Labcorp Holdings (LH) FY2015 results: revenue $8.7 billion, up 44.4% on the year
Labcorp Holdings Inc. (LH) reported revenue of $8.7 billion for fiscal 2015, the year ended 31 December 2015, up 44.4% on the year before. Net income was $437 million, down 14.5%, and diluted earnings per share $4.34. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$8.7 billion
+44.4% on the year
FY2008FY2015
Operating margin
11.5%
15.1% a year earlier
FY2008FY2015
Net income
$437 million
-14.5% on the year
FY2008FY2015
Diluted EPS
$4.34
-26.6% 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
8,680
6,012
5,808
+44.4%
Cost of revenue
5,777
3,808
3,585
+51.7%
Gross profit
2,903
2,203
2,223
+31.8%
Gross margin
33.4%
36.6%
38.3%
Selling, general and administrative
1,628
1,198
1,129
+35.9%
Operating income
997
910
991
+9.5%
Operating margin
11.5%
15.1%
17.1%
Interest expense
275
110
96.5
+151.1%
Income tax
287
314
340
-8.5%
Net income
437
511
574
-14.5%
Net margin
5.0%
8.5%
9.9%
Diluted EPS
$4.34
$5.91
$6.25
-26.6%
$ 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
982
739
819
+32.9%
Capital expenditure
256
204
202
+25.7%
Free cash flow
727
536
616
+35.7%
Free cash flow margin
8.4%
8.9%
10.6%
Cash from investing
-3,995
-350
-360
Cash from financing
3,185
-201
-518
Depreciation and amortisation
458
246
230
+86.5%
Share-based compensation
102
45.7
37.3
+123.4%
Buybacks
0.0
269
1,016
Diluted shares, weighted
101m
86m
92m
+16.4%
Shares outstanding at period end
101m
85m
86m
+19.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,944
2,820
2,491
+75.3%
Debt
6,356
3,030
2,986
+109.8%
Other liabilities
2,804
1,452
1,489
+93.2%
Total liabilities and equity
14,105
7,302
6,966
+93.2%
Fixed assets
1,747
786
707
+122.2%
Goodwill
6,202
3,099
3,023
+100.1%
Intangible assets
3,324
1,476
1,572
+125.2%
Cash and equivalents
716
580
404
+23.5%
Receivables
1,218
816
785
+49.3%
Inventory
191
140
136
+36.9%
Other assets
706
405
338
+74.5%
Total assets
14,105
7,302
6,966
+93.2%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.