Masco (MAS) FY2015 results: revenue $7.1 billion, up 1.9% on the year
Masco Corp. (MAS) reported revenue of $7.1 billion for fiscal 2015, the year ended 31 December 2015, up 1.9% on the year before. Net income was $355 million, down 58.5%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$7.1 billion
+1.9% on the year
FY2008FY2015
Operating margin
12.8%
10.3% a year earlier
FY2008FY2015
Net income
$355 million
-58.5% on the year
FY2008FY2015
Diluted EPS
$1.02
-57.1% 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
7,142
7,006
6,761
+1.9%
Cost of revenue
4,889
4,946
4,802
-1.2%
Gross profit
2,253
2,060
1,959
+9.4%
Gross margin
31.5%
29.4%
29.0%
Selling, general and administrative
1,339
1,347
1,347
-0.6%
Operating income
914
721
612
+26.8%
Operating margin
12.8%
10.3%
9.1%
Interest expense
225
225
235
0.0%
Pre-tax income
689
507
386
+35.9%
Income tax
293
-361
86.0
Effective tax rate
42.5%
-71.2%
22.3%
Net income
355
856
288
-58.5%
Net margin
5.0%
12.2%
4.3%
Diluted EPS
$1.02
$2.38
$0.80
-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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
810
602
645
+34.6%
Capital expenditure
158
128
126
+23.4%
Free cash flow
652
474
519
+37.6%
Free cash flow margin
9.1%
6.8%
7.7%
Cash from investing
-189
-100
-77.0
Cash from financing
-521
-297
-382
Depreciation and amortisation
133
167
186
-20.4%
Share-based compensation
41.0
47.0
54.0
-12.8%
Buybacks
456
158
35.0
+188.6%
Dividends paid
126
117
107
+7.7%
Dividend per share
$0.37
$0.34
$0.30
+7.2%
Diluted shares, weighted
341m
352m
352m
-3.1%
Shares outstanding at period end
330m
345m
350m
-4.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
-135
924
559
Non-controlling interest
193
204
228
-5.4%
Debt
3,407
3,424
3,427
-0.5%
Other liabilities
2,199
2,656
2,671
-17.2%
Total liabilities and equity
5,664
7,208
6,885
-21.4%
Fixed assets
1,027
1,046
1,252
-1.8%
Goodwill
839
840
859
-0.1%
Intangible assets
160
142
149
+12.7%
Investments
296
356
434
-16.9%
Cash and equivalents
1,468
1,379
1,223
+6.5%
Receivables
853
820
1,004
+4.0%
Inventory
687
712
765
-3.5%
Other assets
334
1,913
1,199
-82.5%
Total assets
5,664
7,208
6,885
-21.4%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.