Comfort Systems USA (FIX) FY2017 results: revenue $1.8 billion, up 9.4% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $1.8 billion for fiscal 2017, the year ended 31 December 2017, up 9.4% on the year before. Net income was $55 million, down 14.8%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$1.8 billion
+9.4% on the year
FY2010FY2017
Operating margin
5.6%
6.2% a year earlier
FY2010FY2017
Net income
$55 million
-14.8% on the year
FY2010FY2017
Diluted EPS
$1.47
-14.5% 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
1,788
1,634
1,581
+9.4%
Cost of revenue
1,422
1,290
1,262
+10.2%
Gross profit
366
344
318
+6.5%
Gross margin
20.5%
21.0%
20.1%
Selling, general and administrative
267
243
229
+9.6%
Operating income
99.3
102
90.0
-2.3%
Operating margin
5.6%
6.2%
5.7%
Interest expense
3.2
2.3
1.8
+34.6%
Pre-tax income
101
101
88.7
-0.1%
Income tax
45.7
36.2
31.2
+26.3%
Effective tax rate
45.2%
35.8%
35.2%
Net income
55.3
64.9
49.4
-14.8%
Net margin
3.1%
4.0%
3.1%
Diluted EPS
$1.47
$1.72
$1.30
-14.5%
$ 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
114
91.2
97.9
+25.1%
Capital expenditure
35.5
23.2
20.8
+52.8%
Free cash flow
78.6
68.0
77.1
+15.7%
Free cash flow margin
4.4%
4.2%
4.9%
Cash from investing
-129
-79.3
-25.6
Cash from financing
19.3
-36.3
-47.8
Depreciation and amortisation
37.5
26.2
23.4
+43.1%
Share-based compensation
6.4
5.0
5.6
+26.5%
Buybacks
9.0
13.1
8.3
-31.2%
Dividends paid
11.0
10.3
9.4
+7.0%
Dividend per share
$0.29
$0.28
$0.25
+7.3%
Diluted shares, weighted
38m
38m
38m
-0.4%
Shares outstanding at period end
37m
37m
37m
-0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
418
377
347
+11.0%
Non-controlling interest
n/a
n/a
18.3
Short-term borrowings
n/a
n/a
0.5
Debt
60.5
2.6
11.0
+2,269.4%
Other liabilities
403
330
315
+22.1%
Total liabilities and equity
881
709
692
+24.3%
Fixed assets
87.6
68.2
60.8
+28.4%
Goodwill
201
149
144
+34.4%
Intangible assets
76.0
42.4
41.1
+79.2%
Cash and equivalents
36.5
32.1
56.5
+13.9%
Receivables
383
319
302
+20.1%
Inventory
10.3
9.2
7.9
+11.9%
Other assets
87.2
88.9
79.4
-2.0%
Total assets
881
709
692
+24.3%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.