Huntington Ingalls Industries (HII) FY2016 results: revenue $7.1 billion, up 0.7% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $7.1 billion for fiscal 2016, the year ended 31 December 2016, up 0.7% on the year before. Net income was $573 million, up 41.8%, and diluted earnings per share $12.14. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$7.1 billion
+0.7% on the year
FY2009FY2016
Operating margin
12.4%
11.0% a year earlier
FY2009FY2016
Net income
$573 million
+41.8% on the year
FY2009FY2016
Diluted EPS
$12.14
+45.2% 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
7,068
7,020
6,957
+0.7%
Cost of revenue
5,608
5,517
5,540
+1.6%
Gross profit
1,460
1,503
1,417
-2.9%
Gross margin
20.7%
21.4%
20.4%
Research and development
19.0
19.0
18.0
0.0%
Operating income
876
769
655
+13.9%
Operating margin
12.4%
11.0%
9.4%
Interest expense
74.0
137
149
-46.0%
Pre-tax income
784
632
507
+24.1%
Income tax
211
228
169
-7.5%
Effective tax rate
26.9%
36.1%
33.3%
Net income
573
404
338
+41.8%
Net margin
8.1%
5.8%
4.9%
Diluted EPS
$12.14
$8.36
$6.86
+45.2%
$ 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
822
861
755
-4.5%
Capital expenditure
285
188
165
+51.6%
Free cash flow
537
673
590
-20.2%
Free cash flow margin
7.6%
9.6%
8.5%
Cash from investing
-653
-141
-437
Cash from financing
-343
-816
-371
Depreciation and amortisation
186
180
194
+3.3%
Share-based compensation
36.0
43.0
34.0
-16.3%
Buybacks
194
232
138
-16.4%
Dividends paid
98.0
81.0
49.0
+21.0%
Dividend per share
$2.10
$1.70
$1.00
+23.5%
Diluted shares, weighted
47m
48m
49m
-2.3%
Shares outstanding at period end
46m
47m
48m
-1.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,653
1,490
1,365
+10.9%
Debt
1,278
1,273
1,670
+0.4%
Other liabilities
3,421
3,261
3,204
+4.9%
Total liabilities and equity
6,352
6,024
6,239
+5.4%
Fixed assets
1,986
1,827
1,792
+8.7%
Goodwill
1,234
956
1,026
+29.1%
Intangible assets
548
495
547
+10.7%
Cash and equivalents
720
894
990
-19.5%
Receivables
1,164
1,074
1,038
+8.4%
Other assets
700
778
846
-10.0%
Total assets
6,352
6,024
6,239
+5.4%
10-K for the year ended 31 December 2016, filed 14 February 2019: the filing.