Invesco (IVZ) FY2017 results: revenue $5.2 billion, up 9.0% on the year
Invesco Ltd. (IVZ) reported revenue of $5.2 billion for fiscal 2017, the year ended 31 December 2017, up 9.0% on the year before. Net income was $1.1 billion, up 32.0%, and diluted earnings per share $2.75. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$5.2 billion
+9.0% on the year
FY2010FY2017
Operating margin
24.7%
24.3% a year earlier
FY2010FY2017
Net income
$1.1 billion
+32.0% on the year
FY2010FY2017
Diluted EPS
$2.75
+33.5% on the year
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
5,160
4,734
5,123
+9.0%
Operating income
1,277
1,152
1,358
+10.8%
Operating margin
24.7%
24.3%
26.5%
Interest expense
94.8
93.4
81.7
+1.5%
Pre-tax income
1,429
1,207
1,362
+18.4%
Income tax
268
338
398
-20.7%
Effective tax rate
18.8%
28.0%
29.2%
Net income
1,127
854
968
+32.0%
Net margin
21.8%
18.0%
18.9%
Diluted EPS
$2.75
$2.06
$2.26
+33.5%
$ 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
1,158
654
1,128
+77.0%
Capital expenditure
112
148
124
-24.4%
Free cash flow
1,046
506
1,004
+106.6%
Free cash flow margin
20.3%
10.7%
19.6%
Cash from investing
-974
-1,006
-665
Cash from financing
169
470
-51.6
-64.1%
Depreciation and amortisation
117
101
93.6
+15.4%
Share-based compensation
175
160
150
+9.8%
Buybacks
63.8
535
624
-88.1%
Dividends paid
472
460
454
+2.4%
Dividend per share
$1.15
$1.11
$1.06
+3.6%
Diluted shares, weighted
410m
415m
429m
-1.2%
Shares outstanding at period end
407m
404m
418m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,696
7,504
7,885
+15.9%
Non-controlling interest
260
108
810
+140.3%
Redeemable equity
243
284
167
-14.3%
Debt
2,076
2,102
2,073
-1.3%
Other liabilities
20,394
15,736
14,137
+29.6%
Total liabilities and equity
31,669
25,734
25,073
+23.1%
Fixed assets
491
465
427
+5.6%
Goodwill
6,591
6,129
6,176
+7.5%
Intangible assets
1,559
1,399
1,354
+11.4%
Investments
347
n/a
n/a
Cash and equivalents
2,006
1,328
1,851
+51.1%
Other assets
20,676
16,413
15,265
+26.0%
Total assets
31,669
25,734
25,073
+23.1%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.