American Tower (AMT) FY2016 results: revenue $5.8 billion, up 21.3% on the year
American Tower Corp. (AMT) reported revenue of $5.8 billion for fiscal 2016, the year ended 31 December 2016, up 21.3% on the year before. Net income was $956 million, up 39.6%, and diluted earnings per share $1.98. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$5.8 billion
+21.3% on the year
FY2009FY2016
Operating margin
32.0%
33.8% a year earlier
FY2009FY2016
Net income
$956 million
+39.6% on the year
FY2009FY2016
Diluted EPS
$1.98
+40.4% 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
5,786
4,772
4,100
+21.3%
Cost of revenue
1,790
1,309
1,094
+36.8%
Gross profit
3,995
3,463
3,006
+15.4%
Gross margin
69.1%
72.6%
73.3%
Selling, general and administrative
543
498
447
+9.2%
Operating income
1,853
1,613
1,487
+14.9%
Operating margin
32.0%
33.8%
36.3%
Interest expense
n/a
n/a
580
Pre-tax income
1,126
830
866
+35.7%
Income tax
156
158
62.5
-1.6%
Effective tax rate
13.8%
19.0%
7.2%
Net income
956
685
825
+39.6%
Net margin
16.5%
14.4%
20.1%
Diluted EPS
$1.98
$1.41
$2.00
+40.4%
$ 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
2,702
2,167
2,135
+24.7%
Capital expenditure
683
729
974
-6.3%
Free cash flow
2,019
1,438
1,160
+40.4%
Free cash flow margin
34.9%
30.1%
28.3%
Cash from investing
-2,102
n/a
n/a
Cash from financing
-99.3
n/a
n/a
Depreciation and amortisation
1,526
1,285
1,004
+18.7%
Share-based compensation
89.9
90.5
80.2
-0.7%
Buybacks
0.0
0.0
0.0
Dividends paid
886
711
405
+24.7%
Diluted shares, weighted
429m
423m
400m
+1.5%
Shares outstanding at period end
427m
424m
397m
+0.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,764
6,652
3,954
+1.7%
Non-controlling interest
212
61.1
99.8
+247.2%
Redeemable equity
1,091
0.0
n/a
Debt
18,533
17,119
14,540
+8.3%
Other liabilities
4,278
3,072
2,670
+39.2%
Total liabilities and equity
30,879
26,904
21,264
+14.8%
Fixed assets
10,517
9,866
7,590
+6.6%
Goodwill
5,071
4,092
4,032
+23.9%
Intangible assets
11,275
9,838
6,824
+14.6%
Investments
4.0
0.0
6.3
Cash and equivalents
787
321
313
+145.5%
Receivables
308
227
199
+35.6%
Other assets
2,917
2,560
2,298
+13.9%
Total assets
30,879
26,904
21,264
+14.8%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.