Teva Pharmaceutical Industries (TEVA) FY2017 results: revenue $21.9 billion, down 0.2% on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $21.9 billion for fiscal 2017, the year ended 31 December 2017, down 0.2% on the year before. Net income was -$16.3 billion, and diluted earnings per share $-16.26. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$21.9 billion
-0.2% on the year
FY2010FY2017
Operating margin
-80.0%
9.8% a year earlier
FY2010FY2017
Net income
-$16.3 billion
FY2010FY2017
Diluted EPS
-$16.26
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
21,853
21,903
19,652
-0.2%
Cost of revenue
11,237
10,250
8,296
+9.6%
Gross profit
10,615
11,653
11,356
-8.9%
Gross margin
48.6%
53.2%
57.8%
Research and development
175
422
35.0
-58.5%
Operating income
-17,484
2,154
3,352
Operating margin
-80.0%
9.8%
17.1%
Interest expense
875
546
270
+60.3%
Pre-tax income
-18,379
824
2,352
Income tax
-1,933
521
634
Effective tax rate
n/a
63.2%
27.0%
Net income
-16,265
329
1,588
Net margin
-74.4%
1.5%
8.1%
Diluted EPS
-$16.26
$0.07
$1.82
$ 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
2,225
3,890
5,542
-42.8%
Capital expenditure
874
901
772
-3.0%
Free cash flow
1,351
2,989
4,770
-54.8%
Free cash flow margin
6.2%
13.6%
24.3%
Cash from investing
3,446
-34,405
-5,565
Cash from financing
-5,750
25,217
4,805
Depreciation and amortisation
2,112
1,524
1,308
+38.6%
Share-based compensation
133
124
117
+7.3%
Buybacks
0.0
0.0
439
Dividends paid
901
1,303
1,155
-30.9%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
1,016m
n/a
864m
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
17,359
33,337
29,769
-47.9%
Non-controlling interest
1,386
1,656
158
-16.3%
Short-term borrowings
n/a
n/a
75.0
Debt
32,475
35,800
8,358
-9.3%
Other liabilities
19,395
22,097
15,898
-12.2%
Total liabilities and equity
70,615
92,890
54,258
-24.0%
Fixed assets
7,673
8,073
6,544
-5.0%
Goodwill
28,414
44,409
19,025
-36.0%
Intangible assets
17,640
21,487
7,675
-17.9%
Cash and equivalents
963
988
6,946
-2.5%
Receivables
7,128
7,523
5,350
-5.3%
Inventory
4,924
4,954
3,966
-0.6%
Other assets
3,873
5,456
4,752
-29.0%
Total assets
70,615
92,890
54,258
-24.0%
10-K for the year ended 31 December 2017, filed 19 February 2019: the filing.