Materion (MTRN) FY2016 results: revenue $969 million, down 5.5% on the year
Materion Corp. (MTRN) reported revenue of $969 million for fiscal 2016, the year ended 31 December 2016, down 5.5% on the year before. Net income was $26 million, down 20.0%, and diluted earnings per share $1.27. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$969 million
-5.5% on the year
FY2009FY2016
Operating margin
3.0%
4.4% a year earlier
FY2009FY2016
Net income
$26 million
-20.0% on the year
FY2009FY2016
Diluted EPS
$1.27
-19.6% 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
969
1,025
1,127
-5.5%
Cost of revenue
785
834
921
-6.0%
Gross profit
185
191
206
-3.3%
Gross margin
19.0%
18.6%
18.3%
Research and development
12.8
12.8
12.8
+0.0%
Selling, general and administrative
129
130
136
-0.7%
Operating income
28.9
45.3
57.6
-36.2%
Operating margin
3.0%
4.4%
5.1%
Pre-tax income
25.3
42.8
54.8
-40.9%
Income tax
-0.4
10.7
12.7
Effective tax rate
-1.7%
24.9%
23.1%
Net income
25.7
32.2
42.1
-20.0%
Net margin
2.7%
3.1%
3.7%
Diluted EPS
$1.27
$1.58
$2.02
-19.6%
$ 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
68.2
91.0
60.3
-25.1%
Capital expenditure
27.2
29.5
29.3
-7.9%
Free cash flow
41.0
61.5
31.0
-33.3%
Free cash flow margin
4.2%
6.0%
2.7%
Cash from investing
-37.4
-52.0
-27.5
Cash from financing
-23.1
-26.9
-40.9
Depreciation and amortisation
45.7
38.5
43.5
+18.7%
Share-based compensation
3.2
5.5
4.8
-42.2%
Buybacks
3.8
7.1
22.3
-46.7%
Dividends paid
7.5
7.1
6.9
+5.1%
Dividend per share
$0.38
$0.35
$0.34
+5.6%
Diluted shares, weighted
20m
20m
21m
-0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
494
483
458
+2.3%
Short-term borrowings
0.7
9.0
0.7
-91.9%
Debt
4.6
13.6
24.3
-66.1%
Other liabilities
242
237
279
+2.0%
Total liabilities and equity
741
743
762
-0.2%
Fixed assets
253
264
248
-4.2%
Goodwill
87.0
86.7
86.7
+0.3%
Intangible assets
11.1
13.4
18.6
-17.3%
Cash and equivalents
31.5
24.2
13.2
+29.8%
Receivables
101
97.2
113
+3.7%
Inventory
201
212
232
-5.2%
Other assets
57.5
45.6
50.9
+26.1%
Total assets
741
743
762
-0.2%
10-K for the year ended 31 December 2016, filed 14 February 2019: the filing.