Edwards Lifesciences (EW) FY2015 results: revenue $2.5 billion, up 7.4% on the year
Edwards Lifesciences Corp. (EW) reported revenue of $2.5 billion for fiscal 2015, the year ended 31 December 2015, up 7.4% on the year before. Net income was $495 million, down 39.0%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$2.5 billion
+7.4% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$495 million
-39.0% on the year
FY2008FY2015
Diluted EPS
$0.75
-39.8% 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
2,494
2,323
2,046
+7.4%
Cost of revenue
617
626
517
-1.3%
Gross profit
1,876
1,697
1,529
+10.6%
Gross margin
75.2%
73.1%
74.7%
Research and development
383
346
323
+10.6%
Selling, general and administrative
851
858
733
-0.9%
Interest expense
17.2
17.2
9.8
0.0%
Pre-tax income
622
1,144
511
-45.6%
Income tax
128
333
122
-61.7%
Effective tax rate
20.5%
29.1%
23.9%
Net income
495
811
389
-39.0%
Net margin
19.8%
34.9%
19.0%
Diluted EPS
$0.75
$1.25
$0.57
-39.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
550
1,022
473
-46.2%
Capital expenditure
103
82.9
109
+23.9%
Free cash flow
447
939
364
-52.4%
Free cash flow margin
17.9%
40.4%
17.8%
Cash from investing
-316
n/a
n/a
Cash from financing
-159
n/a
n/a
Depreciation and amortisation
65.8
68.6
62.9
-4.1%
Share-based compensation
49.9
48.3
47.4
+3.3%
Buybacks
280
301
497
-6.9%
Diluted shares, weighted
661m
651m
683m
+1.5%
Shares outstanding at period end
646m
647m
328m
-0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,503
2,191
1,544
+14.2%
Debt
597
598
600
-0.2%
Other liabilities
959
735
566
+30.6%
Total liabilities and equity
4,059
3,524
2,710
+15.2%
Fixed assets
482
443
422
+8.9%
Goodwill
628
376
385
+67.1%
Intangible assets
205
23.4
33.5
+777.8%
Investments
886
1,026
538
-13.6%
Cash and equivalents
718
654
420
+9.9%
Receivables
315
288
302
+9.5%
Inventory
340
297
309
+14.5%
Other assets
483
418
299
+15.7%
Total assets
4,059
3,524
2,710
+15.2%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.