Vertex Pharmaceuticals (VRTX) FY2016 results: revenue $1.7 billion, up 64.9% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $1.7 billion for fiscal 2016, the year ended 31 December 2016, up 64.9% on the year before. Net income was -$112 million, and diluted earnings per share $-0.46. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$1.7 billion
+64.9% on the year
FY2009FY2016
Operating margin
0.6%
-45.2% a year earlier
FY2009FY2016
Net income
-$112 million
FY2009FY2016
Diluted EPS
-$0.46
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
1,702
1,032
580
+64.9%
Cost of revenue
210
117
39.7
+79.6%
Gross profit
1,492
915
541
+63.0%
Gross margin
87.6%
88.7%
93.2%
Research and development
1,048
996
856
+5.2%
Selling, general and administrative
433
377
305
+14.9%
Operating income
9.9
-467
-692
Operating margin
0.6%
-45.2%
-119.3%
Pre-tax income
-67.4
-558
-735
Income tax
16.7
30.4
7.0
-45.1%
Net income
-112
-556
-739
Net margin
-6.6%
-53.9%
-127.2%
Diluted EPS
-$0.46
-$2.31
-$3.14
$ 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
236
-365
-573
Capital expenditure
56.6
45.3
51.2
+24.9%
Free cash flow
180
-411
-624
Free cash flow margin
10.5%
-39.8%
-107.6%
Cash from investing
51.2
269
n/a
-80.9%
Cash from financing
133
189
n/a
-29.5%
Depreciation and amortisation
61.4
62.3
63.3
-1.5%
Share-based compensation
241
231
178
+4.2%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
245m
241m
235m
+1.4%
Shares outstanding at period end
248m
246m
242m
+0.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,157
940
1,075
+23.0%
Non-controlling interest
182
154
21.2
+18.2%
Debt
300
295
295
+1.6%
Other liabilities
1,259
1,110
944
+13.4%
Total liabilities and equity
2,897
2,499
2,335
+15.9%
Fixed assets
698
698
716
+0.1%
Goodwill
50.4
50.4
39.9
0.0%
Investments
251
328
762
-23.5%
Cash and equivalents
1,184
715
625
+65.6%
Receivables
200
174
76.0
+15.3%
Inventory
77.6
57.2
30.8
+35.7%
Other assets
436
477
85.0
-8.7%
Total assets
2,897
2,499
2,335
+15.9%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.