Generac Holdings (GNRC) FY2015 results: revenue $1.3 billion, down 9.8% on the year
Generac Holdings Inc. (GNRC) reported revenue of $1.3 billion for fiscal 2015, the year ended 31 December 2015, down 9.8% on the year before. Net income was $78 million, down 55.5%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$1.3 billion
-9.8% on the year
FY2009FY2015
Operating margin
13.6%
20.1% a year earlier
FY2009FY2015
Net income
$78 million
-55.5% on the year
FY2009FY2015
Diluted EPS
$1.12
-55.0% on the year
FY2009FY2015
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
1,317
1,461
1,486
-9.8%
Cost of revenue
857
945
916
-9.2%
Gross profit
460
516
570
-10.9%
Gross margin
34.9%
35.3%
38.3%
Research and development
32.9
31.5
29.3
+4.5%
Operating income
180
293
351
-38.8%
Operating margin
13.6%
20.1%
23.7%
Interest expense
42.8
47.2
54.4
-9.3%
Pre-tax income
123
258
279
-52.4%
Income tax
45.2
83.7
104
-46.0%
Effective tax rate
36.8%
32.4%
37.4%
Net income
77.7
175
175
-55.5%
Net margin
5.9%
12.0%
11.7%
Diluted EPS
$1.12
$2.49
$2.51
-55.0%
$ 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
189
253
260
-25.4%
Capital expenditure
30.7
34.7
30.8
-11.6%
Free cash flow
158
218
229
-27.6%
Free cash flow margin
12.0%
14.9%
15.4%
Cash from investing
-104
-95.5
-145
Cash from financing
-154
-116
-73.4
Depreciation and amortisation
40.3
34.7
36.8
+16.1%
Share-based compensation
8.2
12.6
12.4
-34.7%
Buybacks
99.9
n/a
n/a
Dividends paid
1.4
0.9
343
+59.2%
Dividend per share
n/a
$0.00
$5.00
Diluted shares, weighted
69m
70m
70m
-1.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
466
490
317
-4.9%
Short-term borrowings
n/a
n/a
9.6
Debt
1,046
1,088
1,197
-3.8%
Other liabilities
266
287
275
-7.1%
Total liabilities and equity
1,779
1,864
1,798
-4.6%
Fixed assets
184
169
146
+9.1%
Goodwill
670
636
608
+5.4%
Intangible assets
257
285
110
-9.8%
Cash and equivalents
116
190
150
-38.9%
Receivables
182
189
165
-3.7%
Inventory
325
319
300
+1.9%
Other assets
44.4
76.9
319
-42.3%
Total assets
1,779
1,864
1,798
-4.6%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.