Vulcan Materials (VMC) FY2017 results: revenue $3.9 billion, up 8.3% on the year
Vulcan Materials Co. (VMC) reported revenue of $3.9 billion for fiscal 2017, the year ended 31 December 2017, up 8.3% on the year before. Net income was $601 million, up 43.3%, and diluted earnings per share $4.46. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$3.9 billion
+8.3% on the year
FY2010FY2017
Operating margin
16.4%
18.5% a year earlier
FY2010FY2017
Net income
$601 million
+43.3% on the year
FY2010FY2017
Diluted EPS
$4.46
+44.3% 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
3,890
3,593
3,422
+8.3%
Cost of revenue
2,897
2,604
2,565
+11.3%
Gross profit
994
989
858
+0.5%
Gross margin
25.5%
27.5%
25.1%
Selling, general and administrative
325
317
287
+2.6%
Operating income
639
666
550
-4.0%
Operating margin
16.4%
18.5%
16.1%
Interest expense
296
134
221
+120.4%
Pre-tax income
361
547
328
-34.0%
Income tax
-232
125
94.9
Effective tax rate
-64.2%
22.8%
29.0%
Net income
601
419
221
+43.3%
Net margin
15.5%
11.7%
6.5%
Diluted EPS
$4.46
$3.09
$1.64
+44.3%
$ 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
645
645
520
+0.0%
Capital expenditure
460
350
289
+31.2%
Free cash flow
185
294
230
-37.1%
Free cash flow margin
4.8%
8.2%
6.7%
Cash from investing
-1,269
-357
-309
Cash from financing
503
-305
-67.0
Depreciation and amortisation
306
285
275
+7.4%
Share-based compensation
26.6
20.7
18.2
+28.9%
Buybacks
60.3
161
21.5
-62.7%
Dividends paid
132
106
53.2
+24.5%
Dividend per share
$1.00
$0.80
$0.40
+25.0%
Diluted shares, weighted
135m
136m
135m
-0.7%
Shares outstanding at period end
132m
132m
133m
-0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,969
4,572
4,454
+8.7%
Short-term borrowings
0.0
0.0
n/a
Debt
2,855
1,983
1,980
+44.0%
Other liabilities
1,681
1,916
1,867
-12.3%
Total liabilities and equity
9,505
8,471
8,302
+12.2%
Fixed assets
3,919
3,261
3,156
+20.2%
Goodwill
3,122
3,095
3,095
+0.9%
Intangible assets
1,064
769
767
+38.3%
Cash and equivalents
142
259
284
-45.3%
Receivables
434
398
397
+8.9%
Inventory
384
346
347
+11.2%
Other assets
440
343
256
+28.2%
Total assets
9,505
8,471
8,302
+12.2%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.