Marzetti (MZTI) FY2017 results: revenue $1.2 billion, up 0.9% on the year
Marzetti Co. (MZTI) reported revenue of $1.2 billion for fiscal 2017, the year ended 30 June 2017, up 0.9% on the year before. Net income was $115 million, down 5.3%, and diluted earnings per share $4.20. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2019.
Revenue
$1.2 billion
+0.9% on the year
FY2010FY2017
Operating margin
14.5%
15.5% a year earlier
FY2010FY2017
Net income
$115 million
-5.3% on the year
FY2010FY2017
Diluted EPS
$4.20
-5.4% 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
1,202
1,191
1,105
+0.9%
Cost of revenue
883
891
847
-0.9%
Gross profit
319
300
258
+6.4%
Gross margin
26.5%
25.2%
23.3%
Selling, general and administrative
126
115
103
+9.2%
Operating income
174
185
155
-5.5%
Operating margin
14.5%
15.5%
14.0%
Pre-tax income
176
185
155
-4.9%
Income tax
60.2
62.9
52.9
-4.2%
Effective tax rate
34.3%
34.1%
34.2%
Net income
115
122
102
-5.3%
Net margin
9.6%
10.2%
9.2%
Diluted EPS
$4.20
$4.44
$3.72
-5.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
146
146
133
+0.3%
Capital expenditure
27.0
16.7
18.3
+62.0%
Free cash flow
119
129
114
-7.6%
Free cash flow margin
9.9%
10.8%
10.4%
Cash from investing
-60.6
-17.4
-112
Cash from financing
-60.8
-193
-49.8
Depreciation and amortisation
24.9
24.1
21.1
+3.1%
Share-based compensation
4.2
3.3
3.0
+27.7%
Buybacks
0.9
0.2
0.6
+458.7%
Dividends paid
59.0
191
49.8
-69.0%
Dividend per share
$2.15
$6.96
$1.82
-69.1%
Diluted shares, weighted
27m
27m
27m
+0.2%
Shares outstanding at period end
27m
27m
27m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
576
514
581
+12.1%
Debt
0.0
0.0
0.0
Other liabilities
140
121
121
+15.9%
Total liabilities and equity
716
635
702
+12.9%
Fixed assets
181
170
172
+6.5%
Goodwill
168
144
144
+16.9%
Intangible assets
60.2
44.9
47.8
+34.1%
Cash and equivalents
143
118
182
+21.2%
Receivables
69.9
66.0
62.4
+5.9%
Inventory
76.4
76.1
77.9
+0.4%
Other assets
18.1
16.3
15.7
+11.3%
Total assets
716
635
702
+12.9%
10-K for the year ended 30 June 2017, filed 27 August 2019: the filing.