Timken (TKR) FY2015 results: revenue $2.9 billion, down 6.6% on the year
Timken Co. (TKR) reported revenue of $2.9 billion for fiscal 2015, the year ended 31 December 2015, down 6.6% on the year before. Net income was $189 million, up 10.4%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$2.9 billion
-6.6% on the year
FY2008FY2015
Operating margin
8.9%
6.8% a year earlier
FY2008FY2015
Net income
$189 million
+10.4% on the year
FY2008FY2015
Diluted EPS
$2.21
+18.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,872
3,076
3,035
-6.6%
Cost of revenue
2,068
2,178
2,167
-5.0%
Gross profit
820
898
868
-8.7%
Gross margin
28.5%
29.2%
28.6%
Research and development
32.6
38.8
39.3
-16.0%
Selling, general and administrative
458
542
547
-15.6%
Operating income
256
208
306
+22.8%
Operating margin
8.9%
6.8%
10.1%
Interest expense
33.4
28.7
24.4
+16.4%
Pre-tax income
413
333
383
+24.2%
Income tax
26.3
54.7
115
-51.9%
Effective tax rate
6.4%
16.4%
29.9%
Net income
189
171
263
+10.4%
Net margin
6.6%
5.6%
8.7%
Diluted EPS
$2.21
$1.87
$2.74
+18.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
380
307
430
+23.9%
Capital expenditure
106
127
134
-16.7%
Free cash flow
275
180
296
+52.4%
Free cash flow margin
9.6%
5.9%
9.8%
Cash from investing
-265
-195
-376
Cash from financing
-247
-202
-249
Depreciation and amortisation
131
137
142
-4.5%
Share-based compensation
18.4
21.8
16.3
-15.6%
Buybacks
310
271
189
+14.3%
Dividends paid
87.0
90.3
87.5
-3.7%
Dividend per share
$1.03
$1.00
$0.92
+3.0%
Diluted shares, weighted
85m
91m
96m
-6.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,324
1,576
2,637
-16.0%
Non-controlling interest
20.2
12.9
12.0
+56.6%
Debt
656
530
446
+23.8%
Other liabilities
784
882
1,384
-11.1%
Total liabilities and equity
2,785
3,001
4,478
-7.2%
Fixed assets
778
780
856
-0.3%
Goodwill
327
260
346
+26.1%
Intangible assets
271
240
207
+13.1%
Investments
9.7
n/a
n/a
Cash and equivalents
130
279
385
-53.5%
Receivables
455
476
444
-4.4%
Inventory
543
586
583
-7.2%
Other assets
272
382
1,657
-28.8%
Total assets
2,785
3,001
4,478
-7.2%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.