Emerson Electric (EMR) FY2015 results: revenue $16.2 billion, down 8.4% on the year
Emerson Electric Co. (EMR) reported revenue of $16.2 billion for fiscal 2015, the year ended 30 September 2015, down 8.4% on the year before. Net income was $2.7 billion, up 26.2%, and diluted earnings per share $3.99. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2015.
Revenue
$16.2 billion
-8.4% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$2.7 billion
+26.2% on the year
FY2008FY2015
Diluted EPS
$3.99
+31.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
16,249
17,733
24,669
-8.4%
Cost of revenue
9,241
9,971
14,717
-7.3%
Gross profit
7,008
7,762
9,952
-9.7%
Gross margin
43.1%
43.8%
40.3%
Research and development
336
356
576
-5.6%
Selling, general and administrative
3,735
4,164
5,648
-10.3%
Pre-tax income
3,807
3,191
3,196
+19.3%
Income tax
1,267
953
1,130
+32.9%
Effective tax rate
33.3%
29.9%
35.4%
Net income
2,710
2,147
2,004
+26.2%
Net margin
16.7%
12.1%
8.1%
Diluted EPS
$3.99
$3.03
$2.76
+31.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,529
3,692
3,649
-31.5%
Capital expenditure
588
651
678
-9.7%
Free cash flow
1,941
3,041
2,971
-36.2%
Free cash flow margin
11.9%
17.1%
12.0%
Cash from investing
591
-1,159
-789
Cash from financing
-2,948
-2,559
-1,933
Depreciation and amortisation
573
569
819
+0.7%
Share-based compensation
24.0
123
221
-80.5%
Buybacks
2,501
1,048
1,110
+138.6%
Dividends paid
1,269
1,210
1,181
+4.9%
Dividend per share
$1.88
$1.72
$1.64
+9.3%
Diluted shares, weighted
676m
704m
723m
-3.9%
Shares outstanding at period end
655m
697m
707m
-6.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
8,081
10,119
10,585
-20.1%
Non-controlling interest
47.0
48.0
133
-2.1%
Debt
6,841
6,024
5,642
+13.6%
Other liabilities
7,119
7,986
8,351
-10.9%
Total liabilities and equity
22,088
24,177
24,711
-8.6%
Fixed assets
2,929
3,802
3,605
-23.0%
Goodwill
3,847
4,238
7,509
-9.2%
Intangible assets
938
1,689
1,672
-44.5%
Investments
99.0
n/a
n/a
Cash and equivalents
3,054
3,149
3,275
-3.0%
Receivables
2,870
5,019
4,808
-42.8%
Inventory
1,265
2,057
1,895
-38.5%
Other assets
7,086
4,223
1,947
+67.8%
Total assets
22,088
24,177
24,711
-8.6%
10-K for the year ended 30 September 2015, filed 18 November 2015: the filing.