IPG Photonics (IPGP) FY2015 results: revenue $901 million, up 17.1% on the year
IPG Photonics Corp. (IPGP) reported revenue of $901 million for fiscal 2015, the year ended 31 December 2015, up 17.1% on the year before. Net income was $242 million, up 20.8%, and diluted earnings per share $4.53. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$901 million
+17.1% on the year
FY2009FY2015
Operating margin
38.0%
36.9% a year earlier
FY2009FY2015
Net income
$242 million
+20.8% on the year
FY2009FY2015
Diluted EPS
$4.53
+19.5% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
901
770
648
+17.1%
Cost of revenue
409
353
308
+15.9%
Gross profit
492
417
340
+18.1%
Gross margin
54.6%
54.1%
52.5%
Research and development
63.3
53.4
41.7
+18.6%
Operating income
342
284
218
+20.5%
Operating margin
38.0%
36.9%
33.7%
Interest expense
0.3
0.1
0.0
+290.9%
Pre-tax income
342
284
218
+20.1%
Income tax
99.6
84.0
62.5
+18.5%
Effective tax rate
29.2%
29.5%
28.6%
Net income
242
200
156
+20.8%
Net margin
26.9%
26.0%
24.0%
Diluted EPS
$4.53
$3.79
$2.97
+19.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
263
180
119
+46.3%
Capital expenditure
70.1
88.6
70.9
-20.9%
Free cash flow
193
91.5
48.4
+111.3%
Free cash flow margin
21.5%
11.9%
7.5%
Cash from investing
-182
-90.1
-75.9
Cash from financing
-1.5
11.5
14.1
Depreciation and amortisation
42.4
35.6
31.5
+19.1%
Share-based compensation
19.0
15.2
11.7
+25.2%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
53m
53m
52m
+1.1%
Shares outstanding at period end
53m
52m
52m
+1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,260
1,047
928
+20.3%
Non-controlling interest
1.1
0.0
n/a
Debt
19.7
35.6
16.0
-44.8%
Other liabilities
173
129
117
+34.5%
Total liabilities and equity
1,453
1,211
1,061
+20.0%
Fixed assets
289
275
252
+4.9%
Goodwill
0.5
0.5
0.5
+11.0%
Intangible assets
11.9
9.2
9.6
+29.0%
Investments
107
0.0
n/a
Cash and equivalents
583
522
449
+11.6%
Receivables
150
143
104
+5.1%
Inventory
204
171
173
+19.1%
Other assets
109
89.9
73.7
+21.4%
Total assets
1,453
1,211
1,061
+20.0%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.