Labcorp Holdings (LH) FY2017 results: revenue $10.3 billion, up 7.9% on the year
Labcorp Holdings Inc. (LH) reported revenue of $10.3 billion for fiscal 2017, the year ended 31 December 2017, up 7.9% on the year before. Net income was $1.2 billion, up 72.4%, and diluted earnings per share $11.81. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$10.3 billion
+7.9% on the year
FY2010FY2017
Operating margin
12.7%
13.3% a year earlier
FY2010FY2017
Net income
$1.2 billion
+72.4% on the year
FY2010FY2017
Diluted EPS
$11.81
+73.2% 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
10,308
9,553
8,680
+7.9%
Cost of revenue
7,216
6,699
5,777
+7.7%
Gross profit
3,092
2,854
2,903
+8.3%
Gross margin
30.0%
29.9%
33.4%
Selling, general and administrative
1,499
1,346
1,628
+11.4%
Operating income
1,305
1,271
997
+2.7%
Operating margin
12.7%
13.3%
11.5%
Interest expense
235
219
275
+7.3%
Income tax
-155
361
287
Net income
1,227
712
437
+72.4%
Net margin
11.9%
7.5%
5.0%
Diluted EPS
$11.81
$6.82
$4.34
+73.2%
$ 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
1,498
1,197
982
+25.1%
Capital expenditure
313
279
256
+12.2%
Free cash flow
1,185
918
727
+29.1%
Free cash flow margin
11.5%
9.6%
8.4%
Cash from investing
-2,229
-796
-3,995
Cash from financing
593
-671
3,185
Depreciation and amortisation
533
499
458
+6.8%
Share-based compensation
110
110
102
+0.1%
Buybacks
338
43.9
0.0
+670.2%
Diluted shares, weighted
104m
104m
101m
-0.4%
Shares outstanding at period end
102m
103m
101m
-0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,804
5,518
4,944
+23.3%
Debt
6,762
5,850
6,356
+15.6%
Other liabilities
3,107
2,879
2,804
+7.9%
Total liabilities and equity
16,673
14,247
14,105
+17.0%
Fixed assets
1,707
1,719
1,747
-0.7%
Goodwill
7,401
6,424
6,202
+15.2%
Intangible assets
4,166
3,400
3,324
+22.5%
Cash and equivalents
317
434
716
-27.0%
Receivables
1,531
1,329
1,218
+15.2%
Inventory
228
205
191
+10.9%
Other assets
1,324
736
706
+79.9%
Total assets
16,673
14,247
14,105
+17.0%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.