Fidelity National Financial (FNF) FY2015 results: revenue $6.7 billion, down 16.9% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $6.7 billion for fiscal 2015, the year ended 31 December 2015, down 16.9% on the year before. Net income was $527 million, down 9.6%. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$6.7 billion
-16.9% on the year
FY2008FY2015
Operating margin
11.6%
4.9% a year earlier
FY2008FY2015
Net income
$527 million
-9.6% on the year
FY2008FY2015
Diluted EPS
n/a
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
6,664
8,024
7,440
-16.9%
Operating income
770
392
616
+96.4%
Operating margin
11.6%
4.9%
8.3%
Interest expense
73.0
127
73.0
-42.5%
Pre-tax income
770
392
616
+96.4%
Income tax
274
312
195
-12.2%
Effective tax rate
35.6%
79.6%
31.7%
Net income
527
583
394
-9.6%
Net margin
7.9%
7.3%
5.3%
Diluted EPS
n/a
n/a
$1.71
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
951
594
484
+60.1%
Capital expenditure
n/a
210
145
Free cash flow
n/a
384
339
Free cash flow margin
n/a
4.8%
4.6%
Cash from investing
-571
-2,720
-60.0
Cash from financing
-272
1,060
340
Depreciation and amortisation
410
476
209
-13.9%
Share-based compensation
56.0
51.0
35.0
+9.8%
Buybacks
498
2.0
34.0
+24,800.0%
Dividends paid
220
203
153
+8.4%
Dividend per share
n/a
n/a
$0.66
Diluted shares, weighted
n/a
138m
235m
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,754
5,994
5,068
-4.0%
Non-controlling interest
834
79.0
474
+955.7%
Redeemable equity
344
715
0.0
-51.9%
Deposits
n/a
622
588
Debt
2,793
2,803
1,323
-0.4%
Other liabilities
4,206
3,655
3,071
+15.1%
Total liabilities and equity
13,931
13,868
10,524
+0.5%
Fixed assets
510
635
645
-19.7%
Goodwill
2,348
4,721
1,901
-50.3%
Intangible assets
n/a
1,133
619
Securities held for sale or to maturity
2,558
3,025
2,959
-15.4%
Cash and equivalents
780
700
1,969
+11.4%
Other assets
7,735
3,654
2,431
+111.7%
Total assets
13,931
13,868
10,524
+0.5%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.