United Therapeutics (UTHR) FY2015 results: revenue $1.5 billion, up 13.8% on the year
United Therapeutics Corp. (UTHR) reported revenue of $1.5 billion for fiscal 2015, the year ended 31 December 2015, up 13.8% on the year before. Net income was $652 million, up 91.6%, and diluted earnings per share $12.72. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$1.5 billion
+13.8% on the year
FY2008FY2015
Operating margin
47.7%
41.8% a year earlier
FY2008FY2015
Net income
$652 million
+91.6% on the year
FY2008FY2015
Diluted EPS
$12.72
+102.5% 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
1,466
1,289
1,117
+13.8%
Cost of revenue
69.0
126
131
-45.2%
Gross profit
1,397
1,154
976
+21.1%
Gross margin
95.3%
89.5%
87.4%
Research and development
245
243
299
+1.1%
Selling, general and administrative
453
381
394
+18.7%
Operating income
699
539
292
+29.7%
Operating margin
47.7%
41.8%
26.2%
Interest expense
4.7
17.6
18.1
-73.3%
Pre-tax income
1,044
525
279
+98.9%
Income tax
393
185
104
+112.2%
Effective tax rate
37.6%
35.2%
37.4%
Net income
652
340
175
+91.6%
Net margin
44.5%
26.4%
15.6%
Diluted EPS
$12.72
$6.28
$3.28
+102.5%
$ 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
383
355
425
+7.7%
Capital expenditure
49.8
47.4
31.9
+5.0%
Free cash flow
333
308
393
+8.2%
Free cash flow margin
22.7%
23.9%
35.2%
Cash from investing
504
n/a
n/a
Cash from financing
-447
n/a
n/a
Depreciation and amortisation
32.9
32.2
31.3
+2.1%
Share-based compensation
280
190
321
+47.5%
Buybacks
394
483
42.4
-18.3%
Diluted shares, weighted
51m
54m
53m
-5.4%
Shares outstanding at period end
46m
47m
50m
-2.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,589
1,242
1,259
+27.9%
Redeemable equity
11.1
23.2
45.0
-52.2%
Debt
n/a
126
282
Other liabilities
585
492
501
+18.8%
Total liabilities and equity
2,184
1,884
2,088
+15.9%
Fixed assets
496
478
465
+3.6%
Goodwill
10.3
10.3
10.7
+0.4%
Intangible assets
2.6
3.7
3.4
-29.4%
Investments
38.0
123
448
-69.1%
Cash and equivalents
832
398
284
+109.2%
Receivables
193
162
126
+18.8%
Inventory
81.3
66.9
47.8
+21.5%
Other assets
532
642
702
-17.2%
Total assets
2,184
1,884
2,088
+15.9%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.