Resmed (RMD) FY2017 results: revenue $2.1 billion, up 12.4% on the year
Resmed Inc. (RMD) reported revenue of $2.1 billion for fiscal 2017, the year ended 30 June 2017, up 12.4% on the year before. Net income was $342 million, down 2.9%, and diluted earnings per share $2.40. The figures are the company's own, from the 10-K it filed with the SEC on 4 August 2017.
Revenue
$2.1 billion
+12.4% on the year
FY2010FY2017
Operating margin
20.6%
23.3% a year earlier
FY2010FY2017
Net income
$342 million
-2.9% on the year
FY2010FY2017
Diluted EPS
$2.40
-3.6% 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
2,067
1,839
1,679
+12.4%
Cost of revenue
865
772
668
+12.0%
Gross profit
1,202
1,066
1,011
+12.7%
Gross margin
58.1%
58.0%
60.2%
Research and development
144
119
115
+21.8%
Selling, general and administrative
554
488
479
+13.5%
Operating income
426
429
409
-0.7%
Operating margin
20.6%
23.3%
24.4%
Interest expense
28.2
11.2
5.8
+152.0%
Pre-tax income
419
440
436
-4.7%
Income tax
76.5
87.2
83.0
-12.3%
Effective tax rate
18.3%
19.8%
19.0%
Net income
342
352
353
-2.9%
Net margin
16.6%
19.2%
21.0%
Diluted EPS
$2.40
$2.49
$2.47
-3.6%
$ 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
414
548
383
-24.4%
Capital expenditure
62.2
58.5
62.5
+6.3%
Free cash flow
352
489
321
-28.1%
Free cash flow margin
17.0%
26.6%
19.1%
Cash from investing
-81.9
-1,126
n/a
Cash from financing
-263
613
n/a
Depreciation and amortisation
112
86.8
73.1
+29.1%
Share-based compensation
45.9
46.4
47.9
-1.0%
Buybacks
n/a
102
160
Dividends paid
186
168
157
+10.8%
Dividend per share
$1.32
$1.20
$1.12
+10.0%
Diluted shares, weighted
142m
142m
143m
+0.6%
Shares outstanding at period end
142m
141m
140m
+1.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,960
1,695
1,587
+15.7%
Debt
1,079
1,175
301
-8.2%
Other liabilities
430
389
296
+10.4%
Total liabilities and equity
3,468
3,259
2,184
+6.4%
Fixed assets
394
384
388
+2.6%
Goodwill
1,065
1,059
264
+0.5%
Intangible assets
262
300
47.1
-12.7%
Cash and equivalents
822
731
717
+12.4%
Receivables
451
382
363
+17.9%
Inventory
268
224
247
+19.5%
Other assets
207
178
158
+16.4%
Total assets
3,468
3,259
2,184
+6.4%
10-K for the year ended 30 June 2017, filed 4 August 2017: the filing.