Goodyear Tire & Rubber (GT) FY2015 results: revenue $16.4 billion, down 9.3% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $16.4 billion for fiscal 2015, the year ended 31 December 2015, down 9.3% on the year before. Net income was $307 million, down 87.5%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2016.
Revenue
$16.4 billion
-9.3% on the year
FY2008FY2015
Operating margin
12.3%
9.4% a year earlier
FY2008FY2015
Net income
$307 million
-87.5% on the year
FY2008FY2015
Diluted EPS
$1.12
-87.2% on the year
FY2008FY2015
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
16,443
18,138
19,540
-9.3%
Cost of revenue
12,164
13,906
15,422
-12.5%
Gross profit
4,279
4,232
4,118
+1.1%
Gross margin
26.0%
23.3%
21.1%
Research and development
382
399
390
-4.3%
Selling, general and administrative
2,614
2,720
2,758
-3.9%
Operating income
2,022
1,712
1,580
+18.1%
Operating margin
12.3%
9.4%
8.1%
Interest expense
438
444
392
-1.4%
Pre-tax income
608
687
813
-11.5%
Income tax
232
-1,834
138
Effective tax rate
38.2%
-267.0%
17.0%
Net income
307
2,452
629
-87.5%
Net margin
1.9%
13.5%
3.2%
Diluted EPS
$1.12
$8.78
$2.28
-87.2%
$ 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
1,728
340
938
+408.2%
Capital expenditure
983
923
1,168
+6.5%
Free cash flow
745
-583
-230
Free cash flow margin
4.5%
-3.2%
-1.2%
Cash from investing
-1,256
-851
-1,136
Cash from financing
-1,026
-11.0
1,082
Depreciation and amortisation
698
732
722
-4.6%
Share-based compensation
19.0
20.0
18.0
-5.0%
Buybacks
180
234
4.0
-23.1%
Dividends paid
68.0
60.0
12.0
+13.3%
Dividend per share
$0.25
$0.22
$0.05
+13.6%
Diluted shares, weighted
273m
279m
277m
-2.2%
Shares outstanding at period end
267m
269m
248m
-0.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,920
3,610
1,606
+8.6%
Non-controlling interest
222
235
262
-5.5%
Redeemable equity
0.0
582
577
Short-term borrowings
49.0
30.0
14.0
+63.3%
Debt
5,611
6,305
6,173
-11.0%
Other liabilities
6,589
7,238
8,805
-9.0%
Total liabilities and equity
16,391
18,000
17,437
-8.9%
Fixed assets
6,777
7,153
7,320
-5.3%
Goodwill
555
601
668
-7.7%
Intangible assets
138
138
138
0.0%
Cash and equivalents
1,476
2,161
2,996
-31.7%
Receivables
2,033
2,126
2,435
-4.4%
Inventory
2,464
2,671
2,816
-7.7%
Other assets
2,948
3,150
1,064
-6.4%
Total assets
16,391
18,000
17,437
-8.9%
10-K for the year ended 31 December 2015, filed 9 February 2016: the filing.