TE Connectivity (TEL) FY2016 results: revenue $11.4 billion, down 7.2% on the year
TE Connectivity plc (TEL) reported revenue of $11.4 billion for fiscal 2016, the year ended 30 September 2016, down 7.2% on the year before. Net income was $2.0 billion, down 17.0%, and diluted earnings per share $5.44. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2016.
Revenue
$11.4 billion
-7.2% on the year
FY2009FY2016
Operating margin
15.9%
14.3% a year earlier
FY2009FY2016
Net income
$2.0 billion
-17.0% on the year
FY2009FY2016
Diluted EPS
$5.44
-7.6% 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
11,352
12,233
11,973
-7.2%
Cost of revenue
7,525
8,146
8,001
-7.6%
Gross profit
3,827
4,087
3,972
-6.4%
Gross margin
33.7%
33.4%
33.2%
Research and development
525
540
484
-2.8%
Selling, general and administrative
1,396
1,504
1,534
-7.2%
Operating income
1,808
1,749
1,805
+3.4%
Operating margin
15.9%
14.3%
15.1%
Interest expense
127
136
127
-6.6%
Pre-tax income
1,021
1,575
1,760
-35.2%
Income tax
-826
337
146
Effective tax rate
-80.9%
21.4%
8.3%
Net income
2,009
2,420
1,781
-17.0%
Net margin
17.7%
19.8%
14.9%
Diluted EPS
$5.44
$5.89
$4.27
-7.6%
$ 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
1,947
1,930
2,083
+0.9%
Capital expenditure
603
600
635
+0.5%
Free cash flow
1,344
1,330
1,448
+1.1%
Free cash flow margin
11.8%
10.9%
12.1%
Cash from investing
-1,581
636
-1,075
Cash from financing
-3,055
-1,623
65.0
Depreciation and amortisation
560
616
551
-9.1%
Share-based compensation
87.0
89.0
77.0
-2.2%
Buybacks
2,787
1,023
578
+172.4%
Dividends paid
509
502
443
+1.4%
Dividend per share
$1.40
$1.24
$1.08
+12.9%
Diluted shares, weighted
369m
411m
417m
-10.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
8,485
9,585
9,007
-11.5%
Non-controlling interest
n/a
n/a
6.0
Debt
4,070
3,884
3,858
+4.8%
Other liabilities
5,053
7,139
7,281
-29.2%
Total liabilities and equity
17,608
20,608
20,152
-14.6%
Fixed assets
2,809
2,920
2,920
-3.8%
Goodwill
5,492
4,824
3,726
+13.8%
Intangible assets
1,879
1,555
1,087
+20.8%
Cash and equivalents
647
3,329
2,457
-80.6%
Receivables
2,046
2,120
2,057
-3.5%
Inventory
1,596
1,615
1,509
-1.2%
Other assets
3,139
4,245
6,396
-26.1%
Total assets
17,608
20,608
20,152
-14.6%
10-K for the year ended 30 September 2016, filed 15 November 2016: the filing.