Generac Holdings (GNRC) FY2017 results: revenue $1.7 billion, up 16.0% on the year
Generac Holdings Inc. (GNRC) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 16.0% on the year before. Net income was $158 million, up 62.4%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.7 billion
+16.0% on the year
FY2010FY2017
Operating margin
14.9%
14.0% a year earlier
FY2010FY2017
Net income
$158 million
+62.4% on the year
FY2010FY2017
Diluted EPS
$2.53
+72.1% 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
1,679
1,448
1,317
+16.0%
Cost of revenue
1,095
935
857
+17.0%
Gross profit
585
512
460
+14.1%
Gross margin
34.8%
35.4%
34.9%
Research and development
42.9
37.2
32.9
+15.3%
Operating income
251
203
180
+23.8%
Operating margin
14.9%
14.0%
13.6%
Interest expense
42.7
44.6
42.8
-4.3%
Pre-tax income
204
154
123
+32.5%
Income tax
44.1
56.5
45.2
-21.9%
Effective tax rate
21.7%
36.8%
36.8%
Net income
158
97.2
77.7
+62.4%
Net margin
9.4%
6.7%
5.9%
Diluted EPS
$2.53
$1.47
$1.12
+72.1%
$ 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
257
241
189
+6.7%
Capital expenditure
33.3
30.5
30.7
+9.2%
Free cash flow
224
211
158
+6.4%
Free cash flow margin
13.3%
14.6%
12.0%
Cash from investing
-28.1
-93.5
-104
Cash from financing
-160
-196
-154
Depreciation and amortisation
52.0
54.4
40.3
-4.5%
Share-based compensation
10.2
9.5
8.2
+7.5%
Buybacks
30.0
150
99.9
-80.0%
Dividends paid
0.0
0.1
1.4
Diluted shares, weighted
63m
65m
69m
-4.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
554
401
466
+38.1%
Non-controlling interest
0.3
-0.0
n/a
Redeemable equity
43.9
33.1
n/a
+32.6%
Short-term borrowings
20.6
n/a
n/a
Debt
936
1,053
1,046
-11.1%
Other liabilities
471
379
266
+24.4%
Total liabilities and equity
2,026
1,866
1,779
+8.6%
Fixed assets
230
213
184
+8.3%
Goodwill
722
705
670
+2.4%
Intangible assets
236
255
257
-7.6%
Cash and equivalents
138
67.3
116
+105.8%
Receivables
279
242
182
+15.5%
Inventory
387
350
325
+10.7%
Other assets
33.5
34.5
44.4
-3.0%
Total assets
2,026
1,866
1,779
+8.6%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.