J.M. Smucker (SJM) FY2015 results: revenue $5.7 billion, up 1.5% on the year
J.M. Smucker Co. (SJM) reported revenue of $5.7 billion for fiscal 2015, the year ended 30 April 2015, up 1.5% on the year before. Net income was $345 million, down 39.0%, and diluted earnings per share $3.33. The figures are the company's own, from the 10-K it filed with the SEC on 25 June 2015.
Revenue
$5.7 billion
+1.5% on the year
FY2009FY2015
Operating margin
13.6%
16.4% a year earlier
FY2009FY2015
Net income
$345 million
-39.0% on the year
FY2009FY2015
Diluted EPS
$3.33
-38.6% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,693
5,611
5,898
+1.5%
Cost of revenue
3,724
3,580
3,870
+4.0%
Gross profit
1,969
2,031
2,028
-3.1%
Gross margin
34.6%
36.2%
34.4%
Research and development
32.5
24.3
24.7
+33.7%
Selling, general and administrative
1,031
989
974
+4.3%
Operating income
772
919
910
-16.0%
Operating margin
13.6%
16.4%
15.4%
Pre-tax income
523
850
817
-38.4%
Income tax
178
284
273
-37.4%
Effective tax rate
34.1%
33.5%
33.4%
Net income
345
565
544
-39.0%
Net margin
6.1%
10.1%
9.2%
Diluted EPS
$3.33
$5.42
$5.00
-38.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
739
856
856
-13.7%
Capital expenditure
248
280
206
-11.4%
Free cash flow
491
576
649
-14.8%
Free cash flow margin
8.6%
10.3%
11.0%
Depreciation and amortisation
267
256
251
+4.2%
Share-based compensation
23.5
22.9
21.3
+2.6%
Buybacks
24.3
508
364
-95.2%
Dividends paid
254
238
223
+6.7%
Dividend per share
$2.56
$2.32
$2.08
+10.3%
Diluted shares, weighted
103m
104m
109m
-0.5%
Shares outstanding at period end
120m
102m
106m
+17.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,087
5,030
5,149
+40.9%
Debt
6,171
2,216
2,018
+178.4%
Other liabilities
3,548
1,796
1,865
+97.6%
Total liabilities and equity
16,806
9,041
9,032
+85.9%
Fixed assets
1,678
1,266
1,142
+32.6%
Goodwill
6,010
3,098
3,053
+94.0%
Intangible assets
6,950
3,024
3,089
+129.8%
Investments
48.4
55.4
48.8
-12.6%
Cash and equivalents
126
154
256
-18.2%
Receivables
430
309
314
+39.0%
Inventory
1,164
931
946
+25.0%
Other assets
400
204
183
+96.2%
Total assets
16,806
9,041
9,032
+85.9%
10-K for the year ended 30 April 2015, filed 25 June 2015: the filing.