Dnow (DNOW) FY2017 results: revenue $2.6 billion, up 25.7% on the year
Dnow Inc. (DNOW) reported revenue of $2.6 billion for fiscal 2017, the year ended 31 December 2017, up 25.7% on the year before. Net income was -$52 million, and diluted earnings per share $-0.48. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2018.
Revenue
$2.6 billion
+25.7% on the year
FY2012FY2017
Operating margin
-1.5%
-10.5% a year earlier
FY2012FY2017
Net income
-$52 million
FY2012FY2017
Diluted EPS
-$0.48
FY2012FY2017
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
2,648
2,107
3,010
+25.7%
Cost of revenue
2,147
1,762
2,508
+21.9%
Gross profit
501
345
502
+45.2%
Gross margin
18.9%
16.4%
16.7%
Operating income
-41.0
-222
-510
Operating margin
-1.5%
-10.5%
-16.9%
Pre-tax income
-52.0
-230
-518
Income tax
n/a
4.0
-16.0
Net income
-52.0
-234
-502
Net margin
-2.0%
-11.1%
-16.7%
Diluted EPS
-$0.48
-$2.18
-$4.68
$ 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
-115
235
324
Capital expenditure
4.0
4.0
11.0
0.0%
Free cash flow
-119
231
313
Free cash flow margin
-4.5%
11.0%
10.4%
Cash from investing
8.0
-183
n/a
Cash from financing
94.0
-47.0
n/a
Depreciation and amortisation
50.0
53.0
38.0
-5.7%
Share-based compensation
20.0
23.0
27.0
-13.0%
Diluted shares, weighted
108m
107m
107m
+0.3%
Shares outstanding at period end
108m
107m
107m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,185
1,183
1,403
+0.2%
Short-term borrowings
35.0
44.0
83.0
-20.5%
Debt
162
65.0
108
+149.2%
Other liabilities
367
311
238
+18.0%
Total liabilities and equity
1,749
1,603
1,832
+9.1%
Fixed assets
119
143
165
-16.8%
Goodwill
328
311
205
+5.5%
Intangible assets
166
184
161
-9.8%
Cash and equivalents
98.0
106
90.0
-7.5%
Receivables
423
354
485
+19.5%
Inventory
590
483
693
+22.2%
Other assets
25.0
22.0
33.0
+13.6%
Total assets
1,749
1,603
1,832
+9.1%
10-K for the year ended 31 December 2017, filed 14 February 2018: the filing.