Timken (TKR) FY2016 results: revenue $2.7 billion, down 7.1% on the year
Timken Co. (TKR) reported revenue of $2.7 billion for fiscal 2016, the year ended 31 December 2016, down 7.1% on the year before. Net income was $141 million, down 25.3%, and diluted earnings per share $1.78. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$2.7 billion
-7.1% on the year
FY2009FY2016
Operating margin
9.2%
8.9% a year earlier
FY2009FY2016
Net income
$141 million
-25.3% on the year
FY2009FY2016
Diluted EPS
$1.78
-19.5% 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
2,670
2,872
3,076
-7.1%
Cost of revenue
1,964
2,068
2,178
-5.1%
Gross profit
706
820
898
-13.8%
Gross margin
26.5%
28.5%
29.2%
Research and development
31.8
32.6
38.8
-2.5%
Selling, general and administrative
440
458
542
-3.8%
Operating income
244
256
208
-4.5%
Operating margin
9.2%
8.9%
6.8%
Interest expense
33.5
33.4
28.7
+0.3%
Pre-tax income
285
413
333
-31.0%
Income tax
60.5
26.3
54.7
+130.0%
Effective tax rate
21.2%
6.4%
16.4%
Net income
141
189
171
-25.3%
Net margin
5.3%
6.6%
5.6%
Diluted EPS
$1.78
$2.21
$1.87
-19.5%
$ 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
404
380
307
+6.2%
Capital expenditure
138
106
127
+30.2%
Free cash flow
266
275
180
-3.0%
Free cash flow margin
10.0%
9.6%
5.9%
Cash from investing
-211
-265
-195
Cash from financing
-169
-247
-202
Depreciation and amortisation
132
131
137
+0.7%
Share-based compensation
14.1
18.4
21.8
-23.4%
Buybacks
101
310
271
-67.4%
Dividends paid
81.6
87.0
90.3
-6.2%
Dividend per share
$1.04
$1.03
$1.00
+1.0%
Diluted shares, weighted
79m
85m
91m
-7.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,280
1,324
1,576
-3.4%
Non-controlling interest
31.2
20.2
12.9
+54.5%
Debt
659
656
530
+0.4%
Other liabilities
788
784
882
+0.5%
Total liabilities and equity
2,758
2,785
3,001
-1.0%
Fixed assets
804
778
780
+3.4%
Goodwill
358
327
260
+9.2%
Intangible assets
271
271
240
-0.1%
Investments
11.7
9.7
n/a
+20.6%
Cash and equivalents
149
130
279
+14.8%
Receivables
438
455
476
-3.7%
Inventory
554
543
586
+1.9%
Other assets
173
272
382
-36.3%
Total assets
2,758
2,785
3,001
-1.0%
10-K for the year ended 31 December 2016, filed 15 February 2019: the filing.