Marzetti (MZTI) FY2016 results: revenue $1.2 billion, up 7.8% on the year
Marzetti Co. (MZTI) reported revenue of $1.2 billion for fiscal 2016, the year ended 30 June 2016, up 7.8% on the year before. Net income was $122 million, up 19.7%, and diluted earnings per share $4.44. The figures are the company's own, from the 10-K it filed with the SEC on 24 August 2016.
Revenue
$1.2 billion
+7.8% on the year
FY2009FY2016
Operating margin
15.5%
14.0% a year earlier
FY2009FY2016
Net income
$122 million
+19.7% on the year
FY2009FY2016
Diluted EPS
$4.44
+19.4% 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
1,191
1,105
1,041
+7.8%
Cost of revenue
891
847
793
+5.3%
Gross profit
300
258
249
+16.3%
Gross margin
25.2%
23.3%
23.9%
Selling, general and administrative
115
103
94.8
+11.9%
Operating income
185
155
154
+19.2%
Operating margin
15.5%
14.0%
14.8%
Pre-tax income
185
155
153
+19.5%
Income tax
62.9
52.9
52.3
+18.9%
Effective tax rate
34.1%
34.2%
34.1%
Net income
122
102
75.0
+19.7%
Net margin
10.2%
9.2%
7.2%
Diluted EPS
$4.44
$3.72
$2.74
+19.4%
$ 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
146
133
129
+9.9%
Capital expenditure
16.7
18.3
16.0
-8.9%
Free cash flow
129
114
113
+12.9%
Free cash flow margin
10.8%
10.4%
10.9%
Cash from investing
-17.4
-112
8.5
Cash from financing
-193
-49.8
-49.4
Depreciation and amortisation
24.1
21.1
20.4
+14.4%
Share-based compensation
3.3
3.0
2.5
+9.4%
Buybacks
0.2
0.6
3.1
-72.8%
Dividends paid
191
49.8
47.0
+282.8%
Dividend per share
$6.96
$1.82
$1.72
+282.4%
Diluted shares, weighted
27m
27m
27m
+0.2%
Shares outstanding at period end
27m
27m
27m
+0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
514
581
529
-11.6%
Debt
0.0
0.0
n/a
Other liabilities
121
121
98.7
-0.1%
Total liabilities and equity
635
702
627
-9.6%
Fixed assets
170
172
169
-1.6%
Goodwill
144
144
89.8
0.0%
Intangible assets
44.9
47.8
5.4
-6.1%
Cash and equivalents
118
182
212
-35.2%
Receivables
66.0
62.4
57.8
+5.7%
Inventory
76.1
77.9
74.5
-2.3%
Other assets
16.3
15.7
19.5
+3.5%
Total assets
635
702
627
-9.6%
10-K for the year ended 30 June 2016, filed 24 August 2016: the filing.