Teleflex (TFX) FY2017 results: revenue $2.1 billion, up 14.9% on the year
Teleflex Inc. (TFX) reported revenue of $2.1 billion for fiscal 2017, the year ended 31 December 2017, up 14.9% on the year before. Net income was $153 million, down 35.7%, and diluted earnings per share $3.27. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$2.1 billion
+14.9% on the year
FY2010FY2017
Operating margin
17.3%
17.1% a year earlier
FY2010FY2017
Net income
$153 million
-35.7% on the year
FY2010FY2017
Diluted EPS
$3.27
-34.3% 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
2,146
1,868
1,810
+14.9%
Cost of revenue
975
872
865
+11.8%
Gross profit
1,172
996
944
+17.6%
Gross margin
54.6%
53.3%
52.2%
Research and development
84.8
58.6
52.1
+44.7%
Selling, general and administrative
700
563
569
+24.3%
Operating income
372
319
316
+16.5%
Operating margin
17.3%
17.1%
17.5%
Interest expense
82.5
54.9
61.3
+50.2%
Pre-tax income
285
246
245
+15.9%
Income tax
130
8.1
7.8
+1,505.7%
Effective tax rate
45.5%
3.3%
3.2%
Net income
153
237
245
-35.7%
Net margin
7.1%
12.7%
13.5%
Diluted EPS
$3.27
$4.98
$5.10
-34.3%
$ 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
420
408
301
+2.8%
Capital expenditure
70.9
53.1
61.4
+33.4%
Free cash flow
349
355
239
-1.8%
Free cash flow margin
16.3%
19.0%
13.2%
Depreciation and amortisation
160
128
125
+24.9%
Share-based compensation
19.4
16.9
14.5
+15.0%
Dividends paid
61.2
59.0
56.5
+3.9%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
47m
48m
48m
-2.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,431
2,138
2,009
+13.7%
Non-controlling interest
n/a
0.0
1.8
Redeemable equity
0.0
1.8
0.0
Debt
2,250
1,033
1,059
+117.7%
Other liabilities
1,501
719
808
+109.0%
Total liabilities and equity
6,181
3,891
3,879
+58.9%
Fixed assets
383
303
316
+26.4%
Goodwill
2,236
1,277
1,296
+75.1%
Intangible assets
2,384
1,092
1,200
+118.4%
Cash and equivalents
334
544
338
-38.7%
Receivables
346
272
262
+27.2%
Inventory
396
316
330
+25.2%
Other assets
104
88.0
136
+18.2%
Total assets
6,181
3,891
3,879
+58.9%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.