International Paper (IP) FY2017 results: revenue $21.7 billion, up 11.5% on the year
International Paper Co. (IP) reported revenue of $21.7 billion for fiscal 2017, the year ended 31 December 2017, up 11.5% on the year before. Net income was $2.1 billion, up 137.2%, and diluted earnings per share $5.13. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$21.7 billion
+11.5% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.1 billion
+137.2% on the year
FY2010FY2017
Diluted EPS
$5.13
+135.3% 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
21,743
19,495
20,675
+11.5%
Cost of revenue
14,802
14,057
14,313
+5.3%
Gross profit
6,941
5,438
6,362
+27.6%
Gross margin
31.9%
27.9%
30.8%
Selling, general and administrative
1,621
1,458
1,539
+11.2%
Operating income
n/a
n/a
2,361
Operating margin
n/a
n/a
11.4%
Interest expense
758
695
644
+9.1%
Pre-tax income
848
795
1,132
+6.7%
Income tax
-1,085
193
417
Effective tax rate
-127.9%
24.3%
36.8%
Net income
2,144
904
938
+137.2%
Net margin
9.9%
4.6%
4.5%
Diluted EPS
$5.13
$2.18
$2.23
+135.3%
$ 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
1,757
2,478
2,580
-29.1%
Capital expenditure
1,280
1,241
1,310
+3.1%
Free cash flow
477
1,237
1,270
-61.4%
Free cash flow margin
2.2%
6.3%
6.1%
Cash from investing
-1,391
-3,498
-1,739
Cash from financing
-399
982
-1,601
Depreciation and amortisation
1,343
1,124
1,167
+19.5%
Buybacks
47.0
132
605
-64.4%
Dividends paid
769
733
685
+4.9%
Dividend per share
$1.86
$1.78
$1.64
+4.5%
Diluted shares, weighted
418m
416m
421m
+0.5%
Shares outstanding at period end
449m
449m
449m
0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,522
4,341
3,884
+50.2%
Non-controlling interest
19.0
18.0
25.0
+5.6%
Debt
17,448
17,598
15,547
-0.9%
Other liabilities
9,914
11,136
10,815
-11.0%
Total liabilities and equity
33,903
33,093
30,271
+2.4%
Fixed assets
13,265
13,003
11,980
+2.0%
Goodwill
3,411
3,364
3,335
+1.4%
Intangible assets
482
547
n/a
-11.9%
Investments
390
360
228
+8.3%
Cash and equivalents
1,018
1,033
1,050
-1.5%
Inventory
2,313
2,233
2,228
+3.6%
Other assets
13,024
12,553
11,450
+3.8%
Total assets
33,903
33,093
30,271
+2.4%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.