Seagate Technology Holdings (STX) FY2016 results: revenue $11.2 billion, down 18.8% on the year
Seagate Technology Holdings plc (STX) reported revenue of $11.2 billion for fiscal 2016, the year ended 1 July 2016, down 18.8% on the year before. Net income was $248 million, down 85.8%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 3 August 2018.
Revenue
$11.2 billion
-18.8% on the year
FY2009FY2016
Operating margin
4.0%
15.0% a year earlier
FY2009FY2016
Net income
$248 million
-85.8% on the year
FY2009FY2016
Diluted EPS
$0.82
-84.4% on the year
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
11,160
13,739
13,724
-18.8%
Cost of revenue
8,545
9,930
9,878
-13.9%
Gross profit
2,615
3,809
3,846
-31.3%
Gross margin
23.4%
27.7%
28.0%
Research and development
1,237
1,353
1,226
-8.6%
Selling, general and administrative
635
857
722
-25.9%
Operating income
445
2,058
1,776
-78.4%
Operating margin
4.0%
15.0%
12.9%
Interest expense
193
207
195
-6.8%
Pre-tax income
274
1,970
1,556
-86.1%
Income tax
26.0
228
-14.0
-88.6%
Effective tax rate
9.5%
11.6%
-0.9%
Net income
248
1,742
1,570
-85.8%
Net margin
2.2%
12.7%
11.4%
Diluted EPS
$0.82
$5.26
$4.52
-84.4%
$ 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
1,680
2,647
2,558
-36.5%
Capital expenditure
587
747
559
-21.4%
Free cash flow
1,093
1,900
1,999
-42.5%
Free cash flow margin
9.8%
13.8%
14.6%
Cash from investing
-1,211
-1,287
-322
Cash from financing
-1,820
-1,495
-1,311
Depreciation and amortisation
815
841
879
-3.1%
Share-based compensation
120
137
118
-12.4%
Buybacks
1,090
1,087
1,912
+0.3%
Dividends paid
727
664
557
+9.5%
Dividend per share
$2.43
$2.05
$1.67
+18.5%
Diluted shares, weighted
302m
331m
347m
-8.8%
Shares outstanding at period end
299m
315m
327m
-5.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,593
3,018
2,832
-47.2%
Non-controlling interest
0.0
0.0
0.0
Debt
4,133
4,158
3,920
-0.6%
Other liabilities
2,487
2,669
2,740
-6.8%
Total liabilities and equity
8,213
9,845
9,492
-16.6%
Fixed assets
2,160
2,278
2,136
-5.2%
Goodwill
1,237
874
537
+41.5%
Intangible assets
448
370
359
+21.1%
Investments
6.0
6.0
20.0
0.0%
Trading assets
n/a
n/a
0.0
Cash and equivalents
1,125
2,479
2,634
-54.6%
Receivables
1,318
1,735
1,729
-24.0%
Inventory
868
993
985
-12.6%
Other assets
1,051
1,110
1,092
-5.3%
Total assets
8,213
9,845
9,492
-16.6%
10-K for the year ended 1 July 2016, filed 3 August 2018: the filing.