Globus Medical (GMED) FY2015 results: revenue $545 million, up 14.8% on the year
Globus Medical Inc. (GMED) reported revenue of $545 million for fiscal 2015, the year ended 31 December 2015, up 14.8% on the year before. Net income was $113 million, up 21.9%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$545 million
+14.8% on the year
FY2010FY2015
Operating margin
31.6%
29.2% a year earlier
FY2010FY2015
Net income
$113 million
+21.9% on the year
FY2010FY2015
Diluted EPS
$1.17
+20.6% on the year
FY2010FY2015
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
545
474
434
+14.8%
Cost of revenue
132
111
100
+19.4%
Gross profit
412
364
334
+13.3%
Gross margin
75.6%
76.6%
76.9%
Research and development
36.3
31.2
26.9
+16.5%
Selling, general and administrative
210
189
183
+11.5%
Operating income
172
138
102
+24.5%
Operating margin
31.6%
29.2%
23.4%
Pre-tax income
173
139
102
+24.6%
Income tax
60.0
46.2
33.4
+30.0%
Effective tax rate
34.7%
33.3%
32.7%
Net income
113
92.5
68.6
+21.9%
Net margin
20.7%
19.5%
15.8%
Diluted EPS
$1.17
$0.97
$0.73
+20.6%
$ 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
124
79.2
93.5
+56.6%
Capital expenditure
50.8
24.8
23.7
+105.1%
Free cash flow
73.2
54.4
69.8
+34.6%
Free cash flow margin
13.4%
11.5%
16.1%
Cash from investing
-153
-100
-227
Cash from financing
4.3
12.9
11.0
-67.0%
Depreciation and amortisation
24.1
21.8
19.4
+10.7%
Share-based compensation
9.6
7.1
5.2
+35.6%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
96m
95m
94m
+0.6%
Shares outstanding at period end
95m
95m
93m
+0.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
715
585
472
+22.2%
Debt
0.0
0.0
0.0
Other liabilities
119
118
93.9
+0.6%
Total liabilities and equity
834
704
566
+18.6%
Fixed assets
115
69.5
64.2
+65.2%
Goodwill
92.0
53.2
18.4
+72.9%
Intangible assets
33.2
34.5
29.5
-3.7%
Investments
270
222
185
+21.6%
Cash and equivalents
57.7
82.3
90.0
-29.9%
Receivables
77.7
75.4
62.4
+3.0%
Inventory
105
90.9
70.3
+15.7%
Other assets
83.9
75.9
46.0
+10.5%
Total assets
834
704
566
+18.6%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.