ITT (ITT) FY2015 results: revenue $2.5 billion, down 6.4% on the year
ITT Inc. (ITT) reported revenue of $2.5 billion for fiscal 2015, the year ended 31 December 2015, down 6.4% on the year before. Net income was $352 million, up 90.7%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2016.
Revenue
$2.5 billion
-6.4% on the year
FY2008FY2015
Operating margin
15.3%
10.0% a year earlier
FY2008FY2015
Net income
$352 million
+90.7% on the year
FY2008FY2015
Diluted EPS
$3.88
+95.0% on the year
FY2008FY2015
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
2,486
2,655
2,497
-6.4%
Cost of revenue
1,676
1,788
1,697
-6.2%
Gross profit
809
866
800
-6.6%
Gross margin
32.6%
32.6%
32.0%
Research and development
78.9
76.6
67.3
+3.0%
Operating income
380
266
184
+42.7%
Operating margin
15.3%
10.0%
7.4%
Interest expense
n/a
4.0
6.3
Pre-tax income
382
262
180
+45.9%
Income tax
70.1
71.3
-310
-1.7%
Effective tax rate
18.3%
27.2%
-171.5%
Net income
352
184
488
+90.7%
Net margin
14.2%
7.0%
19.6%
Diluted EPS
$3.88
$1.99
$5.29
+95.0%
$ 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
230
n/a
n/a
Capital expenditure
86.7
119
123
-27.0%
Free cash flow
143
n/a
n/a
Free cash flow margin
5.8%
n/a
n/a
Depreciation and amortisation
90.0
88.3
86.9
+1.9%
Share-based compensation
15.7
14.0
13.1
+12.1%
Buybacks
84.0
60.2
87.9
+39.5%
Dividends paid
42.8
40.7
36.4
+5.2%
Dividend per share
$0.47
$0.44
$0.40
+7.5%
Diluted shares, weighted
91m
93m
92m
-2.3%
Shares outstanding at period end
90m
91m
91m
-1.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,362
1,215
1,201
+12.1%
Non-controlling interest
3.3
5.4
5.9
-38.9%
Short-term borrowings
n/a
1.5
n/a
Debt
246
7.1
8.9
+3,360.6%
Other liabilities
2,112
2,403
2,524
-12.1%
Total liabilities and equity
3,724
3,632
3,740
+2.5%
Fixed assets
444
444
426
-0.1%
Goodwill
778
632
660
+23.1%
Intangible assets
187
91.4
107
+104.8%
Investments
64.9
5.4
113
+1,101.9%
Cash and equivalents
416
584
507
-28.8%
Receivables
585
500
497
+17.0%
Inventory
293
302
316
-3.2%
Other assets
956
1,072
1,114
-10.8%
Total assets
3,724
3,632
3,740
+2.5%
10-K for the year ended 31 December 2015, filed 22 February 2016: the filing.