Expeditors International of Washington (EXPD) FY2016 results: revenue $6.1 billion, down 7.8% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.1 billion for fiscal 2016, the year ended 31 December 2016, down 7.8% on the year before. Net income was $431 million, down 5.8%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$6.1 billion
-7.8% on the year
FY2009FY2016
Operating margin
11.0%
10.9% a year earlier
FY2009FY2016
Net income
$431 million
-5.8% on the year
FY2009FY2016
Diluted EPS
$2.36
-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
6,098
6,617
6,565
-7.8%
Operating income
670
721
595
-7.1%
Operating margin
11.0%
10.9%
9.1%
Pre-tax income
687
737
611
-6.8%
Income tax
254
277
231
-8.3%
Effective tax rate
37.0%
37.6%
37.9%
Net income
431
457
377
-5.8%
Net margin
7.1%
6.9%
5.7%
Diluted EPS
$2.36
$2.40
$1.92
-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
529
567
395
-6.6%
Capital expenditure
59.3
44.4
37.5
+33.6%
Free cash flow
470
522
357
-10.0%
Free cash flow margin
7.7%
7.9%
5.4%
Cash from investing
-53.2
-7.4
-78.9
Cash from financing
-298
-637
-606
Depreciation and amortisation
46.8
46.0
49.3
+1.7%
Share-based compensation
45.2
43.4
42.5
+4.2%
Buybacks
338
630
551
-46.4%
Dividends paid
145
136
125
+7.0%
Dividend per share
$0.80
$0.72
$0.64
+11.1%
Diluted shares, weighted
183m
190m
197m
-4.0%
Shares outstanding at period end
180m
182m
192m
-1.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,845
1,692
1,868
+9.0%
Non-controlling interest
2.6
2.7
3.2
-4.0%
Debt
0.0
0.0
0.0
Other liabilities
944
871
999
+8.4%
Total liabilities and equity
2,791
2,566
2,871
+8.8%
Fixed assets
537
525
538
+2.3%
Goodwill
7.9
7.9
7.9
0.0%
Investments
n/a
0.0
40.3
Cash and equivalents
974
808
927
+20.6%
Receivables
1,190
1,112
1,236
+7.0%
Other assets
81.8
113
121
-27.5%
Total assets
2,791
2,566
2,871
+8.8%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.