Fortune Brands Innovations (FBIN) FY2017 results: revenue $5.3 billion, up 6.0% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $5.3 billion for fiscal 2017, the year ended 31 December 2017, up 6.0% on the year before. Net income was $473 million, up 14.4%, and diluted earnings per share $3.03. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$5.3 billion
+6.0% on the year
FY2010FY2017
Operating margin
12.9%
12.4% a year earlier
FY2010FY2017
Net income
$473 million
+14.4% on the year
FY2010FY2017
Diluted EPS
$3.03
+15.6% 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
5,283
4,985
4,579
+6.0%
Cost of revenue
3,358
3,189
2,998
+5.3%
Gross profit
1,925
1,805
1,582
+6.7%
Gross margin
36.4%
36.2%
34.5%
Research and development
50.7
53.1
48.7
-4.5%
Selling, general and administrative
1,195
1,136
1,048
+5.2%
Operating income
682
619
496
+10.3%
Operating margin
12.9%
12.4%
10.8%
Interest expense
49.4
49.1
31.9
+0.6%
Pre-tax income
635
582
460
+9.1%
Income tax
160
170
153
-6.0%
Effective tax rate
25.1%
29.2%
33.4%
Net income
473
413
315
+14.4%
Net margin
8.9%
8.3%
6.9%
Diluted EPS
$3.03
$2.62
$1.93
+15.6%
$ 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
600
650
429
-7.7%
Capital expenditure
165
149
128
+10.5%
Free cash flow
435
501
301
-13.1%
Free cash flow margin
8.2%
10.1%
6.6%
Cash from investing
-288
-385
-767
Cash from financing
-250
-250
399
Depreciation and amortisation
130
123
115
+6.2%
Share-based compensation
43.0
32.0
27.6
+34.4%
Buybacks
215
424
51.7
-49.4%
Dividends paid
110
98.2
89.5
+12.3%
Dividend per share
$0.74
$0.66
$0.58
+12.1%
Diluted shares, weighted
156m
158m
163m
-1.3%
Shares outstanding at period end
152m
153m
160m
-1.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,600
2,362
2,451
+10.1%
Non-controlling interest
1.6
1.5
2.9
+6.7%
Debt
1,508
1,431
1,169
+5.3%
Other liabilities
1,403
1,334
1,256
+5.1%
Total liabilities and equity
5,511
5,128
4,879
+7.5%
Fixed assets
740
662
628
+11.7%
Goodwill
1,912
1,834
1,755
+4.3%
Intangible assets
1,162
1,107
997
+5.0%
Cash and equivalents
323
252
238
+28.4%
Receivables
555
551
503
+0.8%
Inventory
581
531
556
+9.4%
Other assets
238
192
202
+24.0%
Total assets
5,511
5,128
4,879
+7.5%
10-K for the year ended 31 December 2017, filed 25 February 2019: the filing.