Steel Dynamics (STLD) FY2016 results: revenue $7.8 billion, up 2.4% on the year
Steel Dynamics Inc. (STLD) reported revenue of $7.8 billion for fiscal 2016, the year ended 31 December 2016, up 2.4% on the year before. Net income was $382 million, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$7.8 billion
+2.4% on the year
FY2009FY2016
Operating margin
9.4%
-1.0% a year earlier
FY2009FY2016
Net income
$382 million
FY2009FY2016
Diluted EPS
$1.56
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
7,777
7,594
8,756
+2.4%
Cost of revenue
6,442
6,863
7,790
-6.1%
Gross profit
1,335
732
966
+82.4%
Gross margin
17.2%
9.6%
11.0%
Selling, general and administrative
474
376
386
+26.1%
Operating income
728
-72.8
320
Operating margin
9.4%
-1.0%
3.7%
Interest expense
146
154
137
-5.1%
Pre-tax income
564
-242
165
Income tax
204
-96.9
73.2
Effective tax rate
36.2%
n/a
44.4%
Net income
382
-130
157
Net margin
4.9%
-1.7%
1.8%
Diluted EPS
$1.56
-$0.54
$0.67
$ 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
853
1,054
628
-19.1%
Capital expenditure
198
115
112
+73.1%
Free cash flow
655
939
516
-30.3%
Free cash flow margin
8.4%
12.4%
5.9%
Cash from investing
-313
n/a
n/a
Cash from financing
-425
n/a
n/a
Depreciation and amortisation
296
295
263
+0.5%
Share-based compensation
31.7
30.2
24.0
+4.9%
Buybacks
25.0
n/a
n/a
Dividends paid
136
128
105
+6.4%
Dividend per share
$0.56
$0.55
$0.46
+1.8%
Diluted shares, weighted
245m
242m
242m
+1.4%
Shares outstanding at period end
244m
243m
241m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,927
2,680
2,913
+9.2%
Non-controlling interest
-150
-135
-117
Redeemable equity
111
126
126
-12.0%
Debt
2,357
2,595
2,982
-9.2%
Other liabilities
1,178
936
1,329
+25.9%
Total liabilities and equity
6,424
6,202
7,233
+3.6%
Fixed assets
2,787
2,951
3,124
-5.6%
Goodwill
393
397
745
-1.0%
Intangible assets
284
279
371
+1.8%
Cash and equivalents
841
727
361
+15.7%
Receivables
704
579
860
+21.4%
Inventory
1,275
1,149
1,618
+10.9%
Other assets
139
119
154
+17.1%
Total assets
6,424
6,202
7,233
+3.6%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.