Parker-Hannifin (PH) FY2017 results: revenue $12.0 billion, up 5.9% on the year
Parker-Hannifin Corp. (PH) reported revenue of $12.0 billion for fiscal 2017, the year ended 30 June 2017, up 5.9% on the year before. Net income was $983 million, up 21.9%, and diluted earnings per share $7.25. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2017.
Revenue
$12.0 billion
+5.9% on the year
FY2010FY2017
Operating margin
14.9%
13.9% a year earlier
FY2010FY2017
Net income
$983 million
+21.9% on the year
FY2010FY2017
Diluted EPS
$7.25
+23.1% 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
12,029
11,361
12,712
+5.9%
Cost of revenue
9,119
8,823
9,655
+3.4%
Gross profit
2,840
2,537
3,056
+11.9%
Gross margin
23.6%
22.3%
24.0%
Research and development
337
360
403
-6.4%
Selling, general and administrative
1,413
1,359
1,545
+3.9%
Operating income
1,790
1,576
1,838
+13.6%
Operating margin
14.9%
13.9%
14.5%
Interest expense
162
137
118
+19.0%
Pre-tax income
1,329
1,115
1,432
+19.2%
Income tax
345
308
420
+12.1%
Effective tax rate
26.0%
27.6%
29.3%
Net income
983
807
1,012
+21.9%
Net margin
8.2%
7.1%
8.0%
Diluted EPS
$7.25
$5.89
$6.97
+23.1%
$ 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
1,302
1,211
1,363
+7.6%
Capital expenditure
204
149
216
+36.4%
Free cash flow
1,099
1,061
1,148
+3.5%
Free cash flow margin
9.1%
9.3%
9.0%
Cash from investing
-3,365
-265
-579
Cash from financing
1,783
-843
-1,106
Depreciation and amortisation
348
298
313
+16.6%
Share-based compensation
80.3
71.3
96.1
+12.7%
Buybacks
338
587
1,436
-42.4%
Dividends paid
345
342
340
+1.0%
Dividend per share
$2.58
n/a
$2.37
Diluted shares, weighted
136m
137m
145m
-1.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,262
4,575
5,104
+15.0%
Non-controlling interest
5.7
3.4
3.3
+66.4%
Debt
5,870
3,014
2,947
+94.8%
Other liabilities
4,352
4,464
4,200
-2.5%
Total liabilities and equity
15,490
12,057
12,254
+28.5%
Fixed assets
1,937
1,568
1,664
+23.5%
Goodwill
5,587
2,903
2,943
+92.4%
Intangible assets
2,307
923
1,013
+150.1%
Investments
39.3
882
733
-95.5%
Cash and equivalents
885
1,222
1,181
-27.6%
Receivables
1,931
n/a
n/a
Inventory
1,549
1,173
1,300
+32.1%
Other assets
1,254
3,386
3,420
-63.0%
Total assets
15,490
12,057
12,254
+28.5%
10-K for the year ended 30 June 2017, filed 25 August 2017: the filing.