Berkshire Hathaway (BRK.B) FY2017 results: revenue $239.9 billion, up 11.5% on the year
Berkshire Hathaway Inc. (BRK.B) reported revenue of $239.9 billion for fiscal 2017, the year ended 31 December 2017, up 11.5% on the year before. Net income was $44.9 billion, up 86.7%, and diluted earnings per share $18.22. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$239.9 billion
+11.5% on the year
FY2010FY2017
Operating margin
7.8%
11.3% a year earlier
FY2010FY2017
Net income
$44.9 billion
+86.7% on the year
FY2010FY2017
Diluted EPS
$18.22
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
239,933
215,114
210,821
+11.5%
Operating income
18,696
24,254
34,946
-22.9%
Operating margin
7.8%
11.3%
16.6%
Interest expense
4,386
3,741
3,515
+17.2%
Pre-tax income
23,838
33,667
34,946
-29.2%
Income tax
-21,515
9,240
10,532
Effective tax rate
-90.3%
27.4%
30.1%
Net income
44,940
24,074
24,083
+86.7%
Net margin
18.7%
11.2%
11.4%
Diluted EPS
$18.22
n/a
n/a
$ 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
45,776
32,647
31,491
+40.2%
Capital expenditure
11,708
12,954
16,082
-9.6%
Free cash flow
34,068
19,693
15,409
+73.0%
Free cash flow margin
14.2%
9.2%
7.3%
Cash from investing
-41,091
-84,267
-28,001
Cash from financing
-1,398
12,791
3,803
Depreciation and amortisation
9,188
8,901
7,779
+3.2%
Diluted shares, weighted
2,467m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
348,296
282,070
255,550
+23.5%
Non-controlling interest
3,658
3,358
3,077
+8.9%
Other liabilities
350,141
335,426
293,630
+4.4%
Total liabilities and equity
702,095
620,854
552,257
+13.1%
Goodwill
81,258
79,486
62,708
+2.2%
Securities held for sale or to maturity
21,353
23,465
26,027
-9.0%
Loans
13,748
n/a
n/a
Cash and equivalents
31,583
28,048
67,161
+12.6%
Inventory
17,366
15,727
11,916
+10.4%
Other assets
536,787
474,128
384,445
+13.2%
Total assets
702,095
620,854
552,257
+13.1%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.