Steel Dynamics (STLD) FY2015 results: revenue $7.6 billion, down 13.3% on the year
Steel Dynamics Inc. (STLD) reported revenue of $7.6 billion for fiscal 2015, the year ended 31 December 2015, down 13.3% on the year before. Net income was -$130 million, and diluted earnings per share $-0.54. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$7.6 billion
-13.3% on the year
FY2008FY2015
Operating margin
-1.0%
3.7% a year earlier
FY2008FY2015
Net income
-$130 million
FY2008FY2015
Diluted EPS
-$0.54
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
7,594
8,756
7,373
-13.3%
Cost of revenue
6,863
7,790
6,654
-11.9%
Gross profit
732
966
719
-24.3%
Gross margin
9.6%
11.0%
9.8%
Selling, general and administrative
376
386
333
-2.6%
Operating income
-72.8
320
387
Operating margin
-1.0%
3.7%
5.2%
Interest expense
154
137
128
+12.2%
Pre-tax income
-242
165
263
Income tax
-96.9
73.2
99.3
Effective tax rate
n/a
44.4%
37.8%
Net income
-130
157
189
Net margin
-1.7%
1.8%
2.6%
Diluted EPS
-$0.54
$0.67
$0.83
$ 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
1,054
628
312
+67.7%
Capital expenditure
115
112
187
+2.4%
Free cash flow
939
516
125
+81.8%
Free cash flow margin
12.4%
5.9%
1.7%
Depreciation and amortisation
295
263
231
+11.9%
Share-based compensation
30.2
24.0
15.5
+25.6%
Dividends paid
128
105
94.8
+21.1%
Dividend per share
$0.55
$0.46
$0.44
+19.6%
Diluted shares, weighted
242m
242m
239m
-0.0%
Shares outstanding at period end
243m
241m
223m
+0.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,680
2,913
2,496
-8.0%
Non-controlling interest
-135
-117
-51.5
Redeemable equity
126
126
117
0.0%
Debt
2,595
2,982
2,108
-13.0%
Other liabilities
936
1,329
1,220
-29.6%
Total liabilities and equity
6,202
7,233
5,889
-14.3%
Fixed assets
2,951
3,124
2,226
-5.5%
Goodwill
397
745
732
-46.7%
Intangible assets
279
371
386
-24.7%
Cash and equivalents
727
361
395
+101.2%
Receivables
579
860
664
-32.6%
Inventory
1,149
1,618
1,315
-29.0%
Other assets
119
154
170
-22.8%
Total assets
6,202
7,233
5,889
-14.3%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.