American Financial Group (AFG) FY2017 results: revenue $6.9 billion, up 5.6% on the year
American Financial Group Inc. (AFG) reported revenue of $6.9 billion for fiscal 2017, the year ended 31 December 2017, up 5.6% on the year before. Net income was $475 million, down 26.8%, and diluted earnings per share $5.28. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$6.9 billion
+5.6% on the year
FY2010FY2017
Operating margin
10.5%
12.1% a year earlier
FY2010FY2017
Net income
$475 million
-26.8% on the year
FY2010FY2017
Diluted EPS
$5.28
-28.0% 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
6,865
6,498
6,145
+5.6%
Operating income
724
787
565
-8.0%
Operating margin
10.5%
12.1%
9.2%
Interest expense
85.0
77.0
75.0
+10.4%
Pre-tax income
724
787
565
-8.0%
Income tax
247
119
195
+107.6%
Effective tax rate
34.1%
15.1%
34.5%
Net income
475
649
352
-26.8%
Net margin
6.9%
10.0%
5.7%
Diluted EPS
$5.28
$7.33
$3.94
-28.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,804
1,150
1,353
+56.9%
Cash from investing
-3,292
-2,981
-4,577
Cash from financing
1,719
2,718
3,097
-36.8%
Depreciation and amortisation
107
134
134
-20.1%
Share-based compensation
30.0
28.0
27.0
+7.1%
Buybacks
0.0
133
126
Dividends paid
417
185
176
+125.4%
Dividend per share
$4.79
$2.15
$2.03
+122.4%
Diluted shares, weighted
90m
88m
89m
+1.5%
Shares outstanding at period end
88m
87m
87m
+1.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,330
4,916
4,592
+8.4%
Non-controlling interest
1.0
3.0
178
-66.7%
Redeemable equity
3.0
0.0
0.0
Debt
1,301
1,283
998
+1.4%
Other liabilities
54,023
48,870
44,091
+10.5%
Total liabilities and equity
60,658
55,072
49,859
+10.1%
Goodwill
199
199
199
0.0%
Intangible assets
26.0
34.0
41.0
-23.5%
Securities held for sale or to maturity
38,379
34,544
32,284
+11.1%
Cash and equivalents
2,338
2,107
1,220
+11.0%
Other assets
19,716
18,188
16,115
+8.4%
Total assets
60,658
55,072
49,859
+10.1%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.