Thermo Fisher Scientific (TMO) FY2016 results: revenue $18.3 billion, up 7.7% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $18.3 billion for fiscal 2016, the year ended 31 December 2016, up 7.7% on the year before. Net income was $2.0 billion, up 2.3%, and diluted earnings per share $5.09. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$18.3 billion
+7.7% on the year
FY2009FY2016
Operating margin
13.5%
13.8% a year earlier
FY2009FY2016
Net income
$2.0 billion
+2.3% on the year
FY2009FY2016
Diluted EPS
$5.09
+3.5% 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
18,274
16,965
16,890
+7.7%
Cost of revenue
9,905
9,210
9,398
+7.6%
Gross profit
8,369
7,756
7,492
+7.9%
Gross margin
45.8%
45.7%
44.4%
Research and development
755
692
691
+9.0%
Selling, general and administrative
4,976
4,612
4,896
+7.9%
Operating income
2,458
2,336
2,503
+5.2%
Operating margin
13.5%
13.8%
14.8%
Interest expense
470
415
480
+13.2%
Pre-tax income
2,024
1,936
2,087
+4.5%
Income tax
-1.0
-44.0
192
Effective tax rate
-0.0%
-2.3%
9.2%
Net income
2,022
1,975
1,894
+2.3%
Net margin
11.1%
11.6%
11.2%
Diluted EPS
$5.09
$4.92
$4.71
+3.5%
$ 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
3,258
2,942
2,729
+10.7%
Capital expenditure
444
423
428
+5.1%
Free cash flow
2,814
2,519
2,301
+11.7%
Free cash flow margin
15.4%
14.8%
13.6%
Cash from investing
-5,520
-1,093
-11,783
Cash from financing
2,759
-2,617
n/a
Depreciation and amortisation
1,758
1,688
1,685
+4.1%
Share-based compensation
133
125
117
+6.4%
Buybacks
1,250
500
0.0
+150.0%
Dividends paid
238
241
235
-0.9%
Dividend per share
$0.60
$0.60
$0.60
0.0%
Diluted shares, weighted
397m
402m
402m
-1.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
21,539
21,350
20,548
+0.9%
Debt
16,627
12,472
14,564
+33.3%
Other liabilities
7,741
7,067
7,740
+9.5%
Total liabilities and equity
45,908
40,889
42,852
+12.3%
Fixed assets
2,578
2,449
2,426
+5.3%
Goodwill
21,328
18,828
18,843
+13.3%
Intangible assets
13,969
12,758
14,110
+9.5%
Investments
n/a
n/a
8.5
Cash and equivalents
786
452
1,344
+73.9%
Receivables
3,048
2,545
2,474
+19.8%
Inventory
2,213
1,992
1,860
+11.1%
Other assets
1,985
1,866
1,788
+6.4%
Total assets
45,908
40,889
42,852
+12.3%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.