Fortune Brands Innovations (FBIN) FY2016 results: revenue $5.0 billion, up 8.9% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $5.0 billion for fiscal 2016, the year ended 31 December 2016, up 8.9% on the year before. Net income was $413 million, up 31.2%, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$5.0 billion
+8.9% on the year
FY2009FY2016
Operating margin
12.4%
10.8% a year earlier
FY2009FY2016
Net income
$413 million
+31.2% on the year
FY2009FY2016
Diluted EPS
$2.62
+35.8% 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
4,985
4,579
4,014
+8.9%
Cost of revenue
3,189
2,998
2,647
+6.4%
Gross profit
1,805
1,582
1,367
+14.1%
Gross margin
36.2%
34.5%
34.1%
Research and development
53.1
48.7
46.1
+9.0%
Selling, general and administrative
1,136
1,048
943
+8.4%
Operating income
619
496
404
+24.7%
Operating margin
12.4%
10.8%
10.1%
Interest expense
49.1
31.9
10.4
+53.9%
Pre-tax income
582
460
392
+26.6%
Income tax
170
153
118
+10.6%
Effective tax rate
29.2%
33.4%
30.2%
Net income
413
315
158
+31.2%
Net margin
8.3%
6.9%
3.9%
Diluted EPS
$2.62
$1.93
$0.95
+35.8%
$ 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
650
429
266
+51.6%
Capital expenditure
149
128
128
+16.2%
Free cash flow
501
301
139
+66.7%
Free cash flow margin
10.1%
6.6%
3.5%
Cash from investing
-385
-767
-151
Cash from financing
-250
399
-160
Depreciation and amortisation
123
115
96.0
+6.6%
Share-based compensation
32.0
27.6
29.7
+15.9%
Buybacks
424
51.7
440
+721.1%
Dividends paid
98.2
89.5
77.4
+9.7%
Dividend per share
$0.66
$0.58
$0.50
+13.8%
Diluted shares, weighted
158m
163m
166m
-3.2%
Shares outstanding at period end
153m
160m
158m
-4.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,362
2,451
2,260
-3.6%
Non-controlling interest
1.5
2.9
3.6
-48.3%
Debt
1,431
1,169
670
+22.5%
Other liabilities
1,334
1,256
1,120
+6.2%
Total liabilities and equity
5,128
4,879
4,053
+5.1%
Fixed assets
662
628
540
+5.5%
Goodwill
1,834
1,755
1,468
+4.5%
Intangible assets
1,107
997
656
+11.1%
Cash and equivalents
252
238
192
+5.5%
Receivables
551
503
459
+9.6%
Inventory
531
556
462
-4.4%
Other assets
192
202
276
-5.0%
Total assets
5,128
4,879
4,053
+5.1%
10-K for the year ended 31 December 2016, filed 25 February 2019: the filing.