Labcorp Holdings (LH) FY2016 results: revenue $9.6 billion, up 10.1% on the year
Labcorp Holdings Inc. (LH) reported revenue of $9.6 billion for fiscal 2016, the year ended 31 December 2016, up 10.1% on the year before. Net income was $712 million, up 62.9%, and diluted earnings per share $6.82. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$9.6 billion
+10.1% on the year
FY2009FY2016
Operating margin
13.3%
11.5% a year earlier
FY2009FY2016
Net income
$712 million
+62.9% on the year
FY2009FY2016
Diluted EPS
$6.82
+57.1% 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
9,553
8,680
6,012
+10.1%
Cost of revenue
6,699
5,777
3,808
+16.0%
Gross profit
2,854
2,903
2,203
-1.7%
Gross margin
29.9%
33.4%
36.6%
Selling, general and administrative
1,346
1,628
1,198
-17.4%
Operating income
1,271
997
910
+27.5%
Operating margin
13.3%
11.5%
15.1%
Interest expense
219
275
110
-20.3%
Income tax
361
287
314
+25.5%
Net income
712
437
511
+62.9%
Net margin
7.5%
5.0%
8.5%
Diluted EPS
$6.82
$4.34
$5.91
+57.1%
$ 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
1,197
982
739
+21.9%
Capital expenditure
279
256
204
+9.0%
Free cash flow
918
727
536
+26.4%
Free cash flow margin
9.6%
8.4%
8.9%
Cash from investing
-796
-3,995
-350
Cash from financing
-671
3,185
-201
Depreciation and amortisation
499
458
246
+9.0%
Share-based compensation
110
102
45.7
+7.3%
Buybacks
43.9
0.0
269
Diluted shares, weighted
104m
101m
86m
+3.7%
Shares outstanding at period end
103m
101m
85m
+1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,518
4,944
2,820
+11.6%
Debt
5,850
6,356
3,030
-8.0%
Other liabilities
2,879
2,804
1,452
+2.7%
Total liabilities and equity
14,247
14,105
7,302
+1.0%
Fixed assets
1,719
1,747
786
-1.6%
Goodwill
6,424
6,202
3,099
+3.6%
Intangible assets
3,400
3,324
1,476
+2.3%
Cash and equivalents
434
716
580
-39.5%
Receivables
1,329
1,218
816
+9.1%
Inventory
205
191
140
+7.4%
Other assets
736
706
405
+4.2%
Total assets
14,247
14,105
7,302
+1.0%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.