General Electric (GE) FY2017 results: revenue $99.3 billion, down 16.9% on the year
General Electric Co. (GE) reported revenue of $99.3 billion for fiscal 2017, the year ended 31 December 2017, down 16.9% on the year before. Net income was -$8.5 billion, and diluted earnings per share $-8.24. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$99.3 billion
-16.9% on the year
FY2010FY2017
Operating margin
-13.5%
2.4% a year earlier
FY2010FY2017
Net income
-$8.5 billion
FY2010FY2017
Diluted EPS
-$8.24
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
99,279
119,469
117,386
-16.9%
Cost of revenue
91,934
87,483
82,693
+5.1%
Gross profit
n/a
n/a
34,693
Gross margin
n/a
n/a
29.6%
Research and development
5,504
5,436
5,278
+1.3%
Selling, general and administrative
14,257
17,756
17,831
-19.7%
Operating income
-13,428
2,892
8,186
Operating margin
-13.5%
2.4%
7.0%
Pre-tax income
-11,345
7,031
8,186
Income tax
-2,808
-1,133
6,485
Effective tax rate
n/a
-16.1%
79.2%
Net income
-8,484
7,500
-6,126
Net margin
-8.5%
6.3%
-5.2%
Diluted EPS
-$8.24
$7.12
-$4.88
$ 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
6,554
1,160
19,891
+465.0%
Capital expenditure
6,642
7,199
7,309
-7.7%
Free cash flow
-88.0
-6,039
12,582
Free cash flow margin
-0.1%
-5.1%
10.7%
Cash from investing
5,379
49,202
59,488
-89.1%
Cash from financing
-18,484
-90,464
-76,054
Depreciation and amortisation
7,429
7,073
6,499
+5.0%
Buybacks
n/a
-22,581
-2,709
Dividends paid
8,650
8,806
9,295
-1.8%
Dividend per share
$6.72
$7.44
$7.36
-9.7%
Diluted shares, weighted
1,086m
1,141m
1,252m
-4.9%
Shares outstanding at period end
1,085m
1,093m
1,172m
-0.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
56,031
70,162
98,274
-20.1%
Non-controlling interest
17,468
1,663
1,864
+950.4%
Redeemable equity
3,391
3,017
2,962
+12.4%
Debt
134,591
136,210
197,602
-1.2%
Other liabilities
157,764
148,070
191,990
+6.5%
Total liabilities and equity
369,245
359,122
492,692
+2.8%
Fixed assets
53,874
50,518
54,095
+6.6%
Goodwill
58,821
70,438
65,526
-16.5%
Intangible assets
20,273
16,436
17,797
+23.3%
Trading assets
98.0
17.0
n/a
+476.5%
Cash and equivalents
43,299
48,129
70,483
-10.0%
Receivables
24,209
24,076
27,022
+0.6%
Inventory
19,419
22,354
22,515
-13.1%
Other assets
149,252
127,154
235,254
+17.4%
Total assets
369,245
359,122
492,692
+2.8%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.