Fiserv (FISV) FY2017 results: revenue $5.7 billion, up 3.5% on the year
Fiserv Inc. (FISV) reported revenue of $5.7 billion for fiscal 2017, the year ended 31 December 2017, up 3.5% on the year before. Net income was $1.2 billion, up 34.0%, and diluted earnings per share $2.89. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$5.7 billion
+3.5% on the year
FY2010FY2017
Operating margin
26.9%
26.2% a year earlier
FY2010FY2017
Net income
$1.2 billion
+34.0% on the year
FY2010FY2017
Diluted EPS
$2.89
+39.3% 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
5,696
5,505
5,254
+3.5%
Cost of revenue
3,024
2,959
2,909
+2.2%
Gross profit
2,672
2,546
2,345
+4.9%
Gross margin
46.9%
46.2%
44.6%
Selling, general and administrative
1,150
1,101
1,034
+4.5%
Operating income
1,532
1,445
1,311
+6.0%
Operating margin
26.9%
26.2%
25.0%
Interest expense
176
163
170
+8.0%
Pre-tax income
1,358
1,275
1,057
+6.5%
Income tax
158
492
377
-67.9%
Effective tax rate
11.6%
38.6%
35.7%
Net income
1,246
930
712
+34.0%
Net margin
21.9%
16.9%
13.6%
Diluted EPS
$2.89
$2.08
$1.50
+39.3%
$ 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
1,502
1,431
1,346
+5.0%
Capital expenditure
287
290
359
-1.0%
Free cash flow
1,215
1,141
987
+6.5%
Free cash flow margin
21.3%
20.7%
18.8%
Depreciation and amortisation
444
421
417
+5.5%
Share-based compensation
63.0
68.0
65.0
-7.4%
Buybacks
1,223
1,245
1,522
-1.8%
Diluted shares, weighted
431m
448m
476m
-3.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,731
2,541
2,660
+7.5%
Debt
4,897
4,562
4,288
+7.3%
Other liabilities
2,661
2,640
2,392
+0.8%
Total liabilities and equity
10,289
9,743
9,340
+5.6%
Fixed assets
390
405
396
-3.7%
Goodwill
5,590
5,373
5,200
+4.0%
Intangible assets
1,882
1,833
1,872
+2.7%
Cash and equivalents
325
300
n/a
+8.3%
Receivables
997
902
802
+10.5%
Other assets
1,105
930
1,070
+18.8%
Total assets
10,289
9,743
9,340
+5.6%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.