FGEN

Market cap $4.7155B
Enterprise value $3.9932B
Employees 364
Revenue $115M
EBITDA -$124M
Income -$138M
EPS -2.02
P/E N/A
Forward P/E -58.67
EV/EBITDA -32.21
PEG N/A
Earnings date 2018-02-27
Volume 363k / 586k
Relative vol. 0.62 ×
Profit margin -120.00%
Oper. margin -113.04%
Gross margin 156.06%
Sales Q/Q -14.54%
Sales Y/Y 15.36%
Est. EPS Q/Q N/A
Beta 1.97
Mean Recomm. 1.60
IPO year 2014
Country United States
RSI 41.90
Range $55.15 – $57.65
52 weeks $22.75 – $63.00
SMA 50 $53 -7.42%
SMA 200 $50 -12.79%
1 year target $69 +20.00%

Intraday

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All time

Recent FibroGen news

Friday, 23 February 2018
markit
See what the IHS Markit Score report has to say about FibroGen Inc.
Wednesday, 21 February 2018
+1.63%
globenewswire
FibroGen to Report Fourth Quarter and Full Year 2017 Financial Results on Tuesday, February 27, 2018
Saturday, 17 February 2018
simplywall.st
Why FibroGen Inc Is A Financially Healthy Company
Thursday, 4 January 2018
-5.64%
globenewswire
Report: Exploring Fundamental Drivers Behind K2M Group, Altra Industrial Motion, FibroGen, Cardiovascular, Bluerock Residential Growth REIT, and National Presto Industries — New Horizons, Emerging Trends, and Upcoming Developments
Wednesday, 15 November 2017
+3.56%
accesswire
Corporate News Blog - Protalix BioTherapeutics Gets Positive Opinion for Orphan Designation of PRX-102 for Treatment of Fabry Disease in EU
Tuesday, 14 November 2017
-2.82%
accesswire
Featured Company News - FDA Approved Teligent's Betamethasone Dipropionate Ointment USP , 0.05%
Friday, 10 November 2017
-1.00%
nasdaq
Relative Strength Alert For FibroGen
Thursday, 9 November 2017
-8.96%
nasdaq
OTIC Data Music To Ears, Apellis IPO Opens Today, CAPR High On HOPE
Wednesday, 8 November 2017
+0.09%
ap
FibroGen reports 3Q loss
reuters
Fibrogen Inc reports Q3 loss per share $0.50
globenewswire
FibroGen Reports Third Quarter 2017 Financial Results
accesswire
FibroGen, Inc. to Host Earnings Call
nasdaq
Commit To Buy FibroGen At $40, Earn 13.5% Annualized Using Options
simplywall.st
Is It Too Late To Buy FibroGen Inc ?
Monday, 6 November 2017
-0.53%
nasdaq
Implied FBT Analyst Target Price: $156
Monday, 30 October 2017
+1.48%
globenewswire
FibroGen to Report Third Quarter Financial Results on Wednesday, November 8, 2017
Thursday, 19 October 2017
-0.18%
seekingalpha
Your Daily Pharma Scoop: Gilead's Brave New World, AZN's Lynparza SNDA, RXDX ...
bloomberg
Hedge Fund Stars Are Losing Their Sway
Wednesday, 18 October 2017
-1.70%
realmoney.thestreet
Spectrum Shares Surge on Data for Lung Cancer Drug -- Biotech Movers
reuters
Fibrogen announces acceptance by china FDA of roxadustat NDA for treatment of anemia associated with dialysis and non-dialysis kidney disease
globenewswire
FibroGen Announces Acceptance by China FDA of Roxadustat New Drug Application for Treatment of Anemia Associated With Dialysis and Non-Dialysis Chronic Kidney Disease
Tuesday, 10 October 2017
+0.27%
yahoo video
Cramer's lightning round: Let Nike walk these losses off
Monday, 2 October 2017
+4.12%
investopedia
3 Under-the-Radar Small Cap Gems
Saturday, 30 September 2017
simplywall.st
FibroGen Inc : How Does It Impact Your Portfolio?
Tuesday, 19 September 2017
+1.13%
globenewswire
FibroGen Appoints Gerald Lema to Board of Directors
Wednesday, 13 September 2017
+3.61%
investors
Why This Cancer Biotech Leads Pack After Hitting Record High
globenewswire
Fibrogen Presents Latest Data From Phase 2b Study of Pamrevlumab in Idiopathic Pulmonary Fibrosis at European Respiratory Society International Congress 2017
nasdaq
Fibrogen Presents Latest Data From Phase 2b Study of Pamrevlumab in Idiopathic ...
Tuesday, 5 September 2017
-1.53%
globenewswire
FibroGen Announces Pamrevlumab Oral and Poster Presentations at European Respiratory Society International Congress 2017
nasdaq
FibroGen Announces Pamrevlumab Oral and Poster Presentations at European ...
Thursday, 17 August 2017
+0.37%
thestreet
Biotech Movers: Red Hill Jumps After Securing Rights Sell GERD Treatment
Tuesday, 15 August 2017
-3.84%
globenewswire
FibroGen, Inc. Announces Pricing of Follow-On Offering of Common Stock
reuters
Fibrogen announces pricing of follow-on offering of common stock
Monday, 14 August 2017
+4.38%
globenewswire
FibroGen, Inc. Announces Proposed Follow-On Offering of Common Stock
reuters
FibroGen announces proposed follow-on offering of common stock
Wednesday, 9 August 2017
-11.82%
nasdaq
FibroGen Reaches Analyst Target Price
nasdaq
Strength Seen in FibroGen : Stock Soars 48.2%
Tuesday, 8 August 2017
-1.79%
fool
Why FibroGen Inc Skyrocketed Higher Today
nasdaq
BUZZ-US STOCKS ON THE MOVE-Depomed, Gray Television, Cutera, Airgain, Time Inc
nasdaq
Mid-Afternoon Market Update: Michael Kors Gains On Earnings Beat; Commercial ...
nasdaq
Why Did FibroGen Stock Hit All-Time High Today?
nasdaq
Mid-Day ETF Update: ETFs, Stocks Surge Higher as Dow, S&P 500 Hit Record Highs ...
nasdaq
Mid-Day Market Update: Stocks Turn Higher; Depomed Shares Plummet
marketwatch
FibroGen shares surge 49% on positive mid-stage trial for pulmonary fibrosis ...
nasdaq
BUZZ-US STOCKS ON THE MOVE-Michael Kors, Ralph Lauren, Gartner, FibroGen
nasdaq
BUZZ-US STOCKS ON THE MOVE-Valeant, Michael Kors, FibroGen, Ralph Lauren
nasdaq
Pre-Market Most Active for Aug 8, 2017 : VRX, ENDP, TEVA, ABB, FGEN, QQQ, INVA ...
nasdaq
BUZZ-US STOCKS ON THE MOVE-LendingClub, Twilio, Tenet, Endo, Depomed
Monday, 7 August 2017
-4.30%
reuters
Fibrogen ‍net loss per diluted share for quarter ended June 30 was $0.48
reuters
Fibrogen Inc reports Q2 loss per share $0.48
Thursday, 3 August 2017
-0.86%
zacks
Should You Buy FibroGen Ahead of Earnings? August 03, 2017
Friday, 21 July 2017
+0.58%
thestreet
Teligent Shares Rise on FDA Approval for Erythromycin Topical Gel
Wednesday, 19 July 2017
-0.86%
thestreet
Biotech Movers: Vertex Continues to Move on Data for CF Regimen
Wednesday, 5 July 2017
+4.46%
seekingalpha
Revisiting Akebia Therapeutics
Monday, 26 June 2017
-1.06%
thestreet
Biotech Movers: Seattle Genetics, FibroGen, Sangamo
Thursday, 22 June 2017
+2.05%
nasdaq
FibroGen's Pamrevlumab Gets Orphan Drug Designation To Treat Pancreatic Cancer
Monday, 5 June 2017
+4.17%
reuters
BRIEF-Fibrogen Inc says ‍European patent office maintains patent relating to ...
reuters
Fibrogen Inc says ‍European patent office maintains patent relating to HIF technology
Thursday, 6 April 2017
+6.02%
fool
Why FibroGen Inc Popped Higher Today
reuters
Fibrogen reports pricing of follow-on offering of common stock
Friday, 31 March 2017
-0.60%
reuters
Fibrogen wins China clearance to conduct key study testing roxadustat
Thursday, 30 March 2017
-2.36%
reuters
Positive results published in nephrology dialysis transplantation from two China phase 2 trials
Wednesday, 1 March 2017
+0.79%
reuters
Fibrogen reports fiscal 2016 financial results
Tuesday, 8 November 2016
-2.15%
reuters
Fibrogen reports Q3 loss per share $0.38
Monday, 8 August 2016
-2.31%
reuters
Fibrogen reports Q2 EPS of $0.39
Friday, 8 July 2016
+1.66%
reuters
Fibrogen announces receipt of $62 million license payment from Astrazeneca
Monday, 9 May 2016
+4.56%
reuters
Fibrogen Q1 loss per share $0.45
Tuesday, 16 February 2016
+1.98%
reuters
FibroGen Inc publishes phase 2 anemia data for roxadustat
Monday, 27 July 2015
+0.80%
reuters
FibroGen receives FDA clearance to proceed with Clinical Study of FG-3019
Tuesday, 20 November 2012
marketwatch
46.88
Date
#
Company
Insider Title
Trans.
Transaction
Shares Price per share Total price Shares after Source
2018-02-15 Kalevi Kurkijarvi
Director
Director Option exercise 6,000 $2.90 $17,400
2018-02-15
26,000
2018-02-14 Jorma Routti
Director
Director Option exercise 12,000 $3.50 $42,000
2018-02-14
133,840
2018-02-08 K Peony Yu
Chief Medical Officer
Chief Medical Officer Sale 7,500 $53.97 $404,775
2018-02-08
144,586
2018-01-29 K Peony Yu
Chief Medical Officer
Chief Medical Officer Sale 10,000 $62.00 $620,000
2018-01-29
152,086
2018-01-29 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $61.40 $2,372,250
2018-01-29
124,170
2018-01-26 Roberto Pedro Rosenkranz
Director
Director Sale 6,000 $60.00 $360,000
2018-01-26
29,000
2018-01-22 Roberto Pedro Rosenkranz
Director
Director Sale 2,000 $50.00 $100,000
2018-01-22
35,000
2018-01-22 Pat Cotroneo
VP, Finance and CFO
VP, Finance and CFO Option exercise 25,000 $18.00 $450,000
2018-01-22
208,852
2018-01-18 Roberto Pedro Rosenkranz
Director
Director Sale 6,000 $47.45 $284,700
2018-01-18
37,000
2018-01-18 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $47.46 $1,833,665
2018-01-18
125,006
2018-01-18 Kalevi Kurkijarvi
Director
Director Option exercise 6,000 $2.90 $17,400
2018-01-18
28,000
2018-01-04 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $47.61 $1,839,460
2018-01-04
125,842
2017-12-28 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $48.39 $1,869,596
2017-12-28
126,678
2017-12-20 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Option exercise 80,000 $3.26 $260,800
2017-12-20
3,091,105
2017-12-18 Kalevi Kurkijarvi
Director
Director Sale 2,000 $42.80 $85,600
2017-12-18
22,000
2017-12-14 K Peony Yu
Chief Medical Officer
Chief Medical Officer Sale 2,851 $43.70 $124,589
2017-12-14
162,086
2017-12-14 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $42.19 $1,630,053
2017-12-14
128,350
2017-12-12 Kalevi Kurkijarvi
Director
Director Option exercise 12,000 $2.90 $34,800
2017-12-12
36,000
2017-12-11 Pat Cotroneo
VP, Finance and CFO
VP, Finance and CFO Sale 2,851 $46.00 $131,146
2017-12-11
183,852
2017-12-04 Gerald Lema
Director
Director Buy 3,500 $46.70 $163,450
2017-12-04
3,500
2017-11-30 Jorma Routti
Director
Director Option exercise 12,000 $2.90 $34,800
2017-11-30
133,840
2017-11-17 Kalevi Kurkijarvi
Director
Director Sale 2,000 $46.65 $93,300
2017-11-17
24,000
2017-11-16 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $46.63 $1,801,597
2017-11-16
129,186
2017-11-15 Thomas F Jr Kearns
Director
Director Option exercise 18,000 $2.35 $42,300
2017-11-15
156,564
2017-11-09 Pat Cotroneo
VP, Finance and CFO
VP, Finance and CFO Option exercise 32,407 $2.90 $93,980
2017-11-09
189,812
2017-11-06 K Peony Yu
Chief Medical Officer
Chief Medical Officer Sale 7,500 $55.37 $415,275
2017-11-06
168,046
2017-10-30 Thomas B Neff
Chief Executive Officer
Chief Executive Officer Sale 38,636 $56.13 $2,168,639
2017-10-30
130,022

Notable SEC filings of FibroGen, Inc

Date Contents
Source
2017-11-08 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2017-11-01 8-K Other Events; Financial Statements and Exhibits
2017-10-18 8-K Other Events; Financial Statements and Exhibits
2017-09-19 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits
2017-09-13 8-K Other Events; Financial Statements and Exhibits
2017-08-16 8-K Other Events; Financial Statements and Exhibits
2017-08-14 8-K Other Events; Financial Statements and Exhibits
2017-08-07 10-Q Quarterly report
2017-08-07 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2017-06-09 8-K Submission of Matters to a Vote of Security Holders
2017-05-09 10-Q Quarterly report
2017-05-09 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2017-04-06 8-K Other Events; Financial Statements and Exhibits
2017-03-31 8-K Other Events; Financial Statements and Exhibits
2017-03-02 8-K Entry into a Material Definitive Agreement
2017-03-01 10-K Yearly report
2017-03-01 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2017-02-16 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-01-30 8-K Other Events; Financial Statements and Exhibits
2016-11-15 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
2016-11-08 10-Q Quarterly report
2016-11-08 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2016-08-08 10-Q Quarterly report
2016-08-08 8-K Results of Operations and Financial Condition; Financial Statements and Exhibits
2016-07-26 8-K Other Events; Financial Statements and Exhibits
2016-06-10 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Submission of Matters to a Vote of Security Holders; Financial Statements and Exhibits
Neutral Mizuho 4 October 2017
Buy → Neutral
Goldman Sachs 20 July 2017
Buy → Neutral
Goldman 20 July 2017
Buy Jefferies 10 July 2017

FibroGen executives

Insider Title Age Since Compensation
Thomas Neff (62)
Chairman of the Board, Chief Executive Officer, Founder
Chairman of the Board, Chief Executive Officer, Founder 62 $5,242,290
K. Peony Yu (54)
Chief Medical Officer since 2016
Chief Medical Officer 54 2016 $2,096,520
Pat Cotroneo (53)
Chief Financial Officer, Vice President - Finance since 2008
Chief Financial Officer, Vice President - Finance 53 2008 $2,061,300
Frank Valone (66)
Senior Fellow, Clinical Development since 2016
Senior Fellow, Clinical Development 66 2016 $733,633
James Schoeneck (59)
Independent Director since 2013
Independent Director 59 2013 $202,965
Rory Riggs (64)
Independent Director since 2013
Independent Director 64 2013 $202,965
Julian Stern (92)
Independent Director since 2013
Independent Director 92 2013 $195,465
Thomas Kearns (80)
Independent Director since 2016
Independent Director 80 2016 $195,465
Roberto Rosenkranz (67)
Independent Director since 2010
Independent Director 67 2010 $190,465
Kalevi Kurkijarvi (65)
Independent Director since 2013
Independent Director 65 2013 $187,965
Jeffrey Henderson (52)
Independent Director since 2015
Independent Director 52 2015 $187,965
Jeffrey Edwards (56)
Independent Director since 2015
Independent Director 56 2015 $187,965
Jorma Routti (78)
Independent Director since 2013
Independent Director 78 2013 $185,465
Toshinari Tamura (73)
Independent Director since 2013
Independent Director 73 2013 $182,965
Gerald Lema
Director since 2017
Director 2017
FibroGen, Inc logo

FibroGen, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs in the United States. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200 for the treatment of corneal blindness resulting from partial thickness corneal damage. It has collaboration agreements with Astellas Pharma Inc. and AstraZeneca AB. The company was incorporated in 1993 and is headquartered in San Francisco, California.

  • FibroGen, Inc, 409 Illinois Street, San Francisco 94158, United States
  • fibrogen.com
  • 415-978-1200

Quarterly EPS estimates

Profit margin

Debt to assets

Cash flow

Balance sheet

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Current assets
Cash $651.373 $290.277 $170.598 $173.782
Short term investments $78.599 $69.121 $72.824 $79.397
Net receivables $8.628 $8.933 $7.248 $10.448
Inventory
Other current assets $2.856 $3.013 $5.911 $2.889
Total current assets $741.456 $371.344 $256.581 $266.516
Long term investments $16.767 $39.204 $53.155 $71.01
Property, plant & equipment $126.643 $122.591 $122.818 $123.657
Goodwill
Intangible assets
Other assets $10.026 $9.499 $9.202 $8.369
Deferred long term asset charges
Total assets $894.892 $542.638 $441.756 $469.552
Current liabilities
Accounts payable $60.524 $51.795 $52.129 $57.137
Short long term debt
Other current liabilities $7.974 $7.979 $7.984 $7.988
Total current liabilities $68.498 $59.774 $60.113 $65.125
Long term debt $97.37 $97.451 $97.536 $97.352
Other liabilities $23.612 $22.529 $20.992 $21.045
Deferred long term liabilities $114.643 $113.515 $112.143 $110.921
Minority interest $19.271 $19.271 $19.271 $19.271
Total liabilities $323.394 $312.54 $310.055 $313.714
Stockholders' equity
Stock option warrants
Common stock $0.818 $0.71 $0.644 $0.637
Retained earnings -$573.823 -$536.086 -$502.903 -$469.742
Treasury stock
Capital surplus $1,146.112 $766.861 $634.98 $625.903
Other stockholder equity -$1.609 -$1.387 -$1.02 -$0.96
Total stockholder equity $571.498 $230.098 $131.701 $155.838
Net tangible assets $571.498 $230.098 $131.701 $155.838
(in millions) 2016 2015 2014
Current assets
Cash $173.782 $153.324 $165.455
Short term investments $79.397 $27.847 $14.364
Net receivables $10.448 $15.405 $13.453
Inventory
Other current assets $2.889 $3.988 $4.966
Total current assets $266.516 $200.564 $198.238
Long term investments $71.01 $131.72 $144.269
Property, plant & equipment $123.657 $129.02 $132.171
Goodwill
Intangible assets
Other assets $8.369 $9.27 $8.85
Deferred long term asset charges
Total assets $469.552 $470.574 $483.528
Current liabilities
Accounts payable $57.137 $54.453 $53.536
Short long term debt
Other current liabilities $7.988 $12.728 $9.218
Total current liabilities $65.125 $67.181 $62.754
Long term debt $97.352 $97.042 $96.818
Other liabilities $21.045 $19.692 $17.161
Deferred long term liabilities $110.921 $89.834 $66.119
Minority interest $19.271 $19.271 $19.271
Total liabilities $313.714 $293.02 $262.123
Stockholders' equity
Stock option warrants
Common stock $0.637 $0.62 $0.59
Retained earnings -$469.742 -$408.062 -$322.283
Treasury stock
Capital surplus $625.903 $586.647 $546.247
Other stockholder equity -$0.96 -$1.651 -$3.149
Total stockholder equity $155.838 $177.554 $221.405
Net tangible assets $155.838 $177.554 $221.405

Income statement

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Revenue
Total revenue $27.272 $28.997 $26.891 $31.912
Cost of revenue
Gross profit $27.272 $28.997 $26.891 $31.912
Operating expenses
Research & development $50.336 $46.981 $46.732 $50.607
Selling, general & administrative $12.953 $13.425 $11.53 $12.585
Non-recurring
Other operating expenses
Total operating expenses
Operating income -$36.017 -$31.409 -$31.371 -$31.28
Income from continuing operations
Net other income $1.106 $1.032 $0.645 $0.217
EBIT -$34.911 -$30.377 -$30.726 -$31.063
Interest expense $2.769 $2.757 $2.375 $2.75
Income before tax -$37.68 -$33.134 -$33.101 -$33.813
Income tax expense $0.057 $0.049 $0.06 $0.189
Minority interest $19.271 $19.271 $19.271 $19.271
Net income from continuing ops -$37.737 -$33.183 -$33.161 -$34.002
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA -$37.737 -$33.183 -$33.161 -$34.002
Income (for common shares) -$37.737 -$33.183 -$33.161 -$34.002
(in millions) 2016 2015 2014
Revenue
Total revenue $179.577 $180.828 $137.601
Cost of revenue
Gross profit $179.577 $180.828 $137.601
Operating expenses
Research & development $187.206 $214.089 $150.794
Selling, general & administrative $46.025 $44.364 $36.909
Non-recurring
Other operating expenses
Total operating expenses
Operating income -$53.654 -$77.625 -$50.102
Income from continuing operations
Net other income $2.628 $3.121 $1.706
EBIT -$51.026 -$74.504 -$48.396
Interest expense $10.725 $11.033 $11.108
Income before tax -$61.751 -$85.537 -$59.504
Income tax expense -$0.071 $0.242
Minority interest $19.271 $19.271 $19.271
Net income from continuing ops -$61.68 -$85.779 -$59.504
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA -$61.68 -$85.779 -$59.504
Income (for common shares) -$61.68 -$85.779 -$59.504

Cash flow

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Net income -$37.737 -$33.183 -$33.161 -$34.002
Operating activities
Depreciation $1.949 $1.998 $2.138 $2.169
Net income adjustments $9.591 $9.504 $8.376 $8.472
Change in accounts receivable $0.305 -$1.685 $3.2 -$2.756
Changes in liabilities $7.828 $1.086 -$3.912 $6.655
Changes in inventory
Changes in other operating activities -$0.37 $2.522 -$3.776 $0.917
Total cash flow from operations -$18.434 -$19.758 -$27.135 -$18.545
Investing activities
Capital expenditures -$3.38 -$0.976 -$0.636 -$0.146
Investments $12.921 $17.896 $24.039 -$8.969
Other cash flows from investing $0.005 $0.005
Total cash flows from investing $9.541 $16.92 $23.408 -$9.115
Financing activities
Dividends paid
Sale and purchase of stock $372.423 $123.809 $3.099 $3.744
Net borrowings -$0.101 -$0.1 -$0.101 -$0.101
Other cash flows from financing -$2.297 -$1.249 -$2.424 -$0.498
Total cash flows from financing $370.025 $122.46 $0.574 $3.145
Effect of exchange rate -$0.036 $0.057 -$0.031 $0.014
Change in cash and equivalents $361.096 $119.679 -$3.184 -$24.501
(in millions) 2016 2015 2014
Net income -$61.68 -$85.779 -$59.504
Operating activities
Depreciation $8.769 $8.676 $5.128
Net income adjustments $31.884 $27.576 $18.688
Change in accounts receivable $4.957 -$1.952 $4.041
Changes in liabilities $22.215 $32.35 $56.484
Changes in inventory
Changes in other operating activities $0.963 $0.558 -$2.423
Total cash flow from operations $7.108 -$18.571 $22.414
Investing activities
Capital expenditures -$1.252 -$1.977 -$8.118
Investments $7.874 -$3.893 -$99.181
Other cash flows from investing $0.002 $0.01
Total cash flows from investing $6.622 -$5.868 -$107.289
Financing activities
Dividends paid
Sale and purchase of stock $9.881 $14.992 $174.495
Net borrowings -$0.403 -$0.403 -$0.403
Other cash flows from financing -$2.74 -$2.243 -$2.243
Total cash flows from financing $6.738 $12.346 $174.092
Effect of exchange rate -$0.01 -$0.038 -$0.094
Change in cash and equivalents $20.458 -$12.131 $89.123
Messenger