General Electric (GE) FY2016 results: revenue $119.5 billion, up 1.8% on the year
General Electric Co. (GE) reported revenue of $119.5 billion for fiscal 2016, the year ended 31 December 2016, up 1.8% on the year before. Net income was $7.5 billion, and diluted earnings per share $7.12. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$119.5 billion
+1.8% on the year
FY2009FY2016
Operating margin
2.4%
7.0% a year earlier
FY2009FY2016
Net income
$7.5 billion
FY2009FY2016
Diluted EPS
$7.12
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
119,469
117,386
117,184
+1.8%
Cost of revenue
87,483
82,693
83,704
+5.8%
Gross profit
n/a
34,693
33,480
Gross margin
n/a
29.6%
28.6%
Research and development
5,436
5,278
5,273
+3.0%
Selling, general and administrative
17,756
17,831
16,848
-0.4%
Operating income
2,892
8,186
10,263
-64.7%
Operating margin
2.4%
7.0%
8.8%
Pre-tax income
7,031
8,186
10,263
-14.1%
Income tax
-1,133
6,485
773
Effective tax rate
-16.1%
79.2%
7.5%
Net income
7,500
-6,126
15,233
Net margin
6.3%
-5.2%
13.0%
Diluted EPS
$7.12
-$4.88
$12.00
$ 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
1,160
19,891
27,710
-94.2%
Capital expenditure
7,199
7,309
7,134
-1.5%
Free cash flow
-6,039
12,582
20,576
Free cash flow margin
-5.1%
10.7%
17.6%
Cash from investing
49,202
59,488
-5,030
-17.3%
Cash from financing
-90,464
-76,054
-16,958
Depreciation and amortisation
7,073
6,499
6,421
+8.8%
Buybacks
-22,581
-2,709
-2,211
Dividends paid
8,806
9,295
8,851
-5.3%
Dividend per share
$7.44
$7.36
$7.12
+1.1%
Diluted shares, weighted
1,141m
1,252m
1,265m
-8.8%
Shares outstanding at period end
1,093m
1,172m
1,257m
-6.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
70,162
98,274
128,159
-28.6%
Non-controlling interest
1,663
1,864
8,674
-10.8%
Redeemable equity
3,017
2,962
98.0
+1.9%
Deposits
n/a
n/a
43,841
Debt
136,210
197,602
261,424
-31.1%
Other liabilities
148,070
191,990
211,735
-22.9%
Total liabilities and equity
359,122
492,692
653,931
-27.1%
Fixed assets
50,518
54,095
48,070
-6.6%
Goodwill
70,438
65,526
53,207
+7.5%
Intangible assets
16,436
17,797
13,182
-7.6%
Trading assets
17.0
n/a
n/a
Cash and equivalents
48,129
70,483
n/a
-31.7%
Receivables
24,076
27,022
23,237
-10.9%
Inventory
22,354
22,515
17,689
-0.7%
Other assets
127,154
235,254
498,546
-46.0%
Total assets
359,122
492,692
653,931
-27.1%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.