International Paper (IP) FY2016 results: revenue $19.5 billion, down 5.7% on the year
International Paper Co. (IP) reported revenue of $19.5 billion for fiscal 2016, the year ended 31 December 2016, down 5.7% on the year before. Net income was $904 million, down 3.6%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$19.5 billion
-5.7% on the year
FY2009FY2016
Operating margin
n/a
11.4% a year earlier
FY2009FY2016
Net income
$904 million
-3.6% on the year
FY2009FY2016
Diluted EPS
$2.18
-2.2% 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
19,495
20,675
23,617
-5.7%
Cost of revenue
14,057
14,313
16,254
-1.8%
Gross profit
5,438
6,362
7,363
-14.5%
Gross margin
27.9%
30.8%
31.2%
Selling, general and administrative
1,458
1,539
1,793
-5.3%
Operating income
n/a
2,361
2,058
Operating margin
n/a
11.4%
8.7%
Interest expense
695
644
677
+7.9%
Pre-tax income
795
1,132
872
-29.8%
Income tax
193
417
123
-53.7%
Effective tax rate
24.3%
36.8%
14.1%
Net income
904
938
555
-3.6%
Net margin
4.6%
4.5%
2.4%
Diluted EPS
$2.18
$2.23
$1.29
-2.2%
$ 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
2,478
2,580
3,077
-4.0%
Capital expenditure
1,241
1,310
1,366
-5.3%
Free cash flow
1,237
1,270
1,711
-2.6%
Free cash flow margin
6.3%
6.1%
7.2%
Cash from investing
-3,498
-1,739
-860
Cash from financing
982
-1,601
-2,086
Depreciation and amortisation
1,124
1,167
1,406
-3.7%
Buybacks
132
605
1,062
-78.2%
Dividends paid
733
685
620
+7.0%
Dividend per share
$1.78
$1.64
$1.45
+8.7%
Diluted shares, weighted
416m
421m
432m
-1.2%
Shares outstanding at period end
449m
449m
449m
0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,341
3,884
5,115
+11.8%
Non-controlling interest
18.0
25.0
148
-28.0%
Debt
17,598
15,547
11,423
+13.2%
Other liabilities
11,136
10,815
11,998
+3.0%
Total liabilities and equity
33,093
30,271
28,684
+9.3%
Fixed assets
13,003
11,980
12,728
+8.5%
Goodwill
3,364
3,335
3,773
+0.9%
Intangible assets
547
n/a
n/a
Investments
360
228
248
+57.9%
Cash and equivalents
1,033
1,050
1,881
-1.6%
Inventory
2,233
2,228
2,424
+0.2%
Other assets
12,553
11,450
7,630
+9.6%
Total assets
33,093
30,271
28,684
+9.3%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.