Comfort Systems USA (FIX) FY2015 results: revenue $1.6 billion, up 12.0% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $1.6 billion for fiscal 2015, the year ended 31 December 2015, up 12.0% on the year before. Net income was $49 million, up 114.0%, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$1.6 billion
+12.0% on the year
FY2009FY2015
Operating margin
5.7%
3.0% a year earlier
FY2009FY2015
Net income
$49 million
+114.0% on the year
FY2009FY2015
Diluted EPS
$1.30
+113.1% on the year
FY2009FY2015
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
1,581
1,411
1,357
+12.0%
Cost of revenue
1,262
1,161
1,117
+8.7%
Gross profit
318
250
240
+27.4%
Gross margin
20.1%
17.7%
17.7%
Selling, general and administrative
229
208
194
+10.3%
Operating income
90.0
42.2
46.3
+113.3%
Operating margin
5.7%
3.0%
3.4%
Interest expense
1.8
1.9
1.4
-5.7%
Pre-tax income
88.7
40.2
46.8
+120.4%
Income tax
31.2
11.6
18.1
+168.8%
Effective tax rate
35.2%
28.9%
38.8%
Net income
49.4
23.1
27.3
+114.0%
Net margin
3.1%
1.6%
2.0%
Diluted EPS
$1.30
$0.61
$0.73
+113.1%
$ 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
97.9
42.6
38.4
+130.0%
Capital expenditure
20.8
19.2
17.4
+8.5%
Free cash flow
77.1
23.4
21.0
+229.7%
Free cash flow margin
4.9%
1.7%
1.5%
Cash from investing
-25.6
-74.1
-16.3
Cash from financing
-47.8
11.6
-10.9
Depreciation and amortisation
23.4
21.3
18.6
+9.7%
Share-based compensation
5.6
4.8
4.0
+16.7%
Buybacks
8.3
8.0
1.8
+4.5%
Dividends paid
9.4
8.4
7.9
+10.8%
Dividend per share
$0.25
$0.23
$0.21
+11.1%
Diluted shares, weighted
38m
38m
38m
+0.2%
Shares outstanding at period end
37m
37m
38m
+0.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
347
306
296
+13.2%
Non-controlling interest
18.3
15.1
18.2
+21.0%
Short-term borrowings
0.5
n/a
n/a
Debt
11.0
40.3
2.0
-72.7%
Other liabilities
315
294
286
+7.1%
Total liabilities and equity
692
656
602
+5.4%
Fixed assets
60.8
55.8
46.9
+9.1%
Goodwill
144
140
115
+2.5%
Intangible assets
41.1
45.7
37.4
-10.0%
Cash and equivalents
56.5
32.1
52.1
+76.1%
Receivables
302
304
267
-0.5%
Inventory
7.9
8.6
8.4
-8.2%
Other assets
79.4
69.9
75.0
+13.6%
Total assets
692
656
602
+5.4%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.