Consolidated Edison (ED) FY2015 results: revenue $12.6 billion, down 2.8% on the year
Consolidated Edison Inc. (ED) reported revenue of $12.6 billion for fiscal 2015, the year ended 31 December 2015, down 2.8% on the year before. Net income was $1.2 billion, up 9.2%, and diluted earnings per share $4.05. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2016.
Revenue
$12.6 billion
-2.8% on the year
FY2009FY2015
Operating margin
19.3%
17.1% a year earlier
FY2009FY2015
Net income
$1.2 billion
+9.2% on the year
FY2009FY2015
Diluted EPS
$4.05
+9.2% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
12,554
12,919
12,354
-2.8%
Research and development
23.0
22.0
18.0
+4.5%
Operating income
2,427
2,209
2,244
+9.9%
Operating margin
19.3%
17.1%
18.2%
Interest expense
632
587
719
+7.7%
Pre-tax income
1,798
1,660
1,538
+8.3%
Income tax
605
568
476
+6.5%
Effective tax rate
33.6%
34.2%
30.9%
Net income
1,193
1,092
1,062
+9.2%
Net margin
9.5%
8.5%
8.6%
Diluted EPS
$4.05
$3.71
$3.61
+9.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,277
2,831
2,552
+15.8%
Capital expenditure
492
180
199
+173.3%
Free cash flow
2,785
2,651
2,353
+5.1%
Free cash flow margin
22.2%
20.5%
19.0%
Cash from investing
-3,657
-2,759
-2,659
Cash from financing
629
-47.0
387
Depreciation and amortisation
1,130
1,071
1,024
+5.5%
Share-based compensation
34.0
29.0
n/a
+17.2%
Buybacks
-1.0
10.0
8.0
Dividends paid
733
739
721
-0.8%
Dividend per share
$2.60
$2.52
$2.46
+3.2%
Diluted shares, weighted
294m
294m
294m
+0.1%
Shares outstanding at period end
22m
22m
22m
0.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
13,052
12,576
12,245
+3.8%
Non-controlling interest
9.0
9.0
n/a
0.0%
Debt
14,274
12,906
12,425
+10.6%
Other liabilities
18,307
18,580
15,781
-1.5%
Total liabilities and equity
45,642
44,071
40,451
+3.6%
Fixed assets
32,209
29,827
28,436
+8.0%
Goodwill
429
429
429
0.0%
Intangible assets
2.0
3.0
4.0
-33.3%
Investments
884
816
461
+8.3%
Cash and equivalents
944
699
674
+35.1%
Receivables
1,052
1,201
1,251
-12.4%
Other assets
10,122
11,096
9,196
-8.8%
Total assets
45,642
44,071
40,451
+3.6%
10-K for the year ended 31 December 2015, filed 18 February 2016: the filing.