Phillips 66 (PSX) FY2016 results: revenue $84.3 billion, down 14.8% on the year
Phillips 66 (PSX) reported revenue of $84.3 billion for fiscal 2016, the year ended 31 December 2016, down 14.8% on the year before. Net income was $1.6 billion, down 63.2%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$84.3 billion
-14.8% on the year
FY2010FY2016
Operating margin
n/a
FY2010FY2016
Net income
$1.6 billion
-63.2% on the year
FY2010FY2016
Diluted EPS
$2.92
-62.2% on the year
FY2010FY2016
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
84,279
98,975
161,212
-14.8%
Cost of revenue
62,468
n/a
n/a
Gross profit
21,811
n/a
n/a
Gross margin
25.9%
n/a
n/a
Research and development
60.0
65.0
62.0
-7.7%
Selling, general and administrative
1,638
1,670
1,663
-1.9%
Pre-tax income
2,191
6,044
5,745
-63.7%
Income tax
547
1,764
1,654
-69.0%
Effective tax rate
25.0%
29.2%
28.8%
Net income
1,555
4,227
4,762
-63.2%
Net margin
1.8%
4.3%
3.0%
Diluted EPS
$2.92
$7.73
$8.33
-62.2%
$ 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
2,963
5,713
3,529
-48.1%
Cash from investing
-3,158
-5,738
-2,296
Cash from financing
-178
-2,117
-1,362
Depreciation and amortisation
1,168
1,078
995
+8.3%
Share-based compensation
156
144
134
+8.3%
Buybacks
1,042
1,512
2,282
-31.1%
Dividends paid
1,282
1,172
1,062
+9.4%
Dividend per share
$2.45
$2.18
$1.89
+12.4%
Diluted shares, weighted
530m
547m
572m
-3.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
22,390
23,100
21,590
-3.1%
Non-controlling interest
1,335
838
447
+59.3%
Debt
9,588
8,843
8,635
+8.4%
Other liabilities
18,340
15,799
18,069
+16.1%
Total liabilities and equity
51,653
48,580
48,741
+6.3%
Fixed assets
20,855
19,721
17,346
+5.8%
Goodwill
3,270
3,275
3,274
-0.2%
Intangible assets
888
906
900
-2.0%
Cash and equivalents
2,711
3,074
5,207
-11.8%
Receivables
6,397
n/a
2.0
Inventory
3,150
3,477
3,397
-9.4%
Other assets
14,382
18,127
18,615
-20.7%
Total assets
51,653
48,580
48,741
+6.3%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.