Globus Medical (GMED) FY2016 results: revenue $564 million, up 3.5% on the year
Globus Medical Inc. (GMED) reported revenue of $564 million for fiscal 2016, the year ended 31 December 2016, up 3.5% on the year before. Net income was $104 million, down 7.5%, and diluted earnings per share $1.08. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$564 million
+3.5% on the year
FY2010FY2016
Operating margin
27.3%
31.6% a year earlier
FY2010FY2016
Net income
$104 million
-7.5% on the year
FY2010FY2016
Diluted EPS
$1.08
-7.7% on the year
FY2010FY2016
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
564
545
474
+3.5%
Cost of revenue
135
132
111
+1.8%
Gross profit
429
412
364
+4.2%
Gross margin
76.1%
75.6%
76.6%
Research and development
44.5
36.3
31.2
+22.6%
Selling, general and administrative
222
210
189
+5.7%
Operating income
154
172
138
-10.5%
Operating margin
27.3%
31.6%
29.2%
Pre-tax income
157
173
139
-9.0%
Income tax
52.9
60.0
46.2
-11.8%
Effective tax rate
33.7%
34.7%
33.3%
Net income
104
113
92.5
-7.5%
Net margin
18.5%
20.7%
19.5%
Diluted EPS
$1.08
$1.17
$0.97
-7.7%
$ 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
148
124
79.2
+19.2%
Capital expenditure
40.9
50.8
24.8
-19.4%
Free cash flow
107
73.2
54.4
+46.0%
Free cash flow margin
19.0%
13.4%
11.5%
Cash from investing
-163
-153
-100
Cash from financing
0.5
4.3
12.9
-89.0%
Depreciation and amortisation
38.8
24.1
21.8
+61.0%
Share-based compensation
11.4
9.6
7.1
+18.1%
Diluted shares, weighted
96m
96m
95m
+0.4%
Shares outstanding at period end
96m
95m
95m
+0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
832
715
585
+16.3%
Debt
0.0
0.0
0.0
Other liabilities
95.6
119
118
-19.5%
Total liabilities and equity
928
834
704
+11.2%
Fixed assets
124
115
69.5
+8.3%
Goodwill
106
92.0
53.2
+15.2%
Intangible assets
61.7
33.2
34.5
+85.6%
Investments
284
270
222
+5.3%
Cash and equivalents
67.0
57.7
82.3
+16.1%
Receivables
92.0
77.7
75.4
+18.4%
Inventory
113
105
90.9
+7.1%
Other assets
80.3
83.9
75.9
-4.3%
Total assets
928
834
704
+11.2%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.