Thermo Fisher Scientific (TMO) FY2015 results: revenue $17.0 billion, up 0.4% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $17.0 billion for fiscal 2015, the year ended 31 December 2015, up 0.4% on the year before. Net income was $2.0 billion, up 4.3%, and diluted earnings per share $4.92. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$17.0 billion
+0.4% on the year
FY2008FY2015
Operating margin
13.8%
14.8% a year earlier
FY2008FY2015
Net income
$2.0 billion
+4.3% on the year
FY2008FY2015
Diluted EPS
$4.92
+4.5% 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
16,965
16,890
13,090
+0.4%
Cost of revenue
9,210
9,398
7,561
-2.0%
Gross profit
7,756
7,492
5,529
+3.5%
Gross margin
45.7%
44.4%
42.2%
Research and development
692
691
396
+0.2%
Selling, general and administrative
4,612
4,896
3,446
-5.8%
Operating income
2,336
2,503
1,610
-6.7%
Operating margin
13.8%
14.8%
12.3%
Interest expense
415
480
262
-13.5%
Pre-tax income
1,936
2,087
1,320
-7.2%
Income tax
-44.0
192
40.4
Effective tax rate
-2.3%
9.2%
3.1%
Net income
1,975
1,894
1,273
+4.3%
Net margin
11.6%
11.2%
9.7%
Diluted EPS
$4.92
$4.71
$3.48
+4.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,942
2,729
2,011
+7.8%
Capital expenditure
423
428
282
-1.1%
Free cash flow
2,519
2,301
1,728
+9.5%
Free cash flow margin
14.8%
13.6%
13.2%
Cash from investing
-1,093
-11,783
-263
Cash from financing
-2,617
n/a
n/a
Depreciation and amortisation
1,688
1,685
1,000
+0.2%
Share-based compensation
125
117
90.9
+6.7%
Buybacks
500
0.0
89.8
Dividends paid
241
235
216
+2.5%
Dividend per share
$0.60
$0.60
$0.60
0.0%
Diluted shares, weighted
402m
402m
366m
-0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
21,350
20,548
16,856
+3.9%
Debt
12,472
14,564
10,487
-14.4%
Other liabilities
7,067
7,740
4,520
-8.7%
Total liabilities and equity
40,889
42,852
31,863
-4.6%
Fixed assets
2,449
2,426
1,767
+0.9%
Goodwill
18,828
18,843
12,503
-0.1%
Intangible assets
12,758
14,110
7,071
-9.6%
Investments
n/a
8.5
4.5
Cash and equivalents
452
1,344
5,826
-66.3%
Receivables
2,545
2,474
1,942
+2.9%
Inventory
1,992
1,860
1,494
+7.1%
Other assets
1,866
1,788
1,254
+4.4%
Total assets
40,889
42,852
31,863
-4.6%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.