MTDR
Matador Resources Company

Market cap $3.2556B
Enterprise value $3.6396B
Employees 165
Revenue $544M
EBITDA $340M
Income $126M
EPS 1.93
P/E 15.55
Forward P/E 18.19
EV/EBITDA 10.72
PEG 0.75
Earnings date 2018-05-01
Volume 1.36M / 1.23M
Relative vol. 1.10 ×
Profit margin 23.13%
Oper. margin 29.55%
Gross margin 37.27%
Sales Q/Q 48.61%
Sales Y/Y -21.64%
Est. EPS Q/Q 76.47%
Beta 1.99
Mean Recomm. 2.00
IPO year 2012
Country United States
RSI 43.33
Range $29.22 – $30.03
52 weeks $20.13 – $33.96
SMA 50 $31 +3.48%
SMA 200 $28 -8.21%
1 year target $35 +17.99%

Intraday

5 days

1 month

3 months

6 months

1 year

5 years

10 years

All time

Wednesday, 21 February 2018
-2.05%
finance.yahoo
Continental Resources, Parsley Energy, Matador On Tap As Shale Earnings Continue
Thursday, 1 February 2018
+1.32%
businesswire
Matador Resources Company Announces Date of Fourth Quarter and Full Year 2017 Earnings Release
Tuesday, 30 January 2018
-0.22%
marketrealist
Plains All American Pipelines’ Key Upcoming Capital Projects
Monday, 29 January 2018
+0.00%
businesswire
Matador Resources Company Announces Appointment of New Director
Thursday, 25 January 2018
-2.36%
zacks
The Zacks Analyst Blog Highlights: EOG Resources, Continental Resources, Pioneer Natural and Matador Resources
zacks
Range Resources Plans Most of 2018 Spending for Marcellus
Wednesday, 24 January 2018
-1.22%
zacks
Here's Why it is Worth Investing in Newfield Stock Now
accesswire
Blog Exposure - Matador Resources and Plains All American Pipeline Form Strategic Alliance
Tuesday, 23 January 2018
+0.70%
fool
Why This 5.2%-Yielding Dividend Stock Could Push Its Payout Higher
Monday, 22 January 2018
+2.55%
businesswire
Matador Resources Company Announces Strategic Relationship with Plains All American Pipeline in Rustler Breaks
Thursday, 11 January 2018
+2.12%
marketrealist
Short Interest Trends for Top 5 Upstream Return on Equity Stocks
marketrealist
Implied Volatility of Top 5 Return on Equity Upstream Stocks
marketrealist
Analysts’ Views on Top 5 Upstream Return on Equity Stocks
Wednesday, 10 January 2018
+0.63%
marketrealist
How Our Top 5 Upstream Stocks Performed in 2017
marketrealist
Key Trends in Matador Resources’ Return on Equity
marketrealist
The Top 5 Upstream Companies Based on Return on Equity
Tuesday, 9 January 2018
-2.11%
zacks
Why SM Energy Company Could Be Positioned for a Surge
zacks
Surging Earnings Estimates Signal Good News for Matador Resources
Thursday, 21 December 2017
+4.95%
investors
Matador Resources Shows Market Leadership With Jump To 82 RS Rating
Friday, 8 December 2017
-2.37%
marketrealist
Analyzing Wall Street Targets for the Best-Performing Upstream Stocks
Thursday, 7 December 2017
+2.24%
marketrealist
US Gasoline Inventories Add More Pain to Crude Oil Futures
marketrealist
Matador Resources: The Fifth-Best-Performing Upstream Stock Year-to-Date
Tuesday, 5 December 2017
-1.34%
marketrealist
The Fourth-Best-Performing Upstream Stock Year-to-Date
Monday, 4 December 2017
-2.81%
investors
Matador Resources Scores Relative Strength Rating Upgrade; Hits Key Threshold
Monday, 13 November 2017
-3.19%
seekingalpha
Hartstreet: EOG King Of The 'Super Hog' Story
globenewswire
New Research Coverage Highlights Leucadia National, Matador Resources, Bemis Company, Capricor Therapeutics, IZEA, and Comcast – Consolidated Revenues, Company Growth, and Expectations for 2018
Wednesday, 8 November 2017
-0.71%
seekingalpha
Matador Resources' CEO Joe Foran on Q3 2017 Results - Earnings Call ...
Tuesday, 7 November 2017
-0.81%
investors
Dow, S&P 500, Nasdaq Inch Up At Open As Two Big Travel Names Dive
Monday, 6 November 2017
+3.95%
reuters
Matador Resources reports Q3 earnings per share of $0.15
ap
Matador beats Street 3Q forecasts
businesswire
Matador Resources Company Reports Third Quarter 2017 Results, Provides Operational Update and Increases 2017 Guidance Estimates
investors
Stocks Rise; Chips In Focus, But This Other Sector Is Making Breakouts
seekingalpha
Hartstreet LLC: Concho Reports Another Good Quarter, Outperforming Well Results
Thursday, 2 November 2017
-0.71%
investors
Matador Resources Shows Improved Relative Strength; Still Shy Of Benchmark
Thursday, 26 October 2017
-0.24%
businesswire
Matador Resources Company Announces Date of Third Quarter 2017 Earnings Release
Thursday, 5 October 2017
+0.68%
reuters
BRIEF-Matador Resources has priced an underwritten public offering of 8 mln ...
reuters
Matador Resources has priced an underwritten public offering of 8 mln shares of its common stock
businesswire
Matador Resources Company Announces Pricing of Public Offering of Common Stock
Wednesday, 4 October 2017
-1.34%
businesswire
Matador Resources Company Announces Commencement of Public Offering of Common Stock
reuters
Matador Resources announces commencement of public offering of common stock
Tuesday, 26 September 2017
+1.28%
investors
Matador Resources Reaches 80-Plus Relative Strength Rating Benchmark
Friday, 22 September 2017
-0.47%
investors
Matador Resources Clears Technical Benchmark, Hitting 80-Plus RS Rating
Thursday, 21 September 2017
+1.38%
investors
IBD Rating Upgrades: Matador Resources Flashes Improved Technical Strength
Tuesday, 19 September 2017
-0.36%
marketwatch
Opinion: Your five-point investing guide for this aging bull market
Thursday, 14 September 2017
-1.26%
marketrealist
Why US Crude Oil Production Rose Last Week
Thursday, 31 August 2017
+1.68%
marketrealist
Why Hedge Funds May Be Turning Bearish on US Crude
Thursday, 10 August 2017
-1.06%
marketwatch
Opinion: Stop believing these 5 oil myths and start buying energy stocks
Sunday, 6 August 2017
seekingalpha
Matador Resources' CEO Joe Foran on Q2 2017 Results - Earnings Call ...
Thursday, 3 August 2017
-9.86%
accesswire
Investor Network: Matador Resources Company to Host Earnings Call
Wednesday, 2 August 2017
+1.31%
ap
Matador meets 2Q profit forecasts
reuters
Matador Resources Q2 GAAP earnings per share $0.28
Friday, 7 July 2017
+1.78%
nasdaq
Commit To Buy Matador Resources At $12.50, Earn 6% Using Options
Thursday, 25 May 2017
-2.37%
marketwatch
Opinion: 16 energy stocks that company executives love, regardless of what ...
Thursday, 4 May 2017
-0.54%
seekingalpha
Matador Resources' CEO Joe Foran on Q1 2017 Results - Earnings Call ...
reuters
Matador Resources says entered into an amendment to revolving credit agreement
Wednesday, 3 May 2017
+2.58%
reuters
Matador Resources Q1 GAAP earnings per share $0.44
Thursday, 13 April 2017
-4.53%
bloomberg
For Oil's Future, Peer Through the Hedges
Thursday, 6 April 2017
+0.59%
reuters
Matador Resources says unaware of any basis for recent reports that co may be a potential takeover target
Thursday, 23 March 2017
-0.77%
reuters
Matador Resources updates 2017 guidance
Monday, 20 March 2017
+1.32%
marketwatch
Top-ranked Hodges Fund loads up on infrastructure stocks as Trump plans to fix ...
Wednesday, 8 March 2017
-5.01%
marketwatch
Opinion: Energy stocks are falling while the S&P is climbing — and that's a ...
Wednesday, 22 February 2017
-3.33%
reuters
Matador Resources reports Q4 GAAP earnings per share $1.09
Friday, 17 February 2017
-0.81%
reuters
Matador Resources announces formation of JV for Delaware basin midstream assets
Tuesday, 3 January 2017
-0.61%
marketwatch
Bull trend pauses: Charting the S&P 500's early-2017 holding pattern
Tuesday, 6 December 2016
+0.85%
reuters
Matador resources co says additional notes will be issued at 105.5% of par
reuters
Matador Resources announces pricing of upsized public offering of common stock
Monday, 5 December 2016
-3.12%
reuters
Matador Resources offers $150 mln of additional senior notes due 2023
Wednesday, 30 November 2016
+8.20%
reuters
Leaner and meaner: US shale greater threat to OPEC after oil price war
Tuesday, 1 November 2016
+2.07%
reuters
Matador Resources Q3 earnings per share view $-0.01
Wednesday, 3 August 2016
+3.94%
reuters
Matador Resources Q2 adjusted non-gaap loss per share $0.01 excluding items
Thursday, 7 July 2016
-4.90%
fool
Matador Resources Co.'s 13.4% June Swoon Defies Analysts
Wednesday, 3 February 2016
+3.65%
reuters
Matador Resources Co gives FY 2016 production and EBITDA guidance
Thursday, 1 October 2015
+1.98%
reuters
Matador Resources Company announces closing of sale of Loving County Gas Gathering and Processing Assets
Tuesday, 15 September 2015
+3.76%
reuters
Matador Resources Co announces agreement for sale of loving county gas gathering and processing assets
Tuesday, 4 August 2015
+0.14%
reuters
Matador Resources Co raises FY 2015 production guidance
Thursday, 2 February 2012
+0.00%
marketwatch
21.37
Date
#
Company
Insider Title
Trans.
Transaction
Shares Price per share Total price Shares after Source
2018-01-18 Billy E Goodwin
EVP - Operations
EVP - Operations Option exercise 5,516 $22.66 $124,993
2018-01-18
112,142
2018-01-15 George G Krug
SVP - Mktg and Midstream
SVP - Mktg and Midstream Option exercise 2,206 $22.66 $49,988
2018-01-15
68,316
2018-01-02 David E Lancaster
EVP and CFO
EVP and CFO Option exercise 62,500 $8.21 $513,125
2018-01-02
385,162
2017-12-08 Julia P. Forrester
Director
Director Buy 730 $28.25 $20,623
2017-12-08
1,985
2017-12-04 David M. Posner
Director
Director Buy 1,035 $28.92 $29,932
2017-12-04
6,210
2017-12-01 David E Lancaster
EVP and CFO
EVP and CFO Option exercise 62,500 $8.21 $513,125
2017-12-01
359,103
2017-11-09 Matthew V Hairford
President
President Option exercise 58,750 $8.21 $482,338
2017-11-09
331,453
2017-11-07 Craig N Adams
EVP - Land, Legal & Admin
EVP - Land, Legal & Admin Option exercise 20,000 $8.21 $164,200
2017-11-07
131,948
2017-09-06 Craig N Adams
EVP - Land, Legal & Admin
EVP - Land, Legal & Admin Option exercise 20,000 $8.21 $164,200
2017-09-06
123,628
2017-08-08 David M. Posner
Director
Director Buy 4,115 $24.10 $99,172
2017-08-08
5,175
2017-07-25 Van H Ii Singleton
EVP - Land
EVP - Land Option exercise 33,750 $8.18 $276,075
2017-07-25
98,994
2017-07-24 Joseph Wm Foran
Chairman and CEO
Chairman and CEO Option exercise 87,500 $8.21 $718,375
2017-07-24
306,941
2017-06-09 Joseph Wm Foran
Chairman and CEO
Chairman and CEO Sale 11,000 $23.12 $254,320
2017-06-09
862,764
2017-05-24 Julia P. Forrester
Director
Director Buy 1,255 $23.96 $30,070
2017-05-24
1,255
2017-04-12 Bradley M Robinson
CTO, SVP-Reservoir Engineering
CTO, SVP-Reservoir Engineering Option exercise 20,000 $10.49 $209,800
2017-04-12
235,481
2017-04-10 Van H Ii Singleton
EVP - Land
EVP - Land Option exercise 14,583 $10.49 $152,976
2017-04-10
74,907
2017-04-10 David E Lancaster
EVP and CFO
EVP and CFO Option exercise 42,500 $10.49 $445,825
2017-04-10
325,095
2017-04-06 George G Krug
SVP - Mktg and Midstream
SVP - Mktg and Midstream Option exercise 8,000 $10.49 $83,920
2017-04-06
71,410
2017-03-31 Matthew V Hairford
President
President Option exercise 32,500 $10.49 $340,925
2017-03-31
290,351
2017-03-29 Joseph Wm Foran
Chairman and CEO
Chairman and CEO Option exercise 87,500 $8.21 $718,375
2017-03-29
366,429
2017-03-14 Billy E Goodwin
EVP - Operations
EVP - Operations Option exercise 18,750 $8.18 $153,375
2017-03-14
118,377
2017-03-08 George G Krug
SVP - Mktg and Midstream
SVP - Mktg and Midstream Option exercise 37,500 $8.18 $306,750
2017-03-08
87,042
2017-02-28 Kenneth L. Stewart
Director
Director Buy 10,000 $24.23 $242,300
2017-02-28
10,000
2017-02-27 Julia P. Forrester
Director
Director Buy 2,000 $24.72 $49,440
2017-02-27
2,000
2017-02-02 Joseph Wm Foran
Chairman and CEO
Chairman and CEO Option exercise 80,208 $10.49 $841,382
2017-02-02
222,986
2016-12-14 Steven W Ohnimus
Director
Director Sale 20,000 $25.78 $515,600
2016-12-14
99,853
2016-12-13 David M. Laney
Director
Director Buy 10,000 $26.45 $264,500
2016-12-13
76,000

Notable SEC filings of Matador Resources Company

Date Contents
Source
2017-11-09 10-Q Quarterly report
2017-11-07 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-10-10 8-K Entry into a Material Definitive Agreement; Regulation FD Disclosure; Other Events; Financial Statements and Exhibits
2017-10-04 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-09-11 8-K Regulation FD Disclosure
2017-08-07 10-Q Quarterly report
2017-08-03 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-07-19 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
2017-06-06 8-K Submission of Matters to a Vote of Security Holders
2017-06-01 8-K Regulation FD Disclosure
2017-05-12 8-K Regulation FD Disclosure
2017-05-05 10-Q Quarterly report
2017-05-04 8-K Entry into a Material Definitive Agreement; Results of Operations and Financial Condition; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Regulation FD Disclosure; Financial Statements and Exhibits
2017-04-26 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-04-06 8-K Regulation FD Disclosure
2017-03-23 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-03-09 8-K Other Events; Financial Statements and Exhibits
2017-03-01 10-K Yearly report
2017-02-24 8-K Entry into a Material Definitive Agreement; Completion of Acquisition or Disposition of Assets; Regulation FD Disclosure; Financial Statements and Exhibits
2017-02-23 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-02-21 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
2017-02-03 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-01-09 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
2016-12-23 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Other Events; Financial Statements and Exhibits
2016-12-09 8-K Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Regulation FD Disclosure; Other Events; Financial Statements and Exhibits
2016-12-06 8-K Regulation FD Disclosure; Financial Statements and Exhibits
Hold Deutsche Bank 1 February 2018
Neutral → Buy
Mizuho 15 January 2018
Equal-Weight Barclays 19 November 2017
Outperform Imperial Capital 7 November 2017
Outperform Credit Suisse 1 June 2017

Matador Resources executives

Insider Title Age Since Compensation
Joseph Foran (64)
Chairman of the Board, Chief Executive Officer, Secretary since 2013
Chairman of the Board, Chief Executive Officer, Secretary 64 2013 $6,003,400
Matthew Hairford (56)
President since 2013
President 56 2013 $2,599,210
David Lancaster (60)
Chief Financial Officer, Executive Vice President since 2015
Chief Financial Officer, Executive Vice President 60 2015 $2,241,670
Craig Adams (50)
Executive Vice President - Land, Legal and Administration since 2015
Executive Vice President - Land, Legal and Administration 50 2015 $2,224,950
Billy Goodwin (59)
Senior Vice President - Operations since 2016
Senior Vice President - Operations 59 2016 $1,771,520
Van Singleton (39)
Executive Vice President - Land since 2015
Executive Vice President - Land 39 2015 $1,119,650
Bradley Robinson (62)
Senior Vice President- Reservoir Engineering, Chief Technology Officer since 2016
Senior Vice President- Reservoir Engineering, Chief Technology Officer 62 2016 $689,750
Reynald Baribault (53)
Lead Independent Director since 2016
Lead Independent Director 53 2016 $220,602
Steven Ohnimus (70)
Independent Director since 2004
Independent Director 70 2004 $206,602
George Yates (70)
Director since 2015
Director 70 2015 $203,602
Craig Burkert (60)
Independent Director since 2015
Independent Director 60 2015 $108,249
William Byerley (63)
Independent Director since 2016
Independent Director 63 2016 $102,799
R. Gaines Baty (66)
Independent Director since 2016
Independent Director 66 2016 $45,108
Timothy Parker
Director since 2018
Director 2018
Mac Schmitz
Investor Relations Department
Investor Relations Department
Kenneth Stewart (63)
Director since 2017
Director 63 2017
David Posner
Director since 2017
Director 2017
Julia Forrester (57)
Director since 2017
Director 57 2017
Brian Willey (40)
Vice President and Co-General Counsel since 2016
Vice President and Co-General Counsel 40 2016
Trent Green (50)
Vice President of Production since 2015
Vice President of Production 50 2015
Bryan Erman (39)
Vice President and Co-General Counsel since 2016
Vice President and Co-General Counsel 39 2016
Kathryn Wayne (56)
Vice President, Controller and Treasurer since 2017
Vice President, Controller and Treasurer 56 2017
Matthew Spicer (49)
Vice President, General Manager of Midstream since 2015
Vice President, General Manager of Midstream 49 2015
Robert Macalik (38)
Chief Accounting Officer, Vice President since 2015
Chief Accounting Officer, Vice President 38 2015
G. Gregg Krug (56)
Senior Vice President- Marketing and Midstream since 2016
Senior Vice President- Marketing and Midstream 56 2016
Matador Resources Company logo

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates in two segments, Exploration and Production, and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas; the Eagle Ford shale play in South Texas; and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. It also conducts midstream operations in support of the company's exploration, development, and production operations, as well as provides natural gas processing, natural gas, oil, and salt water gathering services; and salt water disposal services to third parties. As of December 31, 2016, its estimated proved oil and natural gas reserves were 105.8 million barrels of oil equivalent, including 57 million stock tank barrels of oil and 292.6 billion cubic feet of natural gas. The company was formerly known as Matador Holdco, Inc. and changed its name to Matador Resources Company in August 2011. Matador Resources Company was founded in 2003 and is headquartered in Dallas, Texas.

  • Matador Resources Company, One Lincoln Centre, Dallas 75240, United States
  • matadorresources.com
  • 972-371-5200

Quarterly EPS estimates

Profit margin

Debt to assets

Cash flow

Balance sheet

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Current assets
Cash $30.922 $146.506 $224.309 $214.142
Short term investments
Net receivables $109.012 $84.311 $75.445 $58.668
Inventory $4.801 $2.957 $2.929 $3.045
Other current assets $5.61 $13.013 $7.293 $3.327
Total current assets $150.345 $246.787 $309.976 $279.182
Long term investments $0.285 $2.992 $2.283
Property, plant & equipment $1,697.167 $1,526.504 $1,373.215 $1,184.525
Goodwill
Intangible assets
Other assets $0.74 $0.793 $0.919 $0.958
Deferred long term asset charges
Total assets $1,848.537 $1,777.076 $1,686.393 $1,464.665
Current liabilities
Accounts payable $247.791 $210.336 $158.363 $144.724
Short long term debt $3.641 $1.192 $8.321 $24.203
Other current liabilities $0.663 $0.656 $0.621 $0.578
Total current liabilities $252.095 $212.184 $167.305 $169.505
Long term debt $574.027 $573.988 $573.968 $573.924
Other liabilities $29.409 $28.533 $29.624 $29.04
Deferred long term liabilities $0.209 $0.751
Minority interest $86.594 $72.629 $63.231 $1.32
Total liabilities $855.74 $814.705 $770.897 $773.22
Stockholders' equity
Stock option warrants
Common stock $1.006 $1.004 $1.002 $0.995
Retained earnings -$548.819 -$563.858 -$592.367 -$636.351
Treasury stock -$1.589 -$0.745 -$0.633
Capital surplus $1,455.605 $1,453.341 $1,444.263 $1,325.481
Other stockholder equity
Total stockholder equity $906.203 $889.742 $852.265 $690.125
Net tangible assets $906.203 $889.742 $852.265 $690.125
(in millions) 2016 2015 2014
Current assets
Cash $214.142 $61.089 $9.016
Short term investments
Net receivables $58.668 $44.409 $44.992
Inventory $3.045 $2.022 $1.212
Other current assets $3.327 $19.487 $57.198
Total current assets $279.182 $127.007 $112.418
Long term investments
Property, plant & equipment $1,184.525 $1,012.406 $1,322.072
Goodwill
Intangible assets
Other assets $0.958 $1.448
Deferred long term asset charges
Total assets $1,464.665 $1,140.861 $1,434.49
Current liabilities
Accounts payable $144.724 $131.839 $141.933
Short long term debt $24.203
Other current liabilities $0.578 $4.991 $0.103
Total current liabilities $169.505 $136.83 $142.036
Long term debt $573.924 $391.254 $338.199
Other liabilities $29.04 $21.312 $14.18
Deferred long term liabilities $0.751 $102.506 $73.534
Minority interest $1.32 $0.956 $0.133
Total liabilities $773.22 $651.902 $567.949
Stockholders' equity
Stock option warrants
Common stock $0.995 $0.856 $0.734
Retained earnings -$636.351 -$538.93 $140.855
Treasury stock
Capital surplus $1,325.481 $1,026.077 $724.819
Other stockholder equity
Total stockholder equity $690.125 $488.003 $866.408
Net tangible assets $690.125 $488.003 $866.408

Income statement

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Revenue
Total revenue $126.278 $129.611 $134.814 $84.973
Cost of revenue $19.785 $18.981 $18.099 $16.754
Gross profit $106.493 $110.63 $116.715 $68.219
Operating expenses
Research & development
Selling, general & administrative $31.822 $30.052 $28.145 $27.783
Non-recurring
Other operating expenses $48.123 $41.588 $34.292 $32.217
Total operating expenses
Operating income $26.548 $38.99 $54.278 $8.219
Income from continuing operations
Net other income -$0.019 $1.921 $0.077 $104.15
EBIT $26.529 $40.911 $54.355 $112.369
Interest expense $8.55 $9.224 $8.455 $7.955
Income before tax $17.979 $31.687 $45.9 $104.414
Income tax expense $0.105
Minority interest $86.594 $72.629 $63.231 $1.32
Net income from continuing ops $15.039 $28.509 $43.984 $104.154
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA $15.039 $28.509 $43.984 $104.154
Income (for common shares) $15.039 $28.509 $43.984 $104.154
(in millions) 2016 2015 2014
Revenue
Total revenue $264.422 $318.033 $432.249
Cost of revenue $61.591 $58.193 $51.353
Gross profit $202.831 $259.84 $380.896
Operating expenses
Research & development
Selling, general & administrative $98.135 $85.755 $65.324
Non-recurring $158.633 $801.166 $801.166
Other operating expenses $123.23 $179.581 $135.241
Total operating expenses
Operating income -$177.167 -$806.662 $180.331
Income from continuing operations
Net other income $107.273 $1.524 $0.132
EBIT -$69.894 -$805.138 $180.463
Interest expense $28.199 $21.754 $5.334
Income before tax -$98.093 -$826.892 $175.129
Income tax expense -$1.036 -$147.368 $64.375
Minority interest $1.32 $0.956 $0.133
Net income from continuing ops -$97.421 -$679.785 $110.771
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA -$97.421 -$679.785 $110.771
Income (for common shares) -$97.421 -$679.785 $110.771

Cash flow

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Net income $15.039 $28.509 $43.984 $104.154
Operating activities
Depreciation $48.162 $41.608 $34.336 $32.466
Net income adjustments $13.652 -$6.164 -$16.472 -$89.936
Change in accounts receivable -$24.701 -$8.865 -$16.777 -$6.477
Changes in liabilities $47.261 $2.196 $16.387 -$2.667
Changes in inventory -$1.526 -$0.287 $0.147 -$0.031
Changes in other operating activities $0.447 -$0.242 -$2.212 -$0.04
Total cash flow from operations $101.274 $59.933 $61.309 $37.624
Investing activities
Capital expenditures -$227.158 -$145.348 -$225.324 -$108.589
Investments
Other cash flows from investing $4.297 $0.19 -$12.996 $0.545
Total cash flows from investing -$222.861 -$145.158 -$238.32 -$108.044
Financing activities
Dividends paid -$3.675 -$1.96 -$1.96 -$1.96
Sale and purchase of stock $15.419 $10.02 $175.728 $146.243
Net borrowings $116.891
Other cash flows from financing -$1.445 -$1.074 -$1.896 -$0.413
Total cash flows from financing $10.299 $6.986 $173.832 $262.738
Effect of exchange rate
Change in cash and equivalents -$111.288 -$78.239 -$3.179 $192.318
(in millions) 2016 2015 2014
Net income -$97.421 -$679.785 $110.771
Operating activities
Depreciation $124.378 $180.433 $135.241
Net income adjustments $104.956 $698.646 $11.464
Change in accounts receivable -$14.259 $3.633 -$13.318
Changes in liabilities $16.402 $6.623 $7.122
Changes in inventory -$0.7 -$0.18 -$0.211
Changes in other operating activities $0.366 -$1.096 $0.429
Total cash flow from operations $134.086 $208.535 $251.481
Investing activities
Capital expenditures -$453.912 -$497.214 -$570.001
Investments -$24.028 -$24.028
Other cash flows from investing $48.272 $96.088 -$0.53
Total cash flows from investing -$405.64 -$425.154 -$570.531
Financing activities
Dividends paid
Sale and purchase of stock $287.763 $188.134 $181.478
Net borrowings $181.891 $38.42 $140
Other cash flows from financing -$2.795 -$2.768 -$0.898
Total cash flows from financing $467.706 $224.944 $321.17
Effect of exchange rate
Change in cash and equivalents $196.152 $8.325 $2.12
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