TE Connectivity (TEL) FY2017 results: revenue $12.2 billion, up 7.3% on the year
TE Connectivity plc (TEL) reported revenue of $12.2 billion for fiscal 2017, the year ended 29 September 2017, up 7.3% on the year before. Net income was $1.7 billion, down 16.2%, and diluted earnings per share $4.70. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2019.
Revenue
$12.2 billion
+7.3% on the year
FY2010FY2017
Operating margin
15.4%
15.9% a year earlier
FY2010FY2017
Net income
$1.7 billion
-16.2% on the year
FY2010FY2017
Diluted EPS
$4.70
-13.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
12,185
11,352
12,233
+7.3%
Cost of revenue
8,002
7,525
8,146
+6.3%
Gross profit
4,183
3,827
4,087
+9.3%
Gross margin
34.3%
33.7%
33.4%
Research and development
548
525
540
+4.4%
Selling, general and administrative
1,543
1,396
1,504
+10.5%
Operating income
1,876
1,808
1,749
+3.8%
Operating margin
15.4%
15.9%
14.3%
Interest expense
130
127
136
+2.4%
Pre-tax income
1,720
1,021
1,575
+68.5%
Income tax
180
-826
337
Effective tax rate
10.5%
-80.9%
21.4%
Net income
1,683
2,009
2,420
-16.2%
Net margin
13.8%
17.7%
19.8%
Diluted EPS
$4.70
$5.44
$5.89
-13.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,321
1,947
1,930
+19.2%
Capital expenditure
679
603
600
+12.6%
Free cash flow
1,642
1,344
1,330
+22.2%
Free cash flow margin
13.5%
11.8%
10.9%
Cash from investing
-932
-1,581
636
Cash from financing
-814
-3,055
-1,623
Depreciation and amortisation
611
560
616
+9.1%
Share-based compensation
95.0
87.0
89.0
+9.2%
Buybacks
614
2,787
1,023
-78.0%
Dividends paid
546
509
502
+7.3%
Dividend per share
$1.54
$1.40
$1.24
+10.0%
Diluted shares, weighted
358m
369m
411m
-3.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
9,751
8,485
9,585
+14.9%
Debt
4,344
4,070
3,884
+6.7%
Other liabilities
5,308
5,053
7,139
+5.0%
Total liabilities and equity
19,403
17,608
20,608
+10.2%
Fixed assets
3,159
2,809
2,920
+12.5%
Goodwill
5,651
5,492
4,824
+2.9%
Intangible assets
1,841
1,879
1,555
-2.0%
Cash and equivalents
1,218
647
3,329
+88.3%
Receivables
2,138
2,046
2,120
+4.5%
Inventory
1,647
1,596
1,615
+3.2%
Other assets
3,749
3,139
4,245
+19.4%
Total assets
19,403
17,608
20,608
+10.2%
10-K for the year ended 29 September 2017, filed 12 November 2019: the filing.