Tyson Foods (TSN) FY2017 results: revenue $38.3 billion, up 3.7% on the year
Tyson Foods, Inc. (TSN) reported revenue of $38.3 billion for fiscal 2017, the year ended 30 September 2017, up 3.7% on the year before. Net income was $1.8 billion, up 0.3%, and diluted earnings per share $4.79. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2018.
Revenue
$38.3 billion
+3.7% on the year
FY2010FY2017
Operating margin
7.6%
7.7% a year earlier
FY2010FY2017
Net income
$1.8 billion
+0.3% on the year
FY2010FY2017
Diluted EPS
$4.79
+5.7% 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
38,260
36,881
41,373
+3.7%
Cost of revenue
33,177
32,184
37,456
+3.1%
Gross profit
5,062
4,697
3,917
+7.8%
Gross margin
13.2%
12.7%
9.5%
Research and development
113
96.0
75.0
+17.7%
Selling, general and administrative
2,141
1,864
1,748
+14.9%
Operating income
2,921
2,833
2,169
+3.1%
Operating margin
7.6%
7.7%
5.2%
Pre-tax income
2,628
2,598
1,921
+1.2%
Income tax
850
826
697
+2.9%
Effective tax rate
32.3%
31.8%
36.3%
Net income
1,774
1,768
1,220
+0.3%
Net margin
4.6%
4.8%
2.9%
Diluted EPS
$4.79
$4.53
$2.95
+5.7%
$ 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
2,599
2,716
2,570
-4.3%
Capital expenditure
1,069
695
854
+53.8%
Free cash flow
1,530
2,021
1,716
-24.3%
Free cash flow margin
4.0%
5.5%
4.1%
Cash from investing
-4,164
-684
-270
Cash from financing
1,530
-2,377
-2,035
Depreciation and amortisation
748
697
701
+7.3%
Share-based compensation
92.0
81.0
69.0
+13.6%
Buybacks
860
1,944
495
-55.8%
Dividends paid
319
216
147
+47.7%
Diluted shares, weighted
370m
390m
413m
-5.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
10,541
9,608
9,691
+9.7%
Non-controlling interest
18.0
16.0
15.0
+12.5%
Debt
10,203
6,279
6,690
+62.5%
Other liabilities
7,304
6,470
6,608
+12.9%
Total liabilities and equity
28,066
22,373
23,004
+25.4%
Fixed assets
5,568
5,170
5,176
+7.7%
Goodwill
9,324
6,669
6,667
+39.8%
Intangible assets
6,243
5,084
5,168
+22.8%
Cash and equivalents
318
349
688
-8.9%
Receivables
1,675
1,542
1,620
+8.6%
Inventory
3,239
2,732
2,878
+18.6%
Other assets
1,699
827
807
+105.4%
Total assets
28,066
22,373
23,004
+25.4%
10-K for the year ended 30 September 2017, filed 13 November 2018: the filing.