Vulcan Materials (VMC) FY2016 results: revenue $3.6 billion, up 5.0% on the year
Vulcan Materials Co. (VMC) reported revenue of $3.6 billion for fiscal 2016, the year ended 31 December 2016, up 5.0% on the year before. Net income was $419 million, up 89.7%, and diluted earnings per share $3.09. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$3.6 billion
+5.0% on the year
FY2009FY2016
Operating margin
18.5%
16.1% a year earlier
FY2009FY2016
Net income
$419 million
+89.7% on the year
FY2009FY2016
Diluted EPS
$3.09
+88.4% 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
3,593
3,422
2,994
+5.0%
Cost of revenue
2,604
2,565
2,407
+1.5%
Gross profit
989
858
588
+15.3%
Gross margin
27.5%
25.1%
19.6%
Selling, general and administrative
317
287
272
+10.4%
Operating income
666
550
538
+21.1%
Operating margin
18.5%
16.1%
18.0%
Interest expense
134
221
243
-39.2%
Pre-tax income
547
328
299
+66.9%
Income tax
125
94.9
91.7
+31.5%
Effective tax rate
22.8%
29.0%
30.7%
Net income
419
221
205
+89.7%
Net margin
11.7%
6.5%
6.8%
Diluted EPS
$3.09
$1.64
$1.54
+88.4%
$ 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
645
520
261
+24.1%
Capital expenditure
350
289
225
+21.0%
Free cash flow
294
230
36.2
+27.9%
Free cash flow margin
8.2%
6.7%
1.2%
Cash from investing
-357
-309
238
Cash from financing
-305
-67.0
-551
Depreciation and amortisation
285
275
279
+3.7%
Share-based compensation
20.7
18.2
23.9
+13.3%
Buybacks
161
21.5
0.0
+651.9%
Dividends paid
106
53.2
28.9
+99.8%
Dividend per share
$0.80
$0.40
$0.22
+100.0%
Diluted shares, weighted
136m
135m
133m
+0.5%
Shares outstanding at period end
132m
133m
132m
-0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,572
4,454
4,177
+2.7%
Short-term borrowings
0.0
n/a
n/a
Debt
1,983
1,980
1,985
+0.1%
Other liabilities
1,916
1,867
1,880
+2.6%
Total liabilities and equity
8,471
8,302
8,041
+2.0%
Fixed assets
3,261
3,156
3,072
+3.3%
Goodwill
3,095
3,095
3,095
0.0%
Intangible assets
769
767
758
+0.3%
Cash and equivalents
259
284
141
-8.8%
Receivables
398
397
355
+0.3%
Inventory
346
347
322
-0.4%
Other assets
343
256
298
+34.3%
Total assets
8,471
8,302
8,041
+2.0%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.