Cboe Global Markets (CBOE) FY2016 results: revenue $703 million, up 5.9% on the year
Cboe Global Markets, Inc. (CBOE) reported revenue of $703 million for fiscal 2016, the year ended 31 December 2016, up 5.9% on the year before. Net income was $187 million, down 8.9%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$703 million
+5.9% on the year
FY2009FY2016
Operating margin
42.4%
48.2% a year earlier
FY2009FY2016
Net income
$187 million
-8.9% on the year
FY2009FY2016
Diluted EPS
$2.27
-7.7% 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
703
664
617
+5.9%
Cost of revenue
137
102
n/a
+33.9%
Gross profit
566
562
n/a
+0.8%
Gross margin
80.6%
84.6%
n/a
Operating income
298
320
314
-6.8%
Operating margin
42.4%
48.2%
50.8%
Interest expense
5.7
0.0
0.0
+13,155.8%
Pre-tax income
307
324
310
-5.4%
Income tax
121
119
120
+1.6%
Effective tax rate
39.4%
36.7%
38.7%
Net income
187
205
190
-8.9%
Net margin
26.6%
30.9%
30.7%
Diluted EPS
$2.27
$2.46
$2.21
-7.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
230
245
263
-6.4%
Capital expenditure
44.4
39.3
50.2
+13.0%
Free cash flow
185
206
213
-10.1%
Free cash flow margin
26.3%
31.0%
34.4%
Cash from investing
-84.4
-79.4
n/a
Cash from financing
-150
-212
n/a
Depreciation and amortisation
44.4
46.3
39.9
-4.1%
Share-based compensation
14.5
12.2
15.6
+19.1%
Buybacks
60.5
132
168
-54.2%
Dividends paid
78.5
73.4
67.0
+6.9%
Dividend per share
$0.96
$0.88
$0.78
+9.1%
Diluted shares, weighted
81m
83m
85m
-2.0%
Shares outstanding at period end
81m
82m
84m
-1.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
318
260
250
+22.5%
Redeemable equity
12.6
0.0
0.0
Debt
0.0
0.0
0.0
Other liabilities
146
125
134
+16.7%
Total liabilities and equity
477
385
384
+23.9%
Fixed assets
55.9
60.4
66.9
-7.3%
Goodwill
26.5
7.7
0.0
+243.7%
Intangible assets
8.7
2.4
0.0
+262.5%
Investments
0.0
n/a
n/a
Cash and equivalents
97.3
102
148
-4.8%
Receivables
76.7
62.5
58.4
+22.7%
Other assets
212
150
111
+41.4%
Total assets
477
385
384
+23.9%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.