Universal (UVV) FY2017 results: revenue $2.0 billion, down 3.4% on the year
Universal Corp. (UVV) reported revenue of $2.0 billion for fiscal 2017, the year ended 31 March 2017, down 3.4% on the year before. Net income was $106 million, down 2.5%, and diluted earnings per share $0.88. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2019.
Revenue
$2.0 billion
-3.4% on the year
FY2010FY2017
Operating margin
8.7%
8.6% a year earlier
FY2010FY2017
Net income
$106 million
-2.5% on the year
FY2010FY2017
Diluted EPS
$0.88
-77.6% 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
2,047
2,120
2,272
-3.4%
Cost of revenue
1,677
1,713
1,862
-2.1%
Gross profit
371
407
410
-9.0%
Gross margin
18.1%
19.2%
18.1%
Selling, general and administrative
212
227
250
-6.5%
Operating income
178
182
168
-1.8%
Operating margin
8.7%
8.6%
7.4%
Interest expense
16.3
15.7
17.1
+3.9%
Pre-tax income
169
173
158
-1.9%
Income tax
56.7
54.4
38.0
+4.2%
Effective tax rate
33.5%
31.5%
24.0%
Net income
106
109
115
-2.5%
Net margin
5.2%
5.1%
5.0%
Diluted EPS
$0.88
$3.92
$4.06
-77.6%
$ 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
250
187
227
+34.2%
Capital expenditure
35.6
47.2
58.4
-24.4%
Free cash flow
215
139
169
+54.0%
Free cash flow margin
10.5%
6.6%
7.4%
Cash from investing
-33.9
-50.9
-54.0
Cash from financing
-251
-64.6
-87.0
Depreciation and amortisation
36.0
37.6
37.3
-4.4%
Share-based compensation
6.5
5.2
6.2
+24.4%
Buybacks
0.0
0.0
31.2
Dividends paid
49.8
47.4
47.3
+5.1%
Dividend per share
$2.14
$2.10
$2.06
+1.9%
Diluted shares, weighted
24m
28m
28m
-14.6%
Shares outstanding at period end
25m
23m
23m
+11.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,286
1,414
1,363
-9.0%
Non-controlling interest
40.1
38.8
34.4
+3.2%
Debt
428
435
430
-1.5%
Other liabilities
369
345
361
+6.9%
Total liabilities and equity
2,123
2,233
2,188
-4.9%
Fixed assets
317
326
305
-2.6%
Goodwill
98.8
99.0
99.1
-0.2%
Trading assets
17.7
17.8
20.7
-0.5%
Cash and equivalents
284
319
249
-11.1%
Receivables
439
429
434
+2.5%
Other assets
966
1,042
1,078
-7.3%
Total assets
2,123
2,233
2,186
-4.9%
10-K for the year ended 31 March 2017, filed 24 May 2019: the filing.