Dentsply Sirona (XRAY) FY2015 results: revenue $2.7 billion, down 8.5% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $2.7 billion for fiscal 2015, the year ended 31 December 2015, down 8.5% on the year before. Net income was $251 million, down 22.2%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$2.7 billion
-8.5% on the year
FY2008FY2015
Operating margin
14.0%
15.2% a year earlier
FY2008FY2015
Net income
$251 million
-22.2% on the year
FY2008FY2015
Diluted EPS
$1.76
-21.4% 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
2,674
2,923
2,951
-8.5%
Cost of revenue
1,157
1,323
1,373
-12.5%
Gross profit
1,517
1,600
1,577
-5.2%
Gross margin
56.7%
54.7%
53.5%
Research and development
74.9
80.8
85.1
-7.3%
Selling, general and administrative
1,077
1,143
1,145
-5.8%
Operating income
375
446
419
-15.8%
Operating margin
14.0%
15.2%
14.2%
Interest expense
55.9
46.9
49.6
+19.2%
Pre-tax income
330
404
369
-18.5%
Income tax
77.0
81.1
52.1
-5.1%
Effective tax rate
23.4%
20.1%
14.1%
Net income
251
323
313
-22.2%
Net margin
9.4%
11.0%
10.6%
Diluted EPS
$1.76
$2.24
$2.16
-21.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
497
560
418
-11.2%
Capital expenditure
72.0
99.6
100
-27.7%
Free cash flow
425
461
318
-7.7%
Free cash flow margin
15.9%
15.8%
10.8%
Cash from investing
-54.9
-139
-260
Cash from financing
-303
-336
-162
Depreciation and amortisation
123
129
128
-4.8%
Share-based compensation
25.6
25.4
25.1
+0.7%
Buybacks
113
163
118
-30.9%
Dividends paid
40.0
37.3
34.8
+7.2%
Dividend per share
$0.29
$0.27
$0.25
+9.4%
Diluted shares, weighted
142m
144m
145m
-1.2%
Shares outstanding at period end
140m
141m
142m
-0.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,338
2,321
2,535
+0.7%
Non-controlling interest
1.4
0.9
42.9
+55.6%
Debt
1,154
1,263
1,476
-8.6%
Other liabilities
910
1,065
1,024
-14.6%
Total liabilities and equity
4,403
4,650
5,078
-5.3%
Fixed assets
559
589
637
-5.1%
Goodwill
1,988
2,089
2,282
-4.9%
Intangible assets
601
671
795
-10.5%
Cash and equivalents
285
152
75.0
+87.7%
Inventory
340
387
439
-12.1%
Other assets
631
763
850
-17.3%
Total assets
4,403
4,650
5,078
-5.3%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.