SM Energy (SM) FY2016 results: revenue $1.2 billion, down 21.8% on the year
SM Energy Co. (SM) reported revenue of $1.2 billion for fiscal 2016, the year ended 31 December 2016, down 21.8% on the year before. Net income was -$758 million, and diluted earnings per share $-9.90. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$1.2 billion
-21.8% on the year
FY2009FY2016
Operating margin
-86.8%
-37.2% a year earlier
FY2009FY2016
Net income
-$758 million
FY2009FY2016
Diluted EPS
-$9.90
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
1,217
1,557
2,522
-21.8%
Cost of revenue
598
n/a
n/a
Gross profit
620
n/a
n/a
Gross margin
50.9%
n/a
n/a
Operating income
-1,057
-579
1,166
Operating margin
-86.8%
-37.2%
46.2%
Interest expense
159
128
98.6
+23.8%
Pre-tax income
-1,202
-723
1,065
Income tax
-444
-275
399
Effective tax rate
n/a
n/a
37.4%
Net income
-758
-448
666
Net margin
-62.2%
-28.8%
26.4%
Diluted EPS
-$9.90
-$6.61
$9.79
$ 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
553
991
1,457
-44.2%
Cash from investing
-1,868
-1,145
-2,479
Cash from financing
1,327
154
740
+763.3%
Share-based compensation
26.9
27.5
32.7
-2.1%
Dividends paid
7.8
6.8
6.7
+14.5%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
77m
68m
68m
+13.1%
Shares outstanding at period end
111m
68m
67m
+63.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,497
1,852
2,287
+34.8%
Debt
2,898
2,518
2,332
+15.1%
Other liabilities
999
1,251
1,864
-20.2%
Total liabilities and equity
6,394
5,622
6,483
+13.7%
Fixed assets
6,081
4,950
5,504
+22.8%
Cash and equivalents
9.4
0.0
0.1
+51,966.7%
Receivables
152
134
323
+13.3%
Other assets
151
537
656
-71.9%
Total assets
6,394
5,622
6,483
+13.7%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.