Idex (IEX) FY2017 results: revenue $2.3 billion, up 8.2% on the year
Idex Corp. (IEX) reported revenue of $2.3 billion for fiscal 2017, the year ended 31 December 2017, up 8.2% on the year before. Net income was $337 million, up 24.4%, and diluted earnings per share $4.36. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$2.3 billion
+8.2% on the year
FY2010FY2017
Operating margin
22.0%
19.5% a year earlier
FY2010FY2017
Net income
$337 million
+24.4% on the year
FY2010FY2017
Diluted EPS
$4.36
+23.5% 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
2,287
2,113
2,021
+8.2%
Cost of revenue
1,261
1,182
1,116
+6.6%
Gross profit
1,027
931
904
+10.3%
Gross margin
44.9%
44.0%
44.8%
Research and development
42.4
39.4
33.6
+7.6%
Selling, general and administrative
525
492
474
+6.6%
Operating income
503
412
437
+21.9%
Operating margin
22.0%
19.5%
21.6%
Interest expense
44.9
45.6
41.6
-1.6%
Pre-tax income
455
369
392
+23.5%
Income tax
118
97.4
110
+21.2%
Effective tax rate
25.9%
26.4%
27.9%
Net income
337
271
283
+24.4%
Net margin
14.7%
12.8%
14.0%
Diluted EPS
$4.36
$3.53
$3.62
+23.5%
$ 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
433
400
360
+8.2%
Capital expenditure
43.9
38.2
43.8
+14.7%
Free cash flow
389
362
317
+7.5%
Free cash flow margin
17.0%
17.1%
15.7%
Cash from investing
-54.7
-509
-210
Cash from financing
-277
46.5
-296
Depreciation and amortisation
84.2
86.9
78.1
-3.1%
Share-based compensation
24.4
20.3
20.0
+20.1%
Buybacks
29.1
57.3
211
-49.2%
Dividends paid
111
103
96.2
+8.3%
Dividend per share
$1.48
$1.36
$1.28
+8.8%
Diluted shares, weighted
77m
77m
78m
+0.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,887
1,544
1,443
+22.2%
Short-term borrowings
0.3
1.0
1.1
-75.3%
Debt
862
1,021
847
-15.5%
Other liabilities
651
589
514
+10.4%
Total liabilities and equity
3,400
3,155
2,805
+7.8%
Fixed assets
258
248
241
+4.3%
Goodwill
1,704
1,633
1,397
+4.4%
Intangible assets
415
436
288
-4.8%
Securities held for sale or to maturity
6.7
n/a
n/a
Cash and equivalents
376
236
328
+59.3%
Receivables
294
273
260
+7.8%
Inventory
260
253
239
+2.7%
Other assets
85.8
77.4
53.0
+10.8%
Total assets
3,400
3,155
2,805
+7.8%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.