IPG Photonics (IPGP) FY2016 results: revenue $1.0 billion, up 11.6% on the year
IPG Photonics Corp. (IPGP) reported revenue of $1.0 billion for fiscal 2016, the year ended 31 December 2016, up 11.6% on the year before. Net income was $261 million, up 7.7%, and diluted earnings per share $4.85. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$1.0 billion
+11.6% on the year
FY2009FY2016
Operating margin
36.2%
38.0% a year earlier
FY2009FY2016
Net income
$261 million
+7.7% on the year
FY2009FY2016
Diluted EPS
$4.85
+7.1% 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
1,006
901
770
+11.6%
Cost of revenue
454
409
353
+10.9%
Gross profit
552
492
417
+12.3%
Gross margin
54.9%
54.6%
54.1%
Research and development
78.6
63.3
53.4
+24.0%
Operating income
364
342
284
+6.5%
Operating margin
36.2%
38.0%
36.9%
Interest expense
n/a
0.3
0.1
Pre-tax income
367
342
284
+7.3%
Income tax
106
99.6
84.0
+6.3%
Effective tax rate
28.9%
29.2%
29.5%
Net income
261
242
200
+7.7%
Net margin
25.9%
26.9%
26.0%
Diluted EPS
$4.85
$4.53
$3.79
+7.1%
$ 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
298
263
180
+13.0%
Capital expenditure
127
70.1
88.6
+81.2%
Free cash flow
171
193
91.5
-11.7%
Free cash flow margin
17.0%
21.5%
11.9%
Cash from investing
-274
-182
-90.1
Cash from financing
27.4
-1.5
11.5
Depreciation and amortisation
51.5
42.4
35.6
+21.4%
Share-based compensation
21.7
19.0
15.2
+14.5%
Buybacks
8.9
0.0
0.0
Diluted shares, weighted
54m
53m
53m
+0.7%
Shares outstanding at period end
53m
53m
52m
+0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,558
1,260
1,047
+23.7%
Non-controlling interest
0.2
1.1
0.0
-85.4%
Debt
40.8
19.7
35.6
+107.6%
Other liabilities
191
173
129
+10.6%
Total liabilities and equity
1,790
1,453
1,211
+23.2%
Fixed assets
379
289
275
+31.5%
Goodwill
19.8
0.5
0.5
+3,826.3%
Intangible assets
28.8
11.9
9.2
+141.8%
Investments
207
107
0.0
+94.0%
Cash and equivalents
624
583
522
+7.1%
Receivables
156
150
143
+3.6%
Inventory
239
204
171
+17.3%
Other assets
136
109
89.9
+25.1%
Total assets
1,790
1,453
1,211
+23.2%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.