Materion (MTRN) FY2015 results: revenue $1.0 billion, down 9.0% on the year
Materion Corp. (MTRN) reported revenue of $1.0 billion for fiscal 2015, the year ended 31 December 2015, down 9.0% on the year before. Net income was $32 million, down 23.7%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$1.0 billion
-9.0% on the year
FY2009FY2015
Operating margin
4.4%
5.1% a year earlier
FY2009FY2015
Net income
$32 million
-23.7% on the year
FY2009FY2015
Diluted EPS
$1.58
-21.8% on the year
FY2009FY2015
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
1,025
1,127
1,167
-9.0%
Cost of revenue
834
921
979
-9.4%
Gross profit
191
206
188
-7.3%
Gross margin
18.6%
18.3%
16.1%
Research and development
12.8
12.8
13.4
-0.4%
Selling, general and administrative
130
136
132
-4.8%
Operating income
45.3
57.6
27.6
-21.4%
Operating margin
4.4%
5.1%
2.4%
Pre-tax income
42.8
54.8
24.6
-21.9%
Income tax
10.7
12.7
4.4
-15.9%
Effective tax rate
24.9%
23.1%
17.7%
Net income
32.2
42.1
20.2
-23.7%
Net margin
3.1%
3.7%
1.7%
Diluted EPS
$1.58
$2.02
$0.97
-21.8%
$ 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
91.0
60.3
75.9
+51.0%
Capital expenditure
29.5
29.3
27.8
+0.7%
Free cash flow
61.5
31.0
48.1
+98.6%
Free cash flow margin
6.0%
2.7%
4.1%
Cash from investing
-52.0
-27.5
-32.6
Cash from financing
-26.9
-40.9
-36.2
Depreciation and amortisation
38.5
43.5
42.3
-11.6%
Share-based compensation
5.5
4.8
5.0
+14.0%
Buybacks
7.1
22.3
0.0
-68.0%
Dividends paid
7.1
6.9
6.5
+3.9%
Dividend per share
$0.35
$0.34
$0.32
+6.0%
Diluted shares, weighted
20m
21m
21m
-2.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
483
458
464
+5.4%
Short-term borrowings
9.0
0.7
n/a
+1,277.9%
Debt
13.6
24.3
64.8
-43.9%
Other liabilities
237
279
249
-15.0%
Total liabilities and equity
743
762
778
-2.5%
Fixed assets
264
248
262
+6.5%
Goodwill
86.7
86.7
86.7
0.0%
Intangible assets
13.4
18.6
24.2
-27.9%
Cash and equivalents
24.2
13.2
22.8
+84.3%
Receivables
97.2
113
113
-13.8%
Inventory
212
232
233
-8.9%
Other assets
45.6
50.9
36.5
-10.3%
Total assets
743
762
778
-2.5%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.