Vulcan Materials (VMC) FY2015 results: revenue $3.4 billion, up 14.3% on the year
Vulcan Materials Co. (VMC) reported revenue of $3.4 billion for fiscal 2015, the year ended 31 December 2015, up 14.3% on the year before. Net income was $221 million, up 7.9%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$3.4 billion
+14.3% on the year
FY2008FY2015
Operating margin
16.1%
18.0% a year earlier
FY2008FY2015
Net income
$221 million
+7.9% on the year
FY2008FY2015
Diluted EPS
$1.64
+6.5% 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
3,422
2,994
2,771
+14.3%
Cost of revenue
2,565
2,407
2,344
+6.6%
Gross profit
858
588
427
+45.9%
Gross margin
25.1%
19.6%
15.4%
Research and development
n/a
n/a
0.0
Selling, general and administrative
287
272
259
+5.3%
Operating income
550
538
190
+2.2%
Operating margin
16.1%
18.0%
6.9%
Interest expense
221
243
203
-9.4%
Pre-tax income
328
299
-3.7
+9.7%
Income tax
94.9
91.7
-24.5
+3.5%
Effective tax rate
29.0%
30.7%
n/a
Net income
221
205
24.4
+7.9%
Net margin
6.5%
6.8%
0.9%
Diluted EPS
$1.64
$1.54
$0.19
+6.5%
$ 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
520
261
356
+99.1%
Capital expenditure
289
225
275
+28.6%
Free cash flow
230
36.2
81.1
+536.9%
Free cash flow margin
6.7%
1.2%
2.9%
Cash from investing
-309
238
-296
Cash from financing
-67.0
-551
-142
Depreciation and amortisation
275
279
307
-1.7%
Share-based compensation
18.2
23.9
22.1
-23.6%
Buybacks
21.5
0.0
0.0
Dividends paid
53.2
28.9
5.2
+84.2%
Dividend per share
$0.40
$0.22
$0.04
+81.8%
Diluted shares, weighted
135m
133m
131m
+1.6%
Shares outstanding at period end
133m
132m
n/a
+1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,454
4,177
3,938
+6.6%
Short-term borrowings
n/a
n/a
0.0
Debt
1,980
1,985
2,522
-0.2%
Other liabilities
1,867
1,880
1,773
-0.7%
Total liabilities and equity
8,302
8,041
8,233
+3.2%
Fixed assets
3,156
3,072
3,312
+2.8%
Goodwill
3,095
3,095
3,082
0.0%
Intangible assets
767
758
698
+1.1%
Cash and equivalents
284
141
194
+101.1%
Receivables
397
355
323
+11.9%
Inventory
347
322
345
+7.9%
Other assets
256
298
280
-14.4%
Total assets
8,302
8,041
8,233
+3.2%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.