Parker-Hannifin (PH) FY2016 results: revenue $11.4 billion, down 10.6% on the year
Parker-Hannifin Corp. (PH) reported revenue of $11.4 billion for fiscal 2016, the year ended 30 June 2016, down 10.6% on the year before. Net income was $807 million, down 20.3%, and diluted earnings per share $5.89. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2016.
Revenue
$11.4 billion
-10.6% on the year
FY2009FY2016
Operating margin
13.9%
14.5% a year earlier
FY2009FY2016
Net income
$807 million
-20.3% on the year
FY2009FY2016
Diluted EPS
$5.89
-15.5% 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
11,361
12,712
13,216
-10.6%
Cost of revenue
8,823
9,655
10,188
-8.6%
Gross profit
2,537
3,056
3,028
-17.0%
Gross margin
22.3%
24.0%
22.9%
Research and development
360
403
410
-10.7%
Selling, general and administrative
1,359
1,545
1,634
-12.0%
Operating income
1,576
1,838
1,790
-14.3%
Operating margin
13.9%
14.5%
13.5%
Interest expense
137
118
82.6
+15.3%
Pre-tax income
1,115
1,432
1,557
-22.2%
Income tax
308
420
515
-26.7%
Effective tax rate
27.6%
29.3%
33.1%
Net income
807
1,012
1,041
-20.3%
Net margin
7.1%
8.0%
7.9%
Diluted EPS
$5.89
$6.97
$6.87
-15.5%
$ 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
1,211
1,363
1,388
-11.2%
Capital expenditure
149
216
216
-30.7%
Free cash flow
1,061
1,148
1,172
-7.5%
Free cash flow margin
9.3%
9.0%
8.9%
Cash from investing
-265
-579
-646
Cash from financing
-843
-1,106
-958
Depreciation and amortisation
298
313
334
-4.6%
Share-based compensation
71.3
96.1
103
-25.8%
Buybacks
587
1,436
204
-59.1%
Dividends paid
342
340
278
+0.5%
Dividend per share
n/a
$2.37
$1.86
Diluted shares, weighted
137m
145m
151m
-5.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,575
5,104
6,659
-10.4%
Non-controlling interest
3.4
3.3
3.4
+4.3%
Debt
3,014
2,947
2,325
+2.3%
Other liabilities
4,464
4,200
4,287
+6.3%
Total liabilities and equity
12,057
12,254
13,274
-1.6%
Fixed assets
1,568
1,664
1,824
-5.8%
Goodwill
2,903
2,943
3,171
-1.3%
Intangible assets
923
1,013
1,188
-9.0%
Investments
882
733
574
+20.3%
Cash and equivalents
1,222
1,181
1,614
+3.5%
Inventory
1,173
1,300
1,372
-9.8%
Other assets
3,386
3,420
3,531
-1.0%
Total assets
12,057
12,254
13,274
-1.6%
10-K for the year ended 30 June 2016, filed 26 August 2016: the filing.