Dentsply Sirona (XRAY) FY2017 results: revenue $4.0 billion, up 6.6% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $4.0 billion for fiscal 2017, the year ended 31 December 2017, up 6.6% on the year before. Net income was -$1.6 billion, and diluted earnings per share $-6.76. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$4.0 billion
+6.6% on the year
FY2010FY2017
Operating margin
-39.1%
12.1% a year earlier
FY2010FY2017
Net income
-$1.6 billion
FY2010FY2017
Diluted EPS
-$6.76
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
3,993
3,745
2,674
+6.6%
Cost of revenue
1,805
1,744
1,157
+3.5%
Gross profit
2,188
2,001
1,517
+9.4%
Gross margin
54.8%
53.4%
56.7%
Research and development
152
128
74.9
+18.1%
Selling, general and administrative
1,675
1,523
1,077
+10.0%
Operating income
-1,562
455
375
Operating margin
-39.1%
12.1%
14.0%
Interest expense
38.3
35.9
55.9
+6.7%
Pre-tax income
-1,604
441
330
Income tax
-53.2
9.5
77.0
Effective tax rate
n/a
2.2%
23.4%
Net income
-1,550
430
251
Net margin
-38.8%
11.5%
9.4%
Diluted EPS
-$6.76
$1.94
$1.76
$ 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
602
563
497
+6.8%
Capital expenditure
144
125
72.0
+15.4%
Free cash flow
458
438
425
+4.4%
Free cash flow margin
11.5%
11.7%
15.9%
Cash from investing
-286
60.0
-54.9
Cash from financing
-401
-526
-303
Depreciation and amortisation
316
272
123
+16.5%
Share-based compensation
48.0
41.3
25.6
+16.2%
Buybacks
401
814
113
-50.7%
Dividends paid
78.3
64.6
40.0
+21.2%
Dividend per share
$0.35
$0.31
$0.29
+12.9%
Diluted shares, weighted
229m
222m
142m
+3.5%
Shares outstanding at period end
227m
230m
140m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,616
8,114
2,338
-18.5%
Non-controlling interest
11.6
11.6
1.4
0.0%
Debt
1,642
1,528
1,154
+7.4%
Other liabilities
2,105
1,902
910
+10.7%
Total liabilities and equity
10,374
11,556
4,403
-10.2%
Fixed assets
876
800
559
+9.5%
Goodwill
4,539
5,952
1,988
-23.7%
Intangible assets
2,801
2,958
601
-5.3%
Cash and equivalents
321
384
285
-16.5%
Inventory
623
517
340
+20.5%
Other assets
1,215
945
631
+28.5%
Total assets
10,374
11,556
4,403
-10.2%
10-K for the year ended 31 December 2017, filed 2 March 2020: the filing.