Ecolab (ECL) FY2017 results: revenue $11.5 billion, down 12.3% on the year
Ecolab Inc. (ECL) reported revenue of $11.5 billion for fiscal 2017, the year ended 31 December 2017, down 12.3% on the year before. Net income was $1.5 billion, up 22.4%, and diluted earnings per share $5.13. The figures are the company's own, from the 10-Q it filed with the SEC on 3 May 2018.
Revenue
$11.5 billion
-12.3% on the year
FY2010FY2017
Operating margin
15.2%
14.2% a year earlier
FY2010FY2017
Net income
$1.5 billion
+22.4% on the year
FY2010FY2017
Diluted EPS
$5.13
+23.9% on the year
FY2010FY2017
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
11,531
13,152
13,545
-12.3%
Cost of revenue
6,415
7,534
7,224
-14.9%
Gross profit
5,116
5,618
6,322
-8.9%
Gross margin
44.4%
42.7%
46.7%
Research and development
177
189
191
-6.3%
Selling, general and administrative
3,364
3,708
4,346
-9.3%
Operating income
1,747
1,870
1,561
-6.6%
Operating margin
15.2%
14.2%
11.5%
Interest expense
272
285
254
-4.6%
Pre-tax income
1,560
1,650
1,318
-5.5%
Income tax
190
403
300
-52.9%
Effective tax rate
12.2%
24.4%
22.8%
Net income
1,505
1,230
1,002
+22.4%
Net margin
13.0%
9.3%
7.4%
Diluted EPS
$5.13
$4.14
$3.32
+23.9%
$ 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
2,091
1,940
2,000
+7.8%
Capital expenditure
787
757
771
+4.0%
Free cash flow
1,304
1,183
1,229
+10.2%
Free cash flow margin
11.3%
9.0%
9.1%
Cash from investing
-1,727
-774
-916
Cash from financing
-523
-868
-1,151
Depreciation and amortisation
685
851
852
-19.5%
Share-based compensation
85.5
85.7
78.2
-0.2%
Buybacks
600
740
755
-18.8%
Dividends paid
443
428
401
+3.7%
Dividend per share
$1.52
$1.42
$1.34
+7.0%
Diluted shares, weighted
294m
297m
301m
-0.9%
Shares outstanding at period end
289m
292m
296m
-0.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
7,584
6,901
6,910
+9.9%
Non-controlling interest
70.2
69.8
70.5
+0.6%
Debt
7,323
6,687
6,466
+9.5%
Other liabilities
4,986
4,672
5,196
+6.7%
Total liabilities and equity
19,962
18,330
18,642
+8.9%
Fixed assets
3,707
3,365
3,228
+10.2%
Goodwill
5,467
6,383
6,491
-14.4%
Intangible assets
4,018
3,818
4,109
+5.2%
Cash and equivalents
211
327
92.8
-35.4%
Receivables
2,574
2,341
2,390
+9.9%
Inventory
1,446
1,319
1,388
+9.6%
Other assets
2,540
776
942
+227.1%
Total assets
19,962
18,330
18,642
+8.9%
10-Q for the year ended 31 December 2017, filed 3 May 2018: the filing.