Firstenergy (FE) FY2016 results: revenue $10.7 billion, down 28.8% on the year
Firstenergy Corp. (FE) reported revenue of $10.7 billion for fiscal 2016, the year ended 31 December 2016, down 28.8% on the year before. Net income was -$6.2 billion, and diluted earnings per share $-14.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$10.7 billion
-28.8% on the year
FY2009FY2016
Operating margin
19.2%
15.3% a year earlier
FY2009FY2016
Net income
-$6.2 billion
FY2009FY2016
Diluted EPS
-$14.49
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
10,700
15,026
15,049
-28.8%
Operating income
2,054
2,292
1,062
-10.4%
Operating margin
19.2%
15.3%
7.1%
Interest expense
973
1,132
1,081
-14.0%
Pre-tax income
1,078
893
171
+20.7%
Income tax
527
315
-42.0
+67.3%
Effective tax rate
48.9%
35.3%
-24.6%
Net income
-6,177
578
299
Net margin
-57.7%
3.8%
2.0%
Diluted EPS
-$14.49
$1.37
$0.71
$ 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
3,383
3,460
2,713
-2.2%
Capital expenditure
2,835
2,704
3,312
+4.8%
Free cash flow
548
756
-599
-27.5%
Free cash flow margin
5.1%
5.0%
-4.0%
Cash from investing
-3,302
-3,122
-3,359
Cash from financing
-34.0
-292
513
Depreciation and amortisation
1,974
1,826
1,592
+8.1%
Share-based compensation
n/a
n/a
69.0
Dividends paid
611
607
604
+0.7%
Dividend per share
$1.44
$1.44
$1.44
0.0%
Diluted shares, weighted
426m
424m
421m
+0.5%
Shares outstanding at period end
442m
424m
421m
+4.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,241
12,421
12,420
-49.8%
Non-controlling interest
0.0
1.0
2.0
Debt
22,552
21,973
21,779
+2.6%
Other liabilities
14,355
17,792
17,351
-19.3%
Total liabilities and equity
43,148
52,187
51,552
-17.3%
Fixed assets
29,387
37,214
35,783
-21.0%
Goodwill
5,618
6,418
6,418
-12.5%
Intangible assets
120
331
496
-63.7%
Investments
3,026
2,788
3,222
+8.5%
Cash and equivalents
199
131
85.0
+51.9%
Receivables
1,440
1,415
1,554
+1.8%
Inventory
564
785
817
-28.2%
Other assets
2,794
3,105
3,177
-10.0%
Total assets
43,148
52,187
51,552
-17.3%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.