Emerson Electric (EMR) FY2016 results: revenue $14.5 billion, down 10.6% on the year
Emerson Electric Co. (EMR) reported revenue of $14.5 billion for fiscal 2016, the year ended 30 September 2016, down 10.6% on the year before. Net income was $1.6 billion, down 39.7%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2016.
Revenue
$14.5 billion
-10.6% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$1.6 billion
-39.7% on the year
FY2009FY2016
Diluted EPS
$2.52
-36.8% 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
14,522
16,249
17,733
-10.6%
Cost of revenue
8,260
9,241
9,971
-10.6%
Gross profit
6,262
7,008
7,762
-10.6%
Gross margin
43.1%
43.1%
43.8%
Research and development
320
336
356
-4.8%
Selling, general and administrative
3,464
3,735
4,164
-7.3%
Pre-tax income
2,316
3,807
3,191
-39.2%
Income tax
697
1,267
953
-45.0%
Effective tax rate
30.1%
33.3%
29.9%
Net income
1,635
2,710
2,147
-39.7%
Net margin
11.3%
16.7%
12.1%
Diluted EPS
$2.52
$3.99
$3.03
-36.8%
$ 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
2,881
2,529
3,692
+13.9%
Capital expenditure
447
588
651
-24.0%
Free cash flow
2,434
1,941
3,041
+25.4%
Free cash flow margin
16.8%
11.9%
17.1%
Cash from investing
-626
591
-1,159
Cash from financing
-2,045
-2,948
-2,559
Depreciation and amortisation
568
573
569
-0.9%
Share-based compensation
145
24.0
123
+504.2%
Buybacks
601
2,501
1,048
-76.0%
Dividends paid
1,227
1,269
1,210
-3.3%
Dividend per share
$1.90
$1.88
$1.72
+1.1%
Diluted shares, weighted
647m
676m
704m
-4.4%
Shares outstanding at period end
643m
655m
697m
-1.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,568
8,081
10,119
-6.3%
Non-controlling interest
50.0
47.0
48.0
+6.4%
Debt
6,635
6,841
6,024
-3.0%
Other liabilities
7,490
7,119
7,986
+5.2%
Total liabilities and equity
21,743
22,088
24,177
-1.6%
Fixed assets
2,931
2,929
3,802
+0.1%
Goodwill
3,909
3,847
4,238
+1.6%
Intangible assets
902
938
1,689
-3.8%
Investments
99.0
99.0
n/a
0.0%
Cash and equivalents
3,182
3,054
3,149
+4.2%
Receivables
2,701
2,870
5,019
-5.9%
Inventory
1,208
1,265
2,057
-4.5%
Other assets
6,811
7,086
4,223
-3.9%
Total assets
21,743
22,088
24,177
-1.6%
10-K for the year ended 30 September 2016, filed 16 November 2016: the filing.