JBT Marel (JBTM) FY2016 results: revenue $1.4 billion, up 22.0% on the year
JBT Marel Corp. (JBTM) reported revenue of $1.4 billion for fiscal 2016, the year ended 31 December 2016, up 22.0% on the year before. Net income was $68 million, up 20.9%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$1.4 billion
+22.0% on the year
FY2009FY2016
Operating margin
7.5%
8.0% a year earlier
FY2009FY2016
Net income
$68 million
+20.9% on the year
FY2009FY2016
Diluted EPS
$2.27
+20.7% 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
1,350
1,107
984
+22.0%
Cost of revenue
970
790
720
+22.7%
Gross profit
158
124
103
+28.1%
Gross margin
11.7%
11.2%
10.4%
Research and development
23.6
18.2
14.6
+29.7%
Selling, general and administrative
267
207
183
+29.2%
Operating income
101
89.0
50.7
+13.5%
Operating margin
7.5%
8.0%
5.2%
Interest expense
9.4
6.8
7.6
+38.2%
Pre-tax income
94.0
82.2
44.7
+14.4%
Income tax
26.0
26.2
13.9
-0.8%
Effective tax rate
27.7%
31.9%
31.1%
Net income
67.6
55.9
30.8
+20.9%
Net margin
5.0%
5.0%
3.1%
Diluted EPS
$2.27
$1.88
$1.03
+20.7%
$ 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
67.4
112
77.7
-39.8%
Capital expenditure
37.1
37.7
36.7
-1.6%
Free cash flow
30.3
74.2
41.0
-59.2%
Free cash flow margin
2.2%
6.7%
4.2%
Cash from investing
-267
-185
-127
Cash from financing
195
83.9
61.9
+132.3%
Depreciation and amortisation
38.5
29.6
25.3
+30.1%
Share-based compensation
9.9
7.2
7.3
+37.5%
Buybacks
4.3
7.7
2.8
-44.2%
Dividends paid
11.8
11.2
10.7
+5.4%
Dividend per share
$0.40
$0.37
$0.36
+8.1%
Diluted shares, weighted
30m
30m
30m
0.0%
Shares outstanding at period end
29m
29m
29m
+0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
180
130
119
+38.7%
Debt
499
283
178
+76.3%
Other liabilities
509
464
401
+9.7%
Total liabilities and equity
1,187
876
698
+35.5%
Fixed assets
210
181
148
+16.1%
Goodwill
240
152
69.2
+57.0%
Intangible assets
186
86.8
60.0
+114.3%
Cash and equivalents
33.2
37.2
33.3
-10.8%
Receivables
260
212
176
+22.6%
Inventory
140
105
112
+33.1%
Other assets
118
101
99.7
+17.1%
Total assets
1,187
876
698
+35.5%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.