Ecolab (ECL) FY2016 results: revenue $13.2 billion, down 2.9% on the year
Ecolab Inc. (ECL) reported revenue of $13.2 billion for fiscal 2016, the year ended 31 December 2016, down 2.9% on the year before. Net income was $1.2 billion, up 22.7%, and diluted earnings per share $4.14. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$13.2 billion
-2.9% on the year
FY2009FY2016
Operating margin
14.2%
11.5% a year earlier
FY2009FY2016
Net income
$1.2 billion
+22.7% on the year
FY2009FY2016
Diluted EPS
$4.14
+24.7% 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
13,152
13,545
14,280
-2.9%
Cost of revenue
7,534
7,224
7,679
+4.3%
Gross profit
5,618
6,322
6,601
-11.1%
Gross margin
42.7%
46.7%
46.2%
Research and development
189
191
197
-1.0%
Selling, general and administrative
3,708
4,346
4,578
-14.7%
Operating income
1,870
1,561
1,955
+19.8%
Operating margin
14.2%
11.5%
13.7%
Interest expense
285
254
268
+12.5%
Pre-tax income
1,650
1,318
1,698
+25.2%
Income tax
403
300
476
+34.2%
Effective tax rate
24.4%
22.8%
28.0%
Net income
1,230
1,002
1,203
+22.7%
Net margin
9.3%
7.4%
8.4%
Diluted EPS
$4.14
$3.32
$3.93
+24.7%
$ 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
1,940
2,000
1,816
-3.0%
Capital expenditure
757
771
749
-1.8%
Free cash flow
1,183
1,229
1,067
-3.7%
Free cash flow margin
9.0%
9.1%
7.5%
Cash from investing
-774
-916
n/a
Cash from financing
-868
-1,151
n/a
Depreciation and amortisation
851
852
863
-0.1%
Share-based compensation
85.7
78.2
71.1
+9.6%
Buybacks
740
755
429
-2.1%
Dividends paid
428
401
344
+6.7%
Dividend per share
$1.42
$1.34
$1.16
+6.0%
Diluted shares, weighted
297m
301m
306m
-1.6%
Shares outstanding at period end
292m
296m
300m
-1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,901
6,910
7,316
-0.1%
Non-controlling interest
69.8
70.5
66.2
-1.0%
Debt
6,687
6,466
6,548
+3.4%
Other liabilities
4,672
5,196
5,497
-10.1%
Total liabilities and equity
18,330
18,642
19,427
-1.7%
Fixed assets
3,365
3,228
3,051
+4.2%
Goodwill
6,383
6,491
6,717
-1.7%
Intangible assets
3,818
4,109
4,457
-7.1%
Cash and equivalents
327
92.8
210
+252.8%
Receivables
2,341
2,390
2,627
-2.1%
Inventory
1,319
1,388
1,467
-5.0%
Other assets
776
942
900
-17.6%
Total assets
18,330
18,642
19,427
-1.7%
10-K for the year ended 31 December 2016, filed 1 March 2019: the filing.