Moody's (MCO) FY2015 results: revenue $3.5 billion, up 4.5% on the year
Moody's Corp. (MCO) reported revenue of $3.5 billion for fiscal 2015, the year ended 31 December 2015, up 4.5% on the year before. Net income was $941 million, down 4.8%, and diluted earnings per share $4.63. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$3.5 billion
+4.5% on the year
FY2008FY2015
Operating margin
42.3%
43.2% a year earlier
FY2008FY2015
Net income
$941 million
-4.8% on the year
FY2008FY2015
Diluted EPS
$4.63
+0.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,484
3,334
2,972
+4.5%
Research and development
29.1
37.9
22.8
-23.2%
Selling, general and administrative
921
869
822
+6.0%
Operating income
1,473
1,439
1,235
+2.4%
Operating margin
42.3%
43.2%
41.5%
Pre-tax income
1,380
1,461
1,169
-5.6%
Income tax
430
455
353
-5.5%
Effective tax rate
31.2%
31.1%
30.2%
Net income
941
989
804
-4.8%
Net margin
27.0%
29.7%
27.1%
Diluted EPS
$4.63
$4.61
$3.60
+0.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,198
1,019
927
+17.6%
Capital expenditure
89.0
74.6
42.3
+19.3%
Free cash flow
1,109
944
884
+17.5%
Free cash flow margin
31.8%
28.3%
29.8%
Cash from investing
-92.0
-565
-262
Cash from financing
-506
-1,064
-499
Depreciation and amortisation
114
67.2
65.4
+68.9%
Share-based compensation
87.2
80.4
67.1
+8.5%
Buybacks
1,098
1,220
893
-10.0%
Dividends paid
272
236
197
+15.3%
Dividend per share
$1.39
$1.18
$0.98
+17.8%
Diluted shares, weighted
203m
215m
224m
-5.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
-565
-188
337
Non-controlling interest
232
231
10.9
+0.6%
Redeemable equity
n/a
n/a
80.0
Debt
3,381
2,547
2,102
+32.7%
Other liabilities
2,055
2,079
1,865
-1.1%
Total liabilities and equity
5,103
4,669
4,395
+9.3%
Fixed assets
306
302
279
+1.4%
Goodwill
976
1,021
665
-4.4%
Intangible assets
299
346
222
-13.4%
Investments
530
506
187
+4.7%
Cash and equivalents
1,757
1,220
1,920
+44.1%
Receivables
802
792
694
+1.2%
Other assets
432
482
429
-10.4%
Total assets
5,103
4,669
4,395
+9.3%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.