Masco (MAS) FY2017 results: revenue $6.0 billion, down 18.3% on the year
Masco Corp. (MAS) reported revenue of $6.0 billion for fiscal 2017, the year ended 31 December 2017, down 18.3% on the year before. Net income was $533 million, up 8.1%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2018.
Revenue
$6.0 billion
-18.3% on the year
FY2010FY2017
Operating margin
17.1%
14.8% a year earlier
FY2010FY2017
Net income
$533 million
+8.1% on the year
FY2010FY2017
Diluted EPS
$1.66
+12.2% 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
6,014
7,357
7,142
-18.3%
Cost of revenue
3,794
4,901
4,889
-22.6%
Gross profit
2,220
2,462
2,253
-9.8%
Gross margin
36.9%
33.5%
31.5%
Selling, general and administrative
1,191
1,375
1,339
-13.4%
Operating income
1,029
1,087
914
-5.3%
Operating margin
17.1%
14.8%
12.8%
Interest expense
279
229
225
+21.8%
Pre-tax income
718
832
689
-13.7%
Income tax
245
296
293
-17.2%
Effective tax rate
34.1%
35.6%
42.5%
Net income
533
493
355
+8.1%
Net margin
8.9%
6.7%
5.0%
Diluted EPS
$1.66
$1.48
$1.02
+12.2%
$ 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
751
789
810
-4.8%
Capital expenditure
173
180
158
-3.9%
Free cash flow
578
609
652
-5.1%
Free cash flow margin
9.6%
8.3%
9.1%
Cash from investing
-25.0
-124
-189
Cash from financing
-577
-1,109
-521
Depreciation and amortisation
127
134
133
-5.2%
Share-based compensation
38.0
29.0
41.0
+31.0%
Buybacks
331
459
456
-27.9%
Dividends paid
129
128
126
+0.8%
Dividend per share
$0.41
$0.39
$0.37
+5.1%
Diluted shares, weighted
318m
330m
341m
-3.6%
Shares outstanding at period end
310m
318m
330m
-2.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-53.0
-298
-135
Non-controlling interest
236
195
193
+21.0%
Debt
3,085
2,997
3,407
+2.9%
Other liabilities
2,266
2,270
2,199
-0.2%
Total liabilities and equity
5,534
5,164
5,664
+7.2%
Fixed assets
1,129
1,060
1,027
+6.5%
Goodwill
453
832
839
-45.6%
Intangible assets
187
154
160
+21.4%
Investments
108
201
296
-46.3%
Cash and equivalents
1,194
990
1,468
+20.6%
Receivables
1,066
917
853
+16.2%
Inventory
784
712
687
+10.1%
Other assets
613
298
334
+105.7%
Total assets
5,534
5,164
5,664
+7.2%
10-K for the year ended 31 December 2017, filed 8 February 2018: the filing.