Fidelity National Financial (FNF) FY2017 results: revenue $7.7 billion, up 5.6% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $7.7 billion for fiscal 2017, the year ended 31 December 2017, up 5.6% on the year before. Net income was $771 million, up 18.6%. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$7.7 billion
+5.6% on the year
FY2010FY2017
Operating margin
11.3%
13.2% a year earlier
FY2010FY2017
Net income
$771 million
+18.6% on the year
FY2010FY2017
Diluted EPS
n/a
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
7,663
7,257
6,664
+5.6%
Operating income
864
955
770
-9.5%
Operating margin
11.3%
13.2%
11.6%
Interest expense
48.0
64.0
73.0
-25.0%
Pre-tax income
864
955
770
-9.5%
Income tax
235
347
274
-32.3%
Effective tax rate
27.2%
36.3%
35.6%
Net income
771
650
527
+18.6%
Net margin
10.1%
9.0%
7.9%
$ 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
737
1,162
951
-36.6%
Cash from investing
79.0
-191
-571
Cash from financing
-1,029
-428
-272
Depreciation and amortisation
389
431
410
-9.7%
Share-based compensation
44.0
58.0
56.0
-24.1%
Buybacks
23.0
276
498
-91.7%
Dividends paid
278
239
220
+16.3%
Shares outstanding at period end
274m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,447
5,996
5,754
-25.8%
Non-controlling interest
20.0
902
834
-97.8%
Redeemable equity
344
344
344
0.0%
Debt
759
987
2,793
-23.1%
Other liabilities
3,581
6,292
4,206
-43.1%
Total liabilities and equity
9,151
14,521
13,931
-37.0%
Fixed assets
193
192
510
+0.5%
Goodwill
2,746
2,555
2,348
+7.5%
Intangible assets
618
585
n/a
+5.6%
Securities held for sale or to maturity
1,816
2,407
2,558
-24.6%
Cash and equivalents
1,110
1,049
780
+5.8%
Other assets
2,668
7,733
7,735
-65.5%
Total assets
9,151
14,521
13,931
-37.0%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.