Dover (DOV) FY2016 results: revenue $6.0 billion, down 13.1% on the year
Dover Corp. (DOV) reported revenue of $6.0 billion for fiscal 2016, the year ended 31 December 2016, down 13.1% on the year before. Net income was $509 million, down 41.5%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$6.0 billion
-13.1% on the year
FY2009FY2016
Operating margin
11.7%
13.2% a year earlier
FY2009FY2016
Net income
$509 million
-41.5% on the year
FY2009FY2016
Diluted EPS
$3.25
-40.5% 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
6,043
6,956
7,753
-13.1%
Cost of revenue
3,816
4,388
4,778
-13.0%
Gross profit
2,228
2,568
2,974
-13.3%
Gross margin
36.9%
36.9%
38.4%
Research and development
116
115
118
+0.7%
Selling, general and administrative
1,519
1,647
1,759
-7.8%
Operating income
709
921
1,215
-23.0%
Operating margin
11.7%
13.2%
15.7%
Interest expense
136
132
132
+3.3%
Pre-tax income
685
801
1,094
-14.5%
Income tax
183
205
316
-10.8%
Effective tax rate
26.7%
25.6%
28.9%
Net income
509
870
775
-41.5%
Net margin
8.4%
12.5%
10.0%
Diluted EPS
$3.25
$5.46
$4.59
-40.5%
$ 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
863
835
976
+3.3%
Capital expenditure
140
154
166
-9.5%
Free cash flow
723
681
810
+6.2%
Free cash flow margin
12.0%
9.8%
10.4%
Depreciation and amortisation
250
327
307
-23.7%
Share-based compensation
18.6
30.7
31.6
-39.2%
Buybacks
0.0
600
601
Dividends paid
268
258
258
+3.8%
Dividend per share
$1.72
$1.64
$1.55
+4.9%
Diluted shares, weighted
157m
159m
169m
-1.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,800
3,645
3,701
+4.3%
Debt
3,621
2,755
3,031
+31.5%
Other liabilities
2,695
2,220
2,299
+21.4%
Total liabilities and equity
10,116
8,620
9,030
+17.4%
Fixed assets
946
854
837
+10.7%
Goodwill
3,666
3,737
3,492
-1.9%
Intangible assets
1,803
1,413
1,370
+27.6%
Cash and equivalents
349
362
682
-3.6%
Receivables
1,265
1,120
1,187
+12.9%
Inventory
870
803
864
+8.4%
Other assets
1,217
329
600
+269.5%
Total assets
10,116
8,620
9,030
+17.4%
10-K for the year ended 31 December 2016, filed 15 February 2019: the filing.