IDEXX Laboratories (IDXX) FY2016 results: revenue $1.8 billion, up 10.8% on the year
IDEXX Laboratories Inc. (IDXX) reported revenue of $1.8 billion for fiscal 2016, the year ended 31 December 2016, up 10.8% on the year before. Net income was $222 million, up 15.6%, and diluted earnings per share $2.44. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$1.8 billion
+10.8% on the year
FY2009FY2016
Operating margin
19.7%
18.7% a year earlier
FY2009FY2016
Net income
$222 million
+15.6% on the year
FY2009FY2016
Diluted EPS
$2.44
+19.0% 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
1,775
1,602
1,486
+10.8%
Cost of revenue
800
712
670
+12.4%
Gross profit
975
890
816
+9.6%
Gross margin
54.9%
55.6%
54.9%
Research and development
101
99.7
98.3
+1.4%
Operating income
350
300
260
+16.8%
Operating margin
19.7%
18.7%
17.5%
Interest expense
32.0
29.2
15.4
+9.6%
Pre-tax income
322
273
247
+17.8%
Income tax
99.8
81.0
64.6
+23.2%
Effective tax rate
31.0%
29.7%
26.2%
Net income
222
192
182
+15.6%
Net margin
12.5%
12.0%
12.2%
Diluted EPS
$2.44
$2.05
$1.79
+19.0%
$ 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
339
n/a
236
Capital expenditure
64.8
82.9
60.5
-21.9%
Free cash flow
274
n/a
175
Free cash flow margin
15.4%
n/a
11.8%
Cash from investing
n/a
n/a
-80.4
Cash from financing
n/a
n/a
-103
Depreciation and amortisation
78.2
69.0
58.9
+13.4%
Share-based compensation
19.9
19.9
18.1
+0.0%
Buybacks
304
402
618
-24.4%
Diluted shares, weighted
91m
94m
102m
-3.0%
Shares outstanding at period end
n/a
n/a
95m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-108
-84.1
118
Non-controlling interest
0.1
0.1
0.1
+6.9%
Debt
594
597
350
-0.6%
Other liabilities
1,045
962
917
+8.7%
Total liabilities and equity
1,531
1,475
1,384
+3.8%
Fixed assets
357
333
304
+7.3%
Goodwill
178
179
184
-0.4%
Intangible assets
46.2
55.9
65.1
-17.4%
Investments
237
214
n/a
+10.9%
Cash and equivalents
155
129
323
+20.1%
Receivables
204
188
152
+8.6%
Inventory
158
189
160
-16.3%
Other assets
195
187
196
+3.8%
Total assets
1,531
1,475
1,384
+3.8%
10-K for the year ended 31 December 2016, filed 15 February 2019: the filing.