MKS (MKSI) FY2017 results: revenue $1.9 billion, up 47.9% on the year
MKS Inc. (MKSI) reported revenue of $1.9 billion for fiscal 2017, the year ended 31 December 2017, up 47.9% on the year before. Net income was $339 million, up 223.6%, and diluted earnings per share $6.16. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.9 billion
+47.9% on the year
FY2010FY2017
Operating margin
21.2%
12.1% a year earlier
FY2010FY2017
Net income
$339 million
+223.6% on the year
FY2010FY2017
Diluted EPS
$6.16
+217.5% 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
1,916
1,295
814
+47.9%
Cost of revenue
1,025
730
451
+40.4%
Gross profit
891
566
363
+57.6%
Gross margin
46.5%
43.7%
44.6%
Research and development
133
111
68.3
+19.9%
Selling, general and administrative
291
228
129
+27.5%
Operating income
407
157
157
+158.6%
Operating margin
21.2%
12.1%
19.3%
Interest expense
31.0
30.6
0.1
+1.2%
Pre-tax income
448
128
159
+249.8%
Income tax
108
23.2
37.2
+368.3%
Effective tax rate
24.2%
18.1%
23.3%
Net income
339
105
122
+223.6%
Net margin
17.7%
8.1%
15.0%
Diluted EPS
$6.16
$1.94
$2.28
+217.5%
$ 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
355
180
138
+97.2%
Capital expenditure
31.3
19.1
12.4
+63.6%
Free cash flow
324
161
126
+101.2%
Free cash flow margin
16.9%
12.4%
15.5%
Cash from investing
22.6
-727
n/a
Cash from financing
-280
560
n/a
Depreciation and amortisation
82.6
65.9
22.1
+25.2%
Share-based compensation
24.4
25.2
13.0
-3.4%
Buybacks
n/a
1.5
13.3
Dividends paid
38.2
36.4
36.0
+5.0%
Dividend per share
$0.71
$0.68
$0.68
+4.4%
Diluted shares, weighted
55m
54m
54m
+1.9%
Shares outstanding at period end
54m
54m
53m
+1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,589
1,242
1,161
+28.0%
Debt
393
612
0.0
-35.8%
Other liabilities
432
358
112
+20.6%
Total liabilities and equity
2,414
2,212
1,273
+9.1%
Fixed assets
172
175
68.9
-1.6%
Goodwill
591
589
200
+0.4%
Intangible assets
366
408
44.0
-10.2%
Investments
220
199
431
+10.4%
Cash and equivalents
334
229
228
+46.0%
Receivables
300
249
102
+20.7%
Inventory
339
276
153
+22.9%
Other assets
91.5
88.5
48.0
+3.4%
Total assets
2,414
2,212
1,273
+9.1%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.