Broadridge Financial Solutions (BR) FY2017 results: revenue $4.1 billion, up 43.0% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $4.1 billion for fiscal 2017, the year ended 30 June 2017, up 43.0% on the year before. Net income was $327 million, up 6.3%, and diluted earnings per share $2.70. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2017.
Revenue
$4.1 billion
+43.0% on the year
FY2010FY2017
Operating margin
12.8%
17.3% a year earlier
FY2010FY2017
Net income
$327 million
+6.3% on the year
FY2010FY2017
Diluted EPS
$2.70
+6.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,143
2,897
2,694
+43.0%
Cost of revenue
3,110
1,976
1,828
+57.4%
Gross profit
1,033
921
866
+12.1%
Gross margin
24.9%
31.8%
32.1%
Selling, general and administrative
501
421
399
+19.1%
Operating income
532
500
439
+6.3%
Operating margin
12.8%
17.3%
16.3%
Interest expense
44.7
28.4
25.4
+57.4%
Pre-tax income
488
469
439
+4.1%
Income tax
161
161
152
0.0%
Effective tax rate
33.1%
34.4%
34.6%
Net income
327
308
287
+6.3%
Net margin
7.9%
10.6%
10.7%
Diluted EPS
$2.70
$2.53
$2.32
+6.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
516
438
431
+17.9%
Capital expenditure
85.4
57.7
50.3
+48.0%
Free cash flow
430
380
381
+13.3%
Free cash flow margin
10.4%
13.1%
14.1%
Cash from investing
-659
-137
n/a
Cash from financing
-312
109
n/a
Depreciation and amortisation
68.6
52.6
49.3
+30.4%
Share-based compensation
46.1
43.1
38.6
+7.0%
Buybacks
343
120
302
+186.1%
Dividends paid
152
138
122
+10.1%
Dividend per share
$1.32
$1.20
$1.08
+10.0%
Diluted shares, weighted
121m
122m
124m
-0.7%
Shares outstanding at period end
116m
118m
118m
-1.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,004
1,046
928
-4.0%
Debt
1,102
1,016
689
+8.5%
Other liabilities
1,044
812
751
+28.6%
Total liabilities and equity
3,150
2,873
2,368
+9.6%
Fixed assets
198
112
97.3
+76.6%
Goodwill
1,159
999
970
+16.0%
Intangible assets
486
210
196
+131.3%
Investments
63.5
48.6
33.4
+30.7%
Cash and equivalents
271
728
324
-62.7%
Inventory
17.2
8.2
6.5
+109.8%
Other assets
954
766
741
+24.5%
Total assets
3,150
2,873
2,368
+9.6%
10-K for the year ended 30 June 2017, filed 10 August 2017: the filing.