Textron (TXT) FY2017 results: revenue $14.2 billion, up 3.0% on the year
Textron Inc. (TXT) reported revenue of $14.2 billion for fiscal 2017, the year ended 30 December 2017, up 3.0% on the year before. Net income was $307 million, down 68.1%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$14.2 billion
+3.0% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$307 million
-68.1% on the year
FY2010FY2017
Diluted EPS
$1.14
-67.7% 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
14,198
13,788
13,423
+3.0%
Cost of revenue
11,827
11,337
10,979
+4.3%
Gross profit
2,371
2,451
2,444
-3.3%
Gross margin
16.7%
17.8%
18.2%
Research and development
634
677
778
-6.4%
Selling, general and administrative
1,334
1,317
1,304
+1.3%
Operating income
n/a
n/a
971
Operating margin
n/a
n/a
7.2%
Interest expense
174
174
169
0.0%
Pre-tax income
762
876
971
-13.0%
Income tax
456
33.0
273
+1,281.8%
Effective tax rate
59.8%
3.8%
28.1%
Net income
307
962
697
-68.1%
Net margin
2.2%
7.0%
5.2%
Diluted EPS
$1.14
$3.53
$2.50
-67.7%
$ 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
936
925
1,090
+1.2%
Capital expenditure
423
446
420
-5.2%
Free cash flow
513
479
670
+7.1%
Free cash flow margin
3.6%
3.5%
5.0%
Cash from investing
-645
-436
-388
Cash from financing
-360
-168
-504
Depreciation and amortisation
447
449
461
-0.4%
Share-based compensation
77.0
71.0
63.0
+8.5%
Buybacks
582
241
219
+141.5%
Dividends paid
21.0
22.0
22.0
-4.5%
Dividend per share
$0.08
$0.08
$0.08
0.0%
Diluted shares, weighted
269m
272m
279m
-1.3%
Shares outstanding at period end
261m
270m
274m
-3.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,647
5,574
4,964
+1.3%
Other liabilities
9,693
9,784
9,744
-0.9%
Total liabilities and equity
15,340
15,358
14,708
-0.1%
Fixed assets
2,721
2,581
2,492
+5.4%
Intangible assets
765
767
783
-0.3%
Cash and equivalents
1,262
1,298
1,005
-2.8%
Inventory
4,150
4,464
4,144
-7.0%
Other assets
6,442
6,248
6,284
+3.1%
Total assets
15,340
15,358
14,708
-0.1%
10-K for the year ended 30 December 2017, filed 15 February 2018: the filing.