Flowers Foods (FLO) FY2015 results: revenue $3.8 billion, up 0.8% on the year
Flowers Foods Inc. (FLO) reported revenue of $3.8 billion for fiscal 2015, the year ended 2 January 2016, up 0.8% on the year before. Net income was $189 million, up 7.7%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$3.8 billion
+0.8% on the year
FY2008FY2015
Operating margin
7.9%
7.3% a year earlier
FY2008FY2015
Net income
$189 million
+7.7% on the year
FY2008FY2015
Diluted EPS
$0.89
+8.5% on the year
FY2008FY2015
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
3,779
3,749
3,733
+0.8%
Research and development
3.3
3.2
2.6
+3.1%
Selling, general and administrative
1,382
1,368
1,357
+1.0%
Operating income
298
275
335
+8.2%
Operating margin
7.9%
7.3%
9.0%
Interest expense
26.8
28.3
28.9
-5.2%
Pre-tax income
293
268
322
+9.3%
Income tax
104
92.3
91.5
+12.5%
Effective tax rate
35.4%
34.4%
28.4%
Net income
189
176
231
+7.7%
Net margin
5.0%
4.7%
6.2%
Diluted EPS
$0.89
$0.82
$1.09
+8.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
336
315
270
+6.5%
Capital expenditure
90.8
83.8
99.2
+8.3%
Free cash flow
245
231
171
+5.8%
Free cash flow margin
6.5%
6.2%
4.6%
Cash from investing
-470
n/a
n/a
Cash from financing
141
n/a
n/a
Depreciation and amortisation
132
129
118
+2.5%
Share-based compensation
15.7
18.7
15.9
-15.9%
Buybacks
6.9
38.9
8.8
-82.4%
Dividends paid
120
102
92.8
+17.7%
Dividend per share
$0.57
$0.48
$0.44
+17.0%
Diluted shares, weighted
213m
213m
212m
+0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,243
1,123
1,076
+10.7%
Debt
1,005
767
927
+31.0%
Other liabilities
596
519
500
+15.0%
Total liabilities and equity
2,844
2,409
2,504
+18.1%
Fixed assets
805
807
867
-0.3%
Goodwill
465
283
282
+64.3%
Intangible assets
875
645
657
+35.7%
Cash and equivalents
14.4
7.5
8.5
+91.1%
Inventory
111
93.1
101
+19.4%
Other assets
573
573
589
+0.0%
Total assets
2,844
2,409
2,504
+18.1%
10-K for the year ended 2 January 2016, filed 24 February 2016: the filing.