Universal (UVV) FY2015 results: revenue $2.3 billion, down 10.6% on the year
Universal Corp. (UVV) reported revenue of $2.3 billion for fiscal 2015, the year ended 31 March 2015, down 10.6% on the year before. Net income was $115 million, down 23.1%, and diluted earnings per share $4.06. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2015.
Revenue
$2.3 billion
-10.6% on the year
FY2009FY2015
Operating margin
7.4%
9.7% a year earlier
FY2009FY2015
Net income
$115 million
-23.1% on the year
FY2009FY2015
Diluted EPS
$4.06
-22.7% on the year
FY2009FY2015
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
2,272
2,542
2,462
-10.6%
Cost of revenue
1,862
2,109
1,999
-11.7%
Gross profit
410
433
462
-5.3%
Gross margin
18.1%
17.0%
18.8%
Selling, general and administrative
250
262
235
-4.5%
Operating income
168
246
223
-31.8%
Operating margin
7.4%
9.7%
9.1%
Interest expense
17.1
20.3
22.0
-15.7%
Pre-tax income
158
231
207
-31.3%
Income tax
38.0
75.5
66.4
-49.7%
Effective tax rate
24.0%
32.7%
32.0%
Net income
115
149
133
-23.1%
Net margin
5.0%
5.9%
5.4%
Diluted EPS
$4.06
$5.25
$4.66
-22.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
227
-3.5
234
Capital expenditure
58.4
45.8
30.8
+27.3%
Free cash flow
169
-49.4
204
Free cash flow margin
7.4%
-1.9%
8.3%
Cash from investing
-54.0
-42.1
-26.2
Cash from financing
-87.0
-158
-102
Depreciation and amortisation
37.3
38.9
45.1
-4.1%
Share-based compensation
6.2
6.3
6.2
-0.8%
Buybacks
31.2
14.1
8.5
+120.8%
Dividends paid
47.3
46.7
46.0
+1.3%
Dividend per share
$2.06
$2.02
$1.98
+2.0%
Diluted shares, weighted
28m
28m
28m
-0.6%
Shares outstanding at period end
23m
23m
23m
-2.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,363
1,378
1,259
-1.1%
Non-controlling interest
34.4
32.7
29.1
+5.2%
Debt
430
419
498
+2.6%
Other liabilities
361
435
521
-16.9%
Total liabilities and equity
2,188
2,265
2,306
-3.4%
Fixed assets
305
297
287
+3.0%
Goodwill
99.1
99.1
98.4
+0.0%
Trading assets
20.7
19.8
19.2
+4.7%
Cash and equivalents
249
164
368
+52.1%
Receivables
434
468
402
-7.2%
Other assets
1,078
1,218
1,132
-11.5%
Total assets
2,186
2,265
2,306
-3.5%
10-K for the year ended 31 March 2015, filed 22 May 2015: the filing.