Mastercard (MA) FY2017 results: revenue $12.5 billion, up 16.0% on the year
Mastercard Inc. (MA) reported revenue of $12.5 billion for fiscal 2017, the year ended 31 December 2017, up 16.0% on the year before. Net income was $3.9 billion, down 3.5%, and diluted earnings per share $3.65. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$12.5 billion
+16.0% on the year
FY2010FY2017
Operating margin
53.0%
53.5% a year earlier
FY2010FY2017
Net income
$3.9 billion
-3.5% on the year
FY2010FY2017
Diluted EPS
$3.65
-1.1% 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
12,497
10,776
9,667
+16.0%
Operating income
6,622
5,761
5,078
+14.9%
Operating margin
53.0%
53.5%
52.5%
Interest expense
154
95.0
61.0
+62.1%
Pre-tax income
6,522
5,646
4,958
+15.5%
Income tax
2,607
1,587
1,150
+64.3%
Effective tax rate
40.0%
28.1%
23.2%
Net income
3,915
4,059
3,808
-3.5%
Net margin
31.3%
37.7%
39.4%
Diluted EPS
$3.65
$3.69
$3.35
-1.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,664
4,637
4,101
+22.1%
Capital expenditure
300
215
177
+39.5%
Free cash flow
5,364
4,422
3,924
+21.3%
Free cash flow margin
42.9%
41.0%
40.6%
Cash from investing
-1,779
-1,163
-715
Cash from financing
-4,764
-2,344
-2,516
Depreciation and amortisation
436
373
366
+16.9%
Share-based compensation
176
149
122
+18.1%
Buybacks
3,762
3,511
3,518
+7.1%
Dividends paid
942
837
727
+12.5%
Dividend per share
$0.91
$0.79
$0.67
+15.2%
Diluted shares, weighted
1,072m
1,101m
1,137m
-2.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,468
5,656
6,028
-3.3%
Non-controlling interest
29.0
28.0
34.0
+3.6%
Debt
5,424
5,180
3,268
+4.7%
Other liabilities
10,408
7,811
6,939
+33.2%
Total liabilities and equity
21,329
18,675
16,269
+14.2%
Fixed assets
829
733
675
+13.1%
Goodwill
3,035
1,756
1,891
+72.8%
Intangible assets
1,120
722
803
+55.1%
Securities held for sale or to maturity
1,149
1,162
861
-1.1%
Cash and equivalents
5,933
6,721
5,747
-11.7%
Receivables
1,969
1,416
1,079
+39.1%
Other assets
7,294
6,165
5,213
+18.3%
Total assets
21,329
18,675
16,269
+14.2%
10-K for the year ended 31 December 2017, filed 13 February 2019: the filing.