ON Semiconductor (ON) FY2016 results: revenue $3.9 billion, up 11.8% on the year
ON Semiconductor Corp. (ON) reported revenue of $3.9 billion for fiscal 2016, the year ended 31 December 2016, up 11.8% on the year before. Net income was $182 million, down 11.7%, and diluted earnings per share $0.43. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$3.9 billion
+11.8% on the year
FY2009FY2016
Operating margin
6.3%
7.5% a year earlier
FY2009FY2016
Net income
$182 million
-11.7% on the year
FY2009FY2016
Diluted EPS
$0.43
-10.4% 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
3,907
3,496
3,162
+11.8%
Cost of revenue
2,610
2,303
2,077
+13.4%
Gross profit
1,300
1,193
1,085
+9.0%
Gross margin
33.3%
34.1%
34.3%
Research and development
447
397
367
+12.6%
Operating income
247
261
229
-5.5%
Operating margin
6.3%
7.5%
7.2%
Interest expense
145
49.7
34.1
+192.4%
Pre-tax income
181
220
192
-17.8%
Income tax
-3.9
10.8
-0.2
Effective tax rate
-2.2%
4.9%
-0.1%
Net income
182
206
190
-11.7%
Net margin
4.7%
5.9%
6.0%
Diluted EPS
$0.43
$0.48
$0.43
-10.4%
$ 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
581
471
481
+23.5%
Capital expenditure
211
271
204
-22.2%
Free cash flow
370
200
277
+85.4%
Free cash flow margin
9.5%
5.7%
8.8%
Cash from investing
-2,435
-264
-566
Cash from financing
2,265
-99.8
91.4
Depreciation and amortisation
364
358
269
+1.8%
Share-based compensation
56.1
46.9
45.8
+19.6%
Buybacks
0.0
348
122
Diluted shares, weighted
420m
428m
444m
-1.8%
Shares outstanding at period end
419m
412m
434m
+1.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,823
1,608
1,626
+13.4%
Non-controlling interest
21.8
23.7
20.9
-8.0%
Redeemable equity
32.9
0.0
n/a
Debt
3,807
1,516
1,207
+151.1%
Other liabilities
1,240
722
968
+71.7%
Total liabilities and equity
6,924
3,870
3,823
+78.9%
Fixed assets
2,159
1,274
1,204
+69.5%
Goodwill
925
271
264
+241.7%
Intangible assets
762
326
458
+133.9%
Investments
n/a
0.0
6.1
Cash and equivalents
1,028
618
512
+66.5%
Receivables
630
426
418
+47.7%
Inventory
1,030
750
730
+37.3%
Other assets
390
205
232
+90.7%
Total assets
6,924
3,870
3,823
+78.9%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.