J.M. Smucker (SJM) FY2016 results: revenue $7.8 billion, up 37.2% on the year
J.M. Smucker Co. (SJM) reported revenue of $7.8 billion for fiscal 2016, the year ended 30 April 2016, up 37.2% on the year before. Net income was $689 million, up 99.7%, and diluted earnings per share $5.76. The figures are the company's own, from the 10-K it filed with the SEC on 21 June 2016.
Revenue
$7.8 billion
+37.2% on the year
FY2009FY2016
Operating margin
14.7%
13.6% a year earlier
FY2009FY2016
Net income
$689 million
+99.7% on the year
FY2009FY2016
Diluted EPS
$5.76
+73.0% 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
7,811
5,693
5,611
+37.2%
Cost of revenue
4,843
3,724
3,580
+30.1%
Gross profit
2,968
1,969
2,031
+50.7%
Gross margin
38.0%
34.6%
36.2%
Research and development
58.8
32.5
24.3
+80.9%
Selling, general and administrative
1,510
1,031
989
+46.4%
Operating income
1,145
772
919
+48.4%
Operating margin
14.7%
13.6%
16.4%
Pre-tax income
978
523
850
+87.0%
Income tax
289
178
284
+62.4%
Effective tax rate
29.6%
34.1%
33.5%
Net income
689
345
565
+99.7%
Net margin
8.8%
6.1%
10.1%
Diluted EPS
$5.76
$3.33
$5.42
+73.0%
$ 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
1,461
739
856
+97.7%
Capital expenditure
201
248
280
-18.7%
Free cash flow
1,260
491
576
+156.3%
Free cash flow margin
16.1%
8.6%
10.3%
Depreciation and amortisation
430
267
256
+61.0%
Share-based compensation
34.6
23.5
22.9
+47.2%
Buybacks
441
24.3
508
+1,715.2%
Dividends paid
317
254
238
+24.6%
Dividend per share
$2.68
$2.56
$2.32
+4.7%
Diluted shares, weighted
119m
103m
104m
+15.4%
Shares outstanding at period end
116m
120m
102m
-2.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,008
7,087
5,030
-1.1%
Debt
5,430
6,171
2,216
-12.0%
Other liabilities
3,546
3,548
1,796
-0.1%
Total liabilities and equity
15,984
16,806
9,041
-4.9%
Fixed assets
1,628
1,678
1,266
-3.0%
Goodwill
6,091
6,010
3,098
+1.4%
Intangible assets
6,494
6,950
3,024
-6.6%
Investments
n/a
48.4
55.4
Cash and equivalents
110
126
154
-12.6%
Receivables
450
430
309
+4.7%
Inventory
899
1,164
931
-22.7%
Other assets
312
400
204
-22.1%
Total assets
15,984
16,806
9,041
-4.9%
10-K for the year ended 30 April 2016, filed 21 June 2016: the filing.