Masco (MAS) FY2016 results: revenue $7.4 billion, up 3.0% on the year
Masco Corp. (MAS) reported revenue of $7.4 billion for fiscal 2016, the year ended 31 December 2016, up 3.0% on the year before. Net income was $493 million, up 38.9%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2017.
Revenue
$7.4 billion
+3.0% on the year
FY2009FY2016
Operating margin
14.8%
12.8% a year earlier
FY2009FY2016
Net income
$493 million
+38.9% on the year
FY2009FY2016
Diluted EPS
$1.48
+45.1% 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
7,357
7,142
7,006
+3.0%
Cost of revenue
4,901
4,889
4,946
+0.2%
Gross profit
2,462
2,253
2,060
+9.3%
Gross margin
33.5%
31.5%
29.4%
Selling, general and administrative
1,375
1,339
1,347
+2.7%
Operating income
1,087
914
721
+18.9%
Operating margin
14.8%
12.8%
10.3%
Interest expense
229
225
225
+1.8%
Pre-tax income
832
689
507
+20.8%
Income tax
296
293
-361
+1.0%
Effective tax rate
35.6%
42.5%
-71.2%
Net income
493
355
856
+38.9%
Net margin
6.7%
5.0%
12.2%
Diluted EPS
$1.48
$1.02
$2.38
+45.1%
$ 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
789
810
602
-2.6%
Capital expenditure
180
158
128
+13.9%
Free cash flow
609
652
474
-6.6%
Free cash flow margin
8.3%
9.1%
6.8%
Cash from investing
-124
-189
-100
Cash from financing
-1,109
-521
-297
Depreciation and amortisation
134
133
167
+0.8%
Share-based compensation
29.0
41.0
47.0
-29.3%
Buybacks
459
456
158
+0.7%
Dividends paid
128
126
117
+1.6%
Dividend per share
$0.39
$0.37
$0.34
+5.4%
Diluted shares, weighted
330m
341m
352m
-3.2%
Shares outstanding at period end
318m
330m
345m
-3.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-298
-135
924
Non-controlling interest
195
193
204
+1.0%
Debt
2,997
3,407
3,424
-12.0%
Other liabilities
2,270
2,199
2,656
+3.2%
Total liabilities and equity
5,164
5,664
7,208
-8.8%
Fixed assets
1,060
1,027
1,046
+3.2%
Goodwill
832
839
840
-0.8%
Intangible assets
154
160
142
-3.8%
Investments
201
296
356
-32.1%
Cash and equivalents
990
1,468
1,379
-32.6%
Receivables
917
853
820
+7.5%
Inventory
712
687
712
+3.6%
Other assets
298
334
1,913
-10.8%
Total assets
5,164
5,664
7,208
-8.8%
10-K for the year ended 31 December 2016, filed 9 February 2017: the filing.