Huntington Ingalls Industries (HII) FY2017 results: revenue $7.4 billion, up 5.3% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $7.4 billion for fiscal 2017, the year ended 31 December 2017, up 5.3% on the year before. Net income was $479 million, down 16.4%, and diluted earnings per share $10.46. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$7.4 billion
+5.3% on the year
FY2010FY2017
Operating margin
11.8%
12.4% a year earlier
FY2010FY2017
Net income
$479 million
-16.4% on the year
FY2010FY2017
Diluted EPS
$10.46
-13.8% 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
7,441
7,068
7,020
+5.3%
Cost of revenue
6,018
5,608
5,517
+7.3%
Gross profit
1,423
1,460
1,503
-2.5%
Gross margin
19.1%
20.7%
21.4%
Research and development
17.0
19.0
19.0
-10.5%
Operating income
881
876
769
+0.6%
Operating margin
11.8%
12.4%
11.0%
Interest expense
94.0
74.0
137
+27.0%
Pre-tax income
772
784
632
-1.5%
Income tax
293
211
228
+38.9%
Effective tax rate
38.0%
26.9%
36.1%
Net income
479
573
404
-16.4%
Net margin
6.4%
8.1%
5.8%
Diluted EPS
$10.46
$12.14
$8.36
-13.8%
$ 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
814
822
861
-1.0%
Capital expenditure
382
285
188
+34.0%
Free cash flow
432
537
673
-19.6%
Free cash flow margin
5.8%
7.6%
9.6%
Cash from investing
-349
-653
-141
Cash from financing
-484
-343
-816
Depreciation and amortisation
205
186
180
+10.2%
Share-based compensation
34.0
36.0
43.0
-5.6%
Buybacks
286
194
232
+47.4%
Dividends paid
115
98.0
81.0
+17.3%
Dividend per share
$2.52
$2.10
$1.70
+20.0%
Diluted shares, weighted
46m
47m
48m
-3.0%
Shares outstanding at period end
45m
46m
47m
-2.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,758
1,653
1,490
+6.4%
Debt
1,279
1,278
1,273
+0.1%
Other liabilities
3,337
3,421
3,261
-2.5%
Total liabilities and equity
6,374
6,352
6,024
+0.3%
Fixed assets
2,215
1,986
1,827
+11.5%
Goodwill
1,217
1,234
956
-1.4%
Intangible assets
508
548
495
-7.3%
Cash and equivalents
701
720
894
-2.6%
Receivables
429
1,164
1,074
-63.1%
Other assets
1,304
700
778
+86.3%
Total assets
6,374
6,352
6,024
+0.3%
10-K for the year ended 31 December 2017, filed 14 February 2019: the filing.