Goodyear Tire & Rubber (GT) FY2016 results: revenue $15.2 billion, down 7.8% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $15.2 billion for fiscal 2016, the year ended 31 December 2016, down 7.8% on the year before. Net income was $1.3 billion, up 311.7%, and diluted earnings per share $4.74. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$15.2 billion
-7.8% on the year
FY2009FY2016
Operating margin
n/a
12.3% a year earlier
FY2009FY2016
Net income
$1.3 billion
+311.7% on the year
FY2009FY2016
Diluted EPS
$4.74
+323.2% 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
15,158
16,443
18,138
-7.8%
Cost of revenue
10,935
12,164
13,906
-10.1%
Gross profit
4,223
4,279
4,232
-1.3%
Gross margin
27.9%
26.0%
23.3%
Research and development
388
382
399
+1.6%
Selling, general and administrative
2,407
2,614
2,720
-7.9%
Operating income
n/a
2,022
1,712
Operating margin
n/a
12.3%
9.4%
Interest expense
372
438
444
-15.1%
Pre-tax income
1,207
608
687
+98.5%
Income tax
-77.0
232
-1,834
Effective tax rate
-6.4%
38.2%
-267.0%
Net income
1,264
307
2,452
+311.7%
Net margin
8.3%
1.9%
13.5%
Diluted EPS
$4.74
$1.12
$8.78
+323.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,557
1,728
340
-9.9%
Capital expenditure
996
983
923
+1.3%
Free cash flow
561
745
-583
-24.7%
Free cash flow margin
3.7%
4.5%
-3.2%
Cash from investing
-979
-1,256
-851
Cash from financing
-876
-1,026
-11.0
Depreciation and amortisation
727
698
732
+4.2%
Share-based compensation
23.0
19.0
20.0
+21.1%
Buybacks
500
180
234
+177.8%
Dividends paid
82.0
68.0
60.0
+20.6%
Dividend per share
$0.31
$0.25
$0.22
+24.0%
Diluted shares, weighted
266m
273m
279m
-2.6%
Shares outstanding at period end
252m
267m
269m
-5.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,507
3,920
3,610
+15.0%
Non-controlling interest
218
222
235
-1.8%
Redeemable equity
n/a
0.0
582
Short-term borrowings
245
49.0
30.0
+400.0%
Debt
5,193
5,611
6,305
-7.4%
Other liabilities
6,348
6,589
7,238
-3.7%
Total liabilities and equity
16,511
16,391
18,000
+0.7%
Fixed assets
7,040
6,777
7,153
+3.9%
Goodwill
535
555
601
-3.6%
Intangible assets
136
138
138
-1.4%
Cash and equivalents
1,132
1,476
2,161
-23.3%
Receivables
1,769
2,033
2,126
-13.0%
Inventory
2,627
2,464
2,671
+6.6%
Other assets
3,272
2,948
3,150
+11.0%
Total assets
16,511
16,391
18,000
+0.7%
10-K for the year ended 31 December 2016, filed 8 February 2019: the filing.