Greif (GEF) FY2017 results: revenue $3.6 billion, up 9.5% on the year
Greif, Inc. (GEF) reported revenue of $3.6 billion for fiscal 2017, the year ended 31 October 2017, up 9.5% on the year before. Net income was $119 million, up 58.3%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2017.
Revenue
$3.6 billion
+9.5% on the year
FY2010FY2017
Operating margin
8.2%
6.8% a year earlier
FY2010FY2017
Net income
$119 million
+58.3% on the year
FY2010FY2017
Diluted EPS
$2.02
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
3,638
3,324
3,617
+9.5%
Cost of revenue
2,924
2,639
2,947
+10.8%
Gross profit
715
685
670
+4.4%
Gross margin
19.6%
20.6%
18.5%
Selling, general and administrative
380
377
413
+1.0%
Operating income
300
226
193
+32.8%
Operating margin
8.2%
6.8%
5.3%
Interest expense
60.1
75.4
74.8
-20.3%
Pre-tax income
200
141
115
+41.9%
Income tax
67.2
66.5
48.4
+1.1%
Effective tax rate
33.5%
47.1%
42.2%
Net income
119
74.9
71.9
+58.3%
Net margin
3.3%
2.3%
2.0%
Diluted EPS
$2.02
n/a
n/a
$ 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
305
301
206
+1.3%
Capital expenditure
96.8
100
136
-3.3%
Free cash flow
208
201
70.5
+3.6%
Free cash flow margin
5.7%
6.0%
1.9%
Cash from investing
-90.4
-25.1
-146
Cash from financing
-176
-273
-20.1
Depreciation and amortisation
120
128
135
-5.6%
Share-based compensation
2.9
2.8
2.8
+3.6%
Buybacks
0.0
5.2
0.0
Dividends paid
98.6
98.7
98.7
-0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,011
947
1,016
+6.7%
Non-controlling interest
36.6
10.5
44.3
+248.6%
Redeemable equity
31.5
31.8
0.0
-0.9%
Debt
967
1,026
1,188
-5.7%
Other liabilities
1,186
1,137
1,068
+4.3%
Total liabilities and equity
3,232
3,153
3,316
+2.5%
Fixed assets
1,188
1,172
1,218
+1.4%
Goodwill
785
786
807
-0.1%
Intangible assets
98.0
111
133
-11.4%
Cash and equivalents
142
104
106
+37.2%
Receivables
447
399
404
+12.0%
Inventory
n/a
277
297
Other assets
571
304
351
+88.0%
Total assets
3,232
3,153
3,316
+2.5%
10-K for the year ended 31 October 2017, filed 20 December 2017: the filing.