DXP Enterprises (DXPE) FY2016 results: revenue $962 million, down 22.9% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $962 million for fiscal 2016, the year ended 31 December 2016, down 22.9% on the year before. Net income was $8 million, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2019.
Revenue
$962 million
-22.9% on the year
FY2009FY2016
Operating margin
2.0%
-2.2% a year earlier
FY2009FY2016
Net income
$8 million
FY2009FY2016
Diluted EPS
$0.49
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
962
1,247
1,500
-22.9%
Cost of revenue
697
895
1,067
-22.1%
Gross profit
265
352
433
-24.8%
Gross margin
27.5%
28.2%
28.9%
Selling, general and administrative
245
304
328
-19.2%
Operating income
19.3
-27.9
-12.6
Operating margin
2.0%
-2.2%
-0.8%
Interest expense
15.6
10.9
12.8
+42.4%
Pre-tax income
9.7
-38.9
-25.6
Income tax
2.5
0.1
19.7
+1,582.0%
Effective tax rate
26.1%
n/a
n/a
Net income
7.7
-38.5
-45.2
Net margin
0.8%
-3.1%
-3.0%
Diluted EPS
$0.49
-$2.68
-$3.10
$ 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
48.2
98.8
100
-51.2%
Capital expenditure
4.9
14.0
11.1
-65.2%
Free cash flow
43.4
84.8
89.4
-48.9%
Free cash flow margin
4.5%
6.8%
6.0%
Cash from investing
27.8
-29.5
n/a
Cash from financing
-76.1
-67.9
n/a
Depreciation and amortisation
30.0
33.2
35.1
-9.8%
Share-based compensation
3.6
3.0
3.6
+20.4%
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
16m
14m
15m
+10.1%
Shares outstanding at period end
17m
15m
n/a
+17.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
252
197
243
+27.7%
Non-controlling interest
0.9
1.8
0.0
-48.9%
Short-term borrowings
n/a
50.8
n/a
Debt
225
350
409
-35.7%
Other liabilities
125
84.8
190
+47.2%
Total liabilities and equity
602
684
842
-12.0%
Fixed assets
60.8
68.5
70.0
-11.2%
Goodwill
188
197
253
-5.0%
Intangible assets
94.8
112
130
-15.6%
Cash and equivalents
1.6
1.7
0.0
-6.1%
Receivables
149
163
239
-8.6%
Inventory
83.7
104
116
-19.4%
Other assets
24.6
37.4
33.1
-34.2%
Total assets
602
684
842
-12.0%
10-K for the year ended 31 December 2016, filed 8 March 2019: the filing.