Graphic Packaging Holding (GPK) FY2016 results: revenue $4.3 billion, up 3.3% on the year
Graphic Packaging Holding Co. (GPK) reported revenue of $4.3 billion for fiscal 2016, the year ended 31 December 2016, up 3.3% on the year before. Net income was $228 million, down 0.9%, and diluted earnings per share $0.71. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$4.3 billion
+3.3% on the year
FY2009FY2016
Operating margin
9.5%
10.3% a year earlier
FY2009FY2016
Net income
$228 million
-0.9% on the year
FY2009FY2016
Diluted EPS
$0.71
+1.4% on the year
FY2009FY2016
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
4,298
4,160
4,240
+3.3%
Cost of revenue
3,497
3,371
3,453
+3.7%
Gross profit
792
789
787
+0.4%
Gross margin
18.4%
19.0%
18.6%
Research and development
14.9
13.8
14.9
+8.0%
Selling, general and administrative
353
348
366
+1.6%
Operating income
407
427
228
-4.6%
Operating margin
9.5%
10.3%
5.4%
Interest expense
76.6
67.8
80.7
+13.0%
Pre-tax income
319
359
133
-11.1%
Income tax
93.2
130
45.4
-28.5%
Effective tax rate
29.2%
36.3%
34.2%
Net income
228
230
89.7
-0.9%
Net margin
5.3%
5.5%
2.1%
Diluted EPS
$0.71
$0.70
$0.27
+1.4%
$ 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
74.0
589
527
-87.4%
Capital expenditure
279
229
187
+21.7%
Free cash flow
-205
360
340
Free cash flow margin
-4.8%
8.7%
8.0%
Cash from investing
-65.1
-400
-183
Cash from financing
-3.1
-211
-309
Depreciation and amortisation
299
280
270
+6.7%
Share-based compensation
20.2
20.4
18.7
-1.0%
Buybacks
165
63.0
0.0
+161.7%
Dividends paid
64.4
49.3
0.0
+30.6%
Diluted shares, weighted
322m
331m
330m
-2.8%
Shares outstanding at period end
314m
325m
327m
-3.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,056
1,102
1,012
-4.1%
Redeemable equity
n/a
n/a
0.0
Short-term borrowings
n/a
10.8
5.6
Debt
2,152
1,877
1,966
+14.7%
Other liabilities
1,395
1,267
1,154
+10.1%
Total liabilities and equity
4,603
4,256
4,138
+8.2%
Fixed assets
1,752
1,586
1,547
+10.4%
Goodwill
1,260
1,168
1,118
+7.9%
Intangible assets
445
387
386
+15.2%
Cash and equivalents
59.1
54.9
81.6
+7.7%
Receivables
363
337
346
+7.9%
Inventory
583
557
522
+4.6%
Other assets
141
166
137
-15.5%
Total assets
4,603
4,256
4,138
+8.2%
10-K for the year ended 31 December 2016, filed 13 February 2019: the filing.