Innospec (IOSP) FY2017 results: revenue $1.3 billion, up 47.9% on the year
Innospec Inc. (IOSP) reported revenue of $1.3 billion for fiscal 2017, the year ended 31 December 2017, up 47.9% on the year before. Net income was $62 million, down 24.0%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$1.3 billion
+47.9% on the year
FY2010FY2017
Operating margin
9.6%
11.1% a year earlier
FY2010FY2017
Net income
$62 million
-24.0% on the year
FY2010FY2017
Diluted EPS
$2.52
-24.3% 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
1,307
883
1,012
+47.9%
Cost of revenue
904
551
666
+63.9%
Gross profit
403
332
346
+21.4%
Gross margin
30.9%
37.6%
34.2%
Research and development
31.4
25.4
25.3
+23.6%
Selling, general and administrative
244
217
207
+12.7%
Operating income
125
98.2
156
+27.3%
Operating margin
9.6%
11.1%
15.4%
Interest expense
7.2
2.6
2.3
+176.9%
Pre-tax income
128
103
152
+24.2%
Income tax
66.3
21.8
32.8
+204.1%
Effective tax rate
51.8%
21.1%
21.5%
Net income
61.8
81.3
120
-24.0%
Net margin
4.7%
9.2%
11.8%
Diluted EPS
$2.52
$3.33
$4.86
-24.3%
$ 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
82.7
106
118
-21.6%
Capital expenditure
23.3
16.5
17.6
+41.2%
Free cash flow
59.4
89.0
101
-33.3%
Free cash flow margin
4.5%
10.1%
9.9%
Cash from investing
-29.6
-209
n/a
Cash from financing
-66.4
69.5
n/a
Depreciation and amortisation
50.4
38.1
35.2
+32.3%
Share-based compensation
4.1
3.3
3.7
+24.2%
Buybacks
1.1
8.4
15.3
-86.9%
Dividends paid
18.6
15.9
14.9
+17.0%
Dividend per share
$0.77
$0.67
$0.61
+14.9%
Diluted shares, weighted
24m
24m
25m
+0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
794
654
605
+21.5%
Non-controlling interest
0.4
0.3
0.3
+33.3%
Debt
218
269
132
-18.8%
Other liabilities
398
259
293
+53.6%
Total liabilities and equity
1,410
1,181
1,030
+19.4%
Fixed assets
196
157
76.0
+24.5%
Goodwill
362
375
267
-3.5%
Intangible assets
163
144
169
+13.1%
Investments
n/a
0.0
4.8
Cash and equivalents
90.2
102
137
-11.5%
Receivables
244
154
137
+58.4%
Inventory
210
174
160
+20.7%
Other assets
145
74.7
78.9
+93.6%
Total assets
1,410
1,181
1,030
+19.4%
10-K for the year ended 31 December 2017, filed 20 February 2019: the filing.