Aon (AON) FY2016 results: revenue $9.4 billion, down 0.7% on the year
Aon plc (AON) reported revenue of $9.4 billion for fiscal 2016, the year ended 31 December 2016, down 0.7% on the year before. Net income was $1.4 billion, up 0.8%, and diluted earnings per share $5.16. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$9.4 billion
-0.7% on the year
FY2009FY2016
Operating margin
19.2%
16.7% a year earlier
FY2009FY2016
Net income
$1.4 billion
+0.8% on the year
FY2009FY2016
Diluted EPS
$5.16
+5.7% 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
9,409
9,480
12,045
-0.7%
Operating income
1,811
1,587
1,966
+14.1%
Operating margin
19.2%
16.7%
16.3%
Interest expense
282
273
255
+3.3%
Pre-tax income
1,401
1,428
1,765
-1.9%
Income tax
148
175
334
-15.4%
Effective tax rate
10.6%
12.3%
18.9%
Net income
1,396
1,385
1,397
+0.8%
Net margin
14.8%
14.6%
11.6%
Diluted EPS
$5.16
$4.88
$4.66
+5.7%
$ 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
2,326
2,009
1,812
+15.8%
Capital expenditure
156
200
256
-22.0%
Free cash flow
2,170
1,809
1,556
+20.0%
Free cash flow margin
23.1%
19.1%
12.9%
Cash from investing
-954
-138
-545
Cash from financing
-1,286
-1,689
-1,303
Depreciation and amortisation
162
164
242
-1.2%
Share-based compensation
306
320
328
-4.4%
Buybacks
1,257
1,550
2,250
-18.9%
Dividends paid
345
323
273
+6.8%
Dividend per share
$1.29
$1.15
$0.92
+12.2%
Diluted shares, weighted
270m
284m
300m
-4.8%
Shares outstanding at period end
n/a
270m
280m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,475
6,002
6,571
-8.8%
Non-controlling interest
57.0
57.0
60.0
0.0%
Debt
6,205
5,138
4,799
+20.8%
Other liabilities
14,878
15,686
18,342
-5.2%
Total liabilities and equity
26,615
26,883
29,772
-1.0%
Fixed assets
550
765
765
-28.1%
Goodwill
7,410
7,068
8,860
+4.8%
Intangible assets
1,890
2,180
2,520
-13.3%
Investments
409
491
537
-16.7%
Cash and equivalents
426
384
374
+10.9%
Receivables
2,106
2,564
2,815
-17.9%
Other assets
13,824
13,431
13,901
+2.9%
Total assets
26,615
26,883
29,772
-1.0%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.