American Financial Group (AFG) FY2016 results: revenue $6.5 billion, up 5.7% on the year
American Financial Group Inc. (AFG) reported revenue of $6.5 billion for fiscal 2016, the year ended 31 December 2016, up 5.7% on the year before. Net income was $649 million, up 84.4%, and diluted earnings per share $7.33. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$6.5 billion
+5.7% on the year
FY2009FY2016
Operating margin
12.1%
9.2% a year earlier
FY2009FY2016
Net income
$649 million
+84.4% on the year
FY2009FY2016
Diluted EPS
$7.33
+86.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
6,498
6,145
5,733
+5.7%
Operating income
787
565
626
+39.3%
Operating margin
12.1%
9.2%
10.9%
Interest expense
77.0
75.0
74.0
+2.7%
Pre-tax income
787
565
626
+39.3%
Income tax
119
195
220
-39.0%
Effective tax rate
15.1%
34.5%
35.1%
Net income
649
352
452
+84.4%
Net margin
10.0%
5.7%
7.9%
Diluted EPS
$7.33
$3.94
$4.97
+86.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,150
1,353
1,231
-15.0%
Cash from investing
-2,981
-4,577
-3,628
Cash from financing
2,718
3,097
2,101
-12.2%
Depreciation and amortisation
134
134
144
0.0%
Share-based compensation
28.0
27.0
25.0
+3.7%
Buybacks
133
126
191
+5.6%
Dividends paid
185
176
167
+5.1%
Dividend per share
$2.15
$2.03
$1.91
+6.0%
Diluted shares, weighted
88m
89m
91m
-1.0%
Shares outstanding at period end
87m
87m
88m
-0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,916
4,592
4,879
+7.1%
Non-controlling interest
3.0
178
175
-98.3%
Redeemable equity
0.0
0.0
0.0
Debt
1,283
998
1,061
+28.6%
Other liabilities
48,870
44,091
41,420
+10.8%
Total liabilities and equity
55,072
49,859
47,535
+10.5%
Goodwill
199
199
201
0.0%
Intangible assets
34.0
41.0
49.0
-17.1%
Securities held for sale or to maturity
34,544
32,284
30,734
+7.0%
Cash and equivalents
2,107
1,220
1,343
+72.7%
Other assets
18,188
16,115
15,208
+12.9%
Total assets
55,072
49,859
47,535
+10.5%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.