EchoStar (ECHO) FY2016 results: revenue $1.8 billion, down 2.1% on the year
EchoStar Corp. (ECHO) reported revenue of $1.8 billion for fiscal 2016, the year ended 31 December 2016, down 2.1% on the year before. Net income was $180 million, up 17.3%, and diluted earnings per share $1.92. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$1.8 billion
-2.1% on the year
FY2009FY2016
Operating margin
16.4%
14.8% a year earlier
FY2009FY2016
Net income
$180 million
+17.3% on the year
FY2009FY2016
Diluted EPS
$1.92
+9.7% 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
1,810
1,849
3,446
-2.1%
Cost of revenue
725
770
2,128
-5.8%
Gross profit
1,085
1,079
1,318
+0.6%
Gross margin
59.9%
58.4%
38.2%
Research and development
31.2
26.4
60.9
+18.2%
Selling, general and administrative
325
318
372
+2.2%
Operating income
296
274
328
+8.2%
Operating margin
16.4%
14.8%
9.5%
Interest expense
124
122
171
+1.3%
Pre-tax income
217
139
178
+55.5%
Income tax
80.3
51.2
30.8
+56.6%
Effective tax rate
37.0%
36.8%
17.3%
Net income
180
153
153
+17.3%
Net margin
9.9%
8.3%
4.4%
Diluted EPS
$1.92
$1.75
$1.78
+9.7%
$ 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
803
776
840
+3.5%
Capital expenditure
722
809
680
-10.7%
Free cash flow
81.0
-32.8
160
Free cash flow margin
4.5%
-1.8%
4.6%
Cash from investing
-632
-275
n/a
Cash from financing
1,476
-120
n/a
Depreciation and amortisation
433
461
557
-6.1%
Share-based compensation
15.2
21.8
14.7
-30.2%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
94m
93m
93m
+1.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,920
3,695
3,533
+6.1%
Non-controlling interest
86.7
86.2
90.5
+0.7%
Debt
3,358
1,860
2,368
+80.6%
Other liabilities
1,644
1,568
1,263
+4.8%
Total liabilities and equity
9,009
7,209
7,254
+25.0%
Fixed assets
3,398
3,413
3,195
-0.4%
Goodwill
504
511
511
-1.3%
Intangible assets
80.7
133
196
-39.1%
Investments
523
612
1,139
-14.7%
Cash and equivalents
2,571
924
549
+178.2%
Receivables
183
179
163
+1.8%
Inventory
62.6
67.0
63.0
-6.6%
Other assets
1,687
1,370
1,439
+23.1%
Total assets
9,009
7,209
7,254
+25.0%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.