SLB (SLB) FY2015 results: revenue $35.5 billion, down 27.0% on the year
SLB Limited (SLB) reported revenue of $35.5 billion for fiscal 2015, the year ended 31 December 2015, down 27.0% on the year before. Net income was $2.1 billion, down 61.9%, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2016.
Revenue
$35.5 billion
-27.0% on the year
FY2008FY2015
Operating margin
18.4%
21.8% a year earlier
FY2008FY2015
Net income
$2.1 billion
-61.9% on the year
FY2008FY2015
Diluted EPS
$1.63
-60.8% on the year
FY2008FY2015
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
35,475
48,580
45,266
-27.0%
Cost of revenue
28,321
37,398
35,331
-24.3%
Gross profit
7,154
11,182
9,935
-36.0%
Gross margin
20.2%
23.0%
21.9%
Research and development
1,094
1,217
1,174
-10.1%
Operating income
6,510
10,576
9,344
-38.4%
Operating margin
18.4%
21.8%
20.6%
Interest expense
346
369
391
-6.2%
Pre-tax income
2,881
7,639
8,691
-62.3%
Income tax
746
1,928
1,848
-61.3%
Effective tax rate
25.9%
25.2%
21.3%
Net income
2,072
5,438
6,732
-61.9%
Net margin
5.8%
11.2%
14.9%
Diluted EPS
$1.63
$4.16
$5.05
-60.8%
$ 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
8,572
11,219
9,788
-23.6%
Capital expenditure
2,410
3,976
3,943
-39.4%
Free cash flow
6,162
7,243
5,845
-14.9%
Free cash flow margin
17.4%
14.9%
12.9%
Cash from investing
n/a
n/a
-5,977
Cash from financing
n/a
n/a
-2,199
Depreciation and amortisation
4,078
4,094
3,879
-0.4%
Share-based compensation
326
329
315
-0.9%
Dividends paid
2,419
1,968
1,608
+22.9%
Diluted shares, weighted
1,275m
1,308m
1,333m
-2.5%
Shares outstanding at period end
1,256m
1,275m
1,307m
-1.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
35,633
37,850
39,469
-5.9%
Non-controlling interest
272
199
166
+36.7%
Debt
18,999
13,330
13,176
+42.5%
Other liabilities
13,101
15,525
14,289
-15.6%
Total liabilities and equity
68,005
66,904
67,100
+1.6%
Fixed assets
13,415
15,396
15,096
-12.9%
Goodwill
15,605
15,487
14,706
+0.8%
Intangible assets
4,569
4,654
4,709
-1.8%
Investments
41.0
81.0
81.0
-49.4%
Trading assets
n/a
n/a
194
Cash and equivalents
2,793
3,130
3,472
-10.8%
Receivables
8,780
11,171
11,497
-21.4%
Inventory
3,756
4,628
4,603
-18.8%
Other assets
19,046
12,357
12,742
+54.1%
Total assets
68,005
66,904
67,100
+1.6%
10-K for the year ended 31 December 2015, filed 27 January 2016: the filing.