Teva Pharmaceutical Industries (TEVA) FY2016 results: revenue $21.9 billion, up 11.5% on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $21.9 billion for fiscal 2016, the year ended 31 December 2016, up 11.5% on the year before. Net income was $329 million, down 79.3%, and diluted earnings per share $0.07. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$21.9 billion
+11.5% on the year
FY2009FY2016
Operating margin
9.8%
17.1% a year earlier
FY2009FY2016
Net income
$329 million
-79.3% on the year
FY2009FY2016
Diluted EPS
$0.07
-96.2% 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
21,903
19,652
20,272
+11.5%
Cost of revenue
10,250
8,296
9,216
+23.6%
Gross profit
11,653
11,356
11,056
+2.6%
Gross margin
53.2%
57.8%
54.5%
Research and development
422
35.0
0.0
+1,105.7%
Operating income
2,154
3,352
3,951
-35.7%
Operating margin
9.8%
17.1%
19.5%
Interest expense
546
270
300
+102.2%
Pre-tax income
824
2,352
3,638
-65.0%
Income tax
521
634
591
-17.8%
Effective tax rate
63.2%
27.0%
16.2%
Net income
329
1,588
3,055
-79.3%
Net margin
1.5%
8.1%
15.1%
Diluted EPS
$0.07
$1.82
$3.56
-96.2%
$ 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
3,890
5,542
5,127
-29.8%
Capital expenditure
901
772
929
+16.7%
Free cash flow
2,989
4,770
4,198
-37.3%
Free cash flow margin
13.6%
24.3%
20.7%
Cash from investing
-34,405
-5,565
-1,450
Cash from financing
25,217
4,805
-2,375
+424.8%
Depreciation and amortisation
1,524
1,308
1,508
+16.5%
Share-based compensation
124
117
95.0
+6.0%
Buybacks
0.0
439
500
Dividends paid
1,303
1,155
1,156
+12.8%
Dividend per share
$1.36
$1.36
$1.34
0.0%
Diluted shares, weighted
n/a
864m
858m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
33,337
29,769
23,313
+12.0%
Non-controlling interest
1,656
158
42.0
+948.1%
Short-term borrowings
n/a
75.0
46.0
Debt
35,800
8,358
8,566
+328.3%
Other liabilities
22,097
15,898
14,453
+39.0%
Total liabilities and equity
92,890
54,258
46,420
+71.2%
Fixed assets
8,073
6,544
6,535
+23.4%
Goodwill
44,409
19,025
18,408
+133.4%
Intangible assets
21,487
7,675
5,512
+180.0%
Cash and equivalents
988
6,946
2,226
-85.8%
Receivables
7,523
5,350
5,408
+40.6%
Inventory
4,954
3,966
4,371
+24.9%
Other assets
5,456
4,752
3,960
+14.8%
Total assets
92,890
54,258
46,420
+71.2%
10-K for the year ended 31 December 2016, filed 19 February 2019: the filing.