JBT Marel (JBTM) FY2015 results: revenue $1.1 billion, up 12.5% on the year
JBT Marel Corp. (JBTM) reported revenue of $1.1 billion for fiscal 2015, the year ended 31 December 2015, up 12.5% on the year before. Net income was $56 million, up 81.5%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$1.1 billion
+12.5% on the year
FY2009FY2015
Operating margin
8.0%
5.2% a year earlier
FY2009FY2015
Net income
$56 million
+81.5% on the year
FY2009FY2015
Diluted EPS
$1.88
+82.5% 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
1,107
984
934
+12.5%
Cost of revenue
790
720
699
+9.9%
Gross profit
124
103
91.3
+20.4%
Gross margin
11.2%
10.4%
9.8%
Research and development
18.2
14.6
14.0
+24.7%
Selling, general and administrative
207
183
167
+12.9%
Operating income
89.0
50.7
53.2
+75.5%
Operating margin
8.0%
5.2%
5.7%
Interest expense
6.8
7.6
7.6
-10.5%
Pre-tax income
82.2
44.7
47.8
+83.9%
Income tax
26.2
13.9
13.8
+88.5%
Effective tax rate
31.9%
31.1%
28.9%
Net income
55.9
30.8
33.1
+81.5%
Net margin
5.0%
3.1%
3.5%
Diluted EPS
$1.88
$1.03
$1.11
+82.5%
$ 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
112
77.7
62.0
+44.0%
Capital expenditure
37.7
36.7
29.2
+2.7%
Free cash flow
74.2
41.0
32.8
+81.0%
Free cash flow margin
6.7%
4.2%
3.5%
Cash from investing
-185
-127
-28.1
Cash from financing
83.9
61.9
-102
+35.5%
Depreciation and amortisation
29.6
25.3
25.0
+17.0%
Share-based compensation
7.2
7.3
6.9
-1.4%
Buybacks
7.7
2.8
0.2
+175.0%
Dividends paid
11.2
10.7
10.1
+4.7%
Dividend per share
$0.37
$0.36
$0.34
+2.8%
Diluted shares, weighted
30m
30m
30m
-0.3%
Shares outstanding at period end
29m
29m
29m
+0.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
130
119
154
+8.8%
Short-term borrowings
n/a
n/a
1.0
Debt
283
178
99.4
+58.9%
Other liabilities
464
401
366
+15.7%
Total liabilities and equity
876
698
621
+25.6%
Fixed assets
181
148
133
+22.7%
Goodwill
152
69.2
30.8
+120.4%
Intangible assets
86.8
60.0
21.4
+44.7%
Cash and equivalents
37.2
33.3
29.4
+11.7%
Receivables
212
176
186
+20.6%
Inventory
105
112
118
-6.2%
Other assets
101
99.7
103
+1.4%
Total assets
876
698
621
+25.6%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.