Short answer
Moog Inc (MOG-A) filed its fiscal 2017 10-K annual report with the SEC on Nov 14, 2017. It reported revenue of $2.5B (+3.5% year over year) and net income of $141M.
- Top risk flagged: U.S. Department of Defense funding risk: 31% of 2017 sales tied to U.S. Government contracts
FY2017 key financial metrics · XBRL
- Revenue
- $2.5B
- +3.5% YoY
- Net income
- $141M
- +11.5% YoY
- Operating margin
- 10.0%
- +0.1 pp YoY
- Gross margin
- 29.3%
- −0.2 pp YoY
- EPS (diluted)
- $3.90
- +12.4% YoY
- ROE
- 11.6%
- −1.2 pp YoY
- Operating cash flow
- $218M
- +0.9% YoY
Source: XBRL data from the Moog Inc (MOG-A) FY2017 10-K on SEC EDGAR. USD.
Moog Inc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Precision motion and fluid-control designer, manufacturer, and systems integrator serving aerospace, defense, and industrial markets
- Four operating segments: Aircraft Controls, Space and Defense Controls, Industrial Systems, and Components
- 2017 sales mix: aerospace and defense OEMs 54%, industrial OEMs 30%, aftermarket 16%
- Twelve-month backlog $1.2 billion as of September 30, 2017, down 1% year over year
- R&D expense at least $140 million annually, approximately 6% of 2017 sales; workforce 10,675 employees
Management Discussion & Analysis
- Revenue $2.498B, up 4% YoY, with currency translation reducing sales by $19M
- Gross margin 29.3% vs 29.5%; effective tax rate 22.7% vs 28.5%
- Best segment Aircraft Controls: sales $1.125B, operating margin 10.1% vs 9.3%
- Worst segment Space and Defense Controls: operating margin 9.5% vs 11.3%, including $13M divestiture charges
- Operating cash flow $218M, capex $76M, Rotary Transfer Systems acquisition $41M, share repurchases $650M through September 30, 2017
- 2018 outlook: sales $2.617B, EPS midpoint $4.10, with defense-budget uncertainty and oil exploration sales expected at $34M vs $100M in 2014
Risk Factors
- U.S. Department of Defense funding risk: 31% of 2017 sales tied to U.S. Government contracts
- Foreign-market exposure: 42% of net sales to non-U.S. customers amid currency, tariff and political risks
- Supplier vulnerability: component or equipment-part delays could impair prime-contract performance
- Competitive disruption: larger industrial and medical competitors possess greater financial and research resources
- Fixed-price contract exposure: 92% of percentage-of-completion sales subject to cost overruns
Generated from the filing text; verify against the original. How to read a 10-K
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