BGC Group (BGC) FY2016 results: revenue $1.6 billion, down 44.2% on the year
BGC Group, Inc. (BGC) reported revenue of $1.6 billion for fiscal 2016, the year ended 31 December 2016, down 44.2% on the year before. Net income was $185 million, up 15.7%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$1.6 billion
-44.2% on the year
FY2009FY2016
Operating margin
1.8%
-2.9% a year earlier
FY2009FY2016
Net income
$185 million
+15.7% on the year
FY2009FY2016
Diluted EPS
$0.67
+34.0% 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
1,554
2,784
1,787
-44.2%
Operating income
27.9
-80.9
-57.3
Operating margin
1.8%
-2.9%
-3.2%
Interest expense
57.6
79.0
37.9
-27.1%
Pre-tax income
120
439
-13.8
-72.5%
Income tax
56.3
120
0.7
-53.2%
Effective tax rate
46.8%
27.5%
n/a
Net income
185
160
-3.0
+15.7%
Net margin
11.9%
5.7%
-0.2%
Diluted EPS
$0.67
$0.50
-$0.01
+34.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Capital expenditure
17.8
39.0
14.1
-54.3%
Depreciation and amortisation
62.5
84.1
46.1
-25.6%
Buybacks
96.0
12.1
100
+692.7%
Dividends paid
171
131
105
+30.0%
Dividend per share
$0.62
$0.54
$0.48
+14.8%
Diluted shares, weighted
277m
335m
221m
-17.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,184
634
402
+86.6%
Non-controlling interest
450
598
180
-24.7%
Redeemable equity
52.6
57.1
59.5
-8.0%
Debt
1,914
841
707
+127.6%
Other liabilities
1,448
1,853
1,403
-21.9%
Total liabilities and equity
5,048
3,983
2,751
+26.7%
Fixed assets
167
148
112
+13.4%
Goodwill
451
812
393
-44.4%
Intangible assets
253
234
28.0
+8.2%
Securities borrowed
n/a
0.0
62.7
Trading assets
155
645
n/a
-76.0%
Cash and equivalents
536
563
711
-4.9%
Other assets
3,486
1,581
1,445
+120.4%
Total assets
5,048
3,983
2,751
+26.7%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.