Goodyear Tire & Rubber (GT) FY2017 results: revenue $15.4 billion, up 1.4% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $15.4 billion for fiscal 2017, the year ended 31 December 2017, up 1.4% on the year before. Net income was $346 million, down 72.6%, and diluted earnings per share $1.37. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$15.4 billion
+1.4% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$346 million
-72.6% on the year
FY2010FY2017
Diluted EPS
$1.37
-71.1% 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
15,377
15,158
16,443
+1.4%
Cost of revenue
11,680
10,935
12,164
+6.8%
Gross profit
3,697
4,223
4,279
-12.5%
Gross margin
24.0%
27.9%
26.0%
Research and development
406
388
382
+4.6%
Selling, general and administrative
2,279
2,407
2,614
-5.3%
Operating income
n/a
n/a
2,022
Operating margin
n/a
n/a
12.3%
Interest expense
335
372
438
-9.9%
Pre-tax income
878
1,207
608
-27.3%
Income tax
513
-77.0
232
Effective tax rate
58.4%
-6.4%
38.2%
Net income
346
1,264
307
-72.6%
Net margin
2.3%
8.3%
1.9%
Diluted EPS
$1.37
$4.74
$1.12
-71.1%
$ 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
1,158
1,557
1,728
-25.6%
Capital expenditure
881
996
983
-11.5%
Free cash flow
277
561
745
-50.6%
Free cash flow margin
1.8%
3.7%
4.5%
Cash from investing
-879
-979
-1,256
Cash from financing
-415
-876
-1,026
Depreciation and amortisation
781
727
698
+7.4%
Share-based compensation
22.0
23.0
19.0
-4.3%
Buybacks
400
500
180
-20.0%
Dividends paid
110
82.0
68.0
+34.1%
Dividend per share
$0.44
$0.31
$0.25
+41.9%
Diluted shares, weighted
253m
266m
273m
-4.9%
Shares outstanding at period end
240m
252m
267m
-4.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,603
4,507
3,920
+2.1%
Non-controlling interest
247
218
222
+13.3%
Redeemable equity
n/a
n/a
0.0
Short-term borrowings
262
245
49.0
+6.9%
Debt
5,427
5,193
5,611
+4.5%
Other liabilities
6,525
6,348
6,589
+2.8%
Total liabilities and equity
17,064
16,511
16,391
+3.3%
Fixed assets
7,451
7,040
6,777
+5.8%
Goodwill
595
535
555
+11.2%
Intangible assets
139
136
138
+2.2%
Cash and equivalents
1,043
1,132
1,476
-7.9%
Receivables
2,025
1,769
2,033
+14.5%
Inventory
2,787
2,627
2,464
+6.1%
Other assets
3,024
3,272
2,948
-7.6%
Total assets
17,064
16,511
16,391
+3.3%
10-K for the year ended 31 December 2017, filed 8 February 2019: the filing.