Timken (TKR) FY2017 results: revenue $3.0 billion, up 12.5% on the year
Timken Co. (TKR) reported revenue of $3.0 billion for fiscal 2017, the year ended 31 December 2017, up 12.5% on the year before. Net income was $203 million, up 44.5%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$3.0 billion
+12.5% on the year
FY2010FY2017
Operating margin
10.0%
9.2% a year earlier
FY2010FY2017
Net income
$203 million
+44.5% on the year
FY2010FY2017
Diluted EPS
$2.58
+44.9% 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
3,004
2,670
2,872
+12.5%
Cost of revenue
2,192
1,964
2,068
+11.6%
Gross profit
812
706
820
+15.0%
Gross margin
27.0%
26.5%
28.5%
Research and development
35.3
31.8
32.6
+11.0%
Selling, general and administrative
508
440
458
+15.5%
Operating income
300
244
256
+22.5%
Operating margin
10.0%
9.2%
8.9%
Interest expense
37.1
33.5
33.4
+10.7%
Pre-tax income
361
285
413
+26.8%
Income tax
57.6
60.5
26.3
-4.8%
Effective tax rate
15.9%
21.2%
6.4%
Net income
203
141
189
+44.5%
Net margin
6.8%
5.3%
6.6%
Diluted EPS
$2.58
$1.78
$2.21
+44.9%
$ 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
237
404
380
-41.4%
Capital expenditure
105
138
106
-23.9%
Free cash flow
132
266
275
-50.4%
Free cash flow margin
4.4%
10.0%
9.6%
Cash from investing
-449
-211
-265
Cash from financing
168
-169
-247
Depreciation and amortisation
138
132
131
+4.6%
Share-based compensation
24.7
14.1
18.4
+75.2%
Buybacks
43.4
101
310
-57.0%
Dividends paid
83.3
81.6
87.0
+2.1%
Dividend per share
$1.07
$1.04
$1.03
+2.9%
Diluted shares, weighted
79m
79m
85m
-0.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,443
1,280
1,324
+12.7%
Non-controlling interest
32.2
31.2
20.2
+3.2%
Debt
962
659
656
+46.0%
Other liabilities
965
788
784
+22.5%
Total liabilities and equity
3,402
2,758
2,785
+23.4%
Fixed assets
864
804
778
+7.4%
Goodwill
512
358
327
+43.2%
Intangible assets
421
271
271
+55.2%
Investments
16.4
11.7
9.7
+40.2%
Cash and equivalents
122
149
130
-18.3%
Receivables
525
438
455
+19.8%
Inventory
739
554
543
+33.4%
Other assets
204
173
272
+17.8%
Total assets
3,402
2,758
2,785
+23.4%
10-K for the year ended 31 December 2017, filed 15 February 2019: the filing.