Globus Medical (GMED) FY2017 results: revenue $636 million, up 12.8% on the year
Globus Medical Inc. (GMED) reported revenue of $636 million for fiscal 2017, the year ended 31 December 2017, up 12.8% on the year before. Net income was $107 million, up 2.9%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$636 million
+12.8% on the year
FY2010FY2017
Operating margin
25.4%
27.3% a year earlier
FY2010FY2017
Net income
$107 million
+2.9% on the year
FY2010FY2017
Diluted EPS
$1.10
+1.9% 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
636
564
545
+12.8%
Cost of revenue
150
135
132
+11.7%
Gross profit
486
429
412
+13.1%
Gross margin
76.3%
76.1%
75.6%
Research and development
43.7
44.5
36.3
-1.9%
Selling, general and administrative
268
222
210
+20.6%
Operating income
162
154
172
+5.0%
Operating margin
25.4%
27.3%
31.6%
Pre-tax income
170
157
173
+8.0%
Income tax
62.6
52.9
60.0
+18.2%
Effective tax rate
36.8%
33.7%
34.7%
Net income
107
104
113
+2.9%
Net margin
16.9%
18.5%
20.7%
Diluted EPS
$1.10
$1.08
$1.17
+1.9%
$ 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
159
148
124
+7.6%
Capital expenditure
51.3
40.9
50.8
+25.4%
Free cash flow
108
107
73.2
+0.8%
Free cash flow margin
16.9%
19.0%
13.4%
Cash from investing
-111
-163
-153
Cash from financing
1.6
0.5
4.3
+246.0%
Depreciation and amortisation
42.1
38.8
24.1
+8.5%
Share-based compensation
14.7
11.4
9.6
+29.0%
Diluted shares, weighted
98m
96m
96m
+1.5%
Shares outstanding at period end
97m
96m
95m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
968
832
715
+16.3%
Debt
0.0
0.0
0.0
Other liabilities
111
95.6
119
+15.9%
Total liabilities and equity
1,079
928
834
+16.3%
Fixed assets
143
124
115
+15.2%
Goodwill
124
106
92.0
+17.0%
Intangible assets
78.7
61.7
33.2
+27.5%
Investments
311
284
270
+9.6%
Cash and equivalents
119
67.0
57.7
+77.5%
Receivables
117
92.0
77.7
+26.8%
Inventory
108
113
105
-3.8%
Other assets
77.9
80.3
83.9
-3.1%
Total assets
1,079
928
834
+16.3%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.