VVV FY 2016 Earnings Report — Valvoline Inc. Revenue & Financial Results | Market Cap Arena

Valvoline Inc.VVV

FY 2016 Earnings

Reported December 19, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$1.9B	—	$2.0B	—	-1.9%
Op. Income	$431M	—	$323M	—	33.4%
Gross Margin	39.5%	—	34.8%	—	4.6pp
Net Margin	14.2%	—	10.0%	—	4.2pp
EPS (Diluted)	$1.60	—	$0.98	—	63.3%
Free Cash Flow	$245M	—	$285M	—	-14.0%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.2B
GROSS PROFIT	$761M
R&D Expenses	$13M
Selling & Marketing	$58M
General & Administrative	$212M
SG&A Expenses	$270M
Other Expenses	$0
Operating Expenses	$342M
Cost & Expenses	$1.5B
OPERATING INCOME	$431M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$421M
Income Tax Expense	$148M
Net Income from Continuing Ops	$273M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$273M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$273M
D&A	$38M
EBIT	$419M
EBITDA	$457M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.2B
GROSS PROFIT	$761M
R&D Expenses	$13M
Selling & Marketing	$58M
General & Administrative	$212M
SG&A Expenses	$270M
Other Expenses	$0
Operating Expenses	$342M
Cost & Expenses	$1.5B
OPERATING INCOME	$431M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$421M
Income Tax Expense	$148M
Net Income from Continuing Ops	$273M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$273M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$273M
D&A	$38M
EBIT	$419M
EBITDA	$457M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$273M
Depreciation & Amortization	$38M
Stock-Based Compensation	$0
Deferred Income Tax	$13M
Other Non-Cash Items	-$35M
Change in Working Capital	$22M
OPERATING CASH FLOW	$311M
Capital Expenditure	-$66M
Acquisitions (Net)	-$83M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$148M
Net Debt Issuance	$735M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$1.4B
NET CASH FROM FINANCING	$10M
FREE CASH FLOW	$245M
Net Change in Cash	$172M

Balance Sheet

Item	Amount
Cash & Equivalents	$172M
Short-Term Investments	$0
Net Receivables	$363M
Inventory	$139M
Other Current Assets	$56M
TOTAL CURRENT ASSETS	$730M
PP&E (Net)	$324M
Goodwill	$264M
Intangible Assets	$3M
Long-Term Investments	$60M
Tax Assets	$389M
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.8B
Account Payables	$177M
Short-Term Debt	$19M
Deferred Revenue	$0
Other Current Liabilities	$160M
TOTAL CURRENT LIABILITIES	$400M
Long-Term Debt	$724M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$1.0B
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$2.2B
Common Stock	$2M
Additional Paid-In Capital	$710M
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	-$1.0B
TOTAL STOCKHOLDERS' EQUITY	-$330M
Minority Interest	$0
TOTAL EQUITY	-$330M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$749M
Net Debt	$577M