Franklin Templeton (BEN) FY2016 results: revenue $6.6 billion, down 16.7% on the year
Franklin Templeton Inc. (BEN) reported revenue of $6.6 billion for fiscal 2016, the year ended 30 September 2016, down 16.7% on the year before. Net income was $1.7 billion, down 15.2%, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2016.
Revenue
$6.6 billion
-16.7% on the year
FY2009FY2016
Operating margin
35.7%
38.1% a year earlier
FY2009FY2016
Net income
$1.7 billion
-15.2% on the year
FY2009FY2016
Diluted EPS
$2.94
-10.6% 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
6,618
7,949
8,491
-16.7%
Operating income
2,366
3,028
3,221
-21.9%
Operating margin
35.7%
38.1%
37.9%
Interest expense
49.9
39.6
47.4
+26.0%
Pre-tax income
2,500
3,028
3,410
-17.5%
Income tax
742
924
998
-19.7%
Effective tax rate
29.7%
30.5%
29.3%
Net income
1,727
2,035
2,384
-15.2%
Net margin
26.1%
25.6%
28.1%
Diluted EPS
$2.94
$3.29
$3.79
-10.6%
$ 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
1,728
2,252
2,138
-23.3%
Capital expenditure
97.6
68.8
53.1
+41.9%
Free cash flow
1,630
2,183
2,085
-25.3%
Free cash flow margin
24.6%
27.5%
24.6%
Cash from investing
192
249
391
-22.8%
Cash from financing
-1,801
-1,612
-1,195
Depreciation and amortisation
81.0
81.6
82.6
-0.7%
Share-based compensation
132
140
128
-6.1%
Buybacks
1,308
1,060
622
+23.4%
Dividends paid
409
666
290
-38.7%
Dividend per share
$0.72
$1.10
$0.48
-34.5%
Diluted shares, weighted
584m
615m
625m
-5.1%
Shares outstanding at period end
570m
604m
623m
-5.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
11,936
11,841
11,584
+0.8%
Non-controlling interest
592
655
628
-9.5%
Redeemable equity
61.1
59.6
235
+2.5%
Deposits
n/a
n/a
0.4
Debt
1,401
1,348
1,198
+3.9%
Other liabilities
2,108
2,432
2,711
-13.3%
Total liabilities and equity
16,099
16,336
16,357
-1.5%
Fixed assets
523
510
531
+2.6%
Goodwill
1,661
1,661
1,691
0.0%
Intangible assets
19.2
57.5
87.5
-66.6%
Securities held for sale or to maturity
n/a
n/a
12.0
Loans
n/a
n/a
2.5
Trading assets
1,122
1,251
1,278
-10.3%
Cash and equivalents
8,483
8,368
7,596
+1.4%
Other assets
4,290
4,488
5,160
-4.4%
Total assets
16,099
16,336
16,357
-1.5%
10-K for the year ended 30 September 2016, filed 14 November 2016: the filing.