J.M. Smucker (SJM) FY2017 results: revenue $7.4 billion, down 5.4% on the year
J.M. Smucker Co. (SJM) reported revenue of $7.4 billion for fiscal 2017, the year ended 30 April 2017, down 5.4% on the year before. Net income was $592 million, down 14.0%, and diluted earnings per share $5.10. The figures are the company's own, from the 10-K it filed with the SEC on 17 June 2019.
Revenue
$7.4 billion
-5.4% on the year
FY2010FY2017
Operating margin
14.1%
14.7% a year earlier
FY2010FY2017
Net income
$592 million
-14.0% on the year
FY2010FY2017
Diluted EPS
$5.10
-11.5% 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
7,392
7,811
5,693
-5.4%
Cost of revenue
4,557
4,843
3,724
-5.9%
Gross profit
2,835
2,968
1,969
-4.5%
Gross margin
38.4%
38.0%
34.6%
Research and development
58.1
58.8
32.5
-1.2%
Selling, general and administrative
1,380
1,510
1,031
-8.7%
Operating income
1,043
1,145
772
-9.0%
Operating margin
14.1%
14.7%
13.6%
Pre-tax income
878
978
523
-10.2%
Income tax
286
289
178
-1.1%
Effective tax rate
32.6%
29.6%
34.1%
Net income
592
689
345
-14.0%
Net margin
8.0%
8.8%
6.1%
Diluted EPS
$5.10
$5.76
$3.33
-11.5%
$ 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
1,059
1,461
739
-27.5%
Capital expenditure
192
201
248
-4.5%
Free cash flow
867
1,260
491
-31.2%
Free cash flow margin
11.7%
16.1%
8.6%
Depreciation and amortisation
419
430
267
-2.6%
Share-based compensation
22.0
34.6
23.5
-36.4%
Buybacks
438
441
24.3
-0.8%
Dividends paid
339
317
254
+7.2%
Dividend per share
$3.00
$2.68
$2.56
+11.9%
Diluted shares, weighted
116m
119m
103m
-2.8%
Shares outstanding at period end
113m
116m
120m
-2.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,850
7,008
7,087
-2.3%
Debt
5,398
5,430
6,171
-0.6%
Other liabilities
3,391
3,546
3,548
-4.4%
Total liabilities and equity
15,640
15,984
16,806
-2.2%
Fixed assets
1,618
1,628
1,678
-0.6%
Goodwill
6,077
6,091
6,010
-0.2%
Intangible assets
6,150
6,494
6,950
-5.3%
Investments
n/a
n/a
48.4
Cash and equivalents
167
110
126
+51.9%
Receivables
439
450
430
-2.5%
Inventory
906
899
1,164
+0.7%
Other assets
284
312
400
-8.9%
Total assets
15,640
15,984
16,806
-2.2%
10-K for the year ended 30 April 2017, filed 17 June 2019: the filing.