Assured Guaranty (AGO) FY2015 results: revenue $2.2 billion, up 10.7% on the year
Assured Guaranty Ltd. (AGO) reported revenue of $2.2 billion for fiscal 2015, the year ended 31 December 2015, up 10.7% on the year before. Net income was $1.1 billion, down 2.9%, and diluted earnings per share $7.08. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$2.2 billion
+10.7% on the year
FY2008FY2015
Operating margin
64.8%
76.8% a year earlier
FY2008FY2015
Net income
$1.1 billion
-2.9% on the year
FY2008FY2015
Diluted EPS
$7.08
+13.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,207
1,994
1,608
+10.7%
Operating income
1,431
1,531
1,142
-6.5%
Operating margin
64.8%
76.8%
71.0%
Interest expense
101
92.0
82.0
+9.8%
Pre-tax income
1,431
1,531
1,142
-6.5%
Income tax
375
443
334
-15.3%
Effective tax rate
26.2%
28.9%
29.2%
Net income
1,056
1,088
808
-2.9%
Net margin
47.8%
54.6%
50.2%
Diluted EPS
$7.08
$6.26
$4.30
+13.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
-71.0
577
244
Cash from investing
994
-96.0
681
Cash from financing
-847
-585
-878
Share-based compensation
n/a
9.0
7.0
Buybacks
555
590
264
-5.9%
Dividends paid
72.0
76.0
75.0
-5.3%
Dividend per share
$0.48
$0.44
$0.40
+9.1%
Diluted shares, weighted
149m
174m
188m
-14.2%
Shares outstanding at period end
138m
158m
182m
-12.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,063
5,758
5,115
+5.3%
Non-controlling interest
0.0
0.0
0.0
Debt
1,300
1,297
816
+0.2%
Other liabilities
7,181
7,870
10,356
-8.8%
Total liabilities and equity
14,544
14,925
16,287
-2.6%
Investments
396
767
904
-48.4%
Trading assets
n/a
n/a
76.0
Cash and equivalents
166
75.0
184
+121.3%
Other assets
13,982
14,083
15,123
-0.7%
Total assets
14,544
14,925
16,287
-2.6%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.