American Electric Power (AEP) FY2017 results: revenue $15.4 billion, down 5.8% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $15.4 billion for fiscal 2017, the year ended 31 December 2017, down 5.8% on the year before. Net income was $1.9 billion, up 213.1%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$15.4 billion
-5.8% on the year
FY2010FY2017
Operating margin
22.9%
7.1% a year earlier
FY2010FY2017
Net income
$1.9 billion
+213.1% on the year
FY2010FY2017
Diluted EPS
$3.88
+212.9% on the year
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
15,425
16,380
16,453
-5.8%
Operating income
3,525
1,164
3,334
+202.9%
Operating margin
22.9%
7.1%
20.3%
Interest expense
895
877
874
+2.0%
Pre-tax income
2,899
547
2,688
+430.1%
Income tax
970
-73.7
920
Effective tax rate
33.5%
-13.5%
34.2%
Net income
1,913
611
2,047
+213.1%
Net margin
12.4%
3.7%
12.4%
Diluted EPS
$3.88
$1.24
$4.17
+212.9%
$ 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
4,270
4,522
4,749
-5.6%
Capital expenditure
0.0
108
5.3
Free cash flow
4,270
4,414
4,743
-3.3%
Free cash flow margin
27.7%
26.9%
28.8%
Cash from investing
-3,656
-4,989
-4,564
Cash from financing
-605
504
-662
Depreciation and amortisation
n/a
1,690
1,677
Dividends paid
1,192
1,121
1,059
+6.3%
Dividend per share
$2.39
$2.27
$2.15
+5.3%
Diluted shares, weighted
493m
492m
491m
+0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
18,287
17,397
17,892
+5.1%
Non-controlling interest
26.6
23.1
13.2
+15.2%
Redeemable equity
0.0
n/a
n/a
Short-term borrowings
1,639
1,713
800
-4.3%
Debt
21,173
20,256
19,573
+4.5%
Other liabilities
23,604
24,078
23,406
-2.0%
Total liabilities and equity
64,729
63,468
61,683
+2.0%
Fixed assets
50,262
45,639
46,133
+10.1%
Goodwill
52.5
52.5
52.5
0.0%
Investments
162
139
387
+16.6%
Cash and equivalents
215
210
176
+1.9%
Receivables
1,891
1,917
1,640
-1.3%
Other assets
12,148
15,510
13,294
-21.7%
Total assets
64,729
63,468
61,683
+2.0%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.