Consolidated Edison (ED) FY2017 results: revenue $12.0 billion, down 0.3% on the year
Consolidated Edison Inc. (ED) reported revenue of $12.0 billion for fiscal 2017, the year ended 31 December 2017, down 0.3% on the year before. Net income was $1.5 billion, up 22.5%, and diluted earnings per share $4.94. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$12.0 billion
-0.3% on the year
FY2010FY2017
Operating margin
23.1%
23.0% a year earlier
FY2010FY2017
Net income
$1.5 billion
+22.5% on the year
FY2010FY2017
Diluted EPS
$4.94
+19.9% 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
12,033
12,075
12,554
-0.3%
Research and development
24.0
24.0
23.0
0.0%
Operating income
2,774
2,780
2,427
-0.2%
Operating margin
23.1%
23.0%
19.3%
Interest expense
729
678
632
+7.5%
Pre-tax income
1,997
1,943
1,798
+2.8%
Income tax
472
698
605
-32.4%
Effective tax rate
23.6%
35.9%
33.6%
Net income
1,525
1,245
1,193
+22.5%
Net margin
12.7%
10.3%
9.5%
Diluted EPS
$4.94
$4.12
$4.05
+19.9%
$ 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
3,367
3,459
3,277
-2.7%
Capital expenditure
3,606
5,235
492
-31.1%
Free cash flow
-239
-1,776
2,785
Free cash flow margin
-2.0%
-14.7%
22.2%
Cash from investing
-3,703
-4,950
-3,657
Cash from financing
357
1,345
629
-73.5%
Depreciation and amortisation
1,341
1,216
1,130
+10.3%
Share-based compensation
63.0
50.0
34.0
+26.0%
Buybacks
n/a
n/a
-1.0
Dividends paid
803
763
733
+5.2%
Dividend per share
$2.76
$2.68
$2.60
+3.0%
Diluted shares, weighted
309m
302m
294m
+2.3%
Shares outstanding at period end
n/a
n/a
22m
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
15,418
14,298
13,052
+7.8%
Non-controlling interest
7.0
8.0
9.0
-12.5%
Debt
16,606
15,828
14,274
+4.9%
Other liabilities
16,080
18,121
18,307
-11.3%
Total liabilities and equity
48,111
48,255
45,642
-0.3%
Fixed assets
37,600
35,216
32,209
+6.8%
Goodwill
428
428
429
0.0%
Intangible assets
131
124
2.0
+5.6%
Investments
2,001
1,921
884
+4.2%
Cash and equivalents
797
776
944
+2.7%
Receivables
1,103
1,106
1,052
-0.3%
Other assets
6,051
8,684
10,122
-30.3%
Total assets
48,111
48,255
45,642
-0.3%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.