Dnow (DNOW) FY2016 results: revenue $2.1 billion, down 30.0% on the year
Dnow Inc. (DNOW) reported revenue of $2.1 billion for fiscal 2016, the year ended 31 December 2016, down 30.0% on the year before. Net income was -$234 million, and diluted earnings per share $-2.18. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2017.
Revenue
$2.1 billion
-30.0% on the year
FY2012FY2016
Operating margin
-10.5%
-16.9% a year earlier
FY2012FY2016
Net income
-$234 million
FY2012FY2016
Diluted EPS
-$2.18
FY2012FY2016
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
2,107
3,010
4,105
-30.0%
Cost of revenue
1,762
2,508
3,286
-29.7%
Gross profit
345
502
819
-31.3%
Gross margin
16.4%
16.7%
20.0%
Selling, general and administrative
n/a
n/a
213
Operating income
-222
-510
181
Operating margin
-10.5%
-16.9%
4.4%
Pre-tax income
-230
-518
178
Income tax
4.0
-16.0
62.0
Effective tax rate
n/a
n/a
34.8%
Net income
-234
-502
116
Net margin
-11.1%
-16.7%
2.8%
Diluted EPS
-$2.18
-$4.68
$1.06
$ 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
235
324
108
-27.5%
Capital expenditure
4.0
11.0
39.0
-63.6%
Free cash flow
231
313
69.0
-26.2%
Free cash flow margin
11.0%
10.4%
1.7%
Cash from investing
-183
n/a
n/a
Cash from financing
-47.0
n/a
n/a
Depreciation and amortisation
53.0
38.0
21.0
+39.5%
Share-based compensation
23.0
27.0
18.0
-14.8%
Diluted shares, weighted
107m
107m
108m
+0.2%
Shares outstanding at period end
107m
107m
107m
+0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,183
1,403
1,966
-15.7%
Short-term borrowings
44.0
83.0
n/a
-47.0%
Debt
65.0
108
0.0
-39.8%
Other liabilities
311
238
630
+30.7%
Total liabilities and equity
1,603
1,832
2,596
-12.5%
Fixed assets
143
165
124
-13.3%
Goodwill
311
205
346
+51.7%
Intangible assets
184
161
73.0
+14.3%
Cash and equivalents
106
90.0
195
+17.8%
Receivables
354
485
851
-27.0%
Inventory
483
693
949
-30.3%
Other assets
22.0
33.0
58.0
-33.3%
Total assets
1,603
1,832
2,596
-12.5%
10-K for the year ended 31 December 2016, filed 15 February 2017: the filing.