Intercontinental Exchange (ICE) FY2016 results: revenue $6.0 billion, up 27.5% on the year
Intercontinental Exchange, Inc. (ICE) reported revenue of $6.0 billion for fiscal 2016, the year ended 31 December 2016, up 27.5% on the year before. Net income was $1.4 billion, up 12.2%, and diluted earnings per share $2.39. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2017.
Revenue
$6.0 billion
+27.5% on the year
FY2011FY2016
Operating margin
36.4%
37.4% a year earlier
FY2011FY2016
Net income
$1.4 billion
+12.2% on the year
FY2011FY2016
Diluted EPS
$2.39
+4.9% on the year
FY2011FY2016
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
5,971
4,682
4,352
+27.5%
Selling, general and administrative
116
116
143
0.0%
Operating income
2,172
1,750
1,448
+24.1%
Operating margin
36.4%
37.4%
33.3%
Interest expense
178
97.0
96.0
+83.5%
Pre-tax income
2,043
1,653
1,407
+23.6%
Income tax
586
358
402
+63.7%
Effective tax rate
28.7%
21.7%
28.6%
Net income
1,430
1,274
981
+12.2%
Net margin
23.9%
27.2%
22.5%
Diluted EPS
$2.39
$2.28
$1.71
+4.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,149
1,311
1,463
+63.9%
Capital expenditure
250
190
172
+31.6%
Free cash flow
1,899
1,121
1,291
+69.4%
Free cash flow margin
31.8%
23.9%
29.7%
Cash from investing
-860
-3,004
36.0
Cash from financing
-1,462
1,976
-1,673
Depreciation and amortisation
610
374
333
+63.1%
Share-based compensation
124
111
97.0
+11.7%
Buybacks
50.0
660
645
-92.4%
Dividends paid
409
331
299
+23.6%
Dividend per share
$0.68
$0.58
$0.52
+17.2%
Diluted shares, weighted
599m
560m
575m
+7.0%
Shares outstanding at period end
594m
595m
565m
-0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
15,717
14,808
12,360
+6.1%
Non-controlling interest
37.0
32.0
32.0
+15.6%
Redeemable equity
36.0
35.0
165
+2.9%
Short-term borrowings
2,493
2,591
n/a
-3.8%
Debt
6,364
7,308
4,289
-12.9%
Other liabilities
57,356
53,213
51,433
+7.8%
Total liabilities and equity
82,003
77,987
68,279
+5.1%
Fixed assets
1,129
1,037
874
+8.9%
Goodwill
12,291
12,079
8,535
+1.8%
Intangible assets
10,420
10,758
7,780
-3.1%
Investments
455
328
1,579
+38.7%
Cash and equivalents
1,350
1,547
1,278
-12.7%
Receivables
777
700
508
+11.0%
Other assets
55,581
51,538
47,725
+7.8%
Total assets
82,003
77,987
68,279
+5.1%
10-K for the year ended 31 December 2016, filed 7 February 2017: the filing.