Comfort Systems USA (FIX) FY2016 results: revenue $1.6 billion, up 3.4% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $1.6 billion for fiscal 2016, the year ended 31 December 2016, up 3.4% on the year before. Net income was $65 million, up 31.5%, and diluted earnings per share $1.72. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$1.6 billion
+3.4% on the year
FY2009FY2016
Operating margin
6.2%
5.7% a year earlier
FY2009FY2016
Net income
$65 million
+31.5% on the year
FY2009FY2016
Diluted EPS
$1.72
+32.3% 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
1,634
1,581
1,411
+3.4%
Cost of revenue
1,290
1,262
1,161
+2.2%
Gross profit
344
318
250
+8.1%
Gross margin
21.0%
20.1%
17.7%
Selling, general and administrative
243
229
208
+6.2%
Operating income
102
90.0
42.2
+12.8%
Operating margin
6.2%
5.7%
3.0%
Interest expense
2.3
1.8
1.9
+33.8%
Pre-tax income
101
88.7
40.2
+14.0%
Income tax
36.2
31.2
11.6
+15.8%
Effective tax rate
35.8%
35.2%
28.9%
Net income
64.9
49.4
23.1
+31.5%
Net margin
4.0%
3.1%
1.6%
Diluted EPS
$1.72
$1.30
$0.61
+32.3%
$ 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
91.2
97.9
42.6
-6.8%
Capital expenditure
23.2
20.8
19.2
+11.6%
Free cash flow
68.0
77.1
23.4
-11.8%
Free cash flow margin
4.2%
4.9%
1.7%
Cash from investing
-79.3
-25.6
-74.1
Cash from financing
-36.3
-47.8
11.6
Depreciation and amortisation
26.2
23.4
21.3
+11.7%
Share-based compensation
5.0
5.6
4.8
-10.1%
Buybacks
13.1
8.3
8.0
+57.1%
Dividends paid
10.3
9.4
8.4
+9.7%
Dividend per share
$0.28
$0.25
$0.23
+10.0%
Diluted shares, weighted
38m
38m
38m
-0.2%
Shares outstanding at period end
37m
37m
37m
-0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
377
347
306
+8.6%
Non-controlling interest
n/a
18.3
15.1
Short-term borrowings
n/a
0.5
n/a
Debt
2.6
11.0
40.3
-76.8%
Other liabilities
330
315
294
+4.6%
Total liabilities and equity
709
692
656
+2.5%
Fixed assets
68.2
60.8
55.8
+12.1%
Goodwill
149
144
140
+3.7%
Intangible assets
42.4
41.1
45.7
+3.3%
Cash and equivalents
32.1
56.5
32.1
-43.2%
Receivables
319
302
304
+5.6%
Inventory
9.2
7.9
8.6
+16.0%
Other assets
88.9
79.4
69.9
+12.1%
Total assets
709
692
656
+2.5%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.