Emerson Electric (EMR) FY2017 results: revenue $15.3 billion, up 5.1% on the year
Emerson Electric Co. (EMR) reported revenue of $15.3 billion for fiscal 2017, the year ended 30 September 2017, up 5.1% on the year before. Net income was $1.5 billion, down 7.2%, and diluted earnings per share $2.35. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2017.
Revenue
$15.3 billion
+5.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$1.5 billion
-7.2% on the year
FY2010FY2017
Diluted EPS
$2.35
-6.7% 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
15,264
14,522
16,249
+5.1%
Cost of revenue
8,833
8,260
9,241
+6.9%
Gross profit
6,404
6,262
7,008
+2.3%
Gross margin
42.0%
43.1%
43.1%
Research and development
340
320
336
+6.2%
Selling, general and administrative
3,607
3,464
3,735
+4.1%
Pre-tax income
2,335
2,316
3,807
+0.8%
Income tax
660
697
1,267
-5.3%
Effective tax rate
28.3%
30.1%
33.3%
Net income
1,518
1,635
2,710
-7.2%
Net margin
9.9%
11.3%
16.7%
Diluted EPS
$2.35
$2.52
$3.99
-6.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,912
2,881
2,529
-33.6%
Capital expenditure
476
447
588
+6.5%
Free cash flow
1,436
2,434
1,941
-41.0%
Free cash flow margin
9.4%
16.8%
11.9%
Cash from investing
1,514
-626
591
Cash from financing
-3,591
-2,045
-2,948
Depreciation and amortisation
636
568
573
+12.0%
Share-based compensation
110
145
24.0
-24.1%
Buybacks
400
601
2,501
-33.4%
Dividends paid
1,239
1,227
1,269
+1.0%
Dividend per share
$1.92
$1.90
$1.88
+1.1%
Diluted shares, weighted
643m
647m
676m
-0.5%
Shares outstanding at period end
642m
643m
655m
-0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,718
7,568
8,081
+15.2%
Non-controlling interest
52.0
50.0
47.0
+4.0%
Debt
4,656
6,635
6,841
-29.8%
Other liabilities
6,163
7,490
7,119
-17.7%
Total liabilities and equity
19,589
21,743
22,088
-9.9%
Fixed assets
3,321
2,931
2,929
+13.3%
Goodwill
5,316
3,909
3,847
+36.0%
Intangible assets
1,890
902
938
+109.5%
Investments
n/a
99.0
99.0
Cash and equivalents
3,062
3,182
3,054
-3.8%
Receivables
3,072
2,701
2,870
+13.7%
Inventory
1,696
1,208
1,265
+40.4%
Other assets
1,232
6,811
7,086
-81.9%
Total assets
19,589
21,743
22,088
-9.9%
10-K for the year ended 30 September 2017, filed 20 November 2017: the filing.