SLB (SLB) FY2016 results: revenue $27.8 billion, down 21.6% on the year
SLB Limited (SLB) reported revenue of $27.8 billion for fiscal 2016, the year ended 31 December 2016, down 21.6% on the year before. Net income was -$1.7 billion, and diluted earnings per share $-1.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 January 2017.
Revenue
$27.8 billion
-21.6% on the year
FY2009FY2016
Operating margin
11.8%
18.4% a year earlier
FY2009FY2016
Net income
-$1.7 billion
FY2009FY2016
Diluted EPS
-$1.24
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
27,810
35,475
48,580
-21.6%
Cost of revenue
24,409
28,321
37,398
-13.8%
Gross profit
3,401
7,154
11,182
-52.5%
Gross margin
12.2%
20.2%
23.0%
Research and development
1,012
1,094
1,217
-7.5%
Operating income
3,273
6,510
10,576
-49.7%
Operating margin
11.8%
18.4%
21.8%
Interest expense
570
346
369
+64.7%
Pre-tax income
-1,905
2,881
7,639
Income tax
-278
746
1,928
Effective tax rate
n/a
25.9%
25.2%
Net income
-1,687
2,072
5,438
Net margin
-6.1%
5.8%
11.2%
Diluted EPS
-$1.24
$1.63
$4.16
$ 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
6,261
8,572
11,219
-27.0%
Capital expenditure
2,055
2,410
3,976
-14.7%
Free cash flow
4,206
6,162
7,243
-31.7%
Free cash flow margin
15.1%
17.4%
14.9%
Cash from investing
-624
n/a
n/a
Cash from financing
-5,428
n/a
n/a
Depreciation and amortisation
4,094
4,078
4,094
+0.4%
Share-based compensation
267
326
329
-18.1%
Dividends paid
2,647
2,419
1,968
+9.4%
Diluted shares, weighted
1,357m
1,275m
1,308m
+6.4%
Shares outstanding at period end
1,391m
1,256m
1,275m
+10.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
41,078
35,633
37,850
+15.3%
Non-controlling interest
451
272
199
+65.8%
Debt
19,616
18,999
13,330
+3.2%
Other liabilities
16,811
13,101
15,525
+28.3%
Total liabilities and equity
77,956
68,005
66,904
+14.6%
Fixed assets
12,821
13,415
15,396
-4.4%
Goodwill
24,990
15,605
15,487
+60.1%
Intangible assets
9,855
4,569
4,654
+115.7%
Investments
41.0
41.0
81.0
0.0%
Cash and equivalents
2,929
2,793
3,130
+4.9%
Receivables
9,387
8,780
11,171
+6.9%
Inventory
4,225
3,756
4,628
+12.5%
Other assets
13,708
19,046
12,357
-28.0%
Total assets
77,956
68,005
66,904
+14.6%
10-K for the year ended 31 December 2016, filed 25 January 2017: the filing.