NetApp (NTAP) FY2015 results: revenue $6.1 billion, down 3.2% on the year
NetApp, Inc. (NTAP) reported revenue of $6.1 billion for fiscal 2015, the year ended 24 April 2015, down 3.2% on the year before. Net income was $560 million, down 12.2%, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 12 June 2015.
Revenue
$6.1 billion
-3.2% on the year
FY2009FY2015
Operating margin
11.7%
11.6% a year earlier
FY2009FY2015
Net income
$560 million
-12.2% on the year
FY2009FY2015
Diluted EPS
$1.75
-4.4% 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
6,123
6,325
6,332
-3.2%
Cost of revenue
2,290
2,406
2,571
-4.8%
Gross profit
3,833
3,919
3,761
-2.2%
Gross margin
62.6%
62.0%
59.4%
Research and development
919
917
904
+0.2%
Operating income
716
734
608
-2.4%
Operating margin
11.7%
11.6%
9.6%
Interest expense
42.0
36.0
91.7
+16.7%
Pre-tax income
713
741
567
-3.8%
Income tax
153
103
61.3
+48.2%
Effective tax rate
21.5%
13.9%
10.8%
Net income
560
638
505
-12.2%
Net margin
9.1%
10.1%
8.0%
Diluted EPS
$1.75
$1.83
$1.37
-4.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,268
1,350
1,386
-6.1%
Capital expenditure
175
221
303
-20.8%
Free cash flow
1,093
1,129
1,083
-3.2%
Free cash flow margin
17.8%
17.8%
17.1%
Depreciation and amortisation
243
275
259
-11.6%
Share-based compensation
259
273
277
-5.0%
Buybacks
1,165
1,882
590
-38.1%
Dividends paid
208
202
0.0
+2.8%
Dividend per share
$0.66
$0.60
n/a
+10.0%
Diluted shares, weighted
321m
348m
368m
-7.8%
Shares outstanding at period end
306m
324m
n/a
-5.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,414
3,786
4,718
-9.8%
Short-term borrowings
0.0
n/a
n/a
Debt
1,488
996
2,252
+49.4%
Other liabilities
4,500
4,437
4,272
+1.4%
Total liabilities and equity
9,401
9,219
11,242
+2.0%
Fixed assets
1,030
1,109
1,171
-7.1%
Goodwill
1,027
988
988
+4.0%
Intangible assets
90.0
122
181
-25.9%
Investments
3,405
2,748
3,718
+23.9%
Cash and equivalents
1,922
2,291
3,277
-16.1%
Receivables
779
856
801
-9.0%
Inventory
146
122
140
+19.3%
Other assets
1,003
983
968
+2.0%
Total assets
9,401
9,219
11,242
+2.0%
10-K for the year ended 24 April 2015, filed 12 June 2015: the filing.