PPG Industries (PPG) FY2016 results: revenue $14.3 billion, up 0.2% on the year
PPG Industries Inc. (PPG) reported revenue of $14.3 billion for fiscal 2016, the year ended 31 December 2016, up 0.2% on the year before. Net income was $873 million, down 37.9%, and diluted earnings per share $3.28. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$14.3 billion
+0.2% on the year
FY2009FY2016
Operating margin
16.7%
16.1% a year earlier
FY2009FY2016
Net income
$873 million
-37.9% on the year
FY2009FY2016
Diluted EPS
$3.28
-36.2% 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
14,270
14,241
14,791
+0.2%
Research and development
473
484
499
-2.3%
Selling, general and administrative
3,555
3,584
3,696
-0.8%
Operating income
2,382
2,287
2,191
+4.2%
Operating margin
16.7%
16.1%
14.8%
Interest expense
125
125
187
0.0%
Pre-tax income
779
1,745
1,346
-55.4%
Income tax
214
413
237
-48.2%
Effective tax rate
27.5%
23.7%
17.6%
Net income
873
1,406
2,102
-37.9%
Net margin
6.1%
9.9%
14.2%
Diluted EPS
$3.28
$5.14
$7.51
-36.2%
$ 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
1,351
1,895
1,528
-28.7%
Capital expenditure
380
430
564
-11.6%
Free cash flow
971
1,465
964
-33.7%
Free cash flow margin
6.8%
10.3%
6.5%
Cash from investing
436
-395
-857
Cash from financing
-1,210
-812
-969
Depreciation and amortisation
440
446
450
-1.3%
Share-based compensation
45.0
54.0
71.0
-16.7%
Buybacks
1,050
751
750
+39.8%
Dividends paid
414
383
361
+8.1%
Dividend per share
$1.56
$1.41
$1.31
+10.6%
Diluted shares, weighted
267m
274m
280m
-2.3%
Shares outstanding at period end
257m
267m
272m
-3.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,826
4,983
5,180
-3.2%
Non-controlling interest
87.0
86.0
85.0
+1.2%
Debt
4,416
4,307
4,014
+2.5%
Other liabilities
6,440
7,700
8,256
-16.4%
Total liabilities and equity
15,769
17,076
17,535
-7.7%
Fixed assets
2,608
2,608
2,895
0.0%
Goodwill
3,572
3,625
3,801
-1.5%
Intangible assets
1,983
2,178
2,411
-9.0%
Investments
222
511
940
-56.6%
Cash and equivalents
1,820
1,311
686
+38.8%
Receivables
2,288
2,343
2,366
-2.3%
Inventory
1,514
1,659
1,825
-8.7%
Other assets
1,762
2,841
2,611
-38.0%
Total assets
15,769
17,076
17,535
-7.7%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.