Fiserv (FISV) FY2016 results: revenue $5.5 billion, up 4.8% on the year
Fiserv Inc. (FISV) reported revenue of $5.5 billion for fiscal 2016, the year ended 31 December 2016, up 4.8% on the year before. Net income was $930 million, up 30.6%, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$5.5 billion
+4.8% on the year
FY2009FY2016
Operating margin
26.2%
25.0% a year earlier
FY2009FY2016
Net income
$930 million
+30.6% on the year
FY2009FY2016
Diluted EPS
$2.08
+38.8% 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
5,505
5,254
5,066
+4.8%
Cost of revenue
2,959
2,909
2,881
+1.7%
Gross profit
2,546
2,345
2,185
+8.6%
Gross margin
46.2%
44.6%
43.1%
Selling, general and administrative
1,101
1,034
975
+6.5%
Operating income
1,445
1,311
1,210
+10.2%
Operating margin
26.2%
25.0%
23.9%
Interest expense
163
170
164
-4.1%
Pre-tax income
1,275
1,057
1,047
+20.6%
Income tax
492
377
384
+30.5%
Effective tax rate
38.6%
35.7%
36.7%
Net income
930
712
754
+30.6%
Net margin
16.9%
13.6%
14.9%
Diluted EPS
$2.08
$1.50
$1.49
+38.8%
$ 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
1,431
1,346
n/a
+6.3%
Capital expenditure
290
359
292
-19.2%
Free cash flow
1,141
987
n/a
+15.6%
Free cash flow margin
20.7%
18.8%
n/a
Depreciation and amortisation
421
417
404
+1.0%
Share-based compensation
68.0
65.0
49.0
+4.6%
Buybacks
1,245
1,522
1,148
-18.2%
Diluted shares, weighted
448m
476m
505m
-5.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,541
2,660
3,295
-4.5%
Debt
4,562
4,288
3,790
+6.4%
Other liabilities
2,640
2,392
2,223
+10.4%
Total liabilities and equity
9,743
9,340
9,308
+4.3%
Fixed assets
405
396
317
+2.3%
Goodwill
5,373
5,200
5,209
+3.3%
Intangible assets
1,833
1,872
2,003
-2.1%
Cash and equivalents
300
n/a
n/a
Receivables
902
802
798
+12.5%
Other assets
930
1,070
981
-13.1%
Total assets
9,743
9,340
9,308
+4.3%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.