Mastercard (MA) FY2016 results: revenue $10.8 billion, up 11.5% on the year
Mastercard Inc. (MA) reported revenue of $10.8 billion for fiscal 2016, the year ended 31 December 2016, up 11.5% on the year before. Net income was $4.1 billion, up 6.6%, and diluted earnings per share $3.69. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$10.8 billion
+11.5% on the year
FY2009FY2016
Operating margin
53.5%
52.5% a year earlier
FY2009FY2016
Net income
$4.1 billion
+6.6% on the year
FY2009FY2016
Diluted EPS
$3.69
+10.1% 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
10,776
9,667
9,441
+11.5%
Operating income
5,761
5,078
5,106
+13.5%
Operating margin
53.5%
52.5%
54.1%
Interest expense
95.0
61.0
48.0
+55.7%
Pre-tax income
5,646
4,958
5,079
+13.9%
Income tax
1,587
1,150
1,462
+38.0%
Effective tax rate
28.1%
23.2%
28.8%
Net income
4,059
3,808
3,617
+6.6%
Net margin
37.7%
39.4%
38.3%
Diluted EPS
$3.69
$3.35
$3.10
+10.1%
$ 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
4,637
4,101
3,407
+13.1%
Capital expenditure
215
177
175
+21.5%
Free cash flow
4,422
3,924
3,232
+12.7%
Free cash flow margin
41.0%
40.6%
34.2%
Cash from investing
-1,163
-715
690
Cash from financing
-2,344
-2,516
-2,339
Depreciation and amortisation
373
366
321
+1.9%
Share-based compensation
149
122
-15.0
+22.1%
Buybacks
3,511
3,518
3,386
-0.2%
Dividends paid
837
727
515
+15.1%
Dividend per share
$0.79
$0.67
$0.49
+17.9%
Diluted shares, weighted
1,101m
1,137m
1,169m
-3.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,656
6,028
6,790
-6.2%
Non-controlling interest
28.0
34.0
34.0
-17.6%
Debt
5,180
3,268
1,494
+58.5%
Other liabilities
7,811
6,939
7,011
+12.6%
Total liabilities and equity
18,675
16,269
15,329
+14.8%
Fixed assets
733
675
615
+8.6%
Goodwill
1,756
1,891
1,522
-7.1%
Intangible assets
722
803
714
-10.1%
Investments
n/a
n/a
1,168
Securities held for sale or to maturity
1,162
861
n/a
+35.0%
Cash and equivalents
6,721
5,747
5,137
+16.9%
Receivables
1,416
1,079
1,109
+31.2%
Other assets
6,165
5,213
5,064
+18.3%
Total assets
18,675
16,269
15,329
+14.8%
10-K for the year ended 31 December 2016, filed 13 February 2019: the filing.