Johnson Controls International (JCI) FY2017 results: revenue $22.8 billion, up 9.6% on the year
Johnson Controls International plc (JCI) reported revenue of $22.8 billion for fiscal 2017, the year ended 30 September 2017, up 9.6% on the year before. Net income was $1.6 billion, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2019.
Revenue
$22.8 billion
+9.6% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$1.6 billion
FY2010FY2017
Diluted EPS
$1.71
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
22,835
20,837
17,100
+9.6%
Cost of revenue
15,305
15,183
12,569
+0.8%
Gross profit
7,530
5,654
4,531
+33.2%
Gross margin
33.0%
27.1%
26.5%
Research and development
307
158
134
+94.3%
Selling, general and administrative
5,723
4,190
3,191
+36.6%
Interest expense
446
293
275
+52.2%
Pre-tax income
1,151
1,061
931
+8.5%
Income tax
322
197
71.0
+63.5%
Effective tax rate
28.0%
18.6%
7.6%
Net income
1,611
-868
1,563
Net margin
7.1%
-4.2%
9.1%
Diluted EPS
$1.71
-$1.30
$2.36
$ 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
371
1,908
1,600
-80.6%
Capital expenditure
760
1,249
1,135
-39.2%
Free cash flow
-389
659
465
Free cash flow margin
-1.7%
3.2%
2.7%
Cash from investing
-648
-887
470
Cash from financing
-649
-946
-1,821
Depreciation and amortisation
919
953
860
-3.6%
Share-based compensation
134
142
90.0
-5.6%
Buybacks
651
501
1,362
+29.9%
Dividends paid
702
915
657
-23.3%
Dividend per share
$1.00
$1.16
$1.04
-13.8%
Diluted shares, weighted
945m
667m
662m
+41.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
20,447
24,118
10,335
-15.2%
Non-controlling interest
920
972
163
-5.3%
Redeemable equity
211
234
212
-9.8%
Short-term borrowings
n/a
n/a
35.0
Debt
13,572
12,759
5,367
+6.4%
Other liabilities
16,734
25,170
13,510
-33.5%
Total liabilities and equity
51,884
63,253
29,622
-18.0%
Fixed assets
3,341
5,632
3,683
-40.7%
Goodwill
18,591
21,024
4,460
-11.6%
Intangible assets
6,741
7,540
1,387
-10.6%
Cash and equivalents
301
579
553
-48.0%
Receivables
6,666
6,394
3,617
+4.3%
Inventory
3,209
2,888
1,665
+11.1%
Other assets
13,035
19,196
14,257
-32.1%
Total assets
51,884
63,253
29,622
-18.0%
10-K for the year ended 30 September 2017, filed 21 November 2019: the filing.