Consolidated Edison (ED) FY2016 results: revenue $12.1 billion, down 3.8% on the year
Consolidated Edison Inc. (ED) reported revenue of $12.1 billion for fiscal 2016, the year ended 31 December 2016, down 3.8% on the year before. Net income was $1.2 billion, up 4.4%, and diluted earnings per share $4.12. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2017.
Revenue
$12.1 billion
-3.8% on the year
FY2009FY2016
Operating margin
23.0%
19.3% a year earlier
FY2009FY2016
Net income
$1.2 billion
+4.4% on the year
FY2009FY2016
Diluted EPS
$4.12
+1.7% 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
12,075
12,554
12,919
-3.8%
Research and development
24.0
23.0
22.0
+4.3%
Operating income
2,780
2,427
2,209
+14.5%
Operating margin
23.0%
19.3%
17.1%
Interest expense
678
632
587
+7.3%
Pre-tax income
1,943
1,798
1,660
+8.1%
Income tax
698
605
568
+15.4%
Effective tax rate
35.9%
33.6%
34.2%
Net income
1,245
1,193
1,092
+4.4%
Net margin
10.3%
9.5%
8.5%
Diluted EPS
$4.12
$4.05
$3.71
+1.7%
$ 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
3,459
3,277
2,831
+5.6%
Capital expenditure
5,235
492
180
+964.0%
Free cash flow
-1,776
2,785
2,651
Free cash flow margin
-14.7%
22.2%
20.5%
Cash from investing
-4,950
-3,657
-2,759
Cash from financing
1,345
629
-47.0
+113.8%
Depreciation and amortisation
1,216
1,130
1,071
+7.6%
Share-based compensation
50.0
34.0
29.0
+47.1%
Buybacks
n/a
-1.0
10.0
Dividends paid
763
733
739
+4.1%
Dividend per share
$2.68
$2.60
$2.52
+3.1%
Diluted shares, weighted
302m
294m
294m
+2.5%
Shares outstanding at period end
n/a
22m
22m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
14,298
13,052
12,576
+9.5%
Non-controlling interest
8.0
9.0
9.0
-11.1%
Debt
15,828
14,274
12,906
+10.9%
Other liabilities
18,121
18,307
18,580
-1.0%
Total liabilities and equity
48,255
45,642
44,071
+5.7%
Fixed assets
35,216
32,209
29,827
+9.3%
Goodwill
428
429
429
-0.2%
Intangible assets
124
2.0
3.0
+6,100.0%
Investments
1,921
884
816
+117.3%
Cash and equivalents
776
944
699
-17.8%
Receivables
1,106
1,052
1,201
+5.1%
Other assets
8,684
10,122
11,096
-14.2%
Total assets
48,255
45,642
44,071
+5.7%
10-K for the year ended 31 December 2016, filed 16 February 2017: the filing.