JBT Marel (JBTM) FY2017 results: revenue $1.6 billion, up 21.1% on the year
JBT Marel Corp. (JBTM) reported revenue of $1.6 billion for fiscal 2017, the year ended 31 December 2017, up 21.1% on the year before. Net income was $80 million, up 19.1%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$1.6 billion
+21.1% on the year
FY2010FY2017
Operating margin
8.8%
7.5% a year earlier
FY2010FY2017
Net income
$80 million
+19.1% on the year
FY2010FY2017
Diluted EPS
$2.53
+11.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,635
1,350
1,107
+21.1%
Cost of revenue
1,164
970
790
+20.1%
Gross profit
190
158
124
+19.9%
Gross margin
11.6%
11.7%
11.2%
Research and development
28.7
23.6
18.2
+21.6%
Selling, general and administrative
325
267
207
+21.6%
Operating income
144
101
89.0
+42.4%
Operating margin
8.8%
7.5%
8.0%
Interest expense
13.6
9.4
6.8
+44.7%
Pre-tax income
132
94.0
82.2
+40.6%
Income tax
50.1
26.0
26.2
+92.7%
Effective tax rate
37.9%
27.7%
31.9%
Net income
80.5
67.6
55.9
+19.1%
Net margin
4.9%
5.0%
5.0%
Diluted EPS
$2.53
$2.27
$1.88
+11.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
105
67.4
112
+55.2%
Capital expenditure
37.9
37.1
37.7
+2.2%
Free cash flow
66.7
30.3
74.2
+120.1%
Free cash flow margin
4.1%
2.2%
6.7%
Cash from investing
-140
-267
-185
Cash from financing
34.7
195
83.9
-82.2%
Depreciation and amortisation
51.7
38.5
29.6
+34.3%
Share-based compensation
9.0
9.9
7.2
-9.1%
Buybacks
5.0
4.3
7.7
+16.3%
Dividends paid
12.7
11.8
11.2
+7.6%
Dividend per share
$0.40
$0.40
$0.37
0.0%
Diluted shares, weighted
32m
30m
30m
+7.0%
Shares outstanding at period end
32m
29m
29m
+8.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
442
180
130
+145.6%
Debt
383
499
283
-23.2%
Other liabilities
566
509
464
+11.3%
Total liabilities and equity
1,391
1,187
876
+17.2%
Fixed assets
233
210
181
+10.8%
Goodwill
302
240
152
+26.0%
Intangible assets
217
186
86.8
+16.6%
Cash and equivalents
34.0
33.2
37.2
+2.4%
Receivables
226
260
212
-13.3%
Inventory
190
140
105
+36.2%
Other assets
190
118
101
+60.3%
Total assets
1,391
1,187
876
+17.2%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.