Quest Diagnostics (DGX) FY2017 results: revenue $7.4 billion, up 2.6% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.4 billion for fiscal 2017, the year ended 31 December 2017, up 2.6% on the year before. Net income was $772 million, up 19.7%, and diluted earnings per share $5.50. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$7.4 billion
+2.6% on the year
FY2010FY2017
Operating margin
15.7%
17.7% a year earlier
FY2010FY2017
Net income
$772 million
+19.7% on the year
FY2010FY2017
Diluted EPS
$5.50
+22.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,402
7,214
7,493
+2.6%
Cost of revenue
4,719
4,616
4,657
+2.2%
Gross profit
2,683
2,598
2,836
+3.3%
Gross margin
36.2%
36.0%
37.8%
Selling, general and administrative
1,443
1,380
1,679
+4.6%
Operating income
1,165
1,277
1,399
-8.8%
Operating margin
15.7%
17.7%
18.7%
Interest expense
153
144
154
+6.2%
Pre-tax income
1,030
1,086
1,103
-5.2%
Income tax
241
429
373
-43.8%
Effective tax rate
23.4%
39.5%
33.8%
Net income
772
645
709
+19.7%
Net margin
10.4%
8.9%
9.5%
Diluted EPS
$5.50
$4.51
$4.87
+22.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,175
1,116
821
+5.3%
Capital expenditure
252
293
263
-14.0%
Free cash flow
923
823
558
+12.2%
Free cash flow margin
12.5%
11.4%
7.4%
Cash from investing
-830
-127
-362
Cash from financing
-592
-738
-518
Depreciation and amortisation
270
249
304
+8.4%
Share-based compensation
79.0
69.0
52.0
+14.5%
Buybacks
465
590
224
-21.2%
Dividends paid
247
223
212
+10.8%
Dividend per share
$1.80
$1.65
$1.52
+9.1%
Diluted shares, weighted
140m
142m
145m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,921
4,628
4,684
+6.3%
Non-controlling interest
34.0
32.0
29.0
+6.2%
Redeemable equity
80.0
77.0
70.0
+3.9%
Debt
3,784
3,734
3,651
+1.3%
Other liabilities
1,684
1,629
1,528
+3.4%
Total liabilities and equity
10,503
10,100
9,962
+4.0%
Fixed assets
1,145
1,029
925
+11.3%
Goodwill
6,335
6,000
5,905
+5.6%
Intangible assets
1,119
949
984
+17.9%
Cash and equivalents
137
359
133
-61.8%
Receivables
924
926
901
-0.2%
Inventory
95.0
82.0
84.0
+15.9%
Other assets
748
755
1,030
-0.9%
Total assets
10,503
10,100
9,962
+4.0%
10-K for the year ended 31 December 2017, filed 20 February 2020: the filing.