Universal (UVV) FY2016 results: revenue $2.1 billion, down 6.7% on the year
Universal Corp. (UVV) reported revenue of $2.1 billion for fiscal 2016, the year ended 31 March 2016, down 6.7% on the year before. Net income was $109 million, down 4.9%, and diluted earnings per share $3.92. The figures are the company's own, from the 10-K it filed with the SEC on 27 May 2016.
Revenue
$2.1 billion
-6.7% on the year
FY2009FY2016
Operating margin
8.6%
7.4% a year earlier
FY2009FY2016
Net income
$109 million
-4.9% on the year
FY2009FY2016
Diluted EPS
$3.92
-3.4% 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
2,120
2,272
2,542
-6.7%
Cost of revenue
1,713
1,862
2,109
-8.0%
Gross profit
407
410
433
-0.7%
Gross margin
19.2%
18.1%
17.0%
Selling, general and administrative
227
250
262
-9.4%
Operating income
182
168
246
+8.2%
Operating margin
8.6%
7.4%
9.7%
Interest expense
15.7
17.1
20.3
-8.5%
Pre-tax income
173
158
231
+8.9%
Income tax
54.4
38.0
75.5
+43.2%
Effective tax rate
31.5%
24.0%
32.7%
Net income
109
115
149
-4.9%
Net margin
5.1%
5.0%
5.9%
Diluted EPS
$3.92
$4.06
$5.25
-3.4%
$ 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
187
227
-3.5
-18.0%
Capital expenditure
47.2
58.4
45.8
-19.2%
Free cash flow
139
169
-49.4
-17.5%
Free cash flow margin
6.6%
7.4%
-1.9%
Cash from investing
-50.9
-54.0
-42.1
Cash from financing
-64.6
-87.0
-158
Depreciation and amortisation
37.6
37.3
38.9
+0.9%
Share-based compensation
5.2
6.2
6.3
-16.4%
Buybacks
0.0
31.2
14.1
Dividends paid
47.4
47.3
46.7
+0.1%
Dividend per share
$2.10
$2.06
$2.02
+1.9%
Diluted shares, weighted
28m
28m
28m
-1.4%
Shares outstanding at period end
23m
23m
23m
+0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,414
1,363
1,378
+3.8%
Non-controlling interest
38.8
34.4
32.7
+13.0%
Debt
435
430
419
+1.1%
Other liabilities
345
361
435
-4.5%
Total liabilities and equity
2,233
2,188
2,265
+2.0%
Fixed assets
326
305
297
+6.7%
Goodwill
99.0
99.1
99.1
-0.1%
Trading assets
17.8
20.7
19.8
-13.9%
Cash and equivalents
319
249
164
+28.4%
Receivables
429
434
468
-1.3%
Other assets
1,042
1,078
1,218
-3.4%
Total assets
2,233
2,186
2,265
+2.1%
10-K for the year ended 31 March 2016, filed 27 May 2016: the filing.