Fidelity National Financial (FNF) FY2016 results: revenue $7.3 billion, up 8.9% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $7.3 billion for fiscal 2016, the year ended 31 December 2016, up 8.9% on the year before. Net income was $650 million, up 23.3%. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$7.3 billion
+8.9% on the year
FY2009FY2016
Operating margin
13.2%
11.6% a year earlier
FY2009FY2016
Net income
$650 million
+23.3% on the year
FY2009FY2016
Diluted EPS
n/a
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
7,257
6,664
8,024
+8.9%
Operating income
955
770
392
+24.0%
Operating margin
13.2%
11.6%
4.9%
Interest expense
64.0
73.0
127
-12.3%
Pre-tax income
955
770
392
+24.0%
Income tax
347
274
312
+26.6%
Effective tax rate
36.3%
35.6%
79.6%
Net income
650
527
583
+23.3%
Net margin
9.0%
7.9%
7.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,162
951
594
+22.2%
Capital expenditure
n/a
n/a
210
Free cash flow
n/a
n/a
384
Free cash flow margin
n/a
n/a
4.8%
Cash from investing
-191
-571
-2,720
Cash from financing
-428
-272
1,060
Depreciation and amortisation
431
410
476
+5.1%
Share-based compensation
58.0
56.0
51.0
+3.6%
Buybacks
276
498
2.0
-44.6%
Dividends paid
239
220
203
+8.6%
Diluted shares, weighted
n/a
n/a
138m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,996
5,754
5,994
+4.2%
Non-controlling interest
902
834
79.0
+8.2%
Redeemable equity
344
344
715
0.0%
Deposits
n/a
n/a
622
Debt
987
2,793
2,803
-64.7%
Other liabilities
6,292
4,206
3,655
+49.6%
Total liabilities and equity
14,521
13,931
13,868
+4.2%
Fixed assets
192
510
635
-62.4%
Goodwill
2,555
2,348
4,721
+8.8%
Intangible assets
585
n/a
1,133
Securities held for sale or to maturity
2,407
2,558
3,025
-5.9%
Cash and equivalents
1,049
780
700
+34.5%
Other assets
7,733
7,735
3,654
-0.0%
Total assets
14,521
13,931
13,868
+4.2%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.