Broadridge Financial Solutions (BR) FY2016 results: revenue $2.9 billion, up 7.5% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $2.9 billion for fiscal 2016, the year ended 30 June 2016, up 7.5% on the year before. Net income was $308 million, up 7.1%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 9 August 2016.
Revenue
$2.9 billion
+7.5% on the year
FY2009FY2016
Operating margin
17.3%
16.3% a year earlier
FY2009FY2016
Net income
$308 million
+7.1% on the year
FY2009FY2016
Diluted EPS
$2.53
+9.1% 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
2,897
2,694
2,558
+7.5%
Cost of revenue
1,976
1,828
1,761
+8.1%
Gross profit
921
866
797
+6.4%
Gross margin
31.8%
32.1%
31.1%
Selling, general and administrative
421
399
378
+5.5%
Operating income
500
439
396
+14.0%
Operating margin
17.3%
16.3%
15.5%
Interest expense
28.4
25.4
n/a
+11.8%
Pre-tax income
469
439
396
+6.8%
Income tax
161
152
132
+6.3%
Effective tax rate
34.4%
34.6%
33.5%
Net income
308
287
263
+7.1%
Net margin
10.6%
10.7%
10.3%
Diluted EPS
$2.53
$2.32
$2.12
+9.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
438
431
388
+1.5%
Capital expenditure
57.7
50.3
40.3
+14.7%
Free cash flow
380
381
347
-0.3%
Free cash flow margin
13.1%
14.1%
13.6%
Cash from investing
-137
n/a
n/a
Cash from financing
109
n/a
n/a
Depreciation and amortisation
52.6
49.3
46.8
+6.7%
Share-based compensation
43.1
38.6
34.6
+11.7%
Buybacks
120
302
130
-60.3%
Dividends paid
138
122
96.7
+13.0%
Dividend per share
$1.20
$1.08
$0.84
+11.1%
Diluted shares, weighted
122m
124m
124m
-1.9%
Shares outstanding at period end
118m
118m
120m
+0.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,046
928
962
+12.7%
Debt
1,016
689
524
+47.3%
Other liabilities
812
751
706
+8.1%
Total liabilities and equity
2,873
2,368
2,192
+21.3%
Fixed assets
112
97.3
88.3
+15.3%
Goodwill
999
970
856
+3.0%
Intangible assets
210
196
130
+7.5%
Investments
48.6
33.4
25.3
+45.5%
Cash and equivalents
728
324
348
+124.5%
Inventory
8.2
6.5
6.7
+26.2%
Other assets
766
741
738
+3.5%
Total assets
2,873
2,368
2,192
+21.3%
10-K for the year ended 30 June 2016, filed 9 August 2016: the filing.