Horace Mann Educators (HMN) FY2016 results: revenue $1.1 billion, up 4.5% on the year
Horace Mann Educators Corp. (HMN) reported revenue of $1.1 billion for fiscal 2016, the year ended 31 December 2016, up 4.5% on the year before. Net income was $84 million, down 10.4%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$1.1 billion
+4.5% on the year
FY2009FY2016
Operating margin
10.1%
12.0% a year earlier
FY2009FY2016
Net income
$84 million
-10.4% on the year
FY2009FY2016
Diluted EPS
$2.02
-8.2% on the year
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
1,129
1,080
1,061
+4.5%
Operating income
114
129
146
-11.8%
Operating margin
10.1%
12.0%
13.8%
Interest expense
11.8
13.1
14.2
-10.0%
Pre-tax income
114
129
146
-11.8%
Income tax
30.5
36.0
41.9
-15.3%
Effective tax rate
26.7%
27.8%
28.7%
Net income
83.8
93.5
104
-10.4%
Net margin
7.4%
8.7%
9.8%
Diluted EPS
$2.02
$2.20
$2.47
-8.2%
$ 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
211
208
222
+1.8%
Cash from investing
-325
-416
-566
Cash from financing
115
212
337
-45.7%
Depreciation and amortisation
6.9
7.7
8.0
-10.8%
Share-based compensation
1.2
1.3
1.3
-6.1%
Dividends paid
44.3
42.5
39.2
+4.2%
Dividend per share
$1.06
$1.00
$0.92
+6.0%
Diluted shares, weighted
41m
42m
42m
-2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,294
1,265
1,336
+2.3%
Debt
247
247
200
+0.1%
Other liabilities
9,036
8,548
8,232
+5.7%
Total liabilities and equity
10,577
10,059
9,769
+5.1%
Fixed assets
32.2
25.6
31.0
+25.5%
Goodwill
47.4
47.4
47.4
0.0%
Securities held for sale or to maturity
7,457
7,091
6,893
+5.2%
Cash and equivalents
16.7
15.5
11.7
+7.5%
Other assets
3,024
2,879
2,785
+5.0%
Total assets
10,577
10,059
9,769
+5.1%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.