.3%
Other liabilities
1,629
1,528
1,785
+6.6%
Total liabilities and equity
10,100
9,962
9,857
+1.4%
Fixed assets
1,029
925
933
+11.2%
Goodwill
6,000
5,905
6,032
+1.6%
Intangible assets
949
984
1,071
-3.6%
Cash and equivalents
359
133
192
+169.9%
Receivables
926
901
932
+2.8%
Inventory
82.0
84.0
110
-2.4%
Other assets
755
1,030
587
-26.7%
Total assets
10,100
9,962
9,857
+1.4%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.