Moody's (MCO) FY2016 results: revenue $3.6 billion, up 3.4% on the year
Moody's Corp. (MCO) reported revenue of $3.6 billion for fiscal 2016, the year ended 31 December 2016, up 3.4% on the year before. Net income was $267 million, down 71.7%, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$3.6 billion
+3.4% on the year
FY2009FY2016
Operating margin
18.1%
42.3% a year earlier
FY2009FY2016
Net income
$267 million
-71.7% on the year
FY2009FY2016
Diluted EPS
$1.36
-70.6% 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
3,604
3,484
3,334
+3.4%
Research and development
40.1
29.1
37.9
+37.8%
Selling, general and administrative
931
921
869
+1.1%
Operating income
651
1,473
1,439
-55.8%
Operating margin
18.1%
42.3%
43.2%
Pre-tax income
558
1,380
1,461
-59.6%
Income tax
282
430
455
-34.4%
Effective tax rate
50.6%
31.2%
31.1%
Net income
267
941
989
-71.7%
Net margin
7.4%
27.0%
29.7%
Diluted EPS
$1.36
$4.63
$4.61
-70.6%
$ 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
1,259
1,198
1,019
+5.1%
Capital expenditure
115
89.0
74.6
+29.4%
Free cash flow
1,144
1,109
944
+3.1%
Free cash flow margin
31.7%
31.8%
28.3%
Cash from investing
102
-92.0
-565
Cash from financing
-1,043
-506
-1,064
Depreciation and amortisation
127
114
67.2
+11.6%
Share-based compensation
98.1
87.2
80.4
+12.5%
Buybacks
739
1,098
1,220
-32.7%
Dividends paid
285
272
236
+4.8%
Dividend per share
$1.49
$1.39
$1.18
+7.2%
Diluted shares, weighted
195m
203m
215m
-3.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-1,225
-565
-188
Non-controlling interest
198
232
231
-14.8%
Debt
3,363
3,381
2,547
-0.5%
Other liabilities
2,992
2,055
2,079
+45.5%
Total liabilities and equity
5,327
5,103
4,669
+4.4%
Fixed assets
326
306
302
+6.4%
Goodwill
1,024
976
1,021
+4.8%
Intangible assets
296
299
346
-0.9%
Investments
206
530
506
-61.1%
Cash and equivalents
2,052
1,757
1,220
+16.7%
Receivables
887
802
792
+10.6%
Other assets
536
432
482
+24.2%
Total assets
5,327
5,103
4,669
+4.4%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.